Dow 2008

[black bear]

Stop + 10

 

[firewalker99]

does technical analysis go out the window on days like these, i ask because i have a divergence short set up approaching very soon, im not going to take it because of the fed but still would appreciate your thoughts

although the news can do unexpected things, so far this has been purely technical... break of resistance and a retracement back to test support on lower volume...

so basically this should fly up on the news

 

[firewalker99]

and still holding...

stop moved to 930, profit locked in...
going for a break of 13000?

The DOW Transports is about to make new ALL TIME highs!
Can you believe this is happening?

 

[firewalker99]

stop moved to 930, profit locked in...

just as I type this, it spikes me out

 

[houdani]

shorted s+p at 1401.8,up a bit from there but hoping to hold for a bit now.

 

[firewalker99]

so basically this should fly up on the news

I didn't think I'd say this two months ago, but I just saw a glimpse of 13000 on my quote panel

 

[firewalker99]

shorted s+p at 1401.8,up a bit from there but hoping to hold for a bit now.

bold move imo...
but if we drop back below resistance, it will be a fakeout
so I suppose the potential is worth the risk

 

[Phil Mibbutz]

just as I type this, it spikes me out

Someone really brave and lucky could have made 200pt in 2 min. Quadruple spike-out more likely, though.

 

[houdani]

bold move imo...

i hate shorting the news,especially the fed.but im in it now.spare set of pants at the ready

 

[firewalker99]

Someone really brave and lucky could have made 200pt in 2 min. Quadruple spike-out more likely, though.

He'd have to been very lucky and using very wide stops.

I had my stop set at 910 earlier on, then moved it up to 930. But it spiked down to 900 which was quite a bit lower. And unless you had your mind set on 13000 with a limit sell order even the quickest fingers wouldn't have managed to sell there I think. It's a straight touch and reverse there on my chart.

 

[firewalker99]

i hate shorting the news,especially the fed.but im in it now.spare set of pants at the ready

Of all the markets to short, I do think you picked the best one out there.
All other markets have gone up above resistance, ES is still below 1405...

 

[jayjay121]

i hate shorting the news,especially the fed.but im in it now.spare set of pants at the ready

i could never trade the fed, just look at the range of the spikes, its like that each time, feels like a gamble too much, because just look at fw, he said it would go up and it did but he got stopped out on a huge spike down, i would be gutted right now if that was me especially when it touched 13000

 

[firewalker99]

i could never trade the fed, just look at the range of the spikes, its like that each time, feels like a gamble too much, because just look at fw, he said it would go up and it did but he got stopped out on a huge spike down, i would be gutted right now if that was me especially when it touched 13000

I don't feel too bad, after all I was correct on the direction, not as satisfying as real profits though. but we all knew the FED was going to be spikey...

 

[jayjay121]

although its good that the fed cut rates as expected and even better that they have left the door open for further cuts, but i feel this is further proof of the troubles the us is in and further evidence the fed is concerned so me feels this market will eventually feel this too and the shorts will be in

 

[houdani]

here comes the fed cavalry,bounced 6+pts from the lows.im hoping at the most 1410,but dont really want to see 1405/6 go.

 

[Phil Mibbutz]

He'd have to been very lucky and using very wide stops.

I had my stop set at 910 earlier on, then moved it up to 930. But it spiked down to 900 which was quite a bit lower. And unless you had your mind set on 13000 with a limit sell order even the quickest fingers wouldn't have managed to sell there I think. It's a straight touch and reverse there on my chart.

Seems to depend which chart. The future looks to have broken 13000, then spiked down to 902, then gone back to 13000. Spread bet charts show three peaks, but they often don't match the quotes!

 

[firewalker99]

Seems to depend which chart. The future looks to have broken 13000, then spiked down to 902, then gone back to 13000. Spread bet charts show three peaks, but they often don't match the quotes!

three peaks? on what timeframe?

here's what I have on the 5-min

 

[d_one]

As I said on the which way dow thread look for new highs in the June/July time frame.. look for a reversal now to 12500/600 area then off we go again to the races.

....ALWAYS REMEMBER TO USE STOPS....

 

[gilligullu]

I made 108 points in 3 trades..... Crazy.... Nearly had a heart attack.......

 

[d_one]

The first peak is always the right direction (normally).. And then following day tends to be a trend reversal