Dow 2008

[firewalker99]

Can anyone say Black Monday?

Now is the time to ask Grey1!
Let us remember his "famous last words" and have a minute silence

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"heheh they are dreaming .. THIS MARKET WILL NEVER EVER GO TO MARCH LOW .Oil hits 120$ and market rallies , is this a weak market ? grey1"
​

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Oh and btw, I posted yesterday -at the time the market was trading 12600- that the target for today was 12275.
Everything is known in advance :cheesy:

Goodbye all.

 

[Atilla]

Exceptionally a good day. Recouped the losses of the previous day and made some more for the week...

I think we were all expecting this but I really feel the market makers manipulate the markets to setup bear and bull traps.

Some of my SL got taken out and this has happened few times now and when I go short normally I either don't place SL or put them very far out. SL when I go long are much tighter. I'm getting greedy in that my losses could have been less and gains so much more but that's life eh :cheesy:.

I'm hearing rumours on Bloomberg about some Israeli action on Iranian nuclear installations. Not sure how to interpret this but will need to scour the news sites for crumbs I guess.

Oil at $138 great stuff.

I have 12074=S2 and earlier in the week thought 12000 is bound to be tested. Still hold this belief. Buyers will want some conviction to stay in this market.

Have a great weekend y'all now... Things can only get much worse imo. :clover:

 

[frugi]

It is sad to watch this picture develop. I hope the price you are paying for success is worth it, FW.

edit: Yes that was probably a bit strong. Price being personal, not monetary (and quite possibly imaginary anyway). I can't be the only one to have noticed the gradual change in tone of some of your posts from humble, inquisitive, open-minded and polite to the sort of coarse gloating we see above. Not that it's any of my business how you choose to present on a public forum.

Your progress in trading has been phenomenal, a real joy to watch a keen mind soak up the keystones and apply them so deftly ... it's just a shame, although under the circumstances, hardly surprising, that this success seems to have come slightly tainted by arrogance, which as everyone knows can work against you especially when caught in a lifetime embrace with the market. That's all I meant. Still, who am I to dictate and judge you on a few posts on the Internet, the majority of which have been excellent? Stay careful, the best of luck to you and may the incipient March lows fill your basket sir.

 

[counter_violent]

It is sad to watch this picture develop. I hope the price you are paying for success is worth it, FW.

Yes very sad when people get ahead of themselves.

 

[chilltrader]

It is sad to watch this picture develop. I hope the price you are paying for success is worth it, FW.

not sure I understand what you mean.... what is the "sad picture" again?

 

[breadman]

around 20160 to 20170 looking to go long if we get there.

 

[Vaco]

around 20160 to 20170 looking to go long if we get there.

i miht have retired before you put that long trade on:cheesy:

 

[breadman]

i should have bought at the close on friday

 

[Atilla]

i should have bought at the close on friday

I'm still shorting the rises. Fairly nice oscillations today. Overall I feel we will go down a little more.

Bernanke may stabilise markets with reassuring talk but not sure what he can say to prevent falls. Talk is cheap. Actions speak louder. I'd like him to raise rates and steady the dollar and then people may give him some credibility. At least he'll then have another option to reduce rates... :cheesy:

I'm all doom and gloom. Things can only get much worse... La la la... Oh look men in white coat are here to feed me... :cheesy:

 

[Atilla]

Hi everyone,

fwiw I think this market is heading down ultimately to test 12000 soon but in the next couple of days it may test fib retrace to 12308 (as it tried today) and 38% retrace to 12360.

I also have R1 at 12434. Be surprised if this is breached but we are talking about the DOW with potential interest rate rises so you would expect the beast to do the unexpected...

Anyway suspect based on my 4 hour charts some bounce and then a retest of 12000.

Will be looking to go short on the bounces based on me price cutting over MAs.

Good trading everyone.

 

[Vaco]

lots of bad news about today, will be intersting to c if we fill the gap once open and get back up to yeasterdays close or if were gonna head straight down. we may see 12000 sooner then you expected Atlla

 

[Atilla]

lots of bad news about today, will be intersting to c if we fill the gap once open and get back up to yeasterdays close or if were gonna head straight down. we may see 12000 sooner then you expected Atlla

I can see Fib retrace 38% was touched yesterday at 12358... I think enthusiasm is beginning to dwindle but not sure if I want to go in yet as daily charts look possibly like rising. We may next try for 12400. Not sure.

I'd like to see Daily S&R lines broken down first. I'm thinking Thursday or Friday likely to be possibly good shorting days.

Prefer to stay on the sidelines a little longer.

Good trading everyone.

 

[elsaQ]

lots of bad news about today, will be intersting to c if we fill the gap once open and get back up to yeasterdays close or if were gonna head straight down. we may see 12000 sooner then you expected Atlla

What news are you referring to?

Thanks

E

 

[Hook Shot]

(1)Ira Epstein was saying sp futs were at bolly bottom on tuesday so perhaps this dive/reversal could be a BBBBuuu .......? dow now 12162 although not directly comparable

(2) stocktiger also had 12100 on his sppt list ..........

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This is only a guess ....... and I'm often wrong IN ANY CASE DOW STILL HAS TO BATTLE 12190/200 HURDLE

 

[Vaco]

What news are you referring to?

Thanks

E

Asian markets were down pretty bad rumours that an interest rate hike is likely to combat inflation, cant remember what else off the top of my head

 

[catracho]

Dow chart

IMHO we are clearly in down trend...from 14200 high

Lots of lines on chart...but basically 2 bearish flags (red and blue) fulfilled price objectives ..and more..

IF the BLACK BEARISH flag also fulfils price target...we could go a lot lower than MOST are expecting....my rough calc gives eventual target 10400 ish ..

caveat: obviously if it happens, will not be straight line!!

 

[senyorqueso]

Don't know about all this bearish stuff. Could be a massive trap being set here

 

[dans_ya_man]

Will be looking at my hourly charts today for direction, nice downward channels developing here.

My bias is on the downside and will be looking to enter a failed rally to the top of the channel or a good break at 12070, 12000 may cause some resistance but I feel this will break today.

If 12000 does break then its 11670 here we come

 

[dans_ya_man]

Will be looking at my hourly charts today for direction, nice downward channels developing here.

My bias is on the downside and will be looking to enter a failed rally to the top of the channel or a good break at 12070, 12000 may cause some resistance but I feel this will break today.

If 12000 does break then its 11670 here we come

Sorry, meant to say 12000 may cause some Support

 

[dans_ya_man]

A clear break of the upper channel,

should be going long but I just cant do it,

Im sure this is a fake out and things will come down by the end of the day, we shall wait and see