Dow 2008

breadman · Jul 24, 2008

just got home to find out I missed another 200 points. Not sure for tomorrow, it will probably go a bit lower before a bounce.

Atilla · Jul 24, 2008

breadman said:
just got home to find out I missed another 200 points. Not sure for tomorrow, it will probably go a bit lower before a bounce.

Exits are always difficult. Our Firewalker did a lot of work on exits but not sure if he'll respond.

I think Slow stochastics usually good indicator of exit pos coupled with MAs.

I think you did superbly well though Breadman. It's good to stick to targets too. Well done imo.

It was exceptional today and not what I was expecting this morning...

tantra · Jul 25, 2008

Breadman.. you legend! You ever get it wrong?

breadman · Jul 25, 2008

tantra said:
Breadman.. you legend! You ever get it wrong?

yes I do get it wrong. I have had a good run of late.
With regards to me looking for the market to go to 12000/12100 area.It might not go their, we might double top at 11700 which is the 38.2% of the last move down from the 19 of May.

breadman · Jul 25, 2008

Atilla said:
I'm at home now but didn't take the short from work as I wavered hummed and harred and left flat.

I now think we will turn from 11330 which is S2 on my pivot points. Contemplating going long.

good call Atilla

Atilla · Jul 25, 2008

breadman said:
good call Atilla

Can anybody see Head & Shoulders formation on the hourly charts?

If it develops we could be looking to test 11050s again...

breadman · Jul 25, 2008

Yes I can, but it's not a great one. I do see alot of these head and shoulder patterns some break some hold. We are on the neck line now anyway so one to watch. If we break I would be looking for 11265 area first. The 15 of july low to the 23 of July high 61.8% Fibonacci speed/resistance in time is 15.30 on Monday so which ever way it breaks you would want to join the trade. This would be a good place for a bounce.

Atilla · Jul 25, 2008

breadman said:
Yes I can, but it's not a great one. I do see alot of these head and shoulder patterns some break some hold. We are on the neck line now anyway so one to watch. If we break I would be looking for 11265 area first. The 15 of july low to the 23 of July high 61.8% Fibonacci speed/resistance in time is 15.30 on Monday so which ever way it breaks you would want to join the trade. This would be a good place for a bounce.

Yes I agree.

I'm currently short from 11353...

Atilla · Jul 27, 2008

Hi everyone,

The bounce expected couple of weeks back has materialised but now we can have one of two outcomes... :cheesy: We can recover heading up to 12200+ regions or do H&S turn around and head South to 10500 regions.

I think the DOW based on my weekly indicator MACD, is moving up.

My Moving Averages have just begun to turn up and if 11454 level is breached convincingly then I have 12246 as next target - which is Fib 61% retrace from May falls...

The upper resistance to the next wave up is 12800 but I think we may get there perhaps by Christmas.

I'm going to stick my neck out and say we'll end the year on the DOW just below 13000.

In the short term we may test the lows again perhaps touching 11128 and then bouncing back up.

Good trading everyone.

breadman · Jul 28, 2008

breadman said:
Yes I can, but it's not a great one. I do see alot of these head and shoulder patterns some break some hold. We are on the neck line now anyway so one to watch. If we break I would be looking for 11265 area first. The 15 of july low to the 23 of July high 61.8% Fibonacci speed/resistance in time is 15.30 on Monday so which ever way it breaks you would want to join the trade. This would be a good place for a bounce.

the low today 11304 was 10 mins ago at 15.30 looking to buy if this holds.

breadman · Jul 28, 2008

the low has been broken so no trade.

Atilla · Jul 28, 2008

breadman said:
the low has been broken so no trade.

I'm still short. Wondering whether to close at 11200 or wait for me target of 11130s...

SL moved to 11200. Limit set at 11140.

I love the sunshine...

breadman · Jul 28, 2008

nice profit Atilla, it's a hard call which figure will be hit first.

Atilla · Jul 28, 2008

breadman said:
nice profit Atilla, it's a hard call which figure will be hit first.

Closed at 11188.

I now think we will make a higher low and turn up. Not sure about the timing. Maybe tomorrow.

Ofcourse if it's a lower low then H&S in play. Wait watch and see. My money is for a turn up... Time will tell all I guess. :cheesy:

tantra · Jul 28, 2008

i missed this one

I had some strategic stop sells in place to short, but they never actioned due to lack of funds un my account!! I was to sell at 11310, 11290 and 11220 - had they gone through, i would have been laughing! My initial margin has been tied up elsewhere and a few positions have gone against me today.

Gutted when the dow went up.. gutted when its coming down!

Oh well.. you live and learn

breadman · Jul 28, 2008

I agree my next trade will be a buy tomorrow at some stage I think.

Atilla · Jul 28, 2008

breadman said:
I agree my next trade will be a buy tomorrow at some stage I think.

Long at 11137.

breadman · Jul 29, 2008

I also got a buy sign at the end of the day. I did not place a trade, looking to go long today, hopefully I have not missed it.

tantra · Jul 29, 2008

hope you're right mate. But if the iranians come up with something silly it will send oil prices mental - pushing indicies lower.

Atilla · Jul 29, 2008

tantra said:
hope you're right mate. But if the iranians come up with something silly it will send oil prices mental - pushing indicies lower.

SL @ 11080

Dow 2008

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