Dow 2008

[Mr.J-Arthur]

"Let others battle it out." <-Right on. This is one hard sell...down over 100pts right at opening. I was thinking of shorting because the trend was already pointing down, but too late now!

Fun to watch nonetheless

I'll just join you and wait it out until 3ish.

 

[Atilla]

"Let others battle it out." <-Right on. This is one hard sell...down over 100pts right at opening. I was thinking of shorting because the trend was already pointing down, but too late now!

Fun to watch nonetheless

I'll just join you and wait it out until 3ish.

I'm not sure if that was the shake out but just come back to have another look and wow.

The rise...

I'm not sure today is a good day to trade.

I like life a little less shaky and more stable...

Ok if we make a higher low I may go long at S1 with a tight SL.

 

[Atilla]

I'm long @ 11535. SL 11505.

First target 11594.
Second target 11676.

Let's see how high the housing stats takes the DOW...

 

[Gaffs1964]

Hi Atilla,

are you using MA's for thos targets?

I was short and stopped out at 11550, i've got no idea where today's going though!

 

[Paul71]

Cash prices, buying above 527, selling below it. Looks as though the selling cycle has ended, so that would be a case for selling the buying, take care of the numbers.

 

[Atilla]

Hi Atilla,

are you using MA's for thos targets?

I was short and stopped out at 11550, i've got no idea where today's going though!

I use pivot points for my targets.

Hmm bit of a pull back. Holding position.

 

[Mr.J-Arthur]

I'm still holding off.

The falling knife and the bounce was insane!
Maybe you took profit on your trade Atila? MA's crossing under again on 1min chart, just starting to move upward on the 5min.

Gaffs1964-Market Makers are trying to set traps when they do a hard sell. Trying to gauge how many people will attempt a short vs. long. Best advice: stay out of market until the true direction can be seen. I'm guessing a lot of longs and shorts have been burned already.

EDIT:Sell the tops today? I hate waiting, haha.
Could this be a channel down?

 

[Gaffs1964]

Good Advise, thanks - I have a stop on my long at the moment, which will probably end up being triggered, then again....

 

[Atilla]

Good Advise, thanks - I have a stop on my long at the moment, which will probably end up being triggered, then again....

Well my 505 stops have been taken out.

Turned a pip making session into a loss..

Likewise for my EURUSD trade from yesterday.

Today has not been a good day despite my trades being on +ve territory.

I shall have to continue enjoying the garden today and reflect later in the evening...

Good trading everyone.

 

[Paul71]

588, sell below, buy above. Tight stop, get the run, chin up!

 

[Mr.J-Arthur]

I made some good calls for today and I didn't trade them. I just shorted near 560, looking for some consolidation. If I get stopped I'm just done for the day, unless we see a full fledged reversal (not likely, as it's already NOON).

No big losses today. Chin up

 

[Paul71]

I made some good calls for today and I didn't trade them. I just shorted near 560, looking for some consolidation. If I get stopped I'm just done for the day, unless we see a full fledged reversal (not likely, as it's already NOON).

No big losses today. Chin up

 

[Mr.J-Arthur]

Son of a B.

I got scalped out of my short position and missed those good points.
I'm going to be adding capitol so my 1% stop becomes MUCH wider.

How's it looking everyone?

 

[Gaffs1964]

looking long!

 

[Gaffs1964]

Stop just under 11590 as I'm really nervous! - at least I managed to get back what I was stopped out of yesterday. _ I think that's it for me this week. - Happy Trading.

 

[Mr.J-Arthur]

HOLLLLYYYYY SMOKKKKE DUDE.

RALLY RALLY! I didn't even get on at the beginning and I'm making my daily profit target! Woo hoo.
Give me another 100 pts plz

 

[jayjay121]

anyone thinking of a short on monday?..or is it just me?

 

[breadman]

if we can close above 11705 today looking for the market to go higher next week.
11860, 11970, 12000 over the next 7 days dates to look for a top are the 15, 18, 19 then a retest of the lows.

 

[leovirgo]

7th August was a clear short day for me. This was my post (http://www.trade2win.com/boards/us-indices/28491-day-trade-dow-jones-profit-5.html#post475177 ). But, yesterday 8th was a tough day to trade. It was a bullish day but my system barely gave a long signal. Always check market breadth and market internals.

 

[Mr.J-Arthur]

Leovirgo and others,

This weekend we have had bad news, war has broken out between georgia and mother Russia.
This cannot help us DOW traders. We may see Oil go up from lows, maybe..

Also, an american was killed in Beijing. Stabbed to death. Not sure if this is as important as the new war between russia and georgia, but something to consider!

Leovirgo-the 7th was indeed a short day, I was stopped out due to a tight stoploss. Bummer.
On the 8th, if you missed out, try to use MA crossovers to find breakouts. I got on at the end of the day to make 60pts (not much, but something at least).

Monday-maybe a selloff, and then go long.We'll just have to see what happens. The news may favor an advance in oil. We'll trade with the trend either way...