Dow 2008

[francisfinley]

bit of a thump at 19.56... taken till now for the djia and oil to come back in to correlation

 

[Mr.J-Arthur]

WOW.
Making a few scalps here. Garnishing my daily profit...
boy-o

 

[Atilla]

600s taken out...

Isn't it sweet when what you see presents it self and becomes reality.

A little like when you are on morphine to who ever has been lucky enough to try it...

 

[Mr.J-Arthur]

Atilla-Never tried Morphine, but sometimes trading induces the same feeling like you mentioned!
I had a nice adrenaline burst while shorting this end of day collapse, very fun.

Tomorrow will be interesting. I expect market makers and market conditions to favor selling, as long as oil moves off lows and does a 2-3$ rally.

OIL is a good indicator to use when trading DOW.

I hope to bag more points and a higher %
good trading!

 

[Pat494]

Congrats guys on making profits yesterday,
I got stopped out on both my trades yesterday.
Just as a matter of some interest how did you cope with the choppy ( oscilating ) conditions ?

 

[francisfinley]

i made in the early part and stayed out just after 18.30!

 

[Mr.J-Arthur]

Caught the big AM sell and the later PM sell.

What's the game plan for today? Watch out we have a news day so keep those ears perked. Retail sales I think.

 

[francisfinley]

just came out at 13.30 GMT...

off 0.1% for july


missed the sell off @ 12.37 GMT... boogah

 

[Vaco]

dow gonna slump or rally off of those oil inventory numbers? I'm currently on my second short of the day in at 11512

 

[Mr.J-Arthur]

Sold Short before market open @11584 !!
Stopped out too early at a profit...
I need to hold my positions longer, I would have caught +100 pts!
Oil inches up. dow inches down.

 

[breadman]

long dow 11501
high risk trade stop loss 11450, small position

 

[breadman]

add to position 11472

 

[breadman]

average 11486.5 out for -5 when fourth attempt to break 11490 failed.

 

[Gaffs1964]

It'll probably bounce back up in the last hour

 

[francisfinley]

It'll probably bounce back up in the last hour

fingers x'd:clover:

 

[Atilla]

Hi guys,

I'm home now and looking at the charts. Looking very interesting...

Couldn't resist but go long here based on 1 hour and 15min charts

Long @ 11472. SL @ 11442.

I have S2 @ 11474 so expect some bounce.

My target would be 23% retrace to 11553. Also very close to S1 @ 11556.

Dare I say it's looking bearish. Nothing ventured nothing gained.

I'm 50/50 on this but the upside is worth the punt.

 

[Mr.J-Arthur]

Haha, hmm becareful with that idea that it might "bounce up before close"....

This is a mouse trap. I entered a long and "they" are just moving the price around. The first short was the best...and now I'm getting whipsawed. Looks like YM and QM are not connected today...
Ym should be falling more because of oil..I'm a little skeptical.

If oil does fall it should give YM a little kick..
was there a shortage for inventory?

 

[Mr.J-Arthur]

I'm long with fingers crossed. I expect this thing to not do what I want it to...
It's my last attempt at a big trade for the day.

Still bearish but maybe it will pop. MA's are coming together nicely...
11442 is a deep stop but it should be the nearest support I would think.
I'm in the 11450's.

hope no market makers read this lol.

 

[Atilla]

Haha, hmm becareful with that idea that it might "bounce up before close"....

This is a mouse trap. I entered a long and "they" are just moving the price around. The first short was the best...and now I'm getting whipsawed. Looks like YM and QM are not connected today...
Ym should be falling more because of oil..I'm a little skeptical.

If oil does fall it should give YM a little kick..
was there a shortage for inventory?

Oil was $140+ at one point. Currently $117.

You are right to some extent it may be prudent to wait to see MAs level and turn up (turn green as per my system anyway) but I thought I'll place the long and go and have my supper expecting to come back to some positivie pips. Otherwise there is always tomorrow eh? :whistling

Having said that on the 15min charts I do see congestion with price and MAs turning quite nicely. imo once 480s cleared it should be a good long scalping opportunity at least.

 

[francisfinley]

even though oils @ $ 117 djia's holding out & seems to be some support around 11470 and theyre not budging .... yet.