Dow 2008

[Atilla]

Short @ 11631.

11500 will do nicely for starters as an appertizer for next week...

 

[Mr.J-Arthur]

Yeah no kidding Francis! Wars alway kick up volume hah.

I'm watching YM but I don't see good trades.
just no strength today..

Volume is tapering off right now.
so it's the weekend now for me.

 

[Vaco]

ahhhh crap guys, today is a range, and looks like we may break to the upside, but I don't see the strength like yesterday.

Staying flat for now! happy weekend guys

well spotted but please share at what point you came to that conclusion and how you came to it?

 

[Mr.J-Arthur]

No I didn't trade that, I was just rolling the idea around. Today was choppy with mixed signals. I didn't trade because this market is choppy today. Plus, I just tell myself, I made my points yesterday, might as well relax haha.

My call is a monday morning sell off...we had bad CPI data and it needs to smack us around some more. I can see 11500.

but who knows? I had no idea yesterday would have a nice move off the low...but MA's told me so.
Today is like a small studder...not significant. so still flat. was going to go long at 11610 but not a big deal. I like to make all my points in the first 2 hours if possible.
oh it's already pulling back...MM's just yanking it around.

time to study and eat some brownies. cheers!

 

[Vaco]

place your bets for the close, up down or flat?

 

[Mr.J-Arthur]

slightly up from yesterday's close, or slightly lower.
nothing huge. maybe a sell into 115's on monday, maybe 11450?

 

[Atilla]

Started the week off well but ended badly.

I'm all flat now and will look forward to next week.

Enjoy all that you do everyone... :clap:

 

[Vaco]

my charts still point to a move up 12000 before we break for new lows. below are my weekly and daily charts, feel free to comment

 

[Mr.J-Arthur]

Yes Elefteros, it def. looks possible and likely.

We are in a channel up, correct? Looks good, we are due for some bullish movement.
Have you heard of Oscar? Livewithoscar.com he is an experienced trader from the pit, he thinks there's a fundamental shift going on.

Eventually we should be up to 13 (within the year hopefully!)

HAS anyone traded with Global Futures? They allow traders to trade YM for $500. My broker makes me have 3500 for one YM contract!

 

[Mr.J-Arthur]

Ahh, I'm on my second margaritta for the night, and just heard on the news that there's a hurricane brewin' in the golf. I hope Oil doesn't get too pumped up by that news. Also, looks like 3M is cutting "hundred" of jobs (3M is a DOW stock). Newspaper is also pumping up the negative CPI numbers...Walmart (DOW stock) reports 17% rise in profit...do that's good lol.

Sooo the news is mixed.

Anyone ever use Global Futures?

 

[francisfinley]

my charts still point to a move up 12000 before we break for new lows. below are my weekly and daily charts, feel free to comment

Whilst possible as we are in an uptrend, im still wary that oil has near bottomed. I dont think it will go through the $98 level they are talking about, that said if it got as low as $98 then you would expect the DJIA to get to 12000 level. One other thing i have noticed is looking at the companies themselves we are flat in both the DJIA and FTSE and just wonder if we have reached a crossroads where the only positive cue is oil....

so yes up but we are flattening out due to the levelling of oil.

any thoughts?

 

[Pat494]

so yes up but we are flattening out due to the levelling of oil.

any thoughts?

Talking of flattening out - that calls for another can of lager

think your'e right though - start of an uptrend - the question is for how long !

 

[Mr.J-Arthur]

Talking of flattening out - that calls for another can of lager

think your'e right though - start of an uptrend - the question is for how long !

The Wallstreet Journal is playing up the USD rally news...11 striaght days of rally goodness, biggest rally for USD in years.

Whatever happens, I would like to see 100-250 points in a clear direction (doesn't matter so much in which direction!) I am very excited for another week of good trading...hopefully the setups will provide some decent points.

Keep watching that oil, it's going to clue us in, as well as USD and the individual DOW stocks.

Pat-You ever drink Red Stripe? It's a favorite of mine!

 

[francisfinley]

again, looking flat, looking down in oil, ftse, djia, gold @ 09.26 GMT

 

[Pat494]

Pat-You ever drink Red Stripe? It's a favorite of mine!

I haven't heard of that one JA. Maybe not this side of the pond yet ?

 

[francisfinley]

I haven't heard of that one JA. Maybe not this side of the pond yet ?

yeah we have it! its a nice beer! check the supermarket out most of them have it... sainsburys has an awesome selection of beers..

 

[tantra]

critical level @11712 on the dow.. triple top. If it does not break that, its going no where...!

 

[Pat494]

Been in for a short ( 9.51 am ), moved my stop up and got stopped out. Then it fell again. I keep doing that - moving my stop up too close !

Oil up pushing indexes down

 

[Pat494]

Anyone see the bottom yet ?

 

[Pat494]

Anyone see the bottom yet ?

Must be very close now ?