Dow 2008

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OIL up? shouldn't dow be going down when oil is up? This market is becoming quite erratic...

They are completely dislocated now...the rules have changed. Tomorrow we'll battle it out, much like today I bet. My daily 1 yr chart is showing the 28 crossing up and over the 50, bullish. Or possibly range bound...less likely I think.
 
Mr.J-Arthur said:
OIL up? shouldn't dow be going down when oil is up? This market is becoming quite erratic...

They are completely dislocated now...the rules have changed. Tomorrow we'll battle it out, much like today I bet. My daily 1 yr chart is showing the 28 crossing up and over the 50, bullish. Or possibly range bound...less likely I think.
Click to expand...


the dollar and oil are roughly correlating - think geopolitical is fuelling it.
the dollar and gold are the most closely correlating this morning.


dollar is up this morning - steadily rising since 8.06
oils is down off morning high @ $121 - touching highs just before 8 GMT
gold is $4 down @ 833 - sharp sell off at 8.04 GMT - profit taking plus rise in dollar.

FTSE up 15 or so points...
 
francisfinley said:
the dollar and oil are roughly correlating - think geopolitical is fuelling it.
the dollar and gold are the most closely correlating this morning.


dollar is up this morning - steadily rising since 8.06
oils is down off morning high @ $121 - touching highs just before 8 GMT
gold is $4 down @ 833 - sharp sell off at 8.04 GMT - profit taking plus rise in dollar.

FTSE up 15 or so points...
Click to expand...

oils just dropped through support... hopefully dow can turn it into gains


this is turning into a very interesting day!
 
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Dow is looking good, this should be a good day for Longs. Premarket gains are looking great, so I hope it continues.

No position yet, I'm waiting for open.
 
Mr.J-Arthur said:
Dow is looking good, this should be a good day for Longs. Premarket gains are looking great, so I hope it continues.

No position yet, I'm waiting for open.
Click to expand...


the situation has just changed, oil has come back up again so hold fire. i would say long but keep an eye on oil.. got to 119 and then came back up..
 
You're not selling into the strength r u? Let the profits from long trail...it's not reversing quite yet!
Ouch bread man, r u short?
Go long bro. IMO (I learned yesterday to follow your own system, so it's just my own advice! bulls are here! :)
 
breadman, you have balls if you're going long this high up...but it should* pay off. I'm looking for 650 personally...
 
Mr.J-Arthur said:
breadman, you have balls if you're going long this high up...but it should* pay off. I'm looking for 650 personally...
Click to expand...

no I am not going long all I have done is take the stop loss away as I think it could go to 11650/11660 where I will add to my short.
 
a close above 1935 on NQ is not a good sign for the bears on the daily, reacting there or thereabouts
 
Hi guys,

Just had a look before leaving work and...

Gone short @ 620.

Only because it has broken out of a long trend line and because it is Friday I can't see people leaving open pos before weekend.

Expecting some pull back after such a long continued rise.

I'm 50/50 on this with not much conviction either way. See what happens by the time I get home.

Good luck everyone.
 
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