Dow 2008

[Atilla]

SL moved to 11616. 10pips locked. Will let trade run till when ever...

Target reached. SL moved to 11626. 20 pips locked.

Ok target of 650 reached and I don't like giving pips back so pos closed at 11638.

32 pips is better than 20.

May go back in if R2 is breached but I doubt it for today. More likely to fall beyond these levels in absence of any fundamental news.

 

[Pat494]

id hold fire until were sub 11580 for a short.

looks like youre right

At 's back in the dough

 

[Atilla]

looks like youre right

At 's back in the dough

Thanks Pat, have to keep that embankment deposit on hold a little longer... :cheesy:

Looking at the 10min charts there is a super break out from BBands and MAs all turn up around 13:10. This point is also above the Pivot Point of 11475 so would have been a super long.

Looks like we have traced 38% back to 11631 on my 1 min charts.

I hope to see some congestion building up around 610-640 now and hopefully it will then take a another dive.

650-660 are danger signs for another push up but I'll wait and see.

 

[awices]

Have shorted the Dow earlier at 11660 and added again to my short position at around 11680 just now, with stop losses at 11735.

I think that today's rise is overdone and that the Dow will lose strength at around the 11700 level - allowing myself another 30 pips for a spike through.

Good luck to all those bears out there and here is to hoping all will turn out well!

 

[Atilla]

Have shorted the Dow earlier at 11660 and added again to my short position at around 11680 just now, with stop losses at 11735.

I think that today's rise is overdone and that the Dow will lose strength at around the 11700 level - allowing myself another 30 pips for a spike through.

Good luck to all those bears out there and here is to hoping all will turn out well!

Let's hope you are right Awices.

On long term weekly and daily charts there is the potential this rally will continue to 12200s which is a level foreseen by number of people, couple of months back and so far it's playing out.

I still can't help feeling this is going to break out to the upside for some more but perhaps not today.

 

[awices]

Where do you see the next resistance levels above 11700?

I seem to have some in play at around 11730 to 11750 and am going to raise my stops now slightly to around 11770.

If that level gets taken out too - I would not want to be caught short and prefer to be out the market and will review.

 

[nikwest]

looks toppy on a daily as is the top end of this range we have been in for ages

 

[Pat494]

oil down $2.70 - hence the rise, but I have shorted Dec 08 to catch any fall due to Gustav

 

[Atilla]

Where do you see the next resistance levels above 11700?

I seem to have some in play at around 11730 to 11750 and am going to raise my stops now slightly to around 11770.

If that level gets taken out too - I would not want to be caught short and prefer to be out the market and will review.

I use Pivot Points as targets and on the weekly charts I have

R2 @ 11800
R1 @ 11592
PP @ 11473
S1 @ 11317
S2 @ 11146

It does look like 700s very toppy for the day. Resistance 2 for the dailys was at 11656 and we have passed this point.

I expect some short term retrace but momentum is to the upside imo. I could be wrong though like this morning. What ever the case just flow with the trend...

 

[francisfinley]

im so mad. my platforms charts stopped working around the 11600 breakout. still not working....

grrr

some spaz has messed em up. did loads of work on em this morning as well.

 

[chilltrader]

probably something to do with the "triple witching" effect

normal service should resume tomorrow.

 

[breadman]

a close above 11685 today could mean we have a look at 11815 over the next week. I will look to short if we hit 11722. Their is resistance between 11707/11745.

 

[chilltrader]

Apologies for slightly off topic.

I'm looking for reliable DOW data (initially EOD will do) which I can put in excel format. Any links would be appreciated!

Thank You

 

[Pat494]

Well have to admit got it totally wrong yesterday
but today looks like down.

Even my Gustav bet got taken out - just by a fraction of a point. Nicely in profit now of course ???

 

[Atilla]

Well have to admit got it totally wrong yesterday
but today looks like down.

Even my Gustav bet got taken out - just by a fraction of a point. Nicely in profit now of course ???

I went short last night too and left it open. Closed for profit mid morning but now I'm flat. I thought it would fall further but don't trust it.

Will see what happens when they open and be interesting to have a look around 3 - 5 & 7 pm...

Good luck everyone...

 

[nikwest]

half day guys today . think cbot closes at 6 uk time

 

[awices]

I went short last night too and left it open. Closed for profit mid morning but now I'm flat. I thought it would fall further but don't trust it.

Will see what happens when they open and be interesting to have a look around 3 - 5 & 7 pm...

Good luck everyone...

Took profits at the NY opening at 11638.

Will watch from the sidelines now.

 

[Pat494]

According to Bloomers them Russians are threatening to switch off the gas and oil to Western Europe. That should spook the market.
They can't take a bit of criticism !!

 

[breadman]

if we dont hold this area around 11630 then we could be heading for 11550.if we hold look for the market to head for resistance at 11685, 11707, 11717, 11722,11735 or 11745.

 

[ralph197]

if we dont hold this area around 11630 then we could be heading for 11550.if we hold look for the market to head for resistance at 11685, 11707, 11717, 11722,11735 or 11745.

Anyone fancy that long @ 11550:|