Dow 2008

[Mr.J-Arthur]

USA congress looking to pass a 700 BILLION bailout. YIKES! That's my tax money man, not cool...

If passed, markets rally on the short term.

If declined, markets drop even lower and new lows will be put in.

I feel that monday will sell off, but it's merely a feeling. Nothing to validate it, yet. Except the fact that /ES and /YM are gapping down...which means there's some selling pressure. All indices are at their highs for the month currently...so I'm more likely to sell the tops instead of buying dips.

Is the fear phase over? That's the question.

 

[firewalker99]

If declined, markets drop even lower and new lows will be put in.

Is the fear phase over? That's the question.

Don't forget that many stocks, including some markets did not make new lows this time...

 

[Pat494]

Must be near the bottom but not quite ready to bounce yet

 

[Mr.J-Arthur]

I'm long at 1230 on the ES...Looking for that bounce and short covering. Looks like it's not pushing hard in either direction, but there's a chance to rally up near the opening price. It's a safe trade, I think

 

[Pat494]

safe-ish I reckon J-A
This is where patience pays off. Double bottom too

 

[Pat494]

I'm in too at 1232.1 for a long

 

[Pat494]

Not looking too good so out with a small loss

 

[Pat494]

short now

 

[Pat494]

short now

whack in the b/e stop and wait

 

[Pat494]

whack in the b/e stop and wait

that's the second b/e stop triggered today aaaaaaaah

 

[Atilla]

that's the second b/e stop triggered today aaaaaaaah

Hi Pat,

Just catching up with your posts I thought you did well to reverse pos and go back in short. Shame about b/e now as I market finally coming to senses.

On a FA level I have always said and hold the view there are only two routes out of this mess.

1. Rate rises
2. Tax rises

It's gotta be 2 now.

Twin budget defecits or what. I'm puzzled as to how we are going to pay for our PSBR at £90bn too. All this mess, how long it will take and when will markets ever stabilise again? Don't think so.

Worst scenario now is a prolonged and a very deep recession also impacting the Asian tigers.

A little bounce and then back to 10,000 I reckon.

Things can only get much worse.

 

[Pat494]

back thru the 1224 support level and soon be ready for another bounce imho

 

[Pat494]

back thru the 1224 support level and soon be ready for another bounce imho

Long

 

[Pat494]

Hi At
just seen your post.
I'm not going to let the politicos etc get me down with their incompetence.
Shouldn't affect us lot too much hopefully

 

[Pat494]

Long

in with the b/e

 

[Pat494]

in with the b/e

yup stopped me out at b/e again !!
must be putting the stop in too early

 

[Pat494]

yup stopped me out at b/e again !!
must be putting the stop in too early

As it continued down it was just as well I had a stop in, in hindsight.

 

[keano]

short 11188 - 20pip stop

 

[Dinos]

short 11188 - 20pip stop

Nice entry there keano, missed it myself, dohhh,

 

[Pat494]

that 1224 support level has held up pretty well so far