Dow 2008

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What the hell was that all about yesterday?

All my earlier gains got totally wiped , then some, went into self destruct mode

I was pretty certain we were going to hit 11000, especially after the bill was passed.

Instead we made a new low, totally baffled to F**k.

Pretty sure this will be the low for some time now and expect a strong Bull rally Monday.

I`m sure there are plenty of people out there today licking there wounds

dans-ya,

Well, if you were a big money man and had been spooked by the "non-farm" numbers (much, much worse than expected) and you knew there was an army waiting to jump on board a widely expected "yes vote" rally later on in the day, what would you do.

good trading

jon
 
Barjon-You got it man! The big money controls the market, and they LOVE to cut the little guys to shreds by selling off on a major opinion that the markets would rally! Blowing through a few big stop orders and the momentum builds and WHAM! Down 500 points!

It was over sold and it cannot remain oversold forever, so expect a bounce on Monday. I'm not saying we'll rally huge, but it won't be constant selling. The Bigs know the bulls/longs are very FEARFUL now, and when there's fear, there's money to make.

Chilltrader-You use that 200 SMA? It seems pretty consistant.
 
Markets don't move in a straight line. So expect a pop, eventually. Monday or tuesday. It will need to pop back up to the 200 SMA and then show resistance again, in order to sell off.
 
sorry mr j arthur, that is rubbish. the market doesnt NEED to do anything. you can work out probabilities and give yourself a better chance but that is all. when fear takes over support and resistance get blown away.

personally what i believe we are seeing is the beginning of capitulation in the markets and maybe on the street too. a bank run is poss despite guarantees. picking small bounces in a sell off like this is asking for trouble. the trend is down but i think we are perhaps nearing the bottom
 
The threat of banks being nationalized is a very real possibility.
Commies like Jack Straw must be rubbing their hands in anticipation.
 
I do not know how to satisfy Dow but i think
9000-9500 points would have been enough to make Dow satisfied. :mad::mad::mad:
 
Hi guys,

I'm back to claim back my pips from Friday.

Long @ 9803, SL @ 9750. I know risky long SL easy come easy go... :whistling
 
yes load up on Barclays and LLoyds

On the +ve side.. if I go long 1 PP on DOW the max I can lose now is 9800 GBP :cheesy:


I'm like a hawk on the banks. Would very much like to jump on board but timing... :whistling


Barclays more so than Lloyds since they've made two big purchases.

If Barclays hits 280s again I'm in. :rolleyes:
 
I hope, line 9707 will hold it.. :help:

dow106gqy7.png


dow106yqy2.png
 
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