Dow 2008

[firewalker99]

FW,

Just in:

SAN FRANCISCO (Thomson Financial) - MBIA Inc. told Fitch Ratings Monday that
public information alone is not enough for the agency to maintain ratings on the
bond insurer in the future.

Looks like I'm on the right track.

Grant.

Grantx, you don't need to convince me the news is bad
I believe we will go significantly lower, but first a bit more up I reckon.

Good trading.

 

[grantx]

FW,

"you don't need to convince me the news is bad".

Maybe we need to convince others. Let's see how the dollar and Asia overnight fares.

It may be the case US institutions will support the market, being in their interest. However, we need to see European reaction - I don't think they'll buy it.

The final straw? When President Bush appeals to "patriotic duty".

Grant.

 

[Hook Shot]

Good call HS, not too sure how much higher the FTSE will rise !

thx
interesting one bp....
I'm puzzled that ftse hasn't joined the party to any great extent......
Does it know sthg we don't ??
Dow strenght/Ftse slight uptick don't make sense... it's been profitable playing ftse catchup but.... weird!

 

[grantx]

HS,

Where are you getting the FTSE data from?

Grant.

 

[firewalker99]

so fwiw I suspect 12600 to be something of a hurdle that's too high to take for the time being

images say more than words

 

[dans_ya_man]

Even if 12600 is broken I feel it will be short lived as the next resistance target area will be Jan/Feb highs at the 12800 area. If this is area is reached I expect to see a big sell off

 

[Hook Shot]

HS,

Where are you getting the FTSE data from?

Grant.

Ig index.....

 

[Hook Shot]

4 the record

Is there some value in ftse cash given dow move today ?? Ftse called up +21 (dow cash 12327+200 odd)
-just a thought not trying to influence anyone...

Ftse hit +200 as it shot out of the gate.... satisfying... still long .....

 

[Hook Shot]

Nice call fw ........

The upside is already under way
12600 definitely a nice target for the next week or so.

........and for those who don't follow slow stochs(daily) we are now over 80 on both dow and spx aND IF HISTORY is any guide we can get ready for the move down....... not giving a timing on this one but soonish ....

Would love new swing high first.......... but failed new high will do ..... i.e in IDEAL World want a rally to as close to 12600 as we can get (or better) then .....

EDIT:last 5 or so times slow stochastics topping well over 80 often brings in 500+ selloffs.......
Peraps someone can show with StockCharts.com - Simply the Web's Best Stock Charts or sthg.....? I'm no good at graphics.

 

[bottomleyp]

........and for those who don't follow slow stochs(daily) we are now over 80 on both dow and spx aND IF HISTORY is any guide we can get ready for the move down....... not giving a timing on this one but soonish ....

Would love new swing high first.......... but failed new high will do ..... i.e in IDEAL World want a rally to as close to 12600 as we can get (or better) then .....

EDIT:last 5 or so times slow stochastics topping well over 80 often brings in 500+ selloffs.......
Peraps someone can show with StockCharts.com - Simply the Web's Best Stock Charts or sthg.....? I'm no good at graphics.

Thanks for that gem, never new that free site existed. how reliable is that signal, >80 ?
I see you have done well on the FTSE, good call.

 

[firewalker99]

Thanks for that gem, never new that free site existed. how reliable is that signal, >80 ?
I see you have done well on the FTSE, good call.

Bigcharts also provides free charts bottomleyp. And Prorealtime. But most of those are only EOD data.

 

[bottomleyp]

Bigcharts also provides free charts bottomleyp. And Prorealtime. But most of those are only EOD data.

Thanks FW, the more free TA Analysis, the better.

 

[firewalker99]

Thanks FW, the more free TA Analysis, the better.

You'd me amazed how much of the good stuff is available for free. Or for a very low price.

 

[Hook Shot]

Slow Stochs 2

Things look bad but everyone can see and hear that....... :cheesy:

Like you said we do expect a rebound and this "could" be within 48hrs ..... At least I'm hoping this little rally pre Euro sesh fails and we get break of 11635 (and 1270 spx). That would then put me on countdown for a bounce/rally of some sort.... maybe a decent one .... who knows Bill McLaren has mentioned we should be on the look out for a potential false break to the downside and slingshot recovery .....we'll see

My guide here is (A) slow stochastics are pretty low ....well under 20 .... the sort of levels which have normally brought in a low within days...(B) Nikkei forms hammer overnight dipping early and finishing strongly - leading indic ?
(C) We are in that time zone for a low - I mentioned first or second week of March some days ago. We also have backing from ajaskey who sees a low around the middle of the month give or take.
(D) You would expect some kind of reaction at the lows of the year .... but everyone can see that so .............

Whatever I think ......... things are interestingly poised... Bearish swingers probably need a rally intraday which fails ......... but 4 me playing the percentages would say a low maybe within 48hrs ...? Lets see

Edit : Speaking of crashing and burning ............. I see Mr Spitzer has got issues .........

Slow Stochs calls the low in Spx*.........

 

[Hook Shot]

Probably means nothing.but 8 years ago yesterday the s&p500 hit the highs of the bubble and now we are still below that level (under water by more than 10%)...... after all these years...

But seriously ..........the spx had an 8yr anniversary on monday which might be interesting... just another piece of a jigsaw or a red herring ???

 

[jonnyy40]

I'll say 13750 from here.

 

[firewalker99]

I'll say 13750 from here.

any basis for that claims, or did you feel like you just wanted to contribute something?

 

[jonnyy40]

Well you can see that's where it's going but not tomorrow of course.I said before I don't trade like that but it's good for fun.

 

[firewalker99]

Well you can see that's where it's going but not tomorrow of course.I said before I don't trade like that but it's good for fun.

Ok, time will tell... but I'm inclined to say "I'll eat my shoes if it does go to 13750"

 

[catracho]

I'll say 13750 from here.

could be...any time frame? However there are a few hurdles to get past first...12600, 12700, 12850 :!:

see chart