Dow 2008

[smbtnt]

Dow short filled, looking for s/r switch at 538.

Out for a small loss.

 

[firewalker99]

short 12550 fut, stop 70

 

[gilligullu]

Short 12557, stop 575

 

[Hook Shot]

One proviso.......

So far we are still in pretty good shape ... considering
Pullback has been mild (wrt points, retrace and time) so upside still okay.... perhaps for one more dart at this weeks highs. To change my mind the indices need to move down hard and with Dow now called down only around 40 from Tuesday's close (and +100 off wed lows ) shorts are not that uncomfortable should things change.

Bears have yesterdays early failure/rejection to hang on to.... so for them we must get another failure under 622.....then new lows... I'm now neutral watching and waiting..... the bears made me think again

 

[firewalker99]

I thought the major top was formed 6 months ago

I'm still flat... would hate to see a short taken out by a quick spike on the open

Out for a small loss.

I think you just had bad luck smbtnt...

 

[CJIA]

My take on today if the cash goes through 540 on the open then the Bulls will have another go at 575,if it stops there,we will test yesterdays lows and then it could be interesting.
Still short

Through 515 then i can see 465 if it doesnt bounce here of course.

 

[Hook Shot]

575 ..nice work CJIA !

It looks like another early bird rejection.... it's failing where it did in the overnight sesh.....
S&p futs must weaker than dow ...

 

[gilligullu]

Stop moved to 545, hope it goes under 510

 

[firewalker99]

Through 515 then i can see 465 if it doesnt bounce here of course.

I think a small bounce in the midpoint is to be expected... let's hope it doesn't bring us back to the open high.

 

[gilligullu]

We are hovering slightly below the 12540 with one hour to go till the open, so that's looking good so far. I hope it doesn't move much lower now, so I can get in a nice short around 12540 when the markets open.

I think a small bounce in the midpoint is to be expected... let's hope it doesn't bring us back to the open high.

It has moved exactly the way you said yesterday!!! Amazing!!!:clap:

 

[firewalker99]

short 12550 fut, stop 70

stop set to breakeven

 

[CJIA]

Similar to yesterdays 5 min chart but could be a spike up from here i think.
Out of short waiting to re enter

 

[firewalker99]

It has moved exactly the way you said yesterday!!! Amazing!!!:clap:

yep it doesn't get any better than this

well done on the short btw! excellent entry

 

[firewalker99]

short 12550 fut, stop 70

out at 510 for +40

It went slightly higher than I expected it on the open - up to 568 - obviously to catch those who were short. Glad I waited till the open to put a short on. On other occasions waiting cost me to miss a perfectly valid trade though.

 

[gilligullu]

yep it doesn't get any better than this

well done on the short btw! excellent entry

Thank you! Out at 506, getting abit scared now..

 

[firewalker99]

Thank you! Out at 506, getting abit scared now..

wow, you managed a better entry ànd a better exit than me
well done

Respect!

Fwiw, I still have 465 in mind as a target for later on (- unless 510 proves to be the reversal point).

 

[Hook Shot]

Similar to yesterdays 5 min chart but could be a spike up from here i think.
Out of short waiting to re enter

Looks like S&p futs forming an early cap below 1360 (underside kiss) so ..... it will need to be a spike to invalidate what appears to be a sign of weakness.

I'm watching s&p futs for direction or is that distraction ??

 

[firewalker99]

Thank you! Out at 506, getting abit scared now..

This even looks like a better trade now. Superb entry & exit gilligullu.

Welcome back bulls!

 

[CJIA]

Short again stop on hourly 20 ma

 

[firewalker99]

Looks like S&p futs forming an early cap below 1360 (underside kiss) so ..... it will need to be a spike to invalidate what appears to be a sign of weakness.

I'm watching s&p futs for direction or is that distraction ??

No distraction, imho confirmation that there's more to come from the upside today.
Strong bounce off support from yesterday's lows on the S&P!

and just look at the NQ, it broke above resistance from 1845 :-0