Dow 2008

[gilligullu]

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).

Thanks but it was all beginner's luck. And I think it was because I am using the IB webtrader, so the data feed is slightly slower, and I got lucky. Cos I try to close at 509~~

 

[firewalker99]

Thanks but it was all beginner's luck. And I think it was because I am using the IB webtrader, so the data feed is slightly slower, and I got lucky. Cos I try to close at 509~~

509 is still perfect gilli, may I ask why exactly close out there? or was that a predetermined target?

Strange nobody went long at 510 or little after...

 

[black bear]

No a Really Major Top

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

No a Really Major Top = months not a May 06 blimp

 

[gilligullu]

509 is still perfect gilli, may I ask why exactly close out there? or was that a predetermined target?

Strange nobody went long at 510 or little after...

FW, I was hoping it be able to go below 510. which is a support I got from movement this morning, when it reached that point, it went -/+ 5 pts for a while. Got scared, thought better to bag the profit now than to wait, so i exit.

I guess this counts as predetermined hahaha

 

[firewalker99]

... unless 510 proves to be the reversal point).

V-reversal... you don't see that very often

 

[CJIA]

Wow

 

[firewalker99]

I'll put it on the line here and see that short of a miracle we're going down like an express elevator today.

it's going like an express elevator indeed, only in the opposite direction

 

[barjon]

ye olde 3pm (our time) reversal strikes again

 

[CJIA]

ye olde 3pm (our time) reversal strikes again

Lets have another one then a 4pm one

 

[firewalker99]

ye olde 3pm (our time) reversal strikes again

I've often wondered how the timing element fits into all this...
obviously part of the greater scheme. I believe mr. marcus would be able to tell us something more about that :|

 

[gilligullu]

Lets have another one then a 4pm one

That would be nice! LOL~~

Did anyone catch the long? I was expecting it to go up 30 to 40 pts, but not 90!!But I don't know much.....

 

[firewalker99]

That would be nice! LOL~~

Did anyone catch the long? I was expecting it to go up 30 to 40 pts, but not 90!!But I don't know much.....

Not me, I exited and stayed flat. V-shape reversals are rare, but they do lead to strong moves... might be back for a trade later on. Before I even start to think of shorting, I want to see a lower high and a break of the demandline.

 

[gilligullu]

Not me, I exited and stayed flat. V-shape reversals are rare, but they do lead to strong moves... might be back for a trade later on. Before I even start to think of shorting, I want to see a lower high and a break of the demandline.

Ok, got that! Shall not consider doing anything until it is at least 625. Thanks!

 

[postman]

Is Ben arriving at his meeting this afternoon with a bunch of helicopters behind him .:cheesy:

 

[barjon]

I've often wondered how the timing element fits into all this...
obviously part of the greater scheme. I believe mr. marcus would be able to tell us something more about that :|

fire

ye olde 3 o'clocker give or take ten minutes is a good one to look out for. it often has a go around this time and failure to reverse when it's tried is a good directional pointer too.

i don't trade dow but always keep an eye on this time slot to aid entries/exits of my uk stuff since ftse usually follows dow

good trading

jon

 

[firewalker99]

Ok, got that! Shall not consider doing anything until it is at least 625. Thanks!

635 already :-0

 

[trader_dante]

LOL FW, thankfully for me, today was just an opinion and I didn't back it with real cash.

This up move is certainly interesting...but I'm still bearish until we close above 760.

 

[gilligullu]

635 already :-0

Was in the gents, missed that. Its nearly time to go home from work, probably will not do anything until I get home. But the movement has been getting bigger and bigger as I guessed from the flats in the past 6 days.

 

[Hook Shot]

How to mess up in public

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.

Came into today with reasonably clear roadmap....

Then totally confused myself and missed the trade/wave... I'd anticipated....

There's a lesson there somewhere........ thankfully there is another opp due after this rally...

 

[Phil Mibbutz]

Quick long from 608... If it doesn't go up a bit again now, we're doomed, so I'll be out ASAP if it looks dodgy.