Don't know, but I've been thinking the Dow should really be below 12000 for a month.
Take it as it comes, mate. Good trading, Phil.
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Take it as it comes, mate. Good trading, Phil.
The lines I'm monitoring with DJIA.
Risk Reward Ratio: DJIA Update April 11, 2008
Check the sidebar for update on what levels the line will be crossing for the day
DJIA Short Term Look
Risk Reward Ratio: DJIA - Short Term Look
Risk Reward Ratio: DJIA Update April 11, 2008
Check the sidebar for update on what levels the line will be crossing for the day
DJIA Short Term Look
Risk Reward Ratio: DJIA - Short Term Look
firewalker99
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All good questions, but I don't think there is "one universal type". It all depends on the context and the situation (trend day vs range day). A lot has to do with what the trader's ambitions are. Does he want to make one trade a day and try and stay in as long as possible or does he want to try and trade every little swing and retracement? Is he happy with a predetermined target after which he calls it a day or does he feel the need to squeeze out every point of the market?
Also, the fact that you can scale in to a position (I've yet to see anybody on this forum actually use that method) and scale out gives you several combinations to build a trade management strategy from.
There was a poll about all this a while ago, in a thread I started. Anybody interested in debating exits might enjoy this.
Atilla
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Hi everyone,
The daily trend line S&R lines clearly is in play. Here are two daily charts - first from last week and second showing this week. The resistance is clearly visible and also shown by the R2 line from the pivot points as being at 12729. I think we topped out around 12740.
On the weekly charts if the medium term (blue line) support is breached around 12000 then I think we are likely to test 11500 regions again before knocking on 11000s door.
What is worrying people imo is that coupled with the banking financial crises - subprime losses is the stocks and shares where poor earnings and talk of recession will lead to flight of money to cash and further depressed indeces. Reduced PE and dividends can only mean people dumping portfolios. Talk of value in the markets are total misrepresentation.
Investors Chronicle has written an article where they state buidling and property companies valuations are falling below their asset prices and now may look like a good buy. It begs the question who has determined the asset prices of these companies and at what point? When property prices are predicted to collapse by 10-20% why not apply the same reasoning to these companies.
The recession is yet to bite us as unemployment figures not as bad as experienced in the past and so worst is yet to come imo. Things can only get much worse...
Hence, I reckon if this trend line (two thin black lines) is in play then we are ogoing down to 12000 regions again before any support kicks in. 12000s will be tested and if the medium term trend lines (blue line) fail to provide support we will go down to 11500 again very soon.
Good trading everyone...
The daily trend line S&R lines clearly is in play. Here are two daily charts - first from last week and second showing this week. The resistance is clearly visible and also shown by the R2 line from the pivot points as being at 12729. I think we topped out around 12740.
On the weekly charts if the medium term (blue line) support is breached around 12000 then I think we are likely to test 11500 regions again before knocking on 11000s door.
What is worrying people imo is that coupled with the banking financial crises - subprime losses is the stocks and shares where poor earnings and talk of recession will lead to flight of money to cash and further depressed indeces. Reduced PE and dividends can only mean people dumping portfolios. Talk of value in the markets are total misrepresentation.
Investors Chronicle has written an article where they state buidling and property companies valuations are falling below their asset prices and now may look like a good buy. It begs the question who has determined the asset prices of these companies and at what point? When property prices are predicted to collapse by 10-20% why not apply the same reasoning to these companies.
The recession is yet to bite us as unemployment figures not as bad as experienced in the past and so worst is yet to come imo. Things can only get much worse...
Hence, I reckon if this trend line (two thin black lines) is in play then we are ogoing down to 12000 regions again before any support kicks in. 12000s will be tested and if the medium term trend lines (blue line) fail to provide support we will go down to 11500 again very soon.
Good trading everyone...
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My reading of the dow at the mo would be as follows
Technical
cycles all over the place at the mo
weekly cycle rising to previous turn level
daily heading down towards previous turn level
cycles/technicals hard to read at the mo. (volatility very high & and market going through a fundamental change, banking sector)
weekly trend down (very hard to bet against this longer term (months))
Fundamental
GE's results surprising market last week, market worried about earnings now in all sectors not just banking.
If further results are inline with GE's, down she goes to make new lows (or at lease test old ones), if they surprise in other direction, large spike up in market (volatility will stay high either way)
just my take
belflan
Technical
cycles all over the place at the mo
weekly cycle rising to previous turn level
daily heading down towards previous turn level
cycles/technicals hard to read at the mo. (volatility very high & and market going through a fundamental change, banking sector)
weekly trend down (very hard to bet against this longer term (months))
Fundamental
GE's results surprising market last week, market worried about earnings now in all sectors not just banking.
If further results are inline with GE's, down she goes to make new lows (or at lease test old ones), if they surprise in other direction, large spike up in market (volatility will stay high either way)
just my take
belflan
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Pat494
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I see Henry Paulson is still advocating a strong dollar !!!!!!!!
That imho shows how much he knows about economics. When US manufacturing has and is voting with its feet to go elsewhere he is still repeating what he said a year ago. He was wrong then and is wrong now but a year later. A strong dollar makes the USA less competitive. The band is playing on regardless with the same old tune while the Titanic sinks !
Maybe Bush will come up with a PR campaign or something equally useless.
That imho shows how much he knows about economics. When US manufacturing has and is voting with its feet to go elsewhere he is still repeating what he said a year ago. He was wrong then and is wrong now but a year later. A strong dollar makes the USA less competitive. The band is playing on regardless with the same old tune while the Titanic sinks !
Maybe Bush will come up with a PR campaign or something equally useless.
firewalker99
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250 looks within reach ...
crack 300 first.
it seems to ranging at the mo, are we gonna break up or down? or will it stay this way all day do u think?
firewalker99
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well, like I said, I think 250 is very likely and the potential is to the downside imo...
is there any other news events out today that could sway this market?
firewalker99
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yeah i did thanks, nothing there, ill check cnbc
funny that the news out today has not been that bad and still the market is flat, maybe this is further evidence we are heading south when it breaks or maybe im just wishing and hoping and chatting more rubbish
firewalker99
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I wouldn't exactly call this market flat, we've moved down 75 points in about 30 minutes earlier.
brutusdog
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looks like back to 330 before another go lower...
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