Dow Intraday Charts 9 Feb - 13 Feb

[tradesmart]

SteveChump - both of the moves that I believe you refer to, were breakouts from triangles- very often the third touch on the top line and 'take off'.....!

I trade them as above and so do many others, which accounts for the powerful reaction imho.........

ps - apologies for the 'off white' chart........

 

[ChartMan]

How's this?

 

[chump]

Yes, that makes sense, people queuing up for the breakout, and of course that would explain the subsequent blow off with people covering...too busy trying to construct a new system to look up and see the wood for the trees...nice little trades.

Cheers

 

[tradesmart]

CM - which bleach do you use..........?!

what's that powder that "washes whiter"...... :cheesy:

ps- I'd have to wear sunglasses to work on a chart like that....

 

[ChartMan]

Sorry, too much bleach..... did that one in paint shop pro by splitting image to C+M+Y+K
Looks ok now.

 

[Newtron Bomb]

Looks good ill give that a whirl

NB

 

[JE2000]

Too white. prefer the grey. Buy a laser printer. no problems here with printouts.

 

[china white]

CM - why did u start experimenting with colours, pls tell me m8? the way it used 2 b all along was quite nice imo

Don't panick- I'm trying to get TradeSmart's charts so that they can be included in the weekly summary and will print out.Mine will stay the same. :cheesy:
CM

 

[JE2000]

the original is always the best

 

[ChartMan]

Perhaps I should issue a 9 point warning to TS for blatant colour prejudice...We'll get there.....
Still movin up this mini channel.Didn't want to break the T/L.

 

[ChartMan]

Pick your way out of that one. Just a few moves of 20+ and that's it and catching the news was barely worth it.The blow off bottom wasn't too hard to catch, but I was surprised at the lack of recovery speed.Easy to spot the Inv H&S failure as the second 597 neckline failed to make it higher.
T1 made it, just...

 

[One Eyed Shark]

Chump

Are you suggesting that mysterious forces are at work manipulating prices in the market with funds supplied by the Fed. :cheesy: :cheesy: :cheesy:

Take a look at thishttp://members.rogers.com/fallstreet1/plungeprotection/plungeprotection.html

 

[chump]

Interesting link.Can't say how much credence I put in it. The American market is an awfully big beast to feed if govt. intervention was desireable.

I wonder if anyone has ever reasearched the possibility. That is, are there say a number (possibly few) stocks that if given a nudge would create a disproportionately large amount of momentum.
A type of 'snowball' effect. Anyone know of any work done in this area ?

I remain suspicious of the 'miraculous' appearance of momentum when I can see precious little fundamental support for such an event either in terms of earnings/yields , or generally other 'good' news. Where such momentum comes from I care not. I do however care if it's only there to create a squeeze.

As an example, I am unimpressed by the pre xmas surge that brought us to this point, and judging by the amount of churning so are a lot of other people.
Cheers

 

[Hooya]

they intervene everyday:-


"To implement monetary policy, short-term repurchase and reverse repurchase agreements are used to temporarily affect the size of the Federal Reserve System's portfolio and influence day-to-day trading in the federal funds market."

 

[Newtron Bomb]

Hiya folks

Not read these thread for a long time and usually just scroll down for CM's bits due to a variety of reasons and time constraints.

I read last week thread with keen interest. There is a wealth of knowledge and helpful traders here.

I salute you all new or veteran traders.

Newtron Bomb

 

[tradesmart]

NB - as a result of yesterday's educational dialogue - I am now 'up to speed' (nearly) with chart colour schemes.......

YOU WILL NOTICE THE DIFFERENCE.........!!!

Regards and Good Health to you....

 

[chump]

CM,
I don't know what you will make from the seminar coming up,but I hope it's substantial. If I wasn't such a tight Yorkshireman I would pay the seminar fee regardless of attendance.

I have pored through what must be weeks maybe months of your time spent on posts, and I could now trade the Dow cash according to a system and be well in the money.

I ALMOST feel guilty sucking your experience /skill that way.

For any would be critiques of the above seminar "the labourer is worthy of his hire". As a footnote for any who disagree with my view save us both the time and post on something we could agree on.

Cheers

 

[chump]

"Are you suggesting that mysterious forces are at work manipulating prices in the market with funds supplied by the Fed."

Well that was a piece of good luck and fortuitous momentum on the Dow...how about a pint on a double top blow off. Some nice reports out tomorrow in the US that could take the blame

Cheers

 

[tradesmart]

A nice example of the 'Greenspan flip-flop' today in it's classic, and, I hope, tradeable form........

The first spike up indicates true direction/then a 'fake' pull back/then up,up and away and 10700 is in the sights again....

(not my idea btw - this phenomena has been reported by Tom Hoogaard previously......)

ps - hope the chart is 'all white now'! - the black background from my trading screen is more effective imho, but I defer to the judgement/requirements of others.......

 

[chump]

You've just seen a 3rd and we are now in a 4th correction I think.

For non wavers it's a ledge...think that's 6 - 10 bars on my 5 min chart

Cheers