US Indices intraday trading - JULY 2003

[SUNSEEKER]

Steve, what I am trying to do is to tie the path into something that I know, so the waves are in certain numbers when possible like ABC, or 1-3-5 etc..

the 268 is what I had in mind today, but although I said the market would be choppy and end in negative, I am disappointed we are not getting more out of the "up" waves....

 

[SUNSEEKER]

Z, sorry, forgot to answer, I am flat on the side, not doing anything...I will be honest with you, I got signals to go long here with a stop below 990, but with the SPIRAL looming, I just dont think i want to be anything but short....just a gut feel, but i have like everyone else been pusished when I didnt listen to the gut

 

[SUNSEEKER]

chester, how are you playing today?

 

[chester]

Hi. I decided I wasn't going to trade the moves today.....but I have. Unfortunetly I made a poor trade earlier on, losing 20 points. I'm presently short from 9285, which is looking good so far.
I think I'll either take the points very soon or leave a stop. I don't intend trading tonight.

 

[2468steve]

Tom,
thanks.Looking at a chart of an older path I think I see what you mean about "certain numbers"
Still holding my Dax short from highs this AM.Doesn't want to go much higher.

 

[SUNSEEKER]

Steve, nice play...that Dax can be a really $$$ spinner or a major headache if on the wrong side

where is CJ this evening

 

[SUNSEEKER]

Steve, you have held it since this morning...you really are a patient man, can I buy some of that patience?

 

[Skimbleshanks]

bottomdollar - the reason you got that message is because you've already voted for me, and the system just permits one vote.

 

[chester]

SS- I noticed you said you put a short in with relation to the path, actually the path at 16.07 looks like it should be at the start of a nice up move ?

 

[SUNSEEKER]

chester, there was a kink there and that was what I played for. I felt that the waves up today was dubious and the waves down however small was powerfulll... I was in profit almost immediately and it paid well...I only played it for a 3-lot because I felt it could be risky...

hope this helps Chester...Are you still short?

 

[chester]

Yes....just.

 

[2468steve]

Well,it wern't going up.Hit it's highs of recent weeks and backed off.Same as CAC,couldn't get thru 3180.Little upside risk unless another steller US performance.
Will swap some patience for lunar enlightenment!!

 

[zcaprd7]

Patient - I've been building up a Oct dax short since last Thursday!

 

[zcaprd7]

Who#s up for a 19:00 short then 8)

 

[chester]

Closed short at 9245. Got to go out. It'll probably tank now. Took 40 points.

 

[SUNSEEKER]

Steve, well played

Z, where is your stop please?

 

[SUNSEEKER]

nice play Chester,

Z. I might put an order in but I am going to the TIVOLI tonight ( CJ,rememeber the TIVOLI ?) so I wont be here...

Sun

 

[zcaprd7]

Tom - I'm using 9330 on the Dow as my stop on the Dax.

Went for Oct Dax because its higher than the daily quote (unlike all the other indices) and more generally:

1)the german economy is cack
2)their currency is cack
3)the Dax is full of cack (and a lot of the rise in friday were due to specific dow stocks)

I was thinking of holding the position till expiry - however you have made me nervous with all this talk of another wave up on the dow?

 

[SUNSEEKER]

Sorry Z, only trying to help you make ££££££, and I TOTALLY agree with all the scheize and Cack you are talking about...there are people in the know who says there unemployment in running into the 12%s...scary...

but anyway, it is a volatile beast so be carefull

 

[zcaprd7]

Me too!

Basically I'm trading the dow/S&P but using the Oct Dax as the instrument of choice (I wanted to be short for spooky Tuesday as well).