Where is the Dow & others heading in 2005?

[mark twain uk]

dc,

good advice, went long on both sp and dow this morning and just closed them both for 50+ points each

we need to discuss about the case of reds in the new year

 

[dc2000]

No worries glad you got some pennies I took half at 47 and turned half with a close stop dont want to give too much back if it goes pear shapped

 

[mark twain uk]

turned half = reversed the position?

 

[dc2000]

yes

finger on the button though any higher than 48 and I jump at 800 I will put hard stop at breakeven
and limit at 100 points

 

[houdani]

houdani,

"im completely convinced we`re heading above 11000" is such a bold statement, only the youth could give you such confidence, carry on, don't let them grind you down

never underestimate the power of positive thought mark, regards.

 

[dc2000]

right then stop order set 10 points in profit and limit at 100 points and Im off to pubski

 

[mark twain uk]

houdani,

glad you could see the bright side of my posting, thank you for not using offensive language.

I used to be absolutely, totally convinced of my positions and kept losing positions and added to them and always managed to get out of it. Until one such losing position went totally, absolutely beyond any limit and I had to close out before I was wiped out. I lost a small fortune and learnt a big lesson. Since then I am not completely convinced about anything. Instead, I try to use probabilities. If I think that "It is most likely" that something will happen I will risk less money than if I thought "I am completely convinced"

 

[macbonzo]

Good post. You cannot be absolutely convinced of anything. It is important to know when you get lucky.

 

[Quercus]

I take my hat off to you dc - great trading, and a nicely balanced life too!
I trust, that is, that your local landlord offers snacks for consumption in order to maintain "balance"!
I took 30 pts on half and 40 on the other half on the way up, then stepped out of the market for the day!
Cheers
Q

 

[Pat494]

houdani,

glad you could see the bright side of my posting, thank you for not using offensive language.

I used to be absolutely, totally convinced of my positions and kept losing positions and added to them and always managed to get out of it. Until one such losing position went totally, absolutely beyond any limit and I had to close out before I was wiped out. I lost a small fortune and learnt a big lesson. Since then I am not completely convinced about anything. Instead, I try to use probabilities. If I think that "It is most likely" that something will happen I will risk less money than if I thought "I am completely convinced"

Doubling up or down is probably one of the commonest AND most costly of errors. Not many folks come back after a big loss. Takes courage

 

[dc2000]

Cheers Quercus Im afraid he doesn't offer snacks but there is a very nice Chinese 150 yards from said watering hole
So you get re-hydrated excersise and nutrition all in one evening

 

[mark twain uk]

the ftse and the us markets are going in opposite directions, that's interesting, I favour a false breakout on the part of the ftse

 

[Slim Sladey]

MT

Do you mean opportunity to short FTSE and long DJ?

 

[dc2000]

Well this is nice and sedate

Someone better open a 6pack o wupass cos I want 180 points today

and thats not in one direction

 

[mark twain uk]

ss

you could say that, but I am not that brave, I will just short the ftse, though if the SP finds support just above 1250 it may be worth a flutter with a tight stop

 

[Slim Sladey]

Is that the bottom line... cos DC said so!

 

[dc2000]

As good a reason as any

but if we dont get near 680s and 800s I will conceed my calculator may need new batteries

 

[Slim Sladey]

Hope you got that that was meant to be a joke - sounded like you were a wrestling fan :!:

Looks like today has been quite odd so far, rather boring

Slim

 

[dc2000]

Yup taken as

Its amazing what you can pick up watchin TV wiv DCjnr

 

[dc2000]

I wonder if we could time a move, 17:26