Where is the Dow & others heading in 2005?

[TheBramble]

Anyone other than a daytrader sees nothing but 'comfort' in where the DJ is right now. So much wittering about nothing....

If you're a DT - you've got a few days of scalping....

If you're longer term - look elsewhere...

 

[mpjordan]

If your spread betting the dow, you might be interested to know that Capital Spreads are now offering a 4 point spread on the cash and rolling cash.( ive no connection with the company, apart from having an account)
User is a tomarrow an exotic cross between a tomato and a marrow? : )
MJ

 

[Racer]

Anyone other than a daytrader sees nothing but 'comfort' in where the DJ is right now. So much wittering about nothing....

If you're a DT - you've got a few days of scalping....

I have been short on the Nas since end of Dec, so have watched it bounce like this quite a few times now.. but I still have my short. Nas wasn't that strong either.
Bouncing cos they won't raise interest rates so fast 'last time', what about the other figures today? Hmm, I will watch and wait, not worried.

 

[Racer]

Incidentally I think if you spread bet the daily dow you are mad! Have done some calculations and you are better off lighting a fire.. at least you will get warm doing that.

 

[User]

Racer I use to think the same thing. Recently though I have been trading daily spreadbets as the market hasn't been precise in direction. In all honesty you can make money from intraday or day trading but I prefer longer term as I believe I make bigger and better gains.

The other reason is I can't really afford to sit at the screen all day as it can be time consuming and pointless when I can make better returns and at the same time I don't need to sit at the computer all day.

 

[tradesmart]

If you're longer term - look elsewhere...

We're intrigued now Brambs - you've must tell us where to look.....

(and what's the DT's got to do with all this anyway.....have you been at the Benedictine again.....?!!)

 

[josbarr]

Hit the 200 day moving average again today. (Dow)

 

[Racer]

Racer I use to think the same thing. Recently though I have been trading daily spreadbets as the market hasn't been precise in direction. In all honesty you can make money from intraday or day trading but I prefer longer term as I believe I make bigger and better gains.

The other reason is I can't really afford to sit at the screen all day as it can be time consuming and pointless when I can make better returns and at the same time I don't need to sit at the computer all day.
_______

Yes but it only works while it works.. the daily is a killer.

I don't like trading short time, I go for much longer positions and time frames. But that is partly because I am taking a bit of a break from trading and longer term suits me anyway.

 

[kriesau]

Incidentally I think if you spread bet the daily dow you are mad! Have done some calculations and you are better off lighting a fire.. at least you will get warm doing that.

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Can't agree. I had both a long term short at 10525 and a daytrade short from 130pm from 10430. I was 170 pts up on my long term short and 75 pts up on my daytrade short at 6.55pm.
After the Dow rocketed up on the release of the Fed minutes at 7.00pm I closed my daytrade short with just a 19 pt gain (lost 75% of my profit in 7 minutes). I let my longer term short run another 45 minutes before closing it with just an 8 point gain (lost 95% of my profit in less than an hour). So I made 27 pts after being 245pts ahead an hour earlier. Ce la vie but it validates both longer term positions and daytrading (on days when you have the time).
Just need a crystal ball to determine when to close out

 

[SOCRATES]

Anyone other than a daytrader sees nothing but 'comfort' in where the DJ is right now. So much wittering about nothing....

If you're a DT - you've got a few days of scalping....

If you're longer term - look elsewhere...

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Bramble, please, put him out of his misery and tell him where to look = my post on this thread No. 1341, dated Thursday 7th., and incidentally the Dow is capped yet again tonight at precisely the level I established, 10500 - 10520. All of this is obvious to me if to no one else, I am truly gobsmacked none of you get it. The Dow closed tonight at precisely 10508.10, exactly half way into the cap.
There you have it, "Just like that !" , as the late Tommy Cooper used to say.

Kind Regards As Usual.

SOCRATES.
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[Roberto]

my post on this thread No. 1341, dated Thursday 7th

precisely the level I established, 10500 - 10520.

The Dow closed tonight at precisely 10508.10.

Can't argue with that. "Not like this; like that." (It remains to be discovered what you did with the bottle and the glass, mind you ...).

 

[SOCRATES]

You know about that magical effect, of getting the drinking glass into the bottle ?

 

[User]

Bramble, please, put him out of his misery and tell him where to look = my post on this thread No. 1341, dated Thursday 7th., and incidentally the Dow is capped yet again tonight at precisely the level I established, 10500 - 10520. All of this is obvious to me if to no one else, I am truly gobsmacked none of you get it. The Dow closed tonight at precisely 10508.10.

Kind Regards As Usual.

You keep going on about your 10520 area...

You stated that area on Thursday during the day and at the close on Thursday 10520 was dealt with as the market closed at 10546.3. Yes the market was lower on Friday and yes it couldn't move higher then 10520 for a while before closing lower. But 10520 is not a significant level.

Your saying the market closed at 10508.10? No it closed at 10507.97. If your suggesting the market has closed under 10520 due to 10520 being a problem area than I'm affraid I don't agree. Unless you haven't noticed the Dow moved higher by 150 odd points from the lows in two hours. That was powerfull enough in all honesty. How much more could it do? The fact that it ended above 10500 was good enough.

 

[kriesau]

##########################################################################

Bramble, please, put him out of his misery and tell him where to look = my post on this thread No. 1341, dated Thursday 7th., and incidentally the Dow is capped yet again tonight at precisely the level I established, 10500 - 10520. All of this is obvious to me if to no one else, I am truly gobsmacked none of you get it. The Dow closed tonight at precisely 10508.10, exactly half way into the cap.
There you have it, "Just like that !" , as the late Tommy Cooper used to say.

Kind Regards As Usual.

SOCRATES.
###########################################################################

You called a 10500 - 520 cap 4 trading days ago. So you disagree with some peoples short term bullish sentiment toward 10700 and above.
If you're wrong it could see 10700 if it breaks 10570 this week. If you're right and it falls below 10400 it will test support at 10365 once again and if it breaches it this time it could go all the way down to 10200.
My crystal ball got fogged up at 7.05pm today but I'm still bearish in the longer term.

 

[User]

kriesau what do you regard as long term? Do you regard 6 months as long term or one year as long term or is your definition less then that?

 

[tradesmart]

Bramble, please, put him out of his misery

C'mon, I'm waiting.....!...and I like the obligatory sex change - the concept of a 'gentlemans' forum no doubt....?!

And I can't wait to see if 520 is 'terminal' resistance........

 

[kriesau]

kriesau what do you regard as long term? Do you regard 6 months as long term or one year as long term or is your definition less then that?

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Depends on the context you're referring to.

For a spread bet a longer term trade is based upon a 1% - 1.5% stop position and this might run from 2 days to 2 weeks.
In terms of sentiment, as in 'I'm bearish longer term' then I am looking at 2/3 months. Beyond that too much can happen for any real perspective to be relevant in an SB context.

 

[User]

And I can't wait to see if 520 is 'terminal' resistance........

I can't wait myself!

Very likely that resistance at 580 (560 cash) will be tested soon

Ts how did you get 10560 as resistance?Is that the resistance from Thursdays session. Should we clear that then 10700 would seem likely as I said earliar but I can't really see 11,000 as I believe the top for the year is in place.

You still feel good about your 11,000? I feel confident with testing 10,000 and 2004 lows this year.

Today's session was excellent, just as I had anticipated. Should be interesting to see how the rest of the week develops. I can only see upside from here but if we go down again then that would be pretty poor after today's move signified how major 10365 and 10400 really is in terms of support.

Should be wild, today certainly was...

 

[User]

For a spread bet a longer term trade is based upon a 1% - 1.5% stop position and this might run from 2 days to 2 weeks.
In terms of sentiment, as in 'I'm bearish longer term' then I am looking at 2/3 months. Beyond that too much can happen for any real perspective to be relevant in an SB context.

2 days - 2 weeks is probably regarded as short term in my book. That is why I was asking as short, medium and long term can be very different from one trader to another.

2/3 months is probably medium to long term and on that front I would say I'm bearish but until the end of this month I remain bullish in relation to the current chart status.

 

[tradesmart]

Ts how did you get 10560 as resistance?

User, see the attached cash chart – as mentioned, 560 has been tested twice previously and very often a third test breaks through resistance….

You still feel good about your 11,000?

I haven’t got any personal commitment to it, but I was impressed by Charlie Miller’s EW analysis (attached) that suggests it is possible – quite a wall of worry to climb before we get there though…….!