Where is the Dow & others heading in 2005?

[RUDEBOY]

By the way, ive got a 100pt stop. To tight? Maybe?

 

[trendie]

would a breach of Mondays 10,020 count as a 1-2-3 pattern, or not ?

 

[tradesmart]

By the way, ive got a 100pt stop. To tight? Maybe?

RB - In theory once you've seen a profit on a trade, you shouldn't let it turn into a loss....

works for me anyway......

You never know - they might catch Bin Laden overnite - that could be worth 200 points min on the Dow futs......!

 

[trendie]

triple digit drop.
happy, happy, happy.

 

[Racer]

Wow, just popped back to have a look, left it alone cos seemed to going okay.. but that was 70 higher than this!!
That beige book knocked em for six eh
Really glad I made the effort today, I would be sick in more ways than one if I hadn't!!!

 

[RUDEBOY]

TS, see what you are sayin', but my entries and exits are different entities. These days i dont think of them as a whole package, if you know what i mean?

 

[Racer]

Hope no one went long?

 

[RUDEBOY]

TS, you are right though. Theres probably not much in my position. 10G below, and i'll take! RB.

 

[kriesau]

Wow, just popped back to have a look, left it alone cos seemed to going okay.. but that was 70 higher than this!!
That beige book knocked em for six eh
Really glad I made the effort today, I would be sick in more ways than one if I hadn't!!!

Racer - you've done really well with your 10180 short - congratulations.

I've been chasing the market down all afternoon with my first short at 10100, the second at 10072, the third at 10050 and the fourth at 9995.

I think that we will see this below 9900 but first there could be another spike up tomorrow.

 

[Racer]

Thanks kriesau
The Dow stopped exactly at the round number effect twice today.. wow is it boring the way it does that!
My targets are now.. initial 9800.
S&P target could now be 1088

But this could be just the beginning, so watch out if you have longs! I have no fixed ideas.. that is why I closed my shorts... but I was prepared to get back in... and that is what I did today because I was wrong to get out, not wrong at the time.. I am still happy I did what I did.

 

[macbonzo]

Dow has been INCREDIBLY volatile over the past half hour, up and down 30 pts in a matter of minutes.
Could this be the run up to the drop below 10,000 ????

Today has been quite unreal.

At 1.30 Dow futures are 10164, and out comes CPI. Bang, crash, within 120 seconds we are at 10118. I then went into the kitchen, to get myself a glass of water. It must have taken all of 35 secs. CAT results come out. Woosh, futures are 10182. Then at 2.30, the Dow opens down 10 points. Within a few seconds it's up 10177 (well above the futures), then back down to 10118.

And where did that 60 point spike come from at 3.30?

I would not dream of calling the bottom of the market, but I get the feeling quite a few people threw in the towel today. Despite UTX, CAT, MO and INTC, the inflation/interest rate fears really won today.

 

[Effkay]

Today was quite an easy one to trade from an intraday perspective. The Dow had an early rally which wasn't supported by the S&P, and presented itself as a beautiful short! If only all days were like this!!!!

 

[Racer]

macbonzo
That is the Dow for you.. I have been trading it for years.. it is either the calmest or the wildest thing you can imagine!

 

[kriesau]

Thanks kriesau
The Dow stopped exactly at the round number effect twice today.. wow is it boring the way it does that!
My targets are now.. initial 9800.
S&P target could now be 1088

But this could be just the beginning, so watch out if you have longs! I have no fixed ideas.. that is why I closed my shorts... but I was prepared to get back in... and that is what I did today because I was wrong to get out, not wrong at the time.. I am still happy I did what I did.

Yeah I also got out yesterday and got back in today as indicated in my previous posts. It was the right decision because if the Dow had breached 10200 today we could have seen a 100 pt rise rather than a fall. I also shorted the Nasdaq but chickened out after being under water for several hours and so I closed it when it fell back to my entry level. Of course it then carried on down another 16 points, but hey, you can't win 'em all.

One other question - do you use guaranteed stops ? I sometimes do when I'm long but virtually never when I'm short. How about you ?

 

[Racer]

One other question - do you use guaranteed stops ? I sometimes do when I'm long but virtually never when I'm short. How about you ?

No, I use mental stops! I watch the market a lot and have access to live quotes on the mobile if I am away from the screen. Great fun checking the Dow in Tesco... LOL

 

[Racer]

Yeah I also got out yesterday and got back in today

well done!!

 

[tradesmart]

Another good day for the bears……!

For chart watchers, the rising channel could only go so far, and was in effect just a long bear flag……

The ND divergent top on RSI/CCI at 180ish signalled a close for longs and a short entry, and when the lower trendline was broken, the bearish floodgates really opened……

The PD bottom on RSI/CCI at a whisker above 10000 (futs) signalled a short cover (for me anyway..!) and a quick long to bag another 25 points….

The futs have just tested a shade under 10000, but we might see a bounce to test the trendline that has formed from todays high if tomorrows data is supportive….

If…!!…..

 

[ducati998]

Racer,

No, I use mental stops! I watch the market a lot and have access to live quotes on the mobile if I am away from the screen. Great fun checking the Dow in Tesco... LOL

That sounds a little dangerous. If you had a automatic stop set, sure you can walk away. Using a mental stop, and walking away, could leave you in a very deep hole. How would you then manage your risk?

cheers d998

 

[kriesau]

No, I use mental stops! I watch the market a lot and have access to live quotes on the mobile if I am away from the screen. Great fun checking the Dow in Tesco... LOL

What about overnight positions ?

Who do you trade with ?
I have two a/c's - one with IG (24/7) and the other with Man (07.00 - 21.45)

 

[RUDEBOY]

10G consolidation? abstain or fade? Whatever, downtrend is the name of the game at the moment peeps, let NYSE 'mug' money shine through on this one? Slap it, and ride the ripples, you know what i mean?