how do you see the dow index going today Dow Jones and S&P commentary: Signal Watch Dr Bob Hard Right Edge Raptor Research Charting by Snoball: Dow Chart S&P Chart Drinks & Break Time at: GD's Famous Tea Room & Watering Hole"

DOW JONES @ LIVECHARTS

I bet it has. If i'd had enough margin I would have been as well.
Just happy to get out with break even and I'll have another look at it at the close.
Might try a day trade on the S&P tomorrow.

And here is the reason why boys and girls.The men in black strike again, bless 'em!

Snoball -my man u should have hung on with the long. I have just taken out a short for long term at 10660 feb
lets see what happens.

rgds
zarif

I know zarif but I was so glad to get out intact I didn't want to chance it.
Have you got rid of that 535 long? - you must have made a nice pot on that one.
Why do you think the long term direction is short?
It's obvious the men in black are still supporting it.

Snoball - I got rid of the long with a good pot.
My reasoning on shorting is only on intraday ranges -the main trend is up but the micro trends can give good short scalps.
Also in the prevoius posts last week i mentioned that the Dow will touch 10750 -the logic being that the low point in march was 7250 and it spent a long time in the 9000 area going sideways -hence making a firm foundation .The difference between 9000 and 7250 is 1750.therefore the upside achievable quite easily is 9000+1750 =10750. As we are nearly there and the Dow has gone up in triple digits today the short is viable as i feel that it will retrace at least say 50 points and then make a move up again. It would not surprise me if we reach 10800 and over in the very near future.Anyway thats my logic and bet u it gets kicked to touch at start of market!!!!!!

good night and rgds
zarif

oh, right zarif. I thought you thought the longer term picture was down.
I agree that after a triple digit rise (classed as a Big White Candle in my Metastock candlestick Expert) a fall of 50 or so can be expected. Still tricky these days though.

im looking for a short today. trying to get a nice entry point (perhaps a spike). may end up getting it as soon as market opens.

javid

Javaidshaik:
I have the same gut feeling as u that we are going down on the Dow today as the volumes were low and the market rallied also with all this data coming out and the FOMC meeting etc etc it would be an ideal time for some profit taking.Also if we say the dow has a range of say 400 pts in a week than just stacking those up/down gives an indication aswell.
In my opinion markets take a hike up slowly -BUt Fall down much faster.
I think in the first half on hour or so will give the intraday highs than head down.

trade safely and wisely
rgds
zarif

KEY EVENTS TO WATCH FOR:

7:45 AM ET. ICSC-UBS Store Sales Index (last -0.7%)

8:55 AM ET. Redbook Retail Sales (last +0.1%)

10:00 AM ET. Conference Board Consumer Confidence Index (expected 98; last 91.3)

4:30 PM ET. ABC/Money Magazine Consumer Confidence Index (last -3)

2-Day Federal Open Market Committee meeting begins


Just opened a short at 10686 daily
Also got long on cable/Usd from 17989 and Short USD/CAD from 13140 -both looking good atm.


rgds
zarif

Closed the short at 10668 (opened 10686) +18pts just watching atm for new opps

hello people,

been out for the afternoon. i was hoping my short would have been hit by now but dow seems to be on downward trend but channeling. well i hope it goes down some more today. i believe grrenspan is talking so hope it takes a dive then.
have a good nite all.

javid

My quote.com quotes are rubbish today Dow up 88?
Anybody know what the Trin is?

I'm flat as I have been to an ECDL class this afternoon.

Your short should be doing well javidshaik.

lol, zarif my man. You should have left the short open. Don't you hate it when it does that?

Snoball -u r right i should have held onto the short. But the fx trade long on GBP/USD is giving 237 points (less 27 stop trailng so nett 210 pts at 5/pt) and the USD/CAd Short opened at 13140 is giving 100 pts (less trail stop 30 so nett 70pts at 5/pt). Just looking at the dow as might give a good buy opp.

rgds
zarif

ps: snoball try the currences as the moves are decent and the trends etc are more reliable and the volatility is good -you can relax with these trades while we grapple with the dow.

rgds

nicely done zarif. I need to get a currecny site with decent charts and I might give it a go.

closed my position now. not a great day but cant complain.
zarif, i closed my long position on euro and sterling and am contemplating opening it again. what do you think euro and sterling will go up to against dollar?
im signing off for tonight but catch you all tomorrow.

javid

ps. zarif, what program do you use. i use sharescope and esignal myself.

Snoball the trin is showing 0.94.
Good currency site is fx.com -live charting and free demo for 6mths.
Another good site with all the analysis is saxobank.com- very good as gives all the charting free including ftse and dow etc.

let me know if you cant find them then will send u the links.

Also what are your views for going long on the dow as it will give good opps today if we are lucky.

rgds
zarif

zarif,
I will check out the currency stuff.
As for the Dow, if it Closes above 10550 I will consider it still long.

buying opp coming up now???

Gone long on dow at 10601 daily
shorted gbp/usd for over night trade.

rgds and good night

zarif

Me too zarif @ 10614 on the Feb future.
Fins Dow daily doesn't stay open overnight.