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'm still long........for now.

I'm long, but have bought more with each drop and sold on the rises, so managed to (just) keep ahead so far.

nice going lw.

It only works if it continues sideways, within a good price range.

Thought this was interesting:

1512 GMT (Dow Jones) LONDON--FTSE 100 treads water at 4411.9. Trades in a tight range after Wall St opened on a slightly downbeat note. University of Michigan sentiment reading of 103.8, Chicago PMI reading of 65.9, both slightly better than hopes, help prevent FTSE from sliding further. "With minimal UK company reporting over the last few days, we inevitably been left to watch the political circus at Westminster, but with some solid corporate reporting due next week, there&aposs universal relief amongst traders that we can get back to working with substance, not spin," says trader."

i still havent opened up another position yet. not sure what to do mixed sentiment because of last trading day of jan, gdp figures below expected, possible profit taking so i would assume downwards today but its just too sideways. wondering if traders think markets have dropped enough already this week.
will watch for a while i think

My big worry is that every time it tests 10450 it's carry on down! Although so far I've well enough that it'll have to drop a long way before it wipes out the profits so far.

very slow boring day on the dow. feels more like the ftse.
i got an up and down open and see if i can walk away with a small profit today. if not, i am sure come monday something will happen.

have a good weekend guys.

javid

you too, javid.

Wall street should be back from lunch soon. Maybe it will liven up then.

What I need now is a closing rally to 10500.

i dont mind if it goes up or down as long as it gets of its arse and does something!

:-)

I have a single contract DJ left @ 10232! I think I'm going to leave it open over the weekend unless we get that rally!

how dull?

Looks like we got the rally!

How did you get 10232 lw!
Nice one!

I'm leaving my long open.
Nite y'all.

Raised the stop & was promptly stopped out.
I think using stops is a guaranteed way to lose the trade.


G'day y'all. Trin's a bit bearish isn't it?

snoball - what stop distance did you use?

javid,
On Friday I used a 90 point stop but earlier today I moved it up 40 points. I should've left it an I would still be in.
It's a bit tricky setting stops as I use the cash Index chart and the futures trade at a discount which varies.
As a rule though I use the previous days low for overnight stops.

Ref stops, I use mental stops.

The way I look at this game is like playing poker.

It's bad enough that the market knows your hand, but if you tell
it how you are going to play your hand as well then I consider
that to be stacking the odds even more against you.

It's amazing how known stops seem to attract the price action
like a magnet, isn't it. ;-).

If I'm concerned about not having a stop in the market at any time
then I will take out a hedge position, say, long on some stocks
or sectors with a hedge short on an index.

Melnibone.