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

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.

Hi Melnibone,
mostly my stops work well enough but sometimes I am a bit hasty and move them too close too soon. This was the case today. The Dow seemed a bit weak so I thought I'd move the stop up. Who knows maybe It will drop and then I will have made the right decision.
You're right about how the stops attract price action. I did check the chart but it was a Fins chart.
Good idea to hedge as you suggest.

snoball - i used to use stops on dow but it always caused probs. i got a credit acct and it makes spread betting a whole lot more easier. see if ou can get yourself one. i use ig and going to try out cantor index credit account from next week.
as far as today is concerned, i left a down open (wish i had closed it now) and i have numerous longs at different places.
beginning of the month, everyone injects money so i think i got on the back of that for a while. dont know if it will continue up but still have some longs open. closed 3 longs and have one short (pretty big negative right now) open.

javid,
if I had a credit account stops would be even more important! No way.

I'm long again.

This thread is sinking into obscurity.
Where are you all?
Still long the Dow.

zarif, you have mail.

morning snoball, i had a busy day yesterday so havent been on much.
fyi, im long the dow still. i got 3 positions open. a short (which i want to close as soon as i can), and 2 longs. investors seem apprehensive at present.

hi javid. 10450 seems to be the main support level but will it hold? Futures looking a bit weak. I'm still hanging on to my long - just.

hey snoball, i am keeping my long open untill i hit a decent profit. company results are nearly all over now and i think we will see the dow rise a bit maybe within the next 5 days. at present, the way the dow and the other us markets are, it is worth having up and down and trade the ranges i think.
where is zarif now a days?

Feds have just popped in 3.25 bn until tomorrow. That should help.

been a bit nervous today. opened a long and closed it hastily. opened a second long and closed that. with i opened a short after that. still have an original long and short open. cant close them until i hit profit.

My long keeps coming up just short of break even.
I'm hanging on as, so far, we have a higher low today.

maybe we will get a rally in the last hour like yesterday!

Let's hope so!