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I suppose I should be feeling all Bullish at the moment,
but I can't summon the enthusiasm. The chart's are indicating
a swing low but with the DOW still below 10300 and the timing of
the rise to coincide with the Eurozone close leaves me feeling
very suspicious.

Any confident Bulls out there?

Melnibone.

added another short at 10260

zarif

Hope you are right zarif. I also went short earlier but this is starting to look a bit too strong for my liking (hope that will start the fall).

Do you have a stop?

BigBusiness:
In these type of trades i place stops which i keep re-evaluating:
SWIM -Small Stake With a Wide STop In THe Medium term Trade.

i hope it helps

rgds
zarif

Have kept the shorts running that i took out previously and have been doing scalps on the tops and troughs.Seems to have worked okay.
Wonder what it has in store for us for the last hour.

rgds
zarif

Looks like my position is now medium term as well. I have hedged a bit using a daily spreadbet as the Dow doesn't look like falling (perhaps that will do the trick).

Dont forget its tripple witching on Friday so any current shorts may come good on the last day of this week if not before.

Javid

javid: just added another short at 10280 june.
so got 3 shorts atm: 10238 ,10260,10280.
Lets see what happens.

rgds
zarif

I would expect some down move tomorrow after the strength today. There is certainly a lot more volatility lately and it wouldn't be a suprise to see todays gap filled soon. I just hope the down move wasn't another false alarm.

BigBusiness:
It will retrace and also as Javid said Triple Withching on Friday.
Markets "go Up slowly But Come Down FASTER"- Anyway hope so.

rgds
zarif

Good morning guys,
I opened a short last night at 10,290. I am expecting it to come down today or tomorrow.
For triple witching I have noticed previously you get what the traders refer to as waves and during the course of the day their is normally three waves. First when market opens, second at 12pm ish (EST) and then in the last hour. A wave is a market swing and time beofre last I made a lot of money when the day before I thought I might have been caught out with a position that didnt look likely to close. Well, it closed on that Friday with a huge profit.
Looking forward to a good trading day.

Hi javid et al:
Lets see what the beast has in store for us today and see if we can dig the gold out of its lair!!!.

I think jobless figures out today and philly fed later on.

I think they are calling it "quadruple witching" now due to eminis.

rgds
zarif

You are quite right Zarif, it is quadruple witching tomorrow. I would expect some ups and downs on Friday. Dont think we will have any real direction though, just wide range channeling.

Locked in profits on the shorts.
Just watching atm.

Closed the shorts at 10208 in good profit as am going out now

Bin Liner ( i mean Bin Laden) Al Qaeda news capture (not sure) associate on Pakistan Border "knee Jerked the Market by 100 Pts.
Ps: Last time the market was "bailed Out" by the Sadam News.then it dropped back to neutral.
Expiry tommorow should be fun!!!!( who is kidding who?)
No positions at the moment.

rgds
zarif

I have 1112 as support on the SPX and it looks as though it may give way soon.
10200 on the Dow.

US looking bearish on my charts.
But what do I know?

Swing and P@F charts are both Bearish.

But we are near psychological support levels and coming
to the end of the quarter. Funds will normally buy and
window dress to put a good face on for the punters around
now.

Not one to second guess here, IMHO. Just keep it cold and
clinical and do what the charts tell you. To short here would
be saying that you have called a trend change before it happens.

If you are wrong then the risk reward ratio wouldn't look very
good, because you would have shorted at the bottom.
Better to wait for confirmation and take some of it rather than
being greedy and trying to catch all of it.

Unless of course you are a big risk taker going for maximum profits,
in that case, fill yer boots as the saying goes. ;-)

Melnibone.

hi gang:
Early in today.
Sea of red on the Ftse today -but held at support and the dow looking a bit stable at the moment.Will see what happens at the open today and what direction it takes whether to test the support at 10000 and lower or pop up.
No idea tm.
As they say all will be revealed soon!!!!

rgds
zarif