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

Terod:
I am with igindex anf I am using spreads with them (mind you their spread is heavy):
What i did was when the market reached a high I took a Short and folloed it down and scalped the profit.Then when it was at near bottom took out a long and closed it out at 9643 (opened at 9595) and harvested the profit.imultaneously took another short at 9643 and am looking at the profit building up.

My motto on days like today is "never let greed ruin a small profitable position"
rgds
zarif.

nb: sometimes i do take out both long and short at same time (depending on the parameters if they allow to take profit both ways.

terod:
btw have u started trading on these yet. I think I am going to suggest to Snoball,Jules, Megabuks etc if we can also start putting on info (obviusly with no recourse to anyone) If we can put from our analysis,speculation etc.regarding what the:
trend direction
resistance levels
suggested entry and exit points for next days longs and shorts
support lines etc
any other things that you may wish to be put on and then see if we can formulate a system which hopefully we can make work
What do you think of this idea??
rgds
zarif

zarif,

no not started yet - got husband off work at present with illness and only want to jump in when i'm completely ready emotionally (also got 3 little one who limit the days which i can dedicate to trading).

i'll get there v.soon. - thanks for asking.

as for your suggestion, yes, without recourse, of course.

cheers.

t.

Good idea, zarif.

Brilliant day today:
Jst finished creaming the dow short from 9643 and closed at 9564 at 15/pt.

Snoball i am glad u are in the game and my idea -btn us all we are sure to make it work and help each other out.

rgds
zarif

zarif, snoball (your nickname reminds me of home...i'm canadian!), jules...

re the Dow, based on the system i'm using, the trend is still UP. based on a 3mth historic view (c.sticks) with EMA=14 indicator. if today ends negative the trend will start to move sideways. It's a pretty basic system which appears to work.

try going to BIGCHARTS.COM select DJIA, click on interactive charting to set the paramaters and have a look if you've got time.

t.

terod,
I used to live in St Albert, near Edmonton, Alberta.
Back in the late seventies and early eighties.

Re your 14 ema - nice and simple. The best systems
are simple, I think.
Do you trade on the crosses or do you have a trailing stop?

snoball

the system purely highlights buy/sell opportunities, triggered by v.specified entry points. e.g. HG. on 2/10 indicated buy @ 188.25 (this is end-of-day research) next trading day, it also told me to abort the trade if the price hit 181.50 first. as it happened HG. hit the entry point as has yet to fall back to the abort level. what i would have hoped to achieve was precise entry, or as close to as market allowed and then to sell when my profit target was hit.

if i was holding until the trend change or the abort line hit, i'd certainly have used a trailing stop.

i've been paper trading this strategy for some time now and it throws up some wonderful opportunities!

enjoy your evening.

t.

(ps - i'm from ottawa)

Good afternoon to all:
Are we ready at the helm of our "seats" waiting for the dow to open??
Is it going to be plain sailing or arte we in for atempest. I reckon it is going to be choppy waters and if we are on the ball should be able to reel in a few fish -Watch out for the sharks though they bite!!!
What are the levels we should watch for today???

Ps:We havenot had jules on the board for a few days _ i trust everything is alright with her trading.

rgds to all
zarif

The dow has rocketed up and i am waiting for it to run out of steam and then take a "short" trip all the way down (thats my wish anyway).
The Bulls are stampeding in their rampage beware we dont get trodden on and dont wear RED as then they come for u.!!!!!
rgds to all
zarif

Just opened my first short of the day DEC DOW at 9703 at 15/pt and am watching it go down.
What are your positions today (no -not sitting down on the chair)??

rgds
zarif

Phew lucky closed to Dec Dow at 9668 -made a bit of profit there and now at 16.35hrs the dow is at 9740. just watching the screen and pondering wheher to open another short or take "five" and get a cup of tea (maybe something stronger to steady the nerves).
Will let u know what i did in a minute.....
rgds
zarif

took out another short at 9739 dec dow at 5/pt -Just to test the waters in case get engulfed by a shark or pulled in by an undercurrent.

rgds
zarif

Well, we know who must be responsible for this rise, don't we?

yep
But as we both know it is getting silly them having to bail out themselves from the sme predicament - the greenback or abraham linoln or whoevers face is on the paper -the printing press must be churning it out like the confetti

rgds
zarif

zarif,

perhaps a naive question....but.....why are you shorting when the dow's going through the roof.

would it not make sense to ride the momentum upwards?

or is it a case of 'what goes up, must come down'?

have you got some longs running too?

t.

terod:
Not a naive question at all but a very valid one.
My positions were as follows:
I had along open on dow yesterday from 9560 and closed it today at 9739 thereby giving me a gain of 179 pts less the spread 18pts a nett point gain of
161 pts at 15/ot a tidy amount of 2415 tax free.

Then i went out and when i came back I took out a short opening at 9703 which i closed at 9668 giving me a gain of 95 pts at 15/pt a neat neat sum of 1425
Obvoiusly It was time to put the kettle on and calm my nerves with camomile tea and g&t on the side.

When i finished that the dow was at 9739 (opening at 9721)and stayed boobbing arounnd there signalling a resistance and so took another short to test the waters at 5/pt and as i write this the dow is at 9707 down 14pts making 70 and i am just watching the screen and have left it running.

Many times it is better to take a contrarian view and not to follow the herd mentality - need to step out of the "comfort zone".

Anyway no matter what happens I am quids in today at 2415 +1425 =3840 so can afford to take a bit of calculated risk as you quite rightly say "what goes up must come down.
Anyway better get off the screen before my mrs sees the figures and starts planning her shopping etc and shakes me upside down until i give in(just joking - she is not that bad.
By the way I have three daughters who i pamper to death and spoil them rotten ( am always getting told off for that but who cares we must spoil them as musch as we can because the world will soon intrude on them with responsibilities etc.)The youngest one will be 6 next week on the 20th ( the others are 12 and 9).
Sorry if i have got carried away with this post but sometimes it is better to be personal as we are all humans ( i hope) after all

rgds & keep posting -all input good / bad is appreciated

zarif

zarif,

very well done to you my man you are on a roll at the moment hope it keeps going for you...

Mega...

Zarif, are you betting long or short on the quote provided by your SB company or are you placing limit orders to catch an up or downward movement?