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

Hi Zarif,

We still haven't spoken. Did you get my email with my phone number etc?
Hope you are well.

Yes Harlosh,
I got your email ant telephone number will ring you tomorrow as i am just about to go out
rgds
zarif

Ym opens in abou half an hour.
It tanked down a bit when the news about the american/israeli embassy bombing in tashken.
Also the GdP didnot excite.
Remember its End Of Month day so they shall be cooking the books make sure you dont get put in the broth.!!!!

GEnerally i feel POP and DRop or DRop and POP but am vary to take these mini rallies to heart -best to scalp in and out and maintain the shorts strong unless and until the picture changes.

ding ding:
Ym open
The casino is on and remember dont let the house win and russian roulette!!!

Good luck for today Zarif.

Thanks Harlosh:
Will ring you today after the close.
Just doing some scalping on the dow and long cable has paid very well today.
rgds
zarif

afternoon all:
Ym auction starts in 25mins:
Results out today at 10.00 et. Also Al qayida threats flying about. So what can we expect from this -logically would be a doji day -but my gut instinct says that it may either rally or go splat.
Trade what you see and not what u feel
If in doubt stay out as we are at crucial levels and let the market decide your actions.

DOW making new daily high and trying to break through the top
of Thur/Fri trading range.

If it goes much higher it may start off a Bear squeeze.

S&P attacking the 200Ma.

Melnibone

Melnibone,

I've seen you using point and figure charts on here before. Which software do you use/recommend? I'm considering PFscan or Updata. I would appreciate your thoughts.

Regards

Hi Harlosh.

I'm afraid I don't use other people's software. I've no wish to be led
by the nose by a computer when I consider that the Human Brain, when
used correctly, is a superior reasoning tool. :-)

I collect my own data, started off a while ago using Yahoo closing price
historical data, and use Excel or OpenOffice.org to create my own charts.

I then try and coax my few little grey cells that I have left, into
interpreting that data according to the prevailing market conditions
and sentiment.

Sorry not to have been of more help. I believe that Zarif has paid for
some computer generated systems. Maybe he can help?

Melnibone.

By the way, whilst I'm on the subject. If you create your own charts
from your spreadsheet data, you can also set up columns of MA's using
the average function.

Why do that you may be asking?

Well, you know that I say that a lot of TA indicators are historical
trailing indicators? If you plot your own average columns (MA's), you can
start the plot off out of sync with the price action and shift them to
the left or the right, thus lining them up with the price action peaks
and troughs and see if you can get any predictive qualities according
to the type of market conditions you are currently experiencing.

Just one of my little aberrations, so all you TA purists can wind your
necks in before you start. :-)))

Melnibone.

Thanks Melnibone.

I always suspected you were brighter than I.
I have considered doing them myself but prefer the option of having a computer search for particular patterns, though I admire your diligence.

Regards

Harlosh, take a look at Metastock. It is a chart plotting system not a propriety black box trading system.
It can be used to plot all the normal indicators and you can also code and plot your own. It also has the facility to plot offset ma's and has a scanning facility for finding patterns.
I sound like a salesman I know but I have been using it for years and like it.
In the charts I post in the header you can see highlighted green/pink price bars/cs's. They are higlighted according to rules the user defines. For example the S&P chart shows green price bars when the close is above a moving average.
The buy/sell arrows are plotted when the closing price crosses a particular level. All determined according to the users own rules. The trend bars at the bottom of the chart are also displayed according to user rules. In the case of the S&P a down trend is displayed when a price drop below a 55 day low was more recent that a price rise above a 55 day high and vice versa.
I believe Updata are very good, particularly their scans. I don't use them because I have bought Metastock and don't have to pay a monthly fee - except for the end of day data of course. I am getting that on a trial from Investor Ease (UK) and Downloadquotes.com (US).

Snowball,

Thanks very much for the info.
Do you know what their P&F charts are like? Though I haven't used P&F yet I think they are probably the best charting tool available. I would like to search for ascending triple tops for example, which apparantly have in the region of 80% succes rate.
I believe Updata are now very good after a poor start. No upfront cost, just 27 per month for EOD feed and their P&F is supposed to be the best available.
I will take a look at Metastock anyway.

Thanks
Harlosh

I too use Metastock and like it. They have just brought out version 9 which I upgraded too and purchased from Paratech. I get EOD from prestel so thank you Snowball for the tip about Investor Ease and Downloadquotes. I'm not a salesman either!!

Hi Harlosh,

I doubt I'm brighter than you.

A thicko may only know 10 things, but if you ask him those 10 questions
then he will appear to be a Genius.

A genius may only not know 10 things, but if you ask him those 10 questions
then he will appear to be a thicko.

I suspect that we are all somewhere in between with our own perceived field
of experience.

Best if you think of me as the thicko and do your own thing.
Who said I was right anyway? It's only me that thinks so.

Melnibone.

Afternoon all:
What has the ym got in store for us today?
Now that they are saying that the "terrorist" news is OLD news -will the market fall as it rallied when they said there was a heightened alert of threat!!!.
With such small volumes and thin markets it is easy to their manipulation.
Best to trade what the market is doing in front of the screen.

harlosh:
metastock is a good package.Pfscan is alright -i bought it but never used it.
Also if you want point and fig charts etc for indices,currencies,etc why dont you try
www.livecharts.co.uk
and its free!!!
rgds
zarif (ps i have not forgotten will ring u soon)

Thanks for the advice everyone.
I'll try some free downloads and then decide.

Zarif,
No worries, we'll speak in due course I'm sure.
Good luck for the ym

Harlosh

I just do my little trades day by day!!! +17 today, +17 yesterday.
I reckon I need just +30 a week. So rest of the week off!!
Cheers,

JP

Zarif,
Had a look at Live charts. Just couldn't fathom the P&F charts out.
Back to Metastock, Updata or PFscan.

Harlosh