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

Zarif

Can you explain triple withching

orky

Orky Just For you

Copied from Late David crocs site (www.snappytrader.com) -have a look atit as has a lot of educational stuff on there.

Double and triple withching:

What is so surprising is that many people were not even aware that this particular volatility regularly occurs on Double and Triple witching days - the actual trading period within each Witching Day is known as the Witching hour but many wonder if it is not some dark and satanic ancient ritual. It actually refers to the period when equity index futures, equity index options and equity options are settled/expire. These are at prearranged times and dates throughout the year.



Triple witching days occur in the US only and refer to the market machinations brought on by the simultaneous expiration of all three derivatives at the same time. This happens four times a year, on the third Fridays of March, June, September, and December. To be precise, the phrase is Triple Witching Hour, and refers to the last hour of trading on these Fridays.

NEW YORK (AFX) -- Smith Barney initiated year-end targets for the S&P 500 at 1,225 and for the Dow industrials at 11,700, which represent gains of 20 percent above its year-end 2004 targets of 1,025 for the S&P 500 and 9,750 for the Dow. The S&P 500 was last up a point at 1,125 and the Dow was 2 points better at 10,315, vs. their respective 2003 closing levels of 1111 and 10,453. Equity strategist Tobias Levkovich said he remains 'tactically cautious' for the rest of 2004 as he believes earnings concerns might keep a widely expected fourth-quarter rally from occurring. He is more constructive on 2005 due to favorable price-to-earnings valuation expectations.

This story was supplied by CBSMarketWatch. For further information see www.cbsmarketwatch.com.

ttt

Dont know about others but I'm short the YM

Really jeffers? why?

snoball
Cos its going down. Closed for +21

I can't think of a better reason.
On further reflection going short when the price drops and presumably long when the price is rising seems like an extremely good trading philosophy.

Where are all you Dow traders?
Making so much money you've taken out subs for the Trader's room, haven't you?

I agree where is everbody. Anyway what is the trader's room like? Any views on today

orky, they are much more clever than us in the Traders Room.
They talk about things like Level2 and they buy and sell on the same day!
As for the Dow I think it may go down but then it could go up as well, so watch it carefully.

I found this site yesterday. There are some very good ideas for trading the Dow there.
http://212.38.89.86/spreads/spreads.htm

Evening zarif and thanks for info..

hello everybody:
YM took a nose dive yesterday.
jj50 - u r welcome.
13.30 jobless claims so lets see what happens -crooks as usual will rally on bad news.

sb: no not on the traders board- when we can do it here for free.
thanks for the updates -much appreciated.

rgds
zarif

Snowball,

Thanks for the link above.

Harlosh

My pleasure, Harlosh.
What do you think of the trading strategy? I rather like it. I think it could be used on the Dax as well.

Hardly a blip on the Bullish percent.

Sorry, I forgot the charts today. Well, I didn't forget them - I was busy up scaffolding painting my barge boards.

Morninng all:
Durable goods at 13.30 and existing home sales at 15.00 data from US.
So what are we expecting after the recent two days of sell offs? I think it is safer to short the rallies and it takes a long time to go up and pretty fast down.
anyway trade wisely and safely.

rgds
zarif

Snowball,

Seems a very thought out system and well articulated by the writer.
He seems to know his stuff. I like the different risk levels which would enable users to get their head round the easy(ier) bit before progressing.
Might give it a try in the not too distant future. Got a lot on at the moment.

Where's Zarif these days?

Harlosh, I think zarif hangs out somewhere else now.
No idea where.

If you apply the Dow system method of calculating the triggers to the Dax then today you would have had a sell trigger of 3896 and the low was 3859. The buy trigger wasn't hit.
I like this idea because you benefit from volatility and don't trade when volatility is low.