I often find all manner of reference to Technical Analysis whilst reading threads, questioning certain elements, asking for advice on indicators and also requesting advice on a stock and whether it's a good time to buy, sell, hold or remain indifferent. I am the first to admit that my own TA is still in its infancy, but I do spend time on expanding my knowledge (hopefully in the right direction!).

Rather than having to ask a TA question on a particular thread, perhaps this thread could be used as a forum for TA queries and become a knowledge base. Just a thought, if there is little or no interest, the thread will sink without trace and that will be the end of that. I will personally add a few snippets to help those with less knowledge (if that's possible) to keep things rolling. There is a danger that the thread will receive countless requests for opinions on a variety of stocks and there is only so much I can do alone, therefore I would more than welcome input from other posters, no matter how rudimentary they believe their own knowledge to be, hopefully some real experts will take the time to contribute.

cynic , see where your mate was coming from re the DOW , not a risky trade at all(so long as you knew what you were doing?) - how it was derived you do not see very often but will not forget it now

Dynamix, shame on you pretending to be a girl, perhaps you wish??

Joking aside, I quite welcome alternative views, sharing of ideas re trading strategies, methodology etc. Perhaps you would like to start again but in a more informative way rather than the smart arse way in which you introduced yourself. Guess I can always catch up with you on ADVFN or elsewhere :)

Maggie, pleased you got your bounce which should mitigate the damage a little, all you have to do now is decide if you take the smaller loss or hope for better. Decisions, decisions.

pth

i know too wher M8 got his support, but the markets are so difficult that it was brave to bet on it holding .... in fact, Dow tested through it on a couple of occasions before heading north .... today has been interesting, but far too scary for me ..... Dow has traded on a 100 point range though here is no real logic between either its top of bottom

Peter .... did you see e- re pro-am?

Yip, Have sent you an email, more later :)

I very much fear that with this late sell off that the Dow support at 13255 will be broken and perhaps quite fiercely ..... very late in the day, have opened a short at 13279 and am almost sorry to say that it is now (already) quite well in the money.

at close, Dow was sitting on next hoped support at 13205 .... if that gives way, then from memory, 13200 is next stop ... feels almost traitorious, but shall leave this open o'night as it feels very much as if renewed bloodshed is on the cards .... at least this short offers mild protection against my long portfolio.

Suggest SOLA may make a good short in the morning

haha it was cynic who kept suggesting I was!

looks like your dow trade was a good falling knife catch, glad you got out when you did as it looks patchy now

been long gold (spot) today was up a bit then it came back to stop me out evens. I'm also still holding livecattle long and coffee (sept) so at least that ok

uneventful day really, onwards and upwards

dynamix :) = rumbled :)

Maggie, update on EMG for you:



Quite a change from the previous charts, I have removed the two previous 'channels', although the lower trendline (light blue) is still there, simply because having perviously provided support it may now become resistance at 575. The white dashed lines represent an attempt at determining the new trend and possible trading channel, although I will admit they are tentative at best. You will notice that the mid trendline also has the capacity to resist any upward move.

I haven't shown the whole chart from which the lower trendline originates, but it has only been tested three times, the absolute minimum for trendline support.; personally I would wish to see this line tested again and hold to give confidence to the overall trend. I drew the SP support level at 543 last night, but wasn't entirely sure it would hold, so far it has. I also drew the RSI support level last night, but that was sheer guess work and in expectation of a possible bounce.

I think if the SP can rise through the 575 level there is a strong possibility of a return to 600p, however in view of the crazy rise in the FTSE today and the DOW sell off I would think a test of the tentative 'new' trendline is likely. Keep an eye on that 543p level :(

Good luck

pth

rumbled my ass .. surely it was quite plain I was a geez..

only old victor thought other wise

Just as an aside, have just been flicking through a few charts, seems volumes on the ones I have been looking at are relatively light and out of proportion to their respective gains. Have already read on a few traders threads the danger of this rally been a 'dcb', with the exception of the crap I already hold (and they are long term crap anyway) I have no intention of becoming involved until things settle down.

pth

more than rumbled dynamix, told you I recognised the style ;)

lol

i care not what sex you are or might pretend to be during your evening ventures ..... unlike some, i do not get easily offended and have no prob ignoring when necessary - e.g. the likes of 10B

do not like the feel for the morrow at all, which is why i have left my Dow short running ..... markets in this sort of mood have no logic nor rhyme nor reason, which tends to indicate (to my mind) doom and gloom in some measure rather than sweetness and light.

as another observation i have been watching the main US indices with teh weekly donchian channels and DMI's. Although on the daily they are breaking down to new lows. The weekly ones give a totally different view. Theres a few glaring levels not far below for the Nasdaq and SPeas to hit soon. Maybe this will determine the summer range or crash.

and in your opinion? ..... up or down? .... if the latter, which is my view, do you perceive some violence in that move?

I would like to think a halt to the slide around here, but if the low of May goes (and we are pushng it now in the USA) then theres an awful lot of space below.

But you got to trust the chart and say until it makes some longer term "lows" then in theory this rally isnt over, although its lost it's feet somewhat.

in other words I do not know ;) nor care as long as I get to trade

PTH thanks for update Have left my stop loss in place until I see how things go. I do believe this will trend up just when is the question and have I got the b***s to hang in there. If it's not toooo stupid a question how do you determine the mid trend line? I am still following your logic and learning
Cynic, have PRX on my watch list but too busy watching EMG to do anything about it. sorry now!! Will see if I can catch a dip. Your question - what is a protected trade.
Dynamix Tried to follow your instructions from Falklands thread. I think I understand the Donchian Channel but got lost on the DAX and the ADX perhaps my graphs aren't sophisticated enough?

add an ADX indicator and remove the "black" ADX line so your left with two DMI lines

dynamix - wish my gut feel last night had not been so prescient ..... almost, but not quite, tempted to take my Dow profit now, but think i'll let it run ..... certainly, unless you correct me, next significant support is about 12750 with resistance now at 13205.

maggie - forget PRX; it's very very (very very!) illiquid and I cannot see there being worthwhile upside for you to take a dabble .... even this morning sp is rock solid ...... i managed to get hold of 2 lots x 5,000 at different times over the last couple of months, but as i said, NMS is only 500.

protected trade is when MMs are given an order at a specific price and it gets filled in bits and pieces