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Anybody sell the double top at 9840?
Not you, Mega?

Hi.Everybody
Back from leicester about half an hour ago.
I had a Short on from yesterday and it closed off auto when reached giving a gain of 35pts.

Today seems to be stuck and going sideways -no momentum or volatility to give and trade opps. Stuck around the 9775 =/-10.
Looking like clouds gathering and storm /tempest to break out. Dont get caught in it as it can swing either way. At this time money in pocket is best strategy.

rgds
zarif

Afternoon everyone.
Hope u all had a good weekend and are ready and fresh to do battle with the Dow again.
The ftse100 seems to have had mild gains and above 4300 mark.
I reckon the Dow is going to try for its upper mark at 9850 and then make a journey south.
As snoballs graph shows watch the 9775 region and dont jump into the fight too early.Let the market dictate your actions.

rgds
zarif

trin is at 1.06 on 14.15gmt.
Auction starts at 14.30 -Watch the auctioneer carefully as they might be taking bids from the Aisle and the Chandeliers. Make sure u buy/sell at your price.
rgds
zarif

opened a long b 4 at 9816 and closed at9860 dec dow = 46pts at 10/pt
Opened a short at 9850 and am just watching the screen
rgds
zarif

hi zarif,

i've closed out my long too and am also sitting on a short.....fingers crossed.

i'm beginning to understand a bit more about how DOW works. it seems v.much to be about support and resistance on the day??? would that be an accurate assumption?

what do you and snoball mean when you talk about the FED's supporting/propping up the market - i have my own ideas but what DO YOU mean?

hope you have a nice weekend.

t.

Terod:
I have got a short out 9850 - keeps on getting into cr/debit am waiting just like u to see if it takes a decent hike down. As they say what goes up must come down -unless it can fly!!!!

You are right best to look at the whole picture rather than isolated bits-and let the market guide your action rather than try to predict.Also bear in mind the general trend as failsafe mechanism

With the feds "men in Black" - the Yanks including their govt support themselves much more than our lot at ftse. The fed reserve pumps in a lot of money to hold the market -unlike our Boe who -take it out any which way they can.
Any idea when the results are out for economic data from Us????

rgds
zarif

zarif,

at what point do we decide that our SHORT is no longer viable - do you carry it over from day to day? my position, with its spread etc. is currently neg. and i need it to drop below 9865 to b/even.....

do you think it may head further north, or it +80/90 high enough for the day?

t.

terod, you should decide how much you are prepared to lose before opening the trade.
You can trade on an intraday basis or over longer periods, it depends how you see the market going.
It could head further north and there again it could head South.
You just have to make up your mind.
Personally I would hate to tell you one thing and have it do the opposite (a common occurrence). My concience would'nt let me sleep at night.
(Excuse me butting in).

What I will say is that if it CLOSES below 9850 I will venture a short.
I don't know if it will or not.

terod,
here's a link to the men in black

Evening all:
i manged to close all my longs and shorts today and all in credit.
There was not much movement (volatility) -but still cant complain as CASH is king.
tomorrow is another day -another dollar as they say

goodnight
zarif

snoball,

thanks for that and, of course, don't mind at all.

when i take out the position, it's usually more a case of cashing in too quickly and losing out of lots more up/down side - my nerves just can't hack it. i do also have very finite stops and, unfortunately, have been stopped out a couple of times when the market was 'aparently' consolidation before pushing on in the direction of my position - for me, it's a case of little and often, but greed is a true vilan!

today, i managed to enter/exit both a long and short at the right time. took profit within my comfort zone but, as usual, that was TOO SOON. never mind.

thanks for the link.

t.

PS how have you been doing with your chart? has it been offering up good timing opportunities? hope so.

t.

Hello guys/gals
Just killing time watching the screen and waiting for the yankee auction to start.
I reckon today as Dj newswire says the market is going to open mixed so reckon it is going to go south then north and possibly get to around 9925-9935 and then take a dive south.
Have been watching the morning and seems stagnant at around 9825 +/- 15 dec dow.
I have take a long out opening at 9818 and looking in credit at present.

Watch the market carefully today as we dont want to be had by the sharks.

rgds
zarif

Afternoon.
terod, I know what you mean about taking profits too soon. I have the same nerve problem. I do believe it is better to take those small profits because they make you feel good and build confidence as well as increasing the pot to give you more insurance when your nerve improves.
I don't think it is ever too soon to take a profit. I'm fast learning that patience is the most difficult part of this. Waiting for the next signal can be a real bummer.
I am not following the chart very well as explained. I am determined to follow the whole trade next time.

Hi, Snoball:
Just recieved the goody from Nick Storer and cant wait to get started on it-But Alas have to trade first then get my bearings round the software.
I will need your help and assistance if u dont mind to get this monster working properly as i am new to all this hitech stuff.
You mentioned that u will let me know where i can get eod data and also where i can get a live feed for it from.Can u give me and idea as to how much the live feed is per month etc.

How are u on trades today?
I am going long then shorting as opps arise.

good luck and thanks

Ps: the live chart link that megabucks gave on the dow -seems to be dead at present so dont know what the trin is at present.
Looked at marketgauge site and found all Bulllish indicators on the dow.

rgds
zarif

Hi.
Dow seems to be stagnant around the 9850 +/- 15 odd points on daily quote.
looks ominous as cant defeat that resistance point-mind you the vol is not heavy and more decliners than advancers -mild profit taking -looking at opps to short today.

rgds
zarif

Just took out a short opening at 9862 daily wall street and am just watching.
How are your trades going today???
not enough volatility today.
rgds
zarif

hi all,

AH HA, SUCCESS.....called the LONG spot on and since cashed in and gone SHORT, will happily take whatever comes on that.

t.

now closed out SHORT....trading sideways (just as well as it's BATH TIME for the children!) could soon offer SHORT opps.

t.