cynic
- 20 Oct 2007 12:12
rather than pick out individual stocks to trade, it can often be worthwhile to trade the indices themselves, especially in times of high volatility.
for those so inclined, i attach below charts for FTSE and FTSE 250, though one might equally be tempted to trade Dow or S&P, which is significantly broader in its coverage, or even NASDAQ
for ease of reading, i have attached 1 year and 3 month charts in each instance
Time Traveller
- 14 Apr 2010 16:17
- 5037 of 21973
skinny, are you short the Dow then?
12K looks like the ideal place for the Dow to head. Then it can crash down around us!
halifax
- 14 Apr 2010 16:20
- 5038 of 21973
cynic are you still short the DJIA?
skinny
- 14 Apr 2010 16:21
- 5039 of 21973
TT - when I posted Balerboy had mis typed it as 1200 ! But I am short UKX (just) and sold most of my BARC this afternoon - so probably new highs to come all round :-)
Master RSI
- 14 Apr 2010 16:56
- 5040 of 21973
TEA TIME FUN
Stock market correction
cynic
- 14 Apr 2010 21:55
- 5041 of 21973
halifax - yes i am but delighted if proven to have made wrong choice as am long with everything elsewhere - it was/is just good insurance
jimmy b
- 15 Apr 2010 02:08
- 5042 of 21973
Over the 11100 now ,could be pushing towards 12000 ,could be turning down tomorrow , dangerous game shorting the Dow, i don't see how you can call it..
Master RSI
- 15 Apr 2010 11:06
- 5043 of 21973
From the TELEGRAPH.................
Bernanke expects 'moderate' US recovery
Ben Bernanke, the Federal Reserve chairman, warned that the US economy will recover at a "moderate" pace and that significant time will be needed to claw back jobs lost in the recession.
In cautious remarks on Wednesday that belied Wall Street's gathering optimism, Bernanke warned that the US economy continues to face strong headwinds as it attempts to pull out of the worst recession in a generation.
"If the pace of recovery is moderate, as I expect, a significant amount of time will be required to restore the 8.5 million jobs that were lost during the past two years," he told lawmakers.
Bernanke expects moderate US recovery
Camelot
- 15 Apr 2010 15:11
- 5044 of 21973
Camelot - 12 Apr 2010 06:46 - 5016 of 5043 edit this post
"Time has surely come to consider shorting Dow"
why ? ; why now ?
you could have said that at anytime in the last year.
picking tops is a mugs game
cynic
- 15 Apr 2010 15:33
- 5045 of 21973
picking bottoms gives you smelly fingers
to repeat for the umpteenth ..... no market can continue indefinitely in a straight line in either direction ...... there are a number of chart indicators that imply that a correction on dow is now well o'due
jimmy b
- 15 Apr 2010 15:48
- 5047 of 21973
cynic ,BUT WHEN ??? thats my point ,you will be right at some point but if you shorted it this week you have already been stopped out ,,it's like playing roulette ..
cynic
- 15 Apr 2010 16:34
- 5048 of 21973
klal ..... read and/or do your own f'ing research!
jimmy ..... no i am not stopped out, though i have set my own personal pain threshold; as for being like roulette, it's no different than going long or short of a stock
splat
- 15 Apr 2010 16:42
- 5050 of 21973
cynic - klal does, and plenty of it! I read that as an innocent question asked out of curiosity.
cynic
- 15 Apr 2010 17:04
- 5052 of 21973
off you go then, where perhaps someone else has more patience than i to explain some very basic facts about charts - which of course are only a tool anyway
Chris Carson
- 15 Apr 2010 17:17
- 5053 of 21973
Cynic - Surprised at you reacting like that towards klal, was a good question. At least have the good grace to admit that so far anyway your timing if nothing else has been suspect!
cynic
- 15 Apr 2010 17:34
- 5054 of 21973
i'll accept that perhaps i was a bit and unusually snappy, so my apologies
however, you will find several previous posts of mine where i advise of apparent resistance or similar levels ..... mostly these are courtesy of my "chart guru" who is generally/often pretty accurate on these things ..... his logic, insofar as charts are ever logical, is based on something quite complex called GANN Theory
in this instance, 11000 should have provided the "tipping point" with 11100 as the suggested stop-loss ..... in fact, i only went modestly short at a little under 11100
while it is of course currently out of the money, the damage is more than bearable, not least because, almost de facto, other stocks are rising
in fact, i don't often back the indices, but certainly use them as an indicator with regards to whether to buy or take profits elsewhere
Chris Carson
- 15 Apr 2010 17:37
- 5055 of 21973
Thanks cynic understand your thinking now.
Chris Carson
- 16 Apr 2010 16:20
- 5056 of 21973
Looks like the Goldman Sachs new saga should make you a few bob now cynic :o)