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DOW JONES @ LIVECHARTS

Hi guys,

As I've said before I trade FTSE stocks, not the DOW, but
you asked folks to put their view on this thread for
consideration.

So far I've been wrong this afternoon, I bet that instils you
with confidence in this post.;-)

Due to the uncertainty with the terror attacks and the proximity
of the weekend, I did not expect many new long positions to be
taken over today or tomorrow.

What I expected was a 'u' shaped chart day as Bears drove down
prices to find value Bull buyers and then bought back to go flat.
Doesn't appear to be happening.

One possibility is that I am right with my reasoning, but we
end up having an 'n' shape chart day as daytraders go flat from
the other direction.

Not saying I'm right, just a view for your consideration.

Melnibone

melnibone:
your comments are always welcome and as i have said b 4 doesnot matter whether good/bad.everyones opinion is welcome as we can form a better picture.many times we see only what we want to see.

Anyway was getting bored and had been wanting to try curreny trade which i had never done b 4 so gave it a go. Next step is to do individual shares on s/b and see what happens.

: short open dec EUR/DOLL At 11889 at ?5/pt

please do keep visisting us often and make sure we keep out of mischief

rgds
zarif

Thanks for your reply Zarif,

I've only been posting on this site for a couple of weeks
and was unsure if my views were welcome or not.

There doesn't seem to be the same amount of 'Alpha Male'
wannabees that you get on other sites, constantly trying
to score points off each other.

I'll keep adding my 2p worth on the understanding that it
is purely a personal view and for consideration only.
I don't pretend to be a Guru.

What matters is your view, it's your money.

Melnibone.

Melnibone,
I still have 'L' plates so your views are appreciated.
Looks like your 'n' shape is taking.........shape

Regards

Just had a look at your charts at the top of this thread.

Still 40 mins to go, but maybe my 'n' shape chart type
day isn't so far off the mark.

Melnibone.

Thanks for the reply Harlosh,

Looks like our posts crossed. :-)

Melnibone.

Hi, y'all,
Closed my Dec short for -20 points.
A lot better than it was earlier, phew!
What's the betting there will be a bounce now into tomorrow.
The price hasn't, yet, broken the lower channel and it has tested the high channel. My guess is it will close up tomorrow.
But what do I know?

Well done snoball:
was bored so opened a long dec dow 9645 at ?2/pt -lets see what happens -maybe it might just shoot up at close or wait for some bounce tommorow.

So what's this 'n' shape stuff then?
Some secret trading strategy I can learn from then? ;-)

So what's this 'n' shape stuff then?

Some secret trading strategy

Nah!

Just look at the chart shape and tell me which letter
you see. ;-)

Still 15mins to go so we may get another alphabet shape
yet. ;-)

Great sence of humour on this thread, I love it!

Melnibone.

I'm going to trade the daily tomorrow rather than leave anything on overnight.
See ya then.

next stop 9600? 9620 broken.
New lows being hit now.

I'm short at 9625 so was glad to see the fall in the last hour or two.
Hoping for more of the same tomorrow.

evening all,

what a day it has been, up and down like a bride's nightie :-)

1st time playing the S& P long and short tonight very good it is a lot more relaxing than the dow.....

Hope you did not get burned to much today and kept your pots in tack...

what will tomorrow bring aint got a clue can any one look into there crystal ball please and tell me ??????

Mega...

Melinbone.

I would like the letter I tomorrow - straight down.

Can you fix it?

Harlosh

Certainly went down lower than monica lewinsky ever did!!!!!!!
I hope it bounces up a bit so can liquidate my long and then Monica lewinky time again would be great.
Ps: on a serious note tomorrow may be v.volatile as the options expire and they try to cook the books.

rgds
zarif

can any one look into there crystal ball please and tell me ??????

Just a view, but it kept me safe today looking for lower buy prices.
Even if we did get an 'n' shape chart instead of my expected 'u'
shaped chart.

If terror attacks were expected would you take out new long positions
with the weekend approaching?

I certainly wouldn't.

If folks were not buying where would the pressure come from to
raise stock prices?

Flat to down is my view.
(And that's all it is, a view)

I expected a 'u' shaped day but got an 'n' shaped day,
the result is the same for position traders but obviously
totally wrong for daytraders.

Daytraders would have lost money on my previous call of
a 'u' shaped chart, but position traders would have been ok.

Your money, Your timeframe,
Your call.

Melnibone.

Hi Harlosh,

I'll try for an 'I' day, but it's about time we had
a 'w' day.
IE. Nobody really knows.;-)

Melnibone.

long s&p 1033.4 tight sl over night so i can sleep :-)

Afternoon everyone:
Wonder whats in store today. I hope some more of yesterdays action as i have got my shorts on ( i mean my pants not positions - i have got one long open from lastnight dec dow opening at 9645 - i hope it gets fulfilled b 4 the open)

On a serious note guys/gals be careful as might be spikey and volatile with the options expiring today and them cooking their books. As we are all shipmates must find safe harbour "Any Port In a Storm"!!!!


Indexes continue to drop. Watch support. (courtesy of DATAI)

3:30 PM EST - The indexes are continuing to retrace after breaking through the lower trend line of the downside pennant consolidations formed earlier. They are continuing to drop to their support levels. Watch for a further break and move lower, or a bounce and move higher within the range. The following are the lower support levels.


Dow - 9,615


NAS - 1,880


OEX - 512


NDX - 1,362


SPX - 1,033