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

Afternoon everybody:
The Ym Auction starts in about 25mins. Watch the action -dont dive in as the advice given by melnibone is very valid as things can go pearshape and u would be stuck in a limbo trade.
If u go in with a gunslinging attitude u may get away with it a couple of times and then the market will eat u up alive.

rgds
zarif

Key ranges and data for today 9th dec 2003

Dow hit the 10k -now where to from here is the 22dollar question? profit taking,consolidation etc etc

rgds
zarif

My guess is that it will whipsaw until we get
the guidance from the FED.

Interest rates won't move, but the comments and
guidance may change which will initially cause
some spikes in both directions before it settles
and takes direction.

Which ever way it finally goes will determine
where the FTSE opens up tomorrow.

That's all a bit like stating the obvious, but I
think that we sometimes try to look too deeply into
things and end up double-bluffing ourselves.

Melnibone.

wellsaid melnibone. Let the market dictate our actions rather than us try to emulate as to what it will do.
rgds
zarif

You can't do it on this site, but use your
trading package or a different charting site
to change the period to weekly rather than daily.

You'll find that for the past 14 weeks there has
been a distinct trading pattern.

1 week down followed by 3 weeks up.

This is currently the third week up in the cycle.
If the cycle continues, this week should end up higher
and decline next week.

If the cycle breaks we could enter a new trend.
We should find out after the FED decision.

Melnibone.

Thanks melnibone -will start looking at charting sites and get it posted asap.
rgds
zarif

By the way, that last post referred to the S@P,
not the DOW.

I think that the S@P is more indicative of the
future direction of the FTSE, which I trade, than
the DOW.

Melnibone.

Dont worry melnibone will do both of them and see what patterns we can collate.As they say a picture is worth a thousand words.
zarif

Ah missed Zarif in the tea rooms and thought he may be in here
(afternoon melnibone) just dropping off tea and do'nuts to sustain
the pair of you whilst you're working on the Dow.
Good Luck!

Stockbunnny - inearly thought u were out looking for who ordered the rabbit stew from gds cafe -not guilty as charged bcoz- i only had a virtual cuppa D before the Ym auction around 14.05hrs.
rgds
zarif

ps: rabbit stew would be nice on these winter nights!!!!

Got 2 shorts on one from 9991 and yesterday at 9926. the one from the top has already made ample credit to close the other one off. Also have a long eur/usd open from lastweek which is looking very healthy.

rgds
zarif

Just what the doctor ordered. A big sell off. (Thank God)

Well done Harlosh,
you played the risk/reward angle correctly in my opinion.

Just had a read of another trading site that I browse and
a load of guys played the 3 spike theory and are long on
the DOW from the 9970/9980 area.
Their finger nails are rapidly disappearing.

Teach 'em to read this thread in future. :-)

Anyone care to hazard a view on the FTSE after the
opening drop tomorrow morning?

Melnibone.

Well played harlosh -good call.
Melnibone a theory is a theory -just a hypothesis -sometimes may work sometimes not and definitely refutable as shown by no nails on their fingers which must have been scalded no doubt.
Guess on ftse would be follow the Ym trend- ie trade lower btw is the gordon brown prebudget speech tomorrow?

rgds
zarif

ps: closed the shorts in good form today.have left the long EUR/USD still running as is still in uptrend.

yes Gordon Browns pre budget speech is tomorrow afternoon - don't forget to ignore what he wants you to hear but to read the small print afterwards!!! oh the cynic to the govt!!!

Why did you close your shorts? the way you've been posting i would have expected you to think they had further to go? - i'm trying to learn how you play the indices from the charts (and also I'm short Jan Dow 9952 just for a small stake)

Yes, Gordon waffles tomorrow.

If these US levels hold here, FTSE may open near
S1 at 4357.

I've got this 4357/4360 area as an important
weekly level. If it breaks we should see the 4320/4330 area.

Melnibone.

Hi Guys

Thanks for the comments. I've had a good couple of days but as the saying goes 'one swallow doesn't make a summer'.

I'm out of the market till tomorrow. Not sure where we go from here.

The trend is still up so I don't like being short for too long in such conditions.

See you all tomorrow.
Good night.

Wow, where is everyone today?

Zarif, it's not like you not to be here. It's funny but I worry about you now if your not here, as if something unexpected has occurred.
Hope everything is OK.

Harlosh just got in and before i went out had a short on which closed out in profit should have left it running-but no need to get greedy.Nice to know someone cares.
Seems range bound today-not much happening at present.

rgds
zarif

Hi Zarif.
Good to have you back
How do you monitor your foreign exchange trades. Is it a live feed?
I'm interested in sreading my wings.