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DOW JONES @ LIVECHARTS

Harlosh, I know the feeling!
Luckily I am on the right side of the move for a change this time.
Stop moved up to break even on my long January Future.

Afternoon guys/gals:
The Ym futures had juped up some 185pts lastnight at midnight from the news of Saddam Husseins capture (had they bagged osama bin laden aswell reckon the dow would be 11000 odd by now)Be careful of the euphoria as it doesnot make the stock or the index worth more.Watch the opening then place the trades as there will be an upside then surely it has to retrace and dont forget the triple witching on friday.Market cannot be driven by sentiment alone and emotion can change very quickly from euphoric greed to fear and loss.

rgds
zarif

ps: harlosh u missed the newskills seminar on friday - imho i think it was the best that i have been to and the teacher was brilliant and no Bullshit in his work.

rgds
zarif

Zarif,

Sorry to have missed you/the seminar friday - do you know if they are running anymore?

Fundamental.
Yes they are going to be doing some in january as soon as i have the dates will let u know.

megashits- the igindex site is down-tear the hair time!!!!!

thanks Zarif

Beginning to wish I'd covered my January long this morning. It's worth a lot less now.

Isn't hindsight a wonderful thing - if I had said at this time last night that the DOW would go down today, then the people in white coats would have been here in a flash!!!

It's been going up all last week. It was due for some corrective action, Fundamentalist.
I'm still long the Jan future with a profitable stop in now.
I wouldn't be surprised to see some more downward pressure tomorrow but what do I know?

KEY SUPPORT AND RESISTANCE LEVELS

	SUPPORT < ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />	RESISTANCE
Nasdaq Composite	1900	1940
S&P 500	1050	1075
Dow Industrials	9920	10,120

 

 

Hi guys/gals:

I hope u r all trading safely and wisely. I get worried when the market cant lift up with good news as has been happening recently. I think the market is due for a serious consolidation and retracement and could drop like a stone.Be careful as it could give u good gains or massive losses. Dont forget the stop loss placement and lock in profits.

Remember the motto: You must be prepared to take a small loss otherwise it is just an invitation for a bigger unbearable loss.

rgds

zarif

KEY SUPPORT AND RESISTANCE LEVELS

	SUPPORT < ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />	RESISTANCE
Nasdaq Composite	1900	1940
S&P 500	1050	1075
Dow Industrials	9920	10,120

 

 

Hi guys/gals:

I hope u r all trading safely and wisely. I get worried when the market cant lift up with good news as has been happening recently. I think the market is due for a serious consolidation and retracement and could drop like a stone.Be careful as it could give u good gains or massive losses. Dont forget the stop loss placement and lock in profits.

Remember the motto: You must be prepared to take a small loss otherwise it is just an invitation for a bigger unbearable loss.

rgds

zarif

KEY EVENTS TO WATCH FOR:

7:45 AM ET. ICSC-UBS Chain Store Sales for wk. of Dec. 13 (last -
2.5%)

8:30 AM ET. November Consumer Price Index (seen unchanged; last
unchanged)

8:30 AM ET. November Consumer Price Index, ex-food and energy
(seen +0.1%; last +0.2%)

8:30 AM ET. November Housing Starts (seen -3.1%; last +2.9%)

8:30 AM ET. Third-Quarter Current Account (seen -$136.2 Bln; last -
$138.7 Bln)

8:55 AM ET. Redbook Retail Sales for wk. of Dec. 13 (last -1%)

9:15 AM ET. November Capacity Utilization (seen 75.3%; last 75%)

9:15 AM ET. November Industrial Production (seen +0.5%; last +0.2%)

4:30 PM ET. ABC/Money Magazine Consumer Confidence Index (last -
11)

Pivots and s/r for today

rgds
zarif

Dow not giving much away at present -range bound and am just watching at present.

Boy is the dow boring today!!!!! There is hardly any mobvement to make trades.Are they trading today or taken early holidays!!!!!!
I wish somebody would stick a rocket up the dows arse.

Which Dow are you looking at, zarif?
I'm up almost 100 points today.
Stop moved up and still long the Jan future.
This is the longest I have been in a trade on the Dow - since last Tuesday.
I seem to have found a useful stop method but more likely I got lucky.

Snoball -what i meant by boring was the fact that it played most of the afternoon range bound around 10058-10084. Only around lateevening did it make a trek north. I was watching the pivots and r1/r2. I managed a short while waiting to fulfill my long. So boring but profitable. I enjoy it more when there is good volatility.

Anyway how are u doing? We keep on missing each other at the moment on the thread and with xmas nearing -My handbrakes shopping has got serious brake failure.But it has got to be done.

ps: snoball i noticed that the dow chart has not been updating- have i done something wrong or that u have not been able to post updates.

rgds
zarif

What are your views for tomorrow?

zarif, sorry about the chart. I've been messing about with the website and moved it. I will put it back. I also haven't been updating it. I will do so if anybody is interested.

I decided to trade my system with the addition of a new stop indicator I found and also stick to the trade rules no matter what. It's turned out to be not only profitable but very educational in that I am learning what makes me want to cut trades short. Greed and Fear being the main culprits. It's funny how you read about how it should be done and think yea, yea, and then ignore it altogether (or at least I do). I was just getting fed up making stupid mistakes and the only think I hadn't tried was being disciplined. So I thought I would give it a go. So far, it works.

By the way, are you using Metastock yet?

Hi Everyone.

Haven't been around the last few days. More trouble at the shop when I discovered one of my ( I thought) trusted employees was ripping me off big style.

Zarif, that's why I didn't turn up on Friday. Sorry I missed you and so sorry I missed the seminar. I subscribe to Trendwatch publication and Robert Newgrosh (New-Skills) is the only training company they recommend. I also know someone who attends the courses and he also thinks they are brilliant.

Fundamentalist - the next seminar in Manchester is the 19th Feb. The one in January will be in London.

Anyway got well and truly blown out over the weekend with my short at 10009. They did have to go and arrest him just when I'm short (which I rarely am at the moment). I had a large stop loss on so it cost me a good few quid. Ah well, that's the way it goes I suppose. I'm tempted to go short now but they'll probably arrest Osama and wipe me out.

Hope to be back with you soon but I haven't bought the wife anything yet so I've got to miss a couple of nights while I sort her out.

Good luck.
Harlosh.

Harlosh,

thanks for the date update (unlikely I'll make the 19th Feb - work year end is end of Feb) - if its any comfort, I was short the Dow futures over the weekend and the stop loss kicked in costing me.