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

Well that worked! Stop kicked in on this latest drop - question is do I buy back if it drops below my sell or do I walk away!

lw: well done at least u had the guts to try a new way.My advice would be to watch the market as to what highs lows etc are being played and also look at the s/r pivot etc.Also what does the ftse do near close as its at r1 and might just take a hike down. Enjoy a cuppa dont rush in the trade-the market will always be there u get in at the level u want.

rgds
zarif

Little Woman. Well done indeed. At least you have a profit. I have lost more money on the Dow than anything. I rarely trade it now - it's a beast! It is too fond of doing what it has just done - dropping to take out all the stops then surging back up!

Now, if in doubt do nothing. That is taking a position - remember there's always tomorrow. My golden rule is... do not chase prices; let them come to you. I still break it sometimes, but at least I now know roughly how much risk I am taking.

Went shopping as the content of the fridge were a little bare!

Lots of excellent advice - will sort out dinner and do some research ready for tommorrow.

Pardon my ignorance but what is the sigificance of S1 S2 P R1 R2

Thanks for your help

Tariq

Tariq
s1,s2,etc are the support levels. r1 r2 r3 etc at=re the resistance levels. p is the pivot.
Basically once the resistance is succesfully violated than it becomes a support level.
think of it as this analogy: say you are on the tenth floor of a building then the 9th floor where u land is your support and the tenth one with the hole in the ceiling above u becomes resistance as u will have a lot of jumps to try and go to the tenth floor and above.
you can use the supports as entry levels and to set your stops below the support level. and the resistance levels as your targets to achieve profits and lock profits by re-evaluating your stops.
rgds
zarif

Well that was interesting! Bought a single unit as it was pass r2 and heading north! (& not going to take a big risk!) looked like it would hit 103400 but didn't and pulled back slightly - the big question is will it try again!

Looks like it's about hit r3 103400

up 85 as I speak! unbelievable. Now I've got to figure out where to get in again.
hope you're still coining it lw.

just gone short - but only in a small way, just in case!

lw 10429 on the daily just hit. just looking at present and the upside is going like a rocket.lets see what the last half hour does. Did you keep hold on to your long or did u take the profit before hand. i am sure your short will pay.
rgds
zarif

lw,
you've got nerves of steel, obviously.
zarif does the same thing, betting against the trend.
I don't understand it.
every time I do it, I get creamed.

Chickened out at 10425 and went long again! I'm only doing small amounts now, just in case.

COPIED FROM ELSEWHERE:
29/12 22:07 Fed Sets Overnight, 4-Day RPs; Fed Funds At 1%

NEW YORK (Dow Jones)--The Federal Reserve is arranging overnight and four-day system repurchase agreements Monday, the Federal Reserve Bank of New York confirmed.
Federal funds were trading at the Fed's target rate of 1% when the central bank entered the market.
The Fed had been expected to execute overnight RPs.
-By Michael S. Derby, Dow Jones Newswires; 201-938-4192; michael.derby@dowjones.com
(END) Dow Jones Newswires
December 29, 2003 10:07 ET (15:07 GMT)

snoball - not sure what you've posted means! Is it good news or bad news?

If the current long backfired, I would get out quickly and call it a day, but so far it's seem to be working nicely!

I bet that feels better, lw -10445 as i speak.

lw, this is being supported by the Feds.
Not much point betting against them!

So it should carry on up?

Although, when the British Govt some years ago (was it Nigel Lawson) tried to support the , the dealers decided to have some fun, and well and truely screwed it!

Lw: looks that way. but i think it will retrace abt 50pts then up. well played today.
rgds
zarif