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A short at yesterdays close, with a tight stop might be a trade worth trying today. If one should be so inclined.

Afternoon all:
The YAnkee market (call it the casino0 going to open in 18mins.
My view is that we will get a pop up and drop.
Also to watch that if we dont get a reversal rally up after 16.00gmt than the odds are that it will drift lower all day -But as usual my strategy can be blown out by the wind. Nag .Dyor.
rgds
zarif

A 90 point drop at the open. Pity I didn't put money on it.

Snoball Managed to get the short at open and the long at 15.30 and am out now.
Just watching

Hi guys, I had a good long on Monday that I opened late Friday. Stayed out yesterday and today. Whats your take on tomorrow, modest fall IMHO. Any of you trade on the price of oil - time to go short?

Hi Baughfell.
Welcome to the Dow thread.
I have the long term trend as bearish on the Dow.
Timing the short entry is tricky though as we seem to be in a retracement.
I have 9828 as support for now.
Dow Chart

I haven't been following the oil prices but PMO has been doing well lately.

Cheers snoball, DJIA just closed down 123 with oil at a new high. Volatile times, even a modest punt today would have given a good return.

Keep up the good work Zarif, Your close mate. You will have to get that cam and card to me soon.

Hope you bet on it Baughfell.

Hello everyone:
Nice trading yesterday. As i keep saying Dont try to pick the tops and bottoms as you will end up with "sticky Fingers".
The Trend is Down atm -so dont try this Contrarian thinking as being one of them can be a lonely status!!!
The strategy i am using is Shorting the Mini Rallies and if its right to be out as a scalper well and good. On the other hand if it tanks like it did yesterday then lock in profits and take it at the end.
So today what is my view? I think we will have rising prices and maybe towards the end sell off (or the other way round).
Dont think of bull or bear trend -BE in the Right Direction and position.
rgds
zarif

Cricket -emailed you in the morning.

I think we should expect some upside above 9815 on the Dow. If the futures haven't already gone there.

Looks like the Dow traders have gone off to the Hamptons for the weekend.

Snoball - very quiet on mam atm.
The black Stuff reached 46.65 at around 19.30gmt. i was long from 45.30 so am happy for now.
Regarding the dow will have to watch monday to see whats going on. Just been scalping and managed a long and short on cable.Now flat on all trades except oil - Which hopefully will close asp on monday when it opens at 15.05 nymex.
have a good weekend
zarif

Zarif, I'd be interested to hear your method of scalping. Are you trading the index or individual stocks?

baughfell:
I Trade mainly the Dow index, Sp500 and dax -very rarely the ftse. Individual stocks i dont do.

Afternoon all:
So what Do we think Monday is Going to bring Us?
My view is that we are going to have a bit of a bounce today (bear squeeze?) and that the general trend is still down so best to scalp in/out otherwise safer to short the rallies. If in doubt stay out. Also watch the oil prices as the indexes are doing the opposite to the oil prices. I feel todayt we are going to get higher prices as the day goes on. theideal scenario being a higher opening and then trailing down till say 3pm gmt and then track upwards. Thats my view and can be blown to smitherens.Dyor Nag.
Ps: look at snoballs Dow Chart as it depicts the scene quite well.

rgds
zarif

Afternoon all:
Data out of Us at 13.30.
Well we had a bit of a bounce yesterday, the oil retreated of the highs yesterday.The Volume was low as usual the trin was around 0.37 so what does it all mean?
My take is same as before short the rallies.With trin at that level suggests to me a retrace sell off at beginning or close than higher to sideways prices.
thats my view but will see what unfolds before jumping in on the playing field.
rgds
zarif

The Bullish Percent Index looks interesting.

The Bullish Percent Index appears to be turning bullish.

Afternoon All:
Well we had a rally yesterday and in my earlier posts did say that we have a good chance of going Up on 18 -19th Aug.- albeit on small thin volumes. So what are we going to get today with the Oil Gushing past the 47USD mark and no relenting? Also today is the jobless figs. Leading Indicators and Philly fed.
Tomorrow is double witching day and bear in mind that we have had nearenough 4 UP days. i think we will have a volatile market and hopefully be able to scalp our way.Remember the countertrend is UP but the main trend is down.
Look at The Dow Chart that Snoball So generously gives to Us for a better understanding the market.
trade wisely and safely

rgds
zarif