The Stock Market

[zorro1]

boom, intel the worst kept secret on the dow, insider trading This was the big one 10,000 next 2 sessions

[badge]

Id be impressed if the ASX can get over 4800

In fairness Im not easily impressed 4800 been rejected twice now. Wonder how significant a hurdle it will be?

Seems '3rd times the charm' I really am impressed, I assumed some sort of correction would ensue before a break of 4800. Infact it still seems stretched to my eye However, next real area of congestion I also see is 5275-5375!

This is just 1 reason I dont trade ASX

[lannarebirth]

Id be impressed if the ASX can get over 4800

In fairness Im not easily impressed 4800 been rejected twice now. Wonder how significant a hurdle it will be?

Seems '3rd times the charm' I really am impressed, I assumed some sort of correction would ensue before a break of 4800. Infact it still seems stretched to my eye However, next real area of congestion I also see is 5275-5375!

This is just 1 reason I dont trade ASX

I wanted to trade Australia. The hours to trade US markets from Thailand are just horrendous and take a severe bite out of my quality of life. I traded Sydney Futures Exchange for a few weeks and discovered it to be such an illiquid market that my trades actually moved the market a couple of times. For a trader (this one anyway) that is frightening. Back to the bad hours and near infinite liquidity of the US.

[midas]

Of course the US stock market, the paragon of virtue that it is, is sure to never have to suffer the same indignity.

Oct. 13 (Bloomberg) -- Egypt’s EGX70 Index fell the most in almost two months after the stock exchange suspended trading on 26 small and medium-sized companies on concern that some share prices may have been manipulated.

The stock exchange suspended 26 companies, many of them on the EGX70 Index, including Egypt Contracting Mokhtar Ibrahim, Rakta Paper Manufacturing and GMC Group for Industrial Commercial & Financial Investments, from trading because of gains in the stock price that have not been driven by “material events,” according to a statement on the exchange’s Web site.

http://www.bloomberg.com/apps/news?pid=new...id=amVjBo3f8HII

[badge]

I wanted to trade Australia. The hours to trade US markets from Thailand are just horrendous and take a severe bite out of my quality of life. I traded Sydney Futures Exchange for a few weeks and discovered it to be such an illiquid market that my trades actually moved the market a couple of times. For a trader (this one anyway) that is frightening. Back to the bad hours and near infinite liquidity of the US.

Yes, the Australian markets are pretty limited. A chap from London moved there with the same intention a couple of yers ago, and has since sold up and is back in Europe

Have you considered trading Europe? In particular that small island just off the European mainlands' coast called Britain? It has a very sophisticated array of exchanges, more so than many US exchanges IMO

Current hours are 14:00 - 22:30 for cash equities. Longer for Futures naturally.

[Naam]

Of course the US stock market, the paragon of virtue that it is, is sure to never have to suffer the same indignity.

Oct. 13 (Bloomberg) -- Egypt’s EGX70 Index fell the most in almost two months after the stock exchange suspended trading on 26 small and medium-sized companies on concern that some share prices may have been manipulated.

the daily volume of the stock market in Egypt (and most markets in the Middle East) is equivalent to the volume of a few seconds in London and a fraction of a second in New York.

[zorro1]

hmmmm futures way up , great day today and tomorrow could be an increadable sell opportunity. will have a big think in the morning could be a good time take profits, then again maybe we just starting the next leg? will keep a close eye on volume tonight, Intel really upend the stakes today and got a feeling we may see large volume djia tonight.

Cnbc was a crack up comedy show last night. The girl who does the late shift with kramer looks up at the screen and says with a wry smile " i wonder who is buying intel" of course the results weren't know until after the bell

Agreed with oz stocks illiqued. I had a large holding on a penny stock few months back trading in 0.01c bids and the only way to pick up my profit was to sell down a whole cent through several lines and triggered a few stops and everyone panicked selling it down another cent the next day on a very red dow. Bought the lot back same price I paid for them several months before. Also been on the receiving end, not pleasant

[loong]

The German Dax just went to new year high and I've opened a very small long position.

I'm thinking that I am one of the last bears remaining, and you know what happens when the last bear gives in

Edited October 14, 2009 by loong

[Naam]

The German Dax just went to new year high and I've opened a very small long position. I'm thinking that I am one of the last bears remaining, and you know what happens when the last bear gives in

when the last bears give in my belly advises me to be more cautious and alert than ever.

[zorro1]

The German Dax just went to new year high and I've opened a very small long position.

I'm thinking that I am one of the last bears remaining, and you know what happens when the last bear gives in

Who are you? and what have you done with Loong???? Loong if they tied you up and using your pc try to drag the chair over when they gone and type SOS with your nose. I can find you via ISP.

[zorro1]

The German Dax just went to new year high and I've opened a very small long position. I'm thinking that I am one of the last bears remaining, and you know what happens when the last bear gives in

when the last bears give in my belly advises me to be more cautious and alert than ever.

oh no this cant be happening..Loong stay a bear I will supply you with free berries and salmon for a year . serious I need the dow to hold a bit longer, good grief that only leaves Midas , please Buddha give midas the power to google more bad stuff Ill even read it , promise ,just dont let him turn Bullish

[loong]

The German Dax just went to new year high and I've opened a very small long position.

I'm thinking that I am one of the last bears remaining, and you know what happens when the last bear gives in

Who are you? and what have you done with Loong???? Loong if they tied you up and using your pc try to drag the chair over when they gone and type SOS with your nose. I can find you via ISP.

No my friend - It is I.

Finally my charts told me something that I can use. After months of adding and erasing support lines, that period of consolidation, gave me a (hopefully) useful reference.

I've attached a line chart for clarity as less noise - Daily Dax.

I like to trade off of support and resistance and when a support is broken I like to see confirmation that this support line has changed sides and is tested as resistance, When the new resistance line is broken, it's time to go long.

Normally, I would wait for the close of the daily candle before opening the position, but as I had confirming signals in the lower time-frames, I went for it.

Here's the same chart in candle form

So, it's just my charts telling me what to do. I'm still bearish, but there could easily be another 20% move up before the bears kick in, so when I get the signal to go long, I will take it.

Also Mr Fibonacci gave a pointer - from the last low high there was a retracement of 61.8% and this gives me a target of 5950.

In a normal market, I would have been in at about the 5650 level, but this has been nothing like a normal market.

Of course, If all the other remaining bears change allegiance now, expect the markets to tank

[midas]

The German Dax just went to new year high and I've opened a very small long position. I'm thinking that I am one of the last bears remaining, and you know what happens when the last bear gives in

when the last bears give in my belly advises me to be more cautious and alert than ever.

oh no this cant be happening..Loong stay a bear I will supply you with free berries and salmon for a year . serious I need the dow to hold a bit longer, good grief that only leaves Midas , please Buddha give midas the power to google more bad stuff Ill even read it , promise ,just dont let him turn Bullish

NEVER :D

[loong]

The German Dax just went to new year high and I've opened a very small long position. I'm thinking that I am one of the last bears remaining, and you know what happens when the last bear gives in

when the last bears give in my belly advises me to be more cautious and alert than ever.

oh no this cant be happening..Loong stay a bear I will supply you with free berries and salmon for a year . serious I need the dow to hold a bit longer, good grief that only leaves Midas , please Buddha give midas the power to google more bad stuff Ill even read it , promise ,just dont let him turn Bullish

Thanks, but we get plenty of berries and never eat salmon, however, prawns, crab and tilapia are a different kettle of fish. I warn you though, my missus can eat her way through all the prawns, crab and tilapia in existence! I actually prefer catfish and a years supply of catfish for me would only be about 1 Kilo per week, so about 2,250 Baht for the year. My position on the Dax is far exceeding that as I write, but I could still be tempted by your offer

PS, I'm sorry if I was a bit harsh in previous posts, I was truly worried by some of the things that you posted and I don't want you to make the same mistakes that I have.

[moneyshot]

Dow just opened 100 points higher... Another 20 odd more points to the magical 10,000... Will it happen???

[zorro1]

we gonna give it a nudge but gee its a BIG ONE to knock over in 1 hit. We were always going to open 50+ on the dow, Intels ANN came after closing bell so we had the jump on them today but watch the profit taking tomorrow....

[flying]

boom, intel the worst kept secret on the dow, insider trading This was the big one 10,000 next 2 sessions

Well you called it

Now 50% retrace is about complete. 10,300-10,400 would be it.

Should we fasten the safety belts

[zorro1]

boom, intel the worst kept secret on the dow, insider trading This was the big one 10,000 next 2 sessions

Well you called it

Now 50% retrace is about complete. 10,300-10,400 would be it.

Should we fasten the safety belts

61.8 FIB is the much number right? so we got a ways to go yet. Tell me if Im getting it wrong here

[flying]

61.8 FIB is the much number right? so we got a ways to go yet. Tell me if Im getting it wrong here

My basic premise.....

DOW high was 14093

Dow low was 6626

Difference of 7467

Half of which is 3733.5

6626 + 3733.5 = 10,359.5 50% retrace

[zorro1]

Flying, no shortage of profit taking but more like panic today. The avg punter thinks we should up massively, silly buggers dont realize that our up day was yesterday as we a had a jump on the usa re Intel, they reacted last night

[zorro1]

boom, intel the worst kept secret on the dow, insider trading This was the big one 10,000 next 2 sessions

Well you called it

Now 50% retrace is about complete. 10,300-10,400 would be it.

Should we fasten the safety belts

some how i dont think so 10,000 is a big signal to mom n pops. Even though I did reduce my position on some stock today and had to buy back one at higher price grrrrrrrrrrrrrrrrrrrrr..

traded like a dunce LOL but still long on MII, PEN, CUY, BCN (from way back) but loaded up on BMN today, they right next door to EXT who have rio and polo fighting it out for a take over. Unbelievable ,same patch of dirt in Nambia and both were same price 1.5 years ago and ext $10 now bmn $1.19 the most undervalued U stock on the ASX due to lower grade U at this stage more drilling to come. thats it no more tips

I knew what would happen and still I fell for it and sold some into the panic, not to much damage done

[zorro1]

61.8 FIB is the much number right? so we got a ways to go yet. Tell me if Im getting it wrong here

My basic premise.....

DOW high was 14093

Dow low was 6626

Difference of 7467

Half of which is 3733.5

6626 + 3733.5 = 10,359.5 50% retrace

there should be solid buying untill 61.8 % retrace. T/A make it a self fulfilling prophecy same as gaps, some stock retrace up to 30% just to fill the gap and bounce straight back. T/A rules and I must learn more. The new wave of punters swear buy it . I still got the berries Loong .....what are your thoughts on s/term dow?

[midas]

Hey zorro they said because your are biggest cheerleader

they were going to send one of these to you today by special delivery

[loong]

......

.................... ............................. ................................................................... ........... .......... .

there should be solid buying untill 61.8 % retrace. T/A make it a self fulfilling prophecy same as gaps, some stock retrace up to 30% just to fill the gap and bounce straight back. T/A rules and I must learn more. The new wave of punters swear buy it . I still got the berries Loong .....what are your thoughts on s/term dow?

Really depends what you mean by short term

Weekly chart shows no real resistance until 10,300 and that resistance line coincides with the 50% retracement about 12 trading days in the future, so it could be a strong resistance.

On the daily chart, there have been 3 significant highs during the course of this rally, and each high has had a lower MACD high. This Divergence with the MACD does suggest that if it hits, but cannot break resistance the next time, a major turndown will occur.

During the next few Daily candles, it looks like the Dow will enter a resistance zone with very strong resistance at 10,367. I believe that this zone ranging between 10,150 and 10,367 will be make or break time! If it can break, say 10,400 - then the skies the limit. If it gets stuck in this range for a while, but cannot break up, its likely to backtrack quite sharply to about 9,600 then consolidate. Next step down from there would be support at about 8,800. If it doesn't find support at this level, then it will fall faster than bulls jumping from their penthouse' windows.

As I've said before, I prefer the German Dax as a bellweather as Germany has a real economy and usually has a trade surplus instead of a massive deficit.

Also, I'm not sure, but is the Dow artificially high? Only consists of 30 companies and has lost 2 in the last year to bankrupcy, as I don't really pay attention, I don't even know what replaced them

Dax broke resistance yesterday, but is hardly flying today.

I briefly visited the bulls' camp yesterday, but I think that I will be returning back to the safety of the bears

I look forward to the berries

Edited October 15, 2009 by loong

[zorro1]

Hey zorro they said because your are biggest cheerleader

they were going to send one of these to you today by special delivery

Midas emerging from his bunker june 2050 hailed as a hero and the wealthiest rice owner in the new world , rice had multiplied by 20,000% and dow is at -36

[zorro1]

"I briefly visited the bulls' camp yesterday, but I think that I will be returning back to the safety of the bears

I look forward to the berries "

Always wondered why a bear would call himself Loong! nice charts but since we haven't nor the dax broken support i wonder why you switch so quick. Naam tell me why?

Sorry Loong but forgot to mention you got to perform tricks then you get a Berrie, nothing free in this world

Edited October 15, 2009 by zorro1

[Naam]

Always wondered why a bear would call himself Loong! nice charts but since we haven't nor the dax broken support i wonder why you switch so quick. Naam tell me why?

i have no idea on what Loong-Bear bases his decisions

[zorro1]

Always wondered why a bear would call himself Loong! nice charts but since we haven't nor the dax broken support i wonder why you switch so quick. Naam tell me why?

i have no idea on what Loong-Bear bases his decisions

I think he went short yesterday, kind of odd for a bear to declare his now a bull at the topy end of this cycle

[loong]

Always wondered why a bear would call himself Loong! nice charts but since we haven't nor the dax broken support i wonder why you switch so quick. Naam tell me why?

You promised me berries and salmon if I switched back to being a bear. As a bear, I haven't been able to afford to eat such luxuries for months

I think he went short yesterday, kind of odd for a bear to declare his now a bull at the topy end of this cycle huh.gif

No shorts yesterday. Went long on Dax and still long, but only for the short term, I think. We will see what develops.

At the moment, most of my trades are in Forex and I can be bullish one week in a currency pair and totally bearish the next. It all depends on my interpretation of the charts.

I have been trading for nearly 10 years and it's taken me this long to learn that fundamentals count for diddley squat in the markets. Technical analysis is all that matters.

From now on, if my charts indicate that I should be bullish, I will be a bull and vice versa. When the charts are indecisive, I will be a neutral and take no part.

[zorro1]

Always wondered why a bear would call himself Loong! nice charts but since we haven't nor the dax broken support i wonder why you switch so quick. Naam tell me why?

You promised me berries and salmon if I switched back to being a bear. As a bear, I haven't been able to afford to eat such luxuries for months

I think he went short yesterday, kind of odd for a bear to declare his now a bull at the topy end of this cycle huh.gif

No shorts yesterday. Went long on Dax and still long, but only for the short term, I think. We will see what develops.

At the moment, most of my trades are in Forex and I can be bullish one week in a currency pair and totally bearish the next. It all depends on my interpretation of the charts.

I have been trading for nearly 10 years and it's taken me this long to learn that fundamentals count for diddley squat in the markets. Technical analysis is all that matters.

From now on, if my charts indicate that I should be bullish, I will be a bull and vice versa. When the charts are indecisive, I will be a neutral and take no part.

"I have been trading for nearly 10 years and it's taken me this long to learn that fundamentals count for diddley squat in the markets. Technical analysis is all that matters."

Absolutlely 100% correct. the new wave use a stock simply as a symbol that may emerge on the radar when macd"s and volume etc turn up and then its a buy!

intra day T/A however is amazing and Im very keen to learn more . You know any good books Loong? maybe I should just fork out a few K and attend one of those seminars in Florida. Im not kidding. 10 years is to loong sorry meant long.