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International Index Trading

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gunna be a tough day me thinks

Quite often get a huge gap followed by narrow range, choppy trade after the yanks make a really big move like this.

Though I really hope I'm wrong today
 
gotta say I took a short about 30 mins before the close of all sessions so fingers crossed we don't spike too much from here - not ideal but hey ho thats the way it goes. looking for some pull-back at the open, gap up for the open is currently around 88 on spreadbet (only trade s/b out of hours fwiw)

Risk is there could be lots of stops just over the consolidation we've been in for the last couple of months so might just rocket as we all cover
 

Think there could be a short on the open Ed. Would want to be careful in case it holds above the highs of the past month. Personally, I'm favouring the gap and chop scenario- I've been disappointed quite a few times expecting something good here after a massive move in the dow, so I'll be dropping size and trading pretty lightly today(can't not trade at all, just in case I'm wrong)
 

yes I think you're probably right Professor - could well pop & grind, either way I'm not expecting it to come back a lot given the way US finished so finger on the trigger
 

Looking at it now that I've got all my data loaded- the o/n session hasn't moved up anywhere near as much as I expected, considering what's happened o/s. My first thought was for a 100+ point gap, SYCOM is up 70 at the close.

If we get a gap up on the morning session to 6445-50 then I'll look to get short for a scalp.
 

yep looks as tho I'm in early - well on the bright side at least we should finally get out of this consolidation! looking as tho it has all been a wave 4 across several markets, we've got a partial decline in the broadening pattern so we could be in a swift wave 3 now
 
stopped out - too much on to watch it all day so have a good day Prof!
 
Edwood said:
stopped out - too much on to watch it all day so have a good day Prof!
Click to expand...

I got the open I was looking for so I'm in- it's not loking too healthy at this stage- still pretty well at b/e, but it really should have fallen by now if it was going to. I'm probably gunna get stopped out but it's only a 1 lot, so I'll see it through to the death
 
well done Prof - looks like my stop was too close, frustrating when that happens...
 
glad to hear G

100x3 PnF count for Dow looking a tad bullish - all long-term stuff but you can see how its achieved all upside targets printed in the past & risk reward for this next target is 4 which is 'good'. not really relevant to short term-ers of course

 
"Most world wide markets have gone on to put in true new highs; the Dow is the only one that has not done so as to do so it would have to trade at least 30% higher then its 2000-2001 high which would mean to break even it would need to trade close to the 14,500 ranges. The only reason we say oversold is because if you use regular TA the Dow is overbought but regular TA cannot price in a dollar that has lost 30% of its value. Since the Dow is priced in dollars it only makes sense that it would have to adjust 30% plus just to break even and from that perspective the Dow is oversold."
 
From my limited tech skills I would be carefull with long trades for the Dow the next few sessions as it is looking to 'consolidate' lower with the hangman formation today, or at least have a very good profit taking session from the highs. Housing spill over & Bear Sterns type contagious flow on effects may start to be priced into accounts in this reporting season.
 

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Anyone follow VIX?

Another couple of down days and we'll have multi year highs... fwiw.
 
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