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International Index Trading

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wavepicker said:
Thanks CanOz, and good luck. Looks like it might chop around for the next few days, perhaps we can get something better going on the buy side next week

Cheers
Click to expand...

For sure WP, i won't be holding longs o/nite thats for sure, too counter trend for me.

..just scalped a quick 14 pts on the open...i think that will do me for t-nite.

Have fun all.

Cheers,
 
chop...chop...chop.

What used to be a daily range (12-18 SP points) in 25 minutes.

Can be a nightmare or manna from heaven.
 
wayneL said:
chop...chop...chop.

What used to be a daily range (12-18 SP points) in 25 minutes.

Can be a nightmare or manna from heaven.
Click to expand...

yeah it's a bit hard to get a read on the overall direction. Good swings though if you just want to scalp it.
 
Doesn't look like Asia is buying the last minute rally in the U.S overnight.

Today's intraday range in the H-shares has been 737 points, more than yesterday's range and we still have the afternoon session to go
 
professor_frink said:
Doesn't look like Asia is buying the last minute rally in the U.S overnight.

Today's intraday range in the H-shares has been 737 points, more than yesterday's range and we still have the afternoon session to go
Click to expand...

Looks like the Futures traders are on crack today . Huge swings knocking everything around. Think that's the biggest reversal I have seen in a long time. Most of my charts look weird. Some 2 minute bars have got half a "normal" days range in them!!

You messing up HK Professor?
 

Only put 2 trades on, so didn't do as well as I could have- went and had a late lunch with Mrs Frink.
 
from Mike Burke this week on Safehaven



"In 1959 Joseph Granville laid out the parameters for a trading system that was popularized by Dick Fabian in the 1980's and to this day is promoted by Doug Fabian.


The original parameters were: buy when the Dow Jones Industrial Average (DJIA) crossed from below to above its simple 200 day moving average (SMA) and sell when it crossed from above to below its 200 day SMA.


As of Friday's close the DJIA was still above its 200 day SMA, however the S&P 500 (SPX) closed below its 200 day SMA for the first time since August 2006. The SPX implementation of the system is more widely followed so there may be a lot of selling on Monday.


Other than being very oversold there are no indications of a bottom."
 
That calls for a chart Edwood!
 

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Interesting that the commercials are so short on 10yrs....Its extreme juxtapositioning too between them and the funds....food for thought.

Cheers,
 

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Anyone watching Europe fall?

Cheers,
 
CanOz said:
hmmm, scalped a quick 20 points.....then watched it go another 30 before bottoming....gotta a bit a learning yet i reckon!

You for a gap up to the US open and fade down?
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200 pt gap down.
 
wayneL said:
200 pt gap down.
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The CASH mkt gaps down, but futures mkt for the spx should GAP up and then fade off...err maybe i should read Edwoods links again...

Spike up..not gap

Cheers,
 
Hmmm, spike down and fade up...me thinks the SPX will bounce off that 1480 - 85 ish area and continue down......i hope so, i'm going to bed with a short on the Aussie200, gotta be safe with this mess surely.

Cheers,
 
morning Can - I wasn't awake for this but thought I'd have a look at the S&P gap open for you. Have put a fib retrace on it as well - opening gap approx 31 pts which is a pretty big gap for S&P. we faded away from the open, & filled around 61% of the gap within an hour, so around 15pts available there allowing for spreads etc & general faffing about.

 
CanOz said:
...me thinks the SPX will bounce off that 1480 - 85 ish area and continue down......i hope so, i'm going to bed with a short on the Aussie200, gotta be safe with this mess surely.

Cheers,
Click to expand...

you were right there - it did bounce off that 80-85 area hope your Aussie short worked out well then
 
Edwood said:
you were right there - it did bounce off that 80-85 area hope your Aussie short worked out well then
Click to expand...

Wow, this has been a bloody nite.

My short should be safe for a while i think.....
 
CanOz said:
Wow, this has been a bloody nite.

My short should be safe for a while i think.....
Click to expand...

its certainly looking promising for shorts Can - if we can take out the recent lows we could well be into big wave 3 down which will be fast & long if it gets going - definitely don't want to be standing in the way of it. In Aus we've retraced around 50% of the drop from the high so that could do it for wave 2. Only fly is there was some major pumping going on in Europe o/night, around 100bn EUR which could hold things up for a bit

On the US side I got an EW count o.night for S&P from one of the major European banks suggesting S&P is heading into the mid 1,300's. If that happens we should expect to see several hundred pts come off Aus in the process - i.e., 5,400 if not lower
 
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