International Index Trading

[wayneL]

These muppets would buy anything.

Shorts still need to be on their toes

 

[CanOz]

These muppets would buy anything.

Shorts still need to be on their toes

LOL! So true, too much money.

Everything is hanging around support like a bad smell, i'm not gonna short anything without some decent confirmation....bedtime i think...oppotunity on the other indices tomorrow.

Cheers,

 

[wayneL]

A good exit for shorts at higher lower @ S2. IMO

 

[wayneL]

A good exit for shorts at higher lower @ S2. IMO

Turning out to be an excellent long entry too.

I'm beginning to think if NY was nuked it would be bullish

 

[Edwood]

so buy the dips is still the only strategy in town then... oh well at least we don't have to think too much

 

[Edwood]

UK spreadbet co's have the US (i.e., Dow) making new highs pre-open, currently 12,985 offered. Lots of economonical data out today, for anyone interested in being awake for it, should get some movement. (I'll be making zzzz's)

25/04/2007 13:30 USD Core Durable Goods Orders m/m 1.1% -1.0%
25/04/2007 13:30 USD Durable Goods Orders m/m 2.6% 1.7%
25/04/2007 15:00 USD Fed Chairman Bernanke Speaks
25/04/2007 15:00 USD New Home Sales 0.89M 0.85M
25/04/2007 15:30 USD Crude Oil Inventories -1.0M
25/04/2007 17:30 USD Fed Governor Mishkin Speaks
25/04/2007 19:00 USD Beige Book

 

[wayneL]

Once again the gap up makes shorts a better risk/reward proposition than longs and the headfake at 3day R1 was a nice short signal. Chart later.

 

[wayneL]

The state of play at 10:15 NYT

 

[Edwood]

aww lovely! well thats 13k done, apparently the Fed usually has a lot of funding to deal with for the next couple of weeks so will be tightening money supply. some Elliott practitioners on a UK site I follow think up to 13,150-ish max but that we're in the zone to complete the move (edit - Dow obviously, I should say I guess given that this is an indices thread)

 

[wayneL]

aww lovely! well thats 13k done, apparently the Fed usually has a lot of funding to deal with for the next couple of weeks so will be tightening money supply. some Elliott practitioners on a UK site I follow think up to 13,150-ish max but that we're in the zone to complete the move (edit - Dow obviously, I should say I guess given that this is an indices thread)

I have a similar top for the short term, and a provisional top of around 13300 until the end of June... that is unless the bulls really get hold of this.

Quite frankly, the bulls have their tail in the air so could go 13750, who knows.

Interesting your comments about tightening money supply, will keep an eye on that.

 

[bean]

DOW yes it is in a blow off top, sites I visit over the last month or so have been predicting this move. 2550 on the Nasdaq puts it back into Bubble territory so to speake. The DOW will make its final top early next week then a pullback of say few hundred points (200-500) then a push and fail.
Everthying will fall to begin with. I am a GOLD bull and Gold and there share will fall. However Gold and there shares will be the best performers for the rest of the year

 

[Edwood]

morning Mr Bean - yes fun times are coming

Dax and the SMI (Switzerland) looking like good shorts soon-ish, for the European element. but the risk as Wayne says is that it could shoot

some bad news coming out of Spain re: their property bubble...

"Spain could now find itself facing a monetary squeeze just as the economy swings from boom to bust, more or less the fate suffered by Britain in the ERM debacle of 1992, except that Spain has no way out.

Bernard Connolly, global strategist for Banque AIG and former head of economic research for the European Commission, said the country will face a brutal adjustment over the next two years - if it can remain in the euro at all.

He said: "Spain is going to face the very direst of economic circumstances: a cycle of recession, deflation and widespread private sector default - a depression in fact. This stock market slide is not just a 'correction'. It has a very, very, long way to go.""

 

[wayneL]

It took the combined efforts of R3 and 3DR2 to halt this freight train...

...or did they just run out of time

 

[Edwood]

from the Wall St Examiner today.

"In actions that are unprecedented, at least since the days immediately following 9/11/01, the Fed added a net of $16.5 billion to the market, and scheduled another $18 billion to be injected on Monday"

 

[CanOz]

from the Wall St Examiner today.

"In actions that are unprecedented, at least since the days immediately following 9/11/01, the Fed added a net of $16.5 billion to the market, and scheduled another $18 billion to be injected on Monday"

Hi, Edwood, you have some more of that article? So its the PPT?

Cheers,

 

[Edwood]

Morning CanAusUK - I should have a full copy later, thats the headline from the Examiner website. seems they want to keep it running higher....

 

[Edwood]

here's a bit more on the Spanish property thing. There are a lot of Brit investors with multiple properties in Spain.

http://news.bbc.co.uk/2/hi/business/6592203.stm

what do they say again? bull markets like to climb a wall of worry...

 

[Pager]

I started a Simple futures system on Reef Cap, the exact same set-up rules apply for 3 Index futures markets, i update how the system is going at the end of each week, maybe of intrest to anyone wanting to trade Index futures or Mechanical trading.

Here is a link

http://lightning.he.net/cgi-bin/suid/~reefcap/ultimatebb.cgi?ubb=get_topic;f=15;t=000286

Cheers

Pager

 

[Edwood]

intresting - how does it work Pager?

Aus working itself into a bit of a congestion here, should be a decent break out of it soon enough (sorry can't be more specific )

don't touch it till it moves is usually the best approach...

 

[Pager]

It’s a very very simple set up Edwood, then uses a very tight stop, runs about 38% profitable across the 3 markets I trade it on Spi, Nikkei and Hang Seng.

Has only 3 parts to the set-up, 2 pattern based and 1 technical, returns based on 1 contact and starting with $25K each year average over 40% for the past 12 years for which I have data that’s including costs and slippage.

Draw downs are low and it averages about 3 trades a month on each market.

Posted about it just to show simple works combined with discipline in taking every trade and risk as in only risking a few hundred dollars on each trade but returns are sometimes 10 times the risk, also wanted to highlight you can be wrong most of the time and get stopped out but at the end of the day it doesn’t matter as losses are always small, slippage permitting which on the Hang Seng can be nasty on occasion, wins are not capped aside from exiting when the exchange closes.