So this will lead to a "huge covering rally on Monday"? Does anyone else know? I will watch with great interest.
Who is ready for a rally?
- Thread starter agro
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So this will lead to a "huge covering rally on Monday"? Does anyone else know? I will watch with great interest.
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lol, that is skyquakes opinion. I wouldn't have the slightest clue. Hope his right though. He seems to have a knack for picking swing changes!
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Long or short, this volatility is not for the feint hearted - a wrong bet is very easy here...
No ****! I played around with Dow CFDs last night just for fun and played the ups and downs on very short term trades. Got sick of it though and left a short in at 8854 thinking that it would end down for sure, and being so confident I didn't post a stop
When I checked tonight, sure enough it closed at 8766 (PHEW)WAIT FOR IT THOUGH - when I checked the chart, the bloody thing had peaked at 9300!!!!!!!! then blasted its way back down a tidy 600 points. Mate I wish I'd stayed up to play all night.
Coin landed on heads. Twice. Need i say more?
Really need to know here. Were they consecutive throws?
Wysiwyg
Everyone wants money
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I find it difficult mid trend to get it right.Two open ends much harder than one open end.
Oh, and the `game` managed to take me out of play very accurately once again.
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No ****! I played around with Dow CFDs last night just for fun and played the ups and downs on very short term trades. Got sick of it though and left a short in at 8854 thinking that it would end down for sure, and being so confident I didn't post a stop
WAIT FOR IT THOUGH - when I checked the chart, the bloody thing had peaked at 9300!!!!!!!! then blasted its way back down a tidy 600 points. Mate I wish I'd stayed up to play all night.
Sounds like gambling. What were you going to do on the way to 9300, average down? Or keep your short bias and have stops hit on the way up there? Leaving the screen with no stop and letting it go 500 ticks offside is not excactly good trading.
tech/a
No Ordinary Duck
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Whats the margin on CFD index trades these days?
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IG Markets:
SPI - $5000 (used to be $1750 lol)
FTSE - $5000
S&P (big contract) - $20,500
Looks like a too many people had margin calls that worried the bucket shops
tech/a
No Ordinary Duck
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Interesting relative to the above 600 point swing.
YOu're probably right there MRC! No, if I'd stayed on, I would have closed out my short when it went through 8900 and opened a long. Having looked back over it, there were some clear trades all the way up to 9300, then once it turned, a clear short trade all the way down.
I totally agree that a 500 point run against me with no stop was pretty stupid, but I was basing my decision on where I thought the market was going to close, not where it was going in the mean time. With the DOW trading the way it has been, the intraday swings are simply crazy and make a mockery of any reasonable stops one might put in place.
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The way things are shaping up, a mass rally of unemployed stockbrokers outside the ASX might be on the cards soon enough...
The way things are shaping up, a mass rally of unemployed stockbrokers outside the ASX might be on the cards soon enough...
If they were any good, wouldn't they be rich, retiring, or trading at home?
Maybe they are like life reps, sorry, financial planners, do nothing.
Prospector
Not a scaredy cat anymore
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Unless they have plunged in with their own money the stockbrokers should be rich from all the commissions from sell trades
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Will we see a good rally this week?
Things are looking good at the moment;
Not even going to bother the with the B word as that burnt me a few weeks ago, but I'm pricing in for a nice rally
Things are looking good at the moment;
- Last Fridays positive close on the ASX was the first positive Friday all month, dito for the US market (has the confidence returned to hold over the weekend again?).
- Last friday was also the first friday all month that the ASX closed above 4000.
- The dow jones close on friday was was 1.55% compared to our .4%, and the US gained 11.3% last week and only gained 4%, we have a bit of catching up to do.
- A few positive days lined up together- more confidence.
- Interest rate decision on tues, and a probable Obama victory on tues.
Not even going to bother the with the B word as that burnt me a few weeks ago, but I'm pricing in for a nice rally
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The Wall Street Journal has published a couple of articles on U.S. mortgage work-outs. If they're successful, everyone should benefit, especially consumer and business confidence:
http://online.wsj.com/article/SB122549543952589677.html
http://online.wsj.com/article/SB122549543952589677.html
The fact that the banks are working with defaulting home owners on a voluntary basis (although they were probably leaned on a bit by the U.S. government) shows a determination to fix the problem. Maybe the recession will be a little bit milder than expected.
http://online.wsj.com/article/SB122549543952589677.html
http://online.wsj.com/article/SB122549543952589677.html
The fact that the banks are working with defaulting home owners on a voluntary basis (although they were probably leaned on a bit by the U.S. government) shows a determination to fix the problem. Maybe the recession will be a little bit milder than expected.
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Maybe.
That depends an awful lot on what the rest of the world decides to do. Near Total Globalisation and significant dependence by the US on the products, services and US debt buyouts by other nations means poor ol' Unca Sam can't now consider the health or otherwise of it's economy in isolation from the rest of the rabble. Well, it could TRY I suppose.
But at it's peril.
IMO
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The market is still extremely volatile but it is very noticeable that there are many more active company threads now than a month ago. For a while we were lucky to see more than a handful of companies discussed in any given day. Now there seems to be much more interest - even with a good deal of caution being expressed, the interest has to be healthy...
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lol me either
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