DOW

Trendfriend wrote: dow - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...YFu6p0KybwR0rnSIK9U=

more than a couple of hundred pips down now
i'm only risking what i made....still holding here...i can stay short until 27350 area....

not ideal...but i think its time for a drop...however small imho...
the rsi is now over 70...whenever that happens we get a p/b....

will the drop happen soon??

atb
trendfriend

I think, as Remo shown us, that we need have ultra-wide stops nowadays. I had a position that was underwater by over a grand for a couple of days, before returning me with a couple of hundred quid profit in the overnight sessions - it's not good - it's not good for the health!

i'll never do that again, so i thought, but we feel like we have to chase sometimes, knowing that the weakening of the dollar (boosting stocks) will result in exported inflation here in the UK and elsewhere too.

With regards to your short position - I have 27400 as the line in the sand after 27140 got taken out.

The market is over extended I feel, but hey we need our resident experts to give us their take.

dow - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...YFu6p0KybwR0rnSIK9U=

more than a couple of hundred pips down now
i'm only risking what i made....still holding here...i can stay short until 27350 area....

not ideal...but i think its time for a drop...however small imho...
the rsi is now over 70...whenever that happens we get a p/b....

will the drop happen soon??

atb
trendfriend

Trendfriend wrote: the US markets are behaving like their President!
its all extremes...on the way down and on the way up.....

this is absolutely a bubble....matter of time before it pops....but it could last a while now....6 months? 12 months? who knows?
not me for sure!

anyway...had a long scalp...but short now at 26966.1

wish me luck....was 40 or so points down a min ago...

atb,
trendfriend

Make Hay TF!

Dow support at 26960 right now - its a crude line, but there or thereabout.

in terms of resistance, i got 27140

the US markets are behaving like their President!
its all extremes...on the way down and on the way up.....

this is absolutely a bubble....matter of time before it pops....but it could last a while now....6 months? 12 months? who knows?
not me for sure!

anyway...had a long scalp...but short now at 26966.1

wish me luck....was 40 or so points down a min ago...

atb,
trendfriend

DOW FUTURES 27044 +762

Looks like 27000 going to be hit today once the US open, incredible.

At this rate, we will be around 29500 sooner than later.

AdeMcG wrote: or, the explanation is of workers coming off the welfare system and going back on to the job protection scheme as employers try to re-open, but here is the catch. To ensure the companies get to keep their bail out money, they have to keep folk employed for only 8 weeks.

Could be just kicking the pain down the road and come 8 weeks later, expect the numbers of jobless claims to once again jump upward.

Yep,

just for traders to try and stay solvent until then!

The market is on a tear!