DOW

Went short near the resistance , played out well for the time being but this market is crazy ..

remo wrote: im back on the sidelines (with shorts)as this rally is kinda mad....
its going to be short lived but you have to be careful when it goes mad like this...
But i have actually bought some shares for the long term again...around 40% invested...The other 60% will be invested once the markets gets hammered again...

Hey Remo,

I've been thinking about allocating cash to shares, and did miss some "near term bottoms" (might be the actual bottoms to some equities, but that's cool). The questions I have, to yourself and the board (and forgive me for using the Dow forum!) are:

1. Are you guys using IG share-dealing (not many reviews, but I figured it's a good platform, consolidated etc...)

2. SIPPs - do you guys like them? (again, perhaps on reflection these questions should left to another forum - i'll get to work on that!)

On the Dow, the violent moves continue - you know, after yesterday's rally, you knew more money will follow in today, because of the headlines - it's a headline grabber - the biggest rally since 1933 etc... This will attract money, and market-maker mark ups.

I'm still skeptical. What I would say, is that while this "bear-market" may last a good few months, given the steepest drops we've seen, it's likely that some bottom (don't know whose!) were reached. I honestly don't know anymore. All's I know, is that I've been scalping scraps - and I like it!

if you look at the dow chart on the hourly it looks like we are having a cup and handle breakout...Which is bullish.. The target is 3000 points higher to 24000....I know its kinda mad...


the problem we have is,
This aint normal times
Countries pumping serious money into the markets.
Corona virus has just started and America will be the worse hit out of all the countries.

To me this looks like a classic bear trap but how high it will go before the turn is the million dollar question...I would look at fibs to get a good idea of the strong resistance areas..
I would say the 38.2% is the best area to short this rally..which is around 22570 ish


but markets can turn really quickly so bear that in mind..


Me personally will be trading a lot lower if i see some thing like a shooting star near a resistance...currently one is forming on the hourly chart right at resistance...But this is based on ig charts so will only be a small bet..

im back on the sidelines (with shorts)as this rally is kinda mad....
its going to be short lived but you have to be careful when it goes mad like this...
But i have actually bought some shares for the long term again...around 40% invested...The other 60% will be invested once the markets gets hammered again...

From bbc news today....
Donald Trump is doubling down on previous comments that the US should immediately reopen the economy, bucking advice of health experts. “You can destroy a country this way by shutting it down,” he said on Tuesday.

“You’re going to lose more people by putting the country in a massive recession” or depression. “I would love to have the country opened up and just rearing to go by Easter.”

Just seems really desperate to me...
He can try to pump up the markets with trillions....but you cannot solve a Pandemic without closing up cities.....
Still think with Trump in the hot seat....and a real crisis to deal with here, he's just going to make a bad situation into a complete disaster imho...

Today looked like a good day for the big boys to close and bank shorts....so a short squeeze...but with this whole issue still very much to play out.....they will be back before we know it to put the boot in again...

atb, wdik, dyor,
trendfriend

Gone short again from 21000,
Added to a few small shorts I had from lower level...
Only small bets so had stops wide...
Come morning time may get bailed out..lol...