DOW

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...

Here's today's chart:


Gap down, bounce of major support then gap up.

Again, the question is: is this a relief rally or a very fast trend reversal?

I'm inclined to think the former based on the pattern but these days, who knows?

There are a few resistance levels shown on the chart.

Some good posts and calls here today

Watch the last hour....imho...be interesting to see if this holds the gains was just a big p & d...

be back later...with some thoughts...

atb,
trendfriend

Next level I’m going to place a short at is 20500, and not earlier...
This level was resistance a few days ago and I expect that to be the same today...
I’m going to place my stop above 21000 as that’s where the lower high is...
The bulls will only have a chance if the Dow closes above 21000......

Kudos Remo. Brilliant one as usual.

I must concede, I'm only scalping here and there, can't open a long (or short for too long!) - This morning a took a few quid from Shell (and didn't mind that it charged forward as I got my fish n chip money!).

This tactic has worked well, the trouble is, it requires immense focus, and can't even leave the desk! I'm not suggesting that stops/limts aren't the way, but I think during these volatile times, the manual click of the mouse works best for me!

Also, noted a couple of things:

1. The spreads aren't tight - They say traders love to buy shirts... because they keep losing them!

2. for single point on the Dow, I'm staking over a grand.

This is a very risky business.

Be Safe and do what you keep on doing!