Archive for the DOW Category

50 points on the DOW

50 points on the DOW

Well I took 50 points off the DOW today. I think it has much further to go and it already has moved 30 points beyond where I took profits but hey ho! There was some support at 14900 and you tend to get some support at these numbers so I figure it would be good to take some profit. Looking at this daily chart though, it does look like it has further to go down. Still, I also put on a binary bet that the DOW would go down today. Unless the market can get above 14975, I should have a nice

July 2, 2013 No Comments Full Story

Gone Short on the DOW

Gone Short on the DOW

Ok I've gone short on the DOW. I'm seeing a dowtrend in the daily charts.. it's a series of lower lows and lower highs. I believe that the market has just completely it's retrace from the downtrend and now going to make it's way down. The blue line shows that there has been a resistance where price was contained, this is around 15080. I'm hoping price will head lower to 14650 or so where my target is.

July 1, 2013 No Comments Full Story

The Dow countertrend play

The Dow countertrend play

I played the Dow countertrend yesterday, the Dow had fallen heavily and I took this to be the start of the downtrend after weeks of bullish movement. I was expected to see a pullback from the bullish movement of the DOW and this was my signal for it. After the huge move down, there was an initial move up and this was what I took to be the pullback before lower prices. Unfortunately, I was wrong this time.. the DOW powered ahead.. it's shot up around 200 points and have broken the previous high!

February 27, 2013 No Comments Full Story

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