Gap

[saash]

John, what do you think?
I went into the trade on trigger and confirmation .... do you think this rally cancels the trade, or is this a nice opportunity to increase exposure?

[#2]

Maybe I am looking in the wrong direction but this double top forming intraday at 24110 odd could see a dip back down? The next 45 min will see if we break aboe the 24150 mark convincingly or not. Am I wrong to look at it this way?

[saash]

I don't see a intraday double top - where u looking?

[#4]

TOPI chart

http://moneyweb.profile.co.za/moneyweb/sharedata/data/indicators/graphs/Top40_iDayChart.png

First top at about 09h30 and now again around 11h30

[#5]

saash, where you looking at info?

[saash]

Oh ok - ja, kinda thought the same thing, clear reversal candle there. But I used it as an exit cos I saw the Dow still rallying.

[HateGauteng]

I got my exit (for those longs) set at 2460. Will try to figure things out after that.

[saash]

I went bank into my longs also. Will see, expecting resistance - but will be nice if we get more rally.

[HateGauteng]

Can always go long again if more upside expected. But I doubt it, we're trading in the shadow of that giant wannabe H&S (from 1999) on the dow and so I'm always wary about my longs.

[SimonPB]

wowser dude .. HS going back to 1999 .. no wonder you moved to PMB, for when the world ends ..

[john_1]

Hi Saash. Sorry I was out this morning.. the gap was closed quite early on I always believe that one must look to trade with overnight dirrection after gap close hope this helps

[HateGauteng]

Hey. Thats exactly why I moved back to PMB. . . I panicked first before the crowd and ran for the exits. Want to get fortified and settled in the midlands before this unfolds. Plenty of water, just need guns and ammo. Check the chart for yourself. Just go to the "DJ-Ind" chart on this site and click "all". Same pattern unfolded during the great depression and consequent WWII. There's no fundamentals that say the US is going to pull out of this one. US troops already occupy the Middle East and have China surrounded (i.e. Afganistan, S.Korea, Japan and wherever). You might find Gauteng swatting at your place in Dargle soon.

[saash]

Well that concludes it. We are definately in the "end of days" ... it's even reflected in out TA charts - but I don't see this as a substantial trading risk.

[HateGauteng]

Principles of TA: The market discounts everything; History repeats itself. The market reflects the collective intelligence of billions of people (HateGateng 2010) and this is evident in the TA.

[#15]

I am back again and see the dbl top did not form so up we go.

[SimonPB]

sure (well maybe, but lets agree to agree for whatever sake), issue is a decade long event shhouldn't cause minutte worry ??

[HateGauteng]

My concern is that the right shoulder peaked a week or two ago. This puts markets in a bit of a danger zone. The full formation of the right shoulder might take years (as in the case of the left shoulder) or could be happening as we speak.

[SimonPB]

so you'll spend how many years worryign about it ??? three words ==> trade the price <==

an for the hell of it; ''Richard Russell says: "if the 7,286 level recorded in 2002 is violated, I see the Dow declining to the 1,000 level."

[#19]

Well if it takes years to form you will be a) broke and not care or b) very wealthy and not care, trend is your friend, tarde it ;-)

[#20]

trend is your friend - except in the end - when it bends