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dont get sucked in....

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Not applicable
the downward trendline is still in tact on the 5 min from 2 days asgo...apart from the gap close (which we have already had) there is noting on the long side till this line is broken...dont get sucked in..
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21 REPLIES 21
Running_bull
Frequent Contributor
Chart, is there enough to go short then, or waiting for more direction? moving towards the daily -500pt again?
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_nova
Super Contributor
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_nova
Super Contributor
watch the DAX close it and then we continue down
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saash
Super Contributor
Is this the bottom of the bear yet? Where all real money is out of the market, and its mostly just weathered traders like you moving the market in all arb directions? Looking at the 10yr ALSI this looks to me like ambush on the 61 retracement. Looking at monthly bars, 5 consecutive months of down. This surely can't have more to go other than traders riding a short with no buyers to bail them out, seems like a risky ride even for you. c'mon, the RSA market hasn't lost 3 years worth of value - our companies are still posting results of year on year growth. This is starting to look like silly stuff.
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_nova
Super Contributor
saash? I have only one question for you (mebbe more): What do you reckon ASA will DIV next year? or ANG? or AGL or AMS or even a dog like DRD?...???
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Robbie
Regular Contributor
I sold almost 50% of my portfolio this morning - all @ heavy losses. I watch the DJIA very closely. I think it will test 8000 or near. If it does not close below 8000 by Friday next week, then I will look at buying again.
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Not applicable
7200 is the level on the Dow for me...
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_nova
Super Contributor
agreed, I'm looking at the same. DOW has to at least touch 7200 as that's about the only support left from the 911 and 2002 and 2003 lows? Except that 'recession' was in a market with a relatively strong economy no?
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_nova
Super Contributor
DAX closed and down we go
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venice
Super Contributor
We haven't been able to make a new high from this morning, kind of goes with what Nova is saying the bias has to be down esp if be break 18400ish. Any comments?
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G_V_V
Super Contributor
The blind leading the blind.
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Not applicable
Market getting to you ?? Go Long put it all in, we have hit bottom please go long
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Robbie
Regular Contributor
Please give me the names of the blind, so that I can watch out. You are obviously very smart. [PS please give some trading tips - thanks]
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venice
Super Contributor
Come now gvv put your money where your clever comment is and make a call or are you a 20/20 hindsight kind of trader.
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G_V_V
Super Contributor
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Not applicable
GVV you are the head of the stupid academy.
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G_V_V
Super Contributor
I was referring to the owner of this topic. If you want to trade find where the market should be and call it zero, when the market moves down buy your longs on each level and buy your shorts when the market moves above zero. When your position makes a profit sell. Don't be greedy and act on your levels not on rumors.
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Not applicable
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JohnnyCash
Super Contributor
How do you find where the market should be? How would you determine fair value? Do you base it on charts or company fundamentals or ratios? Im Interested.
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