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23rd January 2018
Quote from
Nick on 23rd January 2018, 8:55 am
Todays discussion
Todays discussion
Quote from
Cowboy on 23rd January 2018, 11:27 am
Typical. Took profits last night and markets continued to rage on in second half of Asia.
Left now with the dilemma. How and where to get back in. Will the US close the potentially big gap after the open creating an entry? I'm still open to the idea that it has more to run as plenty of earnings to come in yet, and they're doing well. Wouldn't be surprised though if there's a very long stagnation after this, or sizeable retracement. Lots of good news will have been accounted for by the end of earnings, and it's a long 2 1/2 months til the next set. Potential infrastructure bill the next target?
Typical. Took profits last night and markets continued to rage on in second half of Asia.
Left now with the dilemma. How and where to get back in. Will the US close the potentially big gap after the open creating an entry? I'm still open to the idea that it has more to run as plenty of earnings to come in yet, and they're doing well. Wouldn't be surprised though if there's a very long stagnation after this, or sizeable retracement. Lots of good news will have been accounted for by the end of earnings, and it's a long 2 1/2 months til the next set. Potential infrastructure bill the next target?
Quote from
Nick on 23rd January 2018, 11:59 am
Bulls still can't break that 7740 with any conviction
Bulls still can't break that 7740 with any conviction
Quote from
Mcgcapital on 23rd January 2018, 12:16 pm
Still looks bearish to me overall and seeing break lower through 7690 before 7760. However, have to keep looking to cover shorts in the 7700-10 area if the candlesticks start pointing up but with tight stops, that’s been worth a fair few points last few days but don’t think it holds much longer. Key is the US as they need to sell off too or we won’t break 7690. If it was bullish though we wouldn’t usually get an open like we had today with the sharp sell off.
Still looks bearish to me overall and seeing break lower through 7690 before 7760. However, have to keep looking to cover shorts in the 7700-10 area if the candlesticks start pointing up but with tight stops, that’s been worth a fair few points last few days but don’t think it holds much longer. Key is the US as they need to sell off too or we won’t break 7690. If it was bullish though we wouldn’t usually get an open like we had today with the sharp sell off.
Quote from
Mcgcapital on 23rd January 2018, 12:24 pm
Quote from
Cowboy on 23rd January 2018, 11:27 am
Typical. Took profits last night and markets continued to rage on in second half of Asia.
Left now with the dilemma. How and where to get back in. Will the US close the potentially big gap after the open creating an entry? I'm still open to the idea that it has more to run as plenty of earnings to come in yet, and they're doing well. Wouldn't be surprised though if there's a very long stagnation after this, or sizeable retracement. Lots of good news will have been accounted for by the end of earnings, and it's a long 2 1/2 months til the next set. Potential infrastructure bill the next target?
Interested on what your strategy is with the US indices. I look at them and they genuinely scare me. Usually when we hit a top there is quite a bit of warning with retests and stuff so that gives time to get out of longs. But the gradient of this move is parabolic.. looks more like bitcoin last month than what we’re used to seeing with the stock market. I feel like a reversal on it could be quite sharp and out of the blue which puts me off buying. But it goes up every day so can’t sell it either. I look at it and think if FTSE ever ends up like the Dow I’d have to quit trading!
And you sum up how I feel about it.. if you’re out where do you get in when it’s usually higher than where you were when you got out. Very difficult to outperform buy and hold when there are no dips. Trading ranges offer way better returns IMHO
Quote from
Cowboy on 23rd January 2018, 11:27 am
Typical. Took profits last night and markets continued to rage on in second half of Asia.
Left now with the dilemma. How and where to get back in. Will the US close the potentially big gap after the open creating an entry? I'm still open to the idea that it has more to run as plenty of earnings to come in yet, and they're doing well. Wouldn't be surprised though if there's a very long stagnation after this, or sizeable retracement. Lots of good news will have been accounted for by the end of earnings, and it's a long 2 1/2 months til the next set. Potential infrastructure bill the next target?
Interested on what your strategy is with the US indices. I look at them and they genuinely scare me. Usually when we hit a top there is quite a bit of warning with retests and stuff so that gives time to get out of longs. But the gradient of this move is parabolic.. looks more like bitcoin last month than what we’re used to seeing with the stock market. I feel like a reversal on it could be quite sharp and out of the blue which puts me off buying. But it goes up every day so can’t sell it either. I look at it and think if FTSE ever ends up like the Dow I’d have to quit trading!
And you sum up how I feel about it.. if you’re out where do you get in when it’s usually higher than where you were when you got out. Very difficult to outperform buy and hold when there are no dips. Trading ranges offer way better returns IMHO
Quote from
Nick on 23rd January 2018, 12:40 pm
Tsunami alert for US west coast after 8.2-magnitude earthquake off Alaska
Tsunami alert for US west coast after 8.2-magnitude earthquake off Alaska
Quote from
Cowboy on 23rd January 2018, 1:02 pm
Quote from
Mcgcapital on 23rd January 2018, 12:24 pm
Quote from
Cowboy on 23rd January 2018, 11:27 am
Typical. Took profits last night and markets continued to rage on in second half of Asia.
Left now with the dilemma. How and where to get back in. Will the US close the potentially big gap after the open creating an entry? I'm still open to the idea that it has more to run as plenty of earnings to come in yet, and they're doing well. Wouldn't be surprised though if there's a very long stagnation after this, or sizeable retracement. Lots of good news will have been accounted for by the end of earnings, and it's a long 2 1/2 months til the next set. Potential infrastructure bill the next target?
Interested on what your strategy is with the US indices. I look at them and they genuinely scare me. Usually when we hit a top there is quite a bit of warning with retests and stuff so that gives time to get out of longs. But the gradient of this move is parabolic.. looks more like bitcoin last month than what we’re used to seeing with the stock market. I feel like a reversal on it could be quite sharp and out of the blue which puts me off buying. But it goes up every day so can’t sell it either. I look at it and think if FTSE ever ends up like the Dow I’d have to quit trading!
And you sum up how I feel about it.. if you’re out where do you get in when it’s usually higher than where you were when you got out. Very difficult to outperform buy and hold when there are no dips. Trading ranges offer way better returns IMHO
Tough one. What's my strategy? :0)
Dow has been the cash king for a year now. It just keeps giving. But really hard to get back in. It does much more of a sideways consolidation, pennants and flags than retracement. So half time i pull stops up to below the consolidation, and then let it run off again if I've the guts. At times I bottle out and manually close, and it's usually the wrong thing to do. And occasionally I havent been sharp enough at moving stops up and have had half the profit of a move wiped out. Lots and lots of mistakes. Could always do it a lot better. And would help if I could watch it more closely too, but I've got a business to run.
As for ranging being easier, I wont argue with that. But with a dollop of leverage, the trending market still does well. It would be even better if you've the guts to hold it. Could have brought early retirement forward if I'd held the Dow for the last 12 months. ;0)
Quote from
Mcgcapital on 23rd January 2018, 12:24 pm
Quote from
Cowboy on 23rd January 2018, 11:27 am
Typical. Took profits last night and markets continued to rage on in second half of Asia.
Left now with the dilemma. How and where to get back in. Will the US close the potentially big gap after the open creating an entry? I'm still open to the idea that it has more to run as plenty of earnings to come in yet, and they're doing well. Wouldn't be surprised though if there's a very long stagnation after this, or sizeable retracement. Lots of good news will have been accounted for by the end of earnings, and it's a long 2 1/2 months til the next set. Potential infrastructure bill the next target?
Interested on what your strategy is with the US indices. I look at them and they genuinely scare me. Usually when we hit a top there is quite a bit of warning with retests and stuff so that gives time to get out of longs. But the gradient of this move is parabolic.. looks more like bitcoin last month than what we’re used to seeing with the stock market. I feel like a reversal on it could be quite sharp and out of the blue which puts me off buying. But it goes up every day so can’t sell it either. I look at it and think if FTSE ever ends up like the Dow I’d have to quit trading!
And you sum up how I feel about it.. if you’re out where do you get in when it’s usually higher than where you were when you got out. Very difficult to outperform buy and hold when there are no dips. Trading ranges offer way better returns IMHO
Tough one. What's my strategy? :0)
Dow has been the cash king for a year now. It just keeps giving. But really hard to get back in. It does much more of a sideways consolidation, pennants and flags than retracement. So half time i pull stops up to below the consolidation, and then let it run off again if I've the guts. At times I bottle out and manually close, and it's usually the wrong thing to do. And occasionally I havent been sharp enough at moving stops up and have had half the profit of a move wiped out. Lots and lots of mistakes. Could always do it a lot better. And would help if I could watch it more closely too, but I've got a business to run.
As for ranging being easier, I wont argue with that. But with a dollop of leverage, the trending market still does well. It would be even better if you've the guts to hold it. Could have brought early retirement forward if I'd held the Dow for the last 12 months. ;0)
