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     aussiebuggaa
Member
Username: aussiebuggaa
Post Number: 611
Registered: 07-2007Rating: N/A
Votes: 0
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| | Monday, March 17, 2008 - 10:59 pm: | 
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I have no idea about tomorrow and certain I don't look at next week when trading. I trade only price action and the patterns sets up on the NOW moment. But yes, you're right Moon, when the short covers there will be huge rally. Look at last Friday, everyone was Short all the way until lunch time, then Huge rally in the afternoon session, (have no idea what that was as I went to bed just before the pump).
The opening bell today, I can smell a sell off as Bear Stern and JP Morgan will rock the boat. However I will only go short if every body else are shorting – “every body else” I’m referring to big size traders.
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moonfleet101
Member
Username: moonfleet101
Post Number: 577
Registered: 07-2007
Rating: N/A
Votes: 0
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| | Monday, March 17, 2008 - 11:00 pm: |
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I've made 45 points today by going long Aussie. Waited for the first hour to finish, put some money on to bring my average down and then started scalping by going long. Up and down, up and down in the range it's at now. Same procedure every day but sometimes the big drops catch me out and that's why I've got some longs left over. Low leverage, big accounts and no stops. lol. I've finished now though because we'll follow the Dow futures from now on so I'll just wait until the Dow opens properly. lolol
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moonfleet101
Member
Username: moonfleet101
Post Number: 578
Registered: 07-2007
Rating: N/A
Votes: 0
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| | Monday, March 17, 2008 - 11:22 pm: |
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Like I said to Jax the other day, different way of doing things but as long as we all make money! I might make more points than you but there's no way I'd be putting that sort of money the way I do it now, so I'm probably making less money than you! That's what I was doing though, £20 ($50) a point but it was just too hit and miss for me with having to use stops. Sometimes I'd make a lot and sometimes I'd lose a lot with my stops constantly being hit.
I just couldn't understand how people on the boards over here were doing it and making money and then it suddenly hit me. lolol. That's why they have longs and shorts all over the place because the swings always take them into profit at some point (unless it's a trending day of course but that's where the averaging down or up comes into play - they all do it as well. lolol), I tend to just play long now, waiting for the big up day, that always happens somewhere along the line. Like I say though, low leverage and it gets you out of anything. lolol
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stocky
Member
Username: stocky
Post Number: 221
Registered: 10-2003Rating: N/A
Votes: 0
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| | Monday, March 17, 2008 - 11:52 pm: |
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UBS Drops Most in Nine Years on Report of Job Cuts
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moonfleet101
Member
Username: moonfleet101
Post Number: 579
Registered: 07-2007
Rating: N/A
Votes: 0
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| | Monday, March 17, 2008 - 11:56 pm: |
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Woah! Look at that FTSE drop!!! I'm not touching the Dow anymore. Just sticking with the FTSE. It's got less to fall until it hits 0. lololol. It's going to be a bloodbath today. I'm still waiting to go long though. lololol.
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moonfleet101
Member
Username: moonfleet101
Post Number: 580
Registered: 07-2007
Rating: N/A
Votes: 0
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| | Tuesday, March 18, 2008 - 12:08 am: |
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A friend of a friend of mine knows one of the tea ladies that works at Ben's residence. Apparently she was just outside his living room door, ready to bring him his cup of tea, when she heard him say to someone on the phone 'f*** it, I'm going to drop it by 2.5%'. Don't know how good the info is but may be worth a dabble. lololol
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riskpirate
Member
Username: riskpirate
Post Number: 683
Registered: 07-2007Rating: N/A
Votes: 0
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| | Tuesday, March 18, 2008 - 12:57 am: |
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MOON,expect a margin call today but the dow at present is down 129 points.
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moonfleet101
Member
Username: moonfleet101
Post Number: 581
Registered: 07-2007
Rating: N/A
Votes: 0
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| | Tuesday, March 18, 2008 - 01:02 am: |
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Sorry to hear that Risk. Can't you cash in some of your BHP profit to cover it, just to try and ride it out a little longer?
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riskpirate
Member
Username: riskpirate
Post Number: 684
Registered: 07-2007Rating: N/A
Votes: 0
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| | Tuesday, March 18, 2008 - 01:08 am: |
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MOON,the drops in the last week were more than expected and zfx has been a killer.Will only sell what I have to but not looking good.Thought I had a safe margin but this market could fall more. Need ben to drop the interest rate tonite.
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moonfleet101
Member
Username: moonfleet101
Post Number: 582
Registered: 07-2007
Rating: N/A
Votes: 0
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| | Tuesday, March 18, 2008 - 01:49 am: |
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If the Dow can just get to 12000, today, we have a chance of it keeping green today. It's closed the gap and is hanging in there. We just need to put a bit more doubt in the shorters minds for them to start closing. A few big buys and that should be enough to get us through to tomorrow and then all hell will break loose. lolol
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stocky
Member
Username: stocky
Post Number: 222
Registered: 10-2003Rating: N/A
Votes: 0
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| | Tuesday, March 18, 2008 - 02:00 am: |
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i think it was last friday night that once it broke 12,000 there was loads of covering. think it moved over 150pts.
interesting..
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chingas
Member
Username: chingas
Post Number: 686
Registered: 06-2007
Rating: N/A
Votes: 0
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| | Tuesday, March 18, 2008 - 02:09 am: |
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Well i am amazed at the market tonight, expected to see blood but dow only 0.1% down, can't believe my eyes. Lets hope this continues for a few days.
Risk - I feel for you mate, i hope you can survive but this could fall a long way yet. I wonder whether any other banks will get taken down by all of this, that will really have it hit the fan.
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moonfleet101
Member
Username: moonfleet101
Post Number: 583
Registered: 07-2007
Rating: N/A
Votes: 0
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| | Tuesday, March 18, 2008 - 03:00 am: |
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It's picking up speed now. Sellers are taking over but I bet there's a lot of covering later on thhough. There'll be a couple of days to get out from tomorrow and that's it!
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jax
Member
Username: jax
Post Number: 1640
Registered: 07-2007Rating: N/A
Votes: 0
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| | Tuesday, March 18, 2008 - 06:49 am: |
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lol i had a great night sleep then got out of bed to see you blokes worried all night , i told you guys yesterday go to bed forget the futurs andwake up to green now how easy is that lol.like i said just dont short .
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