5% - 10% profit per day trading
- Thread starter spanish89
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technical analysis on the weekly and monthly chart..
We fallen very very far, very very fast, and now theres no 'shock factor' left to keep providing these big sell off moves anymore.
We are likely near the bottom anyways, could already be in, could a few 100point more down maybe till the ultimate bottom,
but we are down over 52% now,
And so a slong as you only buy, but time them right with extreme patience, it is extremely hard to lose money instead of making money from the dow now..
We fell nearly straight from 8200 t 6500 in about 4weeks, look at the chart and see what happend for the 2months after we fell form 106000 t 8000s...,
big bounces off over 1000points somedays, and lots of great sideways choppy mobvvement n swings for the follwng 2month.
http://www.msnbc.msn.com/id/12400801/
Investors gear up for the potential of more OPEC production cuts
1) Some analysts expect OPEC to announce a cut of at least 500,000 barrels a day, though the group's biggest producer, Saudi Arabia, hasn't yet commented on the possibility of further output reductions.
Ritterbusch said it's likely that Saudi Arabia will put more of an emphasis on compliance with previous production cuts rather than focusing on new reductions.
"I think that took a little steam out of the OPEC factor as a bullish influence," he said.
2) The rally surged even as the dollar rebounded against other major currencies. Investors are prone to buy commodities like oil and gold as a protection against inflation and dollar weakness.
"It might indicate to a lot of folks that watch it that if it wasn't for the dollar, we might already be knocking on the door of $50," Kloza said.
3) Phil Flynn, an analyst at Alaron Trading Corp., said the crude market is giving OPEC its due respect by pricing in another production cut.
"But after that we will still need to see demand kick in to a level that will start eating into supply," Flynn wrote in his morning energy report.
Investors gear up for the potential of more OPEC production cuts
1) Some analysts expect OPEC to announce a cut of at least 500,000 barrels a day, though the group's biggest producer, Saudi Arabia, hasn't yet commented on the possibility of further output reductions.
Ritterbusch said it's likely that Saudi Arabia will put more of an emphasis on compliance with previous production cuts rather than focusing on new reductions.
"I think that took a little steam out of the OPEC factor as a bullish influence," he said.
2) The rally surged even as the dollar rebounded against other major currencies. Investors are prone to buy commodities like oil and gold as a protection against inflation and dollar weakness.
"It might indicate to a lot of folks that watch it that if it wasn't for the dollar, we might already be knocking on the door of $50," Kloza said.
3) Phil Flynn, an analyst at Alaron Trading Corp., said the crude market is giving OPEC its due respect by pricing in another production cut.
"But after that we will still need to see demand kick in to a level that will start eating into supply," Flynn wrote in his morning energy report.
Aloha mate, sorry i misread your question.
I thought youwere asking if i was expecting a big upmove for a reason.
In relation to me execting a down move, i dont really expect anything big downwards for dow,
what i meant by big down move is about a 60-80points drop, so the low of a days range, and then i would like to buy there.
have a buy target of 6569
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