head & shoulder on the daily--DOW

NY_HOOD · Dec 9, 2008

I am short. have a stop T 8867 on the dow. if the dow breaks that,i cover my shorts.

NY_HOOD · Dec 9, 2008

covered my short by selling MZZ at 90.17. was in at 88.04. made 2 points.

NY_HOOD · Dec 9, 2008

i covered too early but then again i did the right thing;i took 2 quick points based on the chart. the neckline to the head and i measured the break of the neckline. text book!!!

MrDODGE · Dec 9, 2008

Bulls are really fighting to hold the bottom for the day at around 8,663 on the YM. So far they are succeeding.

MrDODGE · Dec 9, 2008

This decline is closing the opening gap up yesterday. Tomorrow should be another strong rally. I think tomorrow we will close above 9,000.

NY_HOOD · Dec 9, 2008

we may but lets take this one day at a time.

neutrino · Dec 9, 2008

I wonder if the divergence between the indexes mean anything... the NASDAQ being the strongest and the Dow - the weakest for the day.

NY_HOOD · Dec 9, 2008

i would'nt read too much into the divergence thing. the naz qas stronger because shorts covered the semi's on the downside guidence for whatever reason. it was all semi's today.

neutrino · Dec 9, 2008

I see, that makes sense.