Very bullish

drukes1234 · Jul 7, 2005

I'm very bullish this market right now based on the technicals. I have put on a size-able position (size-able relative to my small acct) in the dow futures and will hold for a swing.

Best of luck to all

silk · Jul 7, 2005

what techincals might those be. The market has been straight sideways for 7 weeks. It goes up, then down, then up again, only to go down again. Before you know it, its gone nowhere.

drukes1234 · Jul 7, 2005

Like I said.. it's a swing trade.. and if you bought the Nasdaq for a swing trade at the beginning of May you would be up a quite a bit--it's all about timing.

snooptrader · Jul 7, 2005

Quote from drukes1234:

Like I said.. it's a swing trade.. and if you bought the Nasdaq for a swing trade at the beginning of May you would be up a quite a bit--it's all about timing.

You also said "based on the technicals". Silk asked what technicals.

So, what technicals?

brokerboy · Jul 7, 2005

You never said it was a swing trade on the first post. You said a technical trade. If you would have bought end of first quarter of 03 what a swing trade that would be. Itâs all about timing. I am just having fun with good luck with it.

drukes1234 · Jul 7, 2005

Re-read my original post.

"will hold for a swing." therefore I am holding for a swing.

risktaker · Jul 7, 2005

Buy the DIP?
Hey, that's technical enough!

I have no positions, so don't really care.

A down move would have to start by Tuesday. An up move may have begun, so who knows?

Quote from snooptrader:

You also said "based on the technicals". Silk asked what technicals.

So, what technicals?

dimension · Jul 7, 2005

"...In sum, I don't doubt that we can see a short-term snapback from a big down opening, but the indicators do not support a major buying opportunity at this juncture..."

http://www.futuresasia.com/html/modules.php?op=modload&name=News&file=article&sid=777

hajimow · Jul 7, 2005

To drukes1234:
FYI: I should say that I have predicted 2005 flat 5 months ago and so far I am right.
Your idea has a big flaw: You say you are extremely bullish and then when someone tells you that market has been going sideways in the last 7 weeks , you come back and say yes you are a swing trader and you will do hit and run. The last part is from me. That does not prove that you are bullish. A bullish person buys now and does not sell for untilthe market changes the direction. If you are a swing trader, it shows that in a week you will be bearish and sell your holdings.
I also predict tomorrow Friday July 8th, market will be down.That is what it did not happen on Thursday. On weekend, people like to put their money in their pillow specially this weekend.

SethArb · Jul 7, 2005

do your technicals backtest favorably post

the unemployment number tomm?

good luck to you at 8:30 am EST friday

no position ...