DOW

As expected, the downtrend breakout came:


We must remember that really fast moves have no stability so counter moves will usually also be fast/strong.

Will be interesting to see what happens around the 25240 61.8% Fib level. Like FTSE, there's also a gap near this Fib.

Great Post (as usual Remo).

The markets are all about pain - and I gotta say (like yourself and any other trader), I've taken some pain. I had to!

Anyway, risky trade - but the lines are holding well (range bound) for quick scalps on the five mins.

I'm probably going to save the "proper" shorts for the FTSE and SPX, but will scalp the Dow every now and then (looking after the pennies).

There has been a 123 low on the Dow daily...
I’m currently long but it’s only for the short term as remember, bear markets last around 6-9 months minimum...and it’s no way over just yet....there is way to many bad news out there and America is in a bad place currently and very likely to fall once they realise how bad they are ...
Even if we have seen the worst of the virus in Europe it’s done the damage to the world economy so the effects will only be seen in the next few quarters so very doubtful that we have bottom just yet...
I’m currently long and will go short at the fibs...

Paitech it certainly seems like that way with some certain to bounce but stocks pulling away from the lows..
I too have been waiting for the Dow to touch circa 18000 before I dive in..

It may not happen?

However I think from an economic point of view the sh1t has yet to hit the fan..it may we’ll be another 4 to 8 weeks before lock downs are removed or loosened, and add it second wave of viruses, you looking at a fair bit of destruction, job losses around the world..

The 20% bounce in prices may we’ll still come down, at least I think and hope so..

Anybody else think Covid-19 was man made, an accident gone terribly wrong?

Stay safe,

According to me, the fear is getting lesser....and as I said before, most hit the lows ....
Missed BP in 220s,GEN,GKP all flying
I think banking share may give another closer to low chances....
Really short on funds and feeling gutted for lack of funding

I don’t know what will happen, what I do know, is today I have funds for shares, and they have gone sky high.

I was after some gems. (I did buy some long term shares, we call them that, after you buy them and they go down!!)

Sitting on my hands.

I hope Remo is right, otherwise