DOW

remo wrote:

I don’t use IG for share dealing, I only really use it for indexes.....But nothing wrong with using like a share dealing account...as it’s tax free...but remember it’s only for short term as it’s spread betting end of the day..
2,,,,yes I use them ......I look after my wife’s SIPP ..,,,,I use Hargreaves Lansdown .....They are great for funds...
I’ve closed all her positions just before the crash....lol....and have been buying some shares back into it...

Much obliged Remo.

(IG now offer actual sharedealing and SIPP accounts too, so will investigate - but will check out HL for sure!)

Now, back to the Dow - one word: insane. I've gone short with the FTSE, but not at the best place (used 5/15 to look for entry - but it is looking choppy!)

Libero wrote:

remo wrote: im back on the sidelines (with shorts)as this rally is kinda mad....
its going to be short lived but you have to be careful when it goes mad like this...
But i have actually bought some shares for the long term again...around 40% invested...The other 60% will be invested once the markets gets hammered again...

Hey Remo,

I've been thinking about allocating cash to shares, and did miss some "near term bottoms" (might be the actual bottoms to some equities, but that's cool). The questions I have, to yourself and the board (and forgive me for using the Dow forum!) are:

1. Are you guys using IG share-dealing (not many reviews, but I figured it's a good platform, consolidated etc...)

2. SIPPs - do you guys like them? (again, perhaps on reflection these questions should left to another forum - i'll get to work on that!)

On the Dow, the violent moves continue - you know, after yesterday's rally, you knew more money will follow in today, because of the headlines - it's a headline grabber - the biggest rally since 1933 etc... This will attract money, and market-maker mark ups.

I'm still skeptical. What I would say, is that while this "bear-market" may last a good few months, given the steepest drops we've seen, it's likely that some bottom (don't know whose!) were reached. I honestly don't know anymore. All's I know, is that I've been scalping scraps - and I like it!

I don’t use IG for share dealing, I only really use it for indexes.....But nothing wrong with using like a share dealing account...as it’s tax free...but remember it’s only for short term as it’s spread betting end of the day..
2,,,,yes I use them ......I look after my wife’s SIPP ..,,,,I use Hargreaves Lansdown .....They are great for funds...
I’ve closed all her positions just before the crash....lol....and have been buying some shares back into it...

Went short near the resistance , played out well for the time being but this market is crazy ..

remo wrote: im back on the sidelines (with shorts)as this rally is kinda mad....
its going to be short lived but you have to be careful when it goes mad like this...
But i have actually bought some shares for the long term again...around 40% invested...The other 60% will be invested once the markets gets hammered again...

Hey Remo,

I've been thinking about allocating cash to shares, and did miss some "near term bottoms" (might be the actual bottoms to some equities, but that's cool). The questions I have, to yourself and the board (and forgive me for using the Dow forum!) are:

1. Are you guys using IG share-dealing (not many reviews, but I figured it's a good platform, consolidated etc...)

2. SIPPs - do you guys like them? (again, perhaps on reflection these questions should left to another forum - i'll get to work on that!)

On the Dow, the violent moves continue - you know, after yesterday's rally, you knew more money will follow in today, because of the headlines - it's a headline grabber - the biggest rally since 1933 etc... This will attract money, and market-maker mark ups.

I'm still skeptical. What I would say, is that while this "bear-market" may last a good few months, given the steepest drops we've seen, it's likely that some bottom (don't know whose!) were reached. I honestly don't know anymore. All's I know, is that I've been scalping scraps - and I like it!

if you look at the dow chart on the hourly it looks like we are having a cup and handle breakout...Which is bullish.. The target is 3000 points higher to 24000....I know its kinda mad...


the problem we have is,
This aint normal times
Countries pumping serious money into the markets.
Corona virus has just started and America will be the worse hit out of all the countries.

To me this looks like a classic bear trap but how high it will go before the turn is the million dollar question...I would look at fibs to get a good idea of the strong resistance areas..
I would say the 38.2% is the best area to short this rally..which is around 22570 ish


but markets can turn really quickly so bear that in mind..


Me personally will be trading a lot lower if i see some thing like a shooting star near a resistance...currently one is forming on the hourly chart right at resistance...But this is based on ig charts so will only be a small bet..

im back on the sidelines (with shorts)as this rally is kinda mad....
its going to be short lived but you have to be careful when it goes mad like this...
But i have actually bought some shares for the long term again...around 40% invested...The other 60% will be invested once the markets gets hammered again...