Home > General Topics > Trading > DOW 25K Today?

DOW 25K Today?

  1. Last day of the year.
    Only need 163 points.
     
  2. According to the Magic 8-Ball, the answer is "no".
     
  3. It may potentially be close...but I think no cigar.

    That's kind of asking alot for it, specially when you consider the past monthly and weekly chart.
    But Europe and Asia averaged up today, with no economic reports to positively (or negatively) sway the US.
    Premarket is indicating it's already potentially overbought at the open.

    As always, have initial directional or semi-directional conviction -- But remain open-minded and patient and malleable still.

    ...it's Part Art, Part Science, :confused: -- you have to constantly consider alot of dynamic variables at any moment in time within the micro and macro scale of the chart. the collective picture and Miss Bitchy Market's mood.

    Make Trading Great Again 2018...High-Five`...d08 and Xela and Johnny Rock and Sweet and Sour Bobby and Charles Tanti and Liquid Hot Magma admin
     
  4. The corresponding 20 point drop on ES does not bode well however it is early yet.

    Just reversed long on ES from 2688 basis so it would be nice to get 10 points at least.
     
  5. brilliant trade
     
  6. Had I not miss-counted points oops.. I was short at the drop off so I have some profits to play with. Just watch out for a doubling of the range.

    Time to get to my desk. Trading lying in bed is not good.
     
  7. Reply hazy try again
    Cannot predict now
    Ask again later
    Outlook not so good
    Don't count on it
    Concentrate and ask again
    My sources say no
    Better not tell you now
    Very doubtful
     
  8. Meanwhile, has anyone noticed the NYSE? That thing has been bullish through most other pullbacks this past quarter.
     
  9. Sigh, doubled for a 2nd leg down but I caught the bounce on NYSE there so all good.

    Never trade in bed even if it is the last day of the year ;)


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  10. 42 ticks on 10 contracts? You're rollin' in some dough! Nice trade.
     
  11. It is a beeatch to build the capital to throw around larger cars but there is something magical about a thousand dollars appearing in a minute ;)

    Reality is one needs capital to be into a few instruments that are not excessively correlated with similar dollar value in contracts. That was the main thing for me to escape the boom/bust cycle. A lot like stock trading, you don't want your portfolio going off the cliff because you have too much in one sector and they all go against you one day.

    On a good day you are positive balance on 5/5 futures instruments but usually the winner instruments outweigh the losers.
     
  12. I hear ya'. I had been building up the courage (and funds) to graduate to more than 1 lot per contract month. I finally did it but at the worst possible time, and 2 cts is now killing me mentally on the unrealized drawdown dance.
     
  13. there is something magical about a thousand dollars appearing in a minute

    That 'magic' is our brains dopamine - and the levels of it when trading exceed have been studied with MRI's Heroin, Cocaine, sex, booze, etc. When the dopamine is doing the thinking look out below.

    Learning how to disconnect from the trading dopamine roller coaster is a key trait of the most successful traders.


     
  14. It may be one of the most enjoyable experiences that one can have with clothes on.:D
     
  15. Well I live in Colombia so I need a bit extra to get that high anymore :)

    Have a good evening, done and off for a long Friday lunch.
     
  16. Nah, I think it would be going to a lottery regional office and having them hand you that huge check for *insert 9 figures here*.
     
  17. I'm not sure that my healthy heart could survive that stress test. Since I'm a down to earth, reasonable guy, I'd settle for low 7 figure payoff. I'll leave the big fantasy to you... :)
     
  18. Oils going up, building materials are skyrocketing, labor for the home-building trades is rising fast (no illegals), and the Fed is gonna have to dish out 3 rate hikes this year.

    I'm gonna say we are near a top...at least until we get some Q1 earnings. This market is priced to perfection. Yea there's nothing on the horizon to bring it down (maybe Kim), and it could keep rising as new money wants to join (chase) the party.... but other than that.... north of Dow 25K is gonna need some serious animal spirits near term. Good time to buy a little gold maybe huh? Inflation is on its way I think.