thanks big fish. yes, the system is designed for and specializes in catching monster moves in the indexes. i have been exiting trades prior to break even when various factors combine making me confident that price will go back into the channel hence breaking even or closing at a loss. however, my stops are still killer wide and i give up much profit in order to ride the big ones. i do re-enter sub channel of a variety of factors, today was a perfect example--see previously attached chart. yes, i am still short oil. i do not have a firm exit point. surfer
my channel system was originally designed in the late 1990's to capture large moves on the nasdaq indexes. with the advent of the mini dow contract, a contraction in the volatilty of the nasdaq, and an evolving market philosophy, i began to apply the system to the DJIA complex. My interest in the Nasdaq has been revived with the creation of the emini nasdaq composite futures--i have not traded this product yet, but am looking forward to starting based on the channel http://www.cme.com/prd/contract_list_QN5028.html therefore i will start to post the channel figures for the nasdaq as well as the DJIA on this thread. at this time the system is FLAT the nasdaq with the channel being 1973--1897 see attached chart. see you monday,
nikkei futures down 2.2 % Dollar plunges across the board. surfer SHORT DJIA. potential black monday in the works stay tuned ! surfer
korea markets open sharply lower. US shares traded in japan PLUNGE ! black monday ?? surfer Tokyo stocks open sharply down on deadly quakes, U.S. shares' plunge -------------------------------------------------------------------------------- Sun Oct 24 20:47:47 2004 EST TOKYO, Oct 24, 2004 (Kyodo via COMTEX) -- Stocks opened sharply lower Monday on the Tokyo Stock Exchange as the series of deadly earthquakes that hit Niigata Prefecture on Saturday and a tumble in U.S. shares last Friday prompted widespread selling. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average plunged 237.88 points, or 2.19 percent, to 10,619.25. The Tokyo Stock Price Index of all First Section issues lost 19.73 points, or 1.81 percent, to 1,071.11. The Second Section also dropped. Shares in all sectors faced selling in the Tokyo market, except for construction shares. The principal decliners were insurance, real estate, and precision instrument issues. The volume leader at 9:15 a.m. was Nippon Steel, which fell 7 yen to 243 yen. Mizuho Financial Group was the most heavily traded issue by value, shedding 8,000 yen to 394,000 yen. U.S. stocks fell sharply Friday as crude oil futures climbed to a record closing high above $55 per barrel. The 30-issue Dow Jones Industrial Average lost 107.95 points, or 1.09 percent, to 9,757.81, its lowest finish since Nov. 24, 2003. The tech-heavy Nasdaq Composite Index plunged 38.48 points, or 1.97 percent, to 1,915.14. 2004 Kyodo News (c) Established 1945 -0- KEYWORD: TOKYO 24-Oct-2004 20:47