What does DOW 12838 mean?

Discussion in 'Trading' started by lowhangingfruit, Nov 21, 2007.

What does DOW 12838 mean?

Poll closed Nov 24, 2007.
  1. Pivot point for the longs

    6 vote(s)
  2. Start of the Bear Market for the shorts.

    6 vote(s)
  3. Nothing...its just a number for Stockturder.

    12 vote(s)
  1. If the DOW closes below 12838 what does it mean?
  2. I hate polls too. This one has relevance though. Please vote. :D
  3. It's merely a number, but it would signal the start of a correction.
  4. gnome


    In hind sight we might say "bear market started on reversal from 14,000", but there isn't any bear pattern until there are lower highs, lower lows.

    IMV, can't call Bear Market until Dow sustains <12,500.

    Could be that we just have a trading range of 12,500-14,000... which would be just fine.
  5. balda


    I'd say that confirmed close below August 16th close (12845). By confirmed I mean close below with a confirmation close.
    Nasdaq - level 2580
    S&P level 1430-1432

    close below those levels will be significant. Just my opinion.

    I am picking up some longs today based on the simplest TA.
  6. First Dow intraday high of the year, last Feb. Non sustainable @ the time and slid to sq. Wild ticks are more important than most realize.
    Often markets mirror or end as they begin. :D

    Always nice to save that uncleaned data separately. You're the first person I've heard publicly mention that number.

    Why do you attach significance?
  7. ElCubano


    it would mean nothing in relation to making money...like stck trader said...it is just a number
  8. HEAR, HEAR, LOL!!!!!!

  9. This bull market will last for decades with 5-10% dips along the way. As usual shorts and bears will interpret each dip as the the start of the next bear market. here is some good reading:



    not again...please dont dump this EOD
  10. It means it will begin raining cats and dogs and monkeys will begin flying out of Maria Bartiromo's butt. Then the skies will darken.....basically mass mayhem.

    #10     Nov 21, 2007