Dow keeps going! | Forex Factory

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Dow keeps going!

  • #1
  • First Post: Sep 29, 2008 2:30pm Sep 29, 2008 2:30pm
Wow!
Watching the Dow Dropping over 600 -700 points today is crazy!

Way to go House for shooting down the Bill!

Lets see whats next! a upward move of +400 points tomorrow? The DOW is starting to look like Forex +300 one day Down -500 the next ...then all over again the next day. I would like to see how many people could handle this on a daily basis like we see here in the Forex.

Good thing I trade forex and don't have to worry about the DOW that much!
M4X............ Hedging My Way To Profits!
  • #2
  • Sep 29, 2008 3:00pm Sep 29, 2008 3:00pm
Ive been trading Dow futures lately and been doing very well. Mostly its luck, but, I wait for the Dow to make a huge move up or down, then, it usually pulls back 30-50% at which point I enter in the same direction of the move. Most of the time it will continue in that direction for 50+ more ticks. If it goes against me, I average in until I am in profit.

I realize this is more like gambling then trading but I happen to think all trading is gambling anway
  • #3
  • Sep 29, 2008 4:47pm Sep 29, 2008 4:47pm
According to me, we are very near to a strong support and a move-up is posssible in short time since all the index are in full panic-selling.
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  • #4
  • Sep 29, 2008 4:59pm Sep 29, 2008 4:59pm
Also the Vix could announce un big bounce.
The volatility index has reached livels that you couldn't see from 2003, just first the of that bearish market.
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  • #5
  • Sep 29, 2008 5:31pm Sep 29, 2008 5:31pm
So, today, the Yen got much stronger versus the dollar (since the Yen is much more closely tied to the Dow than the Pound), but the British Pound got weaker versus the dollar. Would you mind commenting on why the USD gets strong against one but weaker than the other? (Don't forget to include that that Oil fell a heap today and Japan imports 99 percent of it's oil). Just fishing for a couple of opinions.

Cheers to being insulated by trading retail currencies!
  • #6
  • Sep 29, 2008 8:31pm Sep 29, 2008 8:31pm
A few months ago the Dow was almost a copy cat of the GBPJPY or vice versa! anyway I used to trade that all day long when dow was up I was buying GBPJPY and if it was a selling day it was time to sell. I made a killing manually trading that way. I woould love to see it start to follow again!
Lets just hope they all done go bust before this crazy market settles
M4X............ Hedging My Way To Profits!
  • #7
  • Sep 29, 2008 10:17pm Sep 29, 2008 10:17pm
Quoting Pipsqueak4x
So, today, the Yen got much stronger versus the dollar (since the Yen is much more closely tied to the Dow than the Pound), but the British Pound got weaker versus the dollar. Would you mind commenting on why the USD gets strong against one but weaker than the other? (Don't forget to include that that Oil fell a heap today and Japan imports 99 percent of it's oil). Just fishing for a couple of opinions.

Cheers to being insulated by trading retail currencies!
Japan is a large importer of commodities.
The Yen has been weak against many currencies before the crisis when commodities were high.
Now the price has reversed.
With uncertainty the Japanese investor is also repatriating their funds.
once the market settles they will look for opportunities.
That means they will need to sell JPY and buy something elese.
  • #8
  • Sep 29, 2008 10:28pm Sep 29, 2008 10:28pm
How about they simply cut the Capital Gains tax (to zero) & Cut Corporate taxes to like 10%.

What do you think the Dow would do the next day???
  • #9
  • Last Post: Sep 29, 2008 10:44pm Sep 29, 2008 10:44pm
Quoting M4X
Wow!
Watching the Dow Dropping over 600 -700 points today is crazy!

Way to go House for shooting down the Bill!

Lets see whats next! a upward move of +400 points tomorrow? The DOW is starting to look like Forex +300 one day Down -500 the next ...then all over again the next day. I would like to see how many people could handle this on a daily basis like we see here in the Forex.

Good thing I trade forex and don't have to worry about the DOW that much!

Two words: Buy Straddles!!!
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