Ym Daily Making A Pivot High? But When

[The Bear 10]

Anyone bearish on the dow lately or soon? All I got once was 1 sell off day last week.

 

I've been trading YM a bit lately (short only - intraday), and I'm concerned about taking swing (overnight) longs at this point. Would I be getting in at the end of the party?

 

On the daily YM is pure arching the sky in a perfect line since APR. How long could it go like this without another her big correction? I don't know the index futures like you guys because I don't watch them closely, but how long can one of these perfect rallies last? On one of the small corrections could we end up with a beautiful crash like FEB?

 

I don't buy that it was a technical 'problem' that caused the 500 pt drop in FEB. I think it was real....500 points is not un-reasonable.

[notouch 10]

No one on this board knows how high it will go. You shouldn't even trade what YOU think let alone what other people think. You should trade what you see. Look at the weekly charts. Before the 500 point correction you mentioned there was a 2000 point rally that lasted over a year before any really big correction so if you're waiting for a top you might be waiting a while.

[TinGull 10]

Yea, everyone's scared to short the Dow...and when that happens it's got no where to go but up. It'll take a major crisis, I would think, to really shake things up.

[The Bear 10]

Yeah it's tough for a bear on the dow. I'm more of a bear when I trade YM than a bull, it's tough to be a bear in this market. Since I don't watch it that closely, when the sell off days happen, and they happen rarely these days, sometimes it's too late for me to short by the time I see it happening. 2005 was a good time for bears on the dow...even the first half of 2006. NEED MORE PAIN