Diary of a swing spread better

[Slapshot]

Out for +23. ND on CCI & RSI. Off out to lunch now so safer to close the trade rather than connecting to bloomberg on my mobile every 5 mins.

 

[Slapshot]

By the way, the house next to mine has been on sale for a good few months while my friend's one has been on the market since before last Chrismas.

And a report from money.cnn.com also talked about houses just sitting there in the US. With personal debt and equity release have been at record level for a while, this slowdown in house sales is not a good sign.

No it's not m8, but not totally unexpected. The warning signs have been there for a while now 12/18 months at least. Just ask Racer

 

[chindl]

Big open with a pullback - too early for a trade though, not in the plan.

 

[chindl]

Praise the plan! False signal

 

[chindl]

I suppose we should not be surprise to see her in tight reins today waiting for direction ahead of FOMC tomorrow! As Malcolm McLaren said, I could be wrong, I could be right!!!

 

[Vaco]

I'm hoping we will test 10900 today as i have a long trade planned at 10890.

 

[Slapshot]

Second bounce off the 100ema, too close to the open to be traded yet

 

[Slapshot]

Second bounce off the 100ema, too close to the open to be traded yet

Scratch that! Damn data providor offline!

 

[chindl]

Two inverted hammers on the one min charts above both bounces then a lowere low. Really struggling to break 50. Needs a candle close above the hammers..

 

[Slapshot]

It's having a pop now...

 

[Slapshot]

Might be a bit early, but bear flag anyone?

 

[chindl]

Failed again. I took that second bounce, I'm now out at BE because of the failure and the fact it is back to fighting 50 again!

 

[chindl]

One of the other reasons I got out, the candles and the possibility of a flag. Looks too weak at the moment.

 

[Slapshot]

I'm hoping we will test 10900 today as i have a long trade planned at 10890.

If this bear flag does what it should you might be in luck

 

[Vaco]

crude oil and gasolind inventory figures just released both are down more then expected, not sure how this will effect the dow perhaps you can shed some light chris.

 

[chindl]

Strong Crude futures will usually mean a weaker economy and increased risk of inflation. Increased inflation usually means lower equities. What about unleaded? We're going into the holiday season and this is a major impact. Last weeks weaker than expected inventory in unleaded resulted in a run on Crude.
Chris

 

[Vaco]

so lemme c if i got this right....

lower oil inventories should mean higher oil prices which should in turn mean lower stock prices.

is that about right Chris??

 

[chindl]

34 now the issue...

 

[chindl]

Slaps - what would your target be on that flag Slaps, 25 points from here?

 

[chindl]

so lemme c if i got this right....

lower oil inventories should mean higher oil prices which should in turn mean lower stock prices.

is that about right Chris??

You got it!!! We're entering the stormy season as well, so lower inventories at this stage may result in significant run on the Crude complex right now.
Will it be a quarter hike tomorrow or will they surprise with a half point anyone?
Chris