Dow 2006

[dc2000]

Hi Candles

Sorry I missed your post, I exited as I expected to be able to get a lower price tomorrow for my long than where I jumped off today

 

[leovirgo]

I want to see it go above 10880 to label it as a buy day. Given what's happening around the world particularly in Japan and even in US with the techies, good old dow looks pretty resilient. Isn't it?

out of market [cash market] reached 10880.

 

[FetteredChinos]

expiry day tomorrow chaps, so watch out for spikey action today/tomorrow and monday..

FC

 

[SHOPFRONT]

Up Or Down

expiry day tomorrow chaps, so watch out for spikey action today/tomorrow and monday..

FC

Hello All,

I have a short position on march Dow at 11033. Wondering if it is worth holding on to or cash in the money now ????

 

[FetteredChinos]

personally, i am reversing my position and shorting the Dow at today's close, but dont let that be a recommendation for you..

you have to learn to make decisions and be accountable to yourself.

FC

 

[chimpmagnet]

personally, i am reversing my position and shorting the Dow at today's close, but dont let that be a recommendation for you..

you have to learn to make decisions and be accountable to yourself.

FC

FC I did the same thing but looking at :-
the Nikkei overnight and
today the DOW futures currently showing +30 and
options expirations coming up

do you think it's still good to be short?

I was considering closing at loss but it's hard to tell because we would seem to be in mid-range at this level.

 

[FetteredChinos]

well, according to my calculations, we have a 55% chance of the next week being down..

bearing in mind that usually 55% of weeks finish up, thats a pretty big shift in probability..

i am still running both my longs, from 964, and 821.. going to close the latter should we hit 920 again today..

FC

 

[SHOPFRONT]

up or down

personally, i am reversing my position and shorting the Dow at today's close, but dont let that be a recommendation for you..

you have to learn to make decisions and be accountable to yourself.

FC

Thanks for that FC. I think I will stay with short at the moment. Novartis has announced just average figures and there not that many bell weather results out in the U.S. today. Please see below a IMACD graph and see what you think.

 

[macbonzo]

Very muted start to the US markets thus far. Despite the Nasdaq and particularly the SOX being strong, their is little evidence of much buying going on.

We have the Philly Fed at 17.00. Could be a market mover (especially) during lunchtime.

Was long earlier on and managed a small profit, but very much looking on the short side for my next trade.

 

[FetteredChinos]

oooerr, Al Jazeera to broadcast a new OBL tape later...

hmm, wonder how the markies will react..

 

[FetteredChinos]

scratch that, it has just been broadcast.. bloody site is slow this arvo..

 

[leovirgo]

scratch that, it has just been broadcast.. bloody site is slow this arvo..

BBCNews: Arabic TV station al-Jazeera has broadcast an audio tape it says was by the al-Qaeda leader, Osama Bin Laden.

In it the voice warns that new attacks on the US are being planned, but offers a "long-term truce" to the Americans.

perhaps a conciliatory tone?

 

[FetteredChinos]

its all a bit suspect anyway... OBL has only released audio tapes for the past 2 years..

there must be a reason behind it.. perhaps him not wanting his followers to realise quite how fragile and frail he really is? who knows...

but when i heard about the "truce", my first thought was that he was a man on the back foot, seeking a way out..

not that i am a supporter of the way TWAT (the war against terror) has been waged, but i feel that in it's current phase it may be coming to an end..

hmm, complacency?

 

[macbonzo]

oooerr, Al Jazeera to broadcast a new OBL tape later...

hmm, wonder how the markies will react..

You do begin to wonder why the US/Pakistani intelligence services can't find a 6'6' foot character, with a $25m bounty on his head, running around the Pakistan/Afganistan border.

On a market perspective, I do think the oil traders are using an excuse to get back up to $70 pb.

 

[macbonzo]

Philly Fed comes in at 3.3, well below the expected figure of 12.8. Market seems to like it though.

I'm waiting until 6.45/7.00pm. I'm a little suspicious of this move.

 

[FetteredChinos]

they are taking it up today so they can take it down tomorrow as positions get unwound..

 

[mark twain uk]

they are taking it up today so they can take it down tomorrow as positions get unwound..

I too have a feeling that we'll see some down movement tomorrow / monday

 

[houdani]

its a lonely job this sticking to your convictions, am i the only one who thinks we've seen a bottom for the next few days? im long from 10841 and hoping to hold on well into next week. surely old greenspans going to have the best send off wall street can buy? the markets retraced back to very near 10800 which will have some pretty major support and the 15 min and hourly chart have a hefty bearish downward sloping channel. im looking for 10970ish please.

 

[mark twain uk]

I am not sure that the departure of Greenspan would be accompanied by a buying spree, but that's what makes a market

 

[houdani]

I am not sure that the departure of Greenspan would be accompanied by a buying spree, but that's what makes a market

i fully expect a sell off mark,just not before he leaves.