Dow 2006

[macbonzo]

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

What happened when Paul Volcker left?

 

[mark twain uk]

Now that is a bit too far away for me, my grey cells don't go that way back

 

[macbonzo]

Now that is a bit too far away for me, my grey cells don't go that way back

Sorry, it was a rather crappy attempt at humour.

 

[Racer]

lots of companies out with earnings in the next week or so

see

www.earnings.com

 

[Racer]

MOT down 6.4 % after hours on earnings

Motorola (MOT:NYSE ) posted fourth-quarter numbers that were generally in line with Wall Street's estimates but failed to ease investors' concerns about the health of the tech sector.

XLNX down 6.78% on earnings

 

[FetteredChinos]

out of original long last night at 10878 for -86 ah well... and short from the same level...

wednesday long from 10821 is still in , target 921 still, or exit on close today...

FTSE moved up nicely this morning...

fc

 

[Racer]

http://biz.yahoo.com/rb/060120/financial_citigroup_earns.html?.v=1

(Reuters) - Citigroup Inc. (NYSE:C - News) on Friday said fourth-quarter profit rose 30 percent, helped by a gain from the sale of its asset management business, but earnings from continuing operations declined 3 percent.

Excluding the Legg transaction, income from continuing operations fell to $4.97 billion, or 98 cents per share, Citigroup said. Revenue totaled $20.78 billion.

Analysts polled by Reuters Estimates on average forecast profit of $1 per share on revenue of $21.72 billion.

 

[FetteredChinos]

short looking ok...

not so sure about the long though... :S

 

[Racer]

GE Reports Record Financial Results for Full-Year and Fourth-Quarter 2005

Financial Highlights (Continuing Operations)

* Record 2005 revenues of $149.7 billion, up 11%; organic revenue growth of 8%
* Record 2005 earnings of $18.3 billion, up 12%; Earnings per share (EPS) of $1.72, up 10%
* All six GE businesses delivered double-digit earnings growth for the year
* Record 2005 cash from operating activities (CFOA) up 42% to $21.6 billion, Industrial CFOA up 14%
* Increased 2006 EPS growth outlook to $1.94-2.02, up 13-17% over 2005; 1Q '06 EPS of $.38-.40, up 15-21%

http://biz.yahoo.com/bw/060120/20060120005184.html?.v=1

 

[macbonzo]

Pre market signs are down GE -0.8%, C -1.5%, MOT -3.9%

Oil is still over $67 bp.

If today were not options expiration day, I would pretty confident of a short. As it stands, I will wait a bit, but, my feeling is, Q4 earnings are looking rather disappointing.

 

[mark twain uk]

closed my dow short at 801 for +100 points and left wandering why I did it, it has plenty of downside left. I do have a problem with taking profits too early, I don't let the winners run their full course, how do you guys manage this problem? It's the one that gives me most trouble, I get itchy fingers and close too early.

 

[FetteredChinos]

mark... don't have profit targets at all....

read Larry Williams "long term secrets to short term trading".. whilst he has some interesting (read: dubious) approaches to exit, he has some mathematical exposition as to why having profit targets is detrimental to system profitability. in some ways, having a profit target is the same as being able to call a top or a bottom accurately, which we know on a long term basis is pretty close to impossible.

just my thoughts though,

and while my short is +80, my long is now -20 and counting..(so dont listen to me lol)

sheesh.

 

[dc2000]

I've bailed out early as well

but its money in the bank as they say

 

[FetteredChinos]

good DC, keep it in there, as you owe me dinner on your cable short

lol

 

[RUDEBOY]

I think FC is right, in certain ways. To trade short term you have got to think about the long term.

Mark, try moving your stop with the market, if you are with the price.

In your situation, you took the whole profit.

That's not a bad thing.

What it can lead to is jumping back in irratically and without thought.

Take your profit today and leave it for some thought.

good trading.

 

[dc2000]

It aint there yet FC but it is getting warmer


Looks like every thing wants to make a trend eh

 

[macbonzo]

closed my dow short at 801 for +100 points and left wandering why I did it, it has plenty of downside left. I do have a problem with taking profits too early, I don't let the winners run their full course, how do you guys manage this problem? It's the one that gives me most trouble, I get itchy fingers and close too early.

First of all, well done on your trade.

I have a similar problem, but, once you have perfected a trading approach that suits your personality it gets easier.

I spent 2 years trading Nasdaq, in a trading room off Wall St. People talk about "day trading", I prefer the term "momentum trading". On average I was in a position for 29 seconds, doing about 100 trades a day. I switched to trading futures a couple of years ago and I spent about a year trying to find a trading style that suited me. In the end, I decided I wanted to be flat overnight and look at each day individually. As a result I never get any big moves, but I never have that sinking feeling that a few "longs" would have had on wednesday morning when they looked at the futures.

I understand what FC is saying, however, I always set stops and have targets. You might his style of trading suits you. Worth getting "The Geometry of Stock Market Profits" by Michael Jenkins. It gives a very different perspective to trading.

But I would stress again in trading, there is never a good sell.

 

[mark twain uk]

mark... don't have profit targets at all....

read Larry Williams "long term secrets to short term trading"...

.

FC,

I've read mixed reviews about the book, did you find it interesting? Is it worth £30?

 

[Pat494]

Mark
I used to make exactly the same mistake of grabbing profits too early. Especially after a few losses. It does do one's ego a bit of good though. RB's advice of moving your stop down as the market falls is excellent. Usually about 20 points behind and lock in profits. Really annoying to see one's profit suddenly disappearing as the market changes direction.

 

[RUDEBOY]

It's all catch 22.

What about the traders who let profits turn to dust?

Long, mid, short term.

Maybe none of us should be trading?

We've all got a trading epitaph.

What's your's?