Dow 2006

kriesau said:
Good Friday is a holiday in the US and markets are normally closed.
Easter Monday is not and markets are all open and trade normal hours.


Ah! thanks for that Kriesau I have been working out a few trading cycles its even more confusing when they land on a long weekend.
 
Looking at where we are now, it seems that the Nas has caught up with the Dow and S&P. The S&P finished yesterday, pretty much at the top of its range (13011.5), but the Dow was lagging a bit by comparison.

It seems to me that the market has come to the conclusion that there will only be one more rate rise in May. That, is, in my opinion arguable. What is not in question, is that we have very high oil prices ($67.64) and are looking ahead to the driving season. Now I know that many of you may think that the market is now used to persistently high oil prices, but I would venture that it only seems that way. Last week Nymex touched $67.90, then sold off to low $65s. Today we are pretty close to the $68 again. I believe it is at this level that the equity market takes notice.

Today could be a bit of a nothing session, with Non Farms tomorrow. I know that Snow said the Non Farms will be a good number (how the hell does he know), but again I would keep an eye on Crude. For me, today, I will be looking at the short side.
 
We will see what this afternoon brings. With the 10 year Treasury yield at 4.90% and Crude at $68 it will be hard for this market to progress much. The question is, will the selling hasten going into the afternoon? The financials are down quite a bit but techs remain fairly strong.

With so much attention being paid to tomorrow's Non Farms, I think todays action maybe a little muted.

I have to say, I would have expected to see more selling.
 
macbonzo said:
We will see what this afternoon brings. With the 10 year Treasury yield at 4.90% and Crude at $68 it will be hard for this market to progress much. The question is, will the selling hasten going into the afternoon? The financials are down quite a bit but techs remain fairly strong.

With so much attention being paid to tomorrow's Non Farms, I think todays action maybe a little muted.

I have to say, I would have expected to see more selling.
Techs are holding up as you say.
NDX only down 0.1% and the SOXX up 0.7% as at 17.15 with the Dow and SPX off by 0.5%.
Non Farms tomorrow could be the real catalyst for further direction.
 
leovirgo said:
I am buying the dips. I expect a retest of 11250.

Well seems to be a great call.

Are there any sellers out there at all? Over the last hour this market has moved up as if there are no sellers. I was looking at a short but decided against it. I have the impression, that everyone (Hedge funds etc) seem to be on the "right" side of the market.
 
The markets really like the reports. Growth with wage inflation under control.
Futures up nearly 40 points.
 
macbonzo said:
Well seems to be a great call.

Are there any sellers out there at all? Over the last hour this market has moved up as if there are no sellers. I was looking at a short but decided against it. I have the impression, that everyone (Hedge funds etc) seem to be on the "right" side of the market.

Thnx Macbonzo. Retest of 11250 now completed. I went long late yesterday and short earlier today. Now out of market to watch the direction. I guess more surprises will come.
 
believe it or not, considering that i've been trying to short this thing for ages, i didn't go short today !!!


aaaaaaaaaaaaaaaaaaaaaaaaaaaaargh !!

Now long from 11,189.

Watch it go the other way.
 
mombasa said:
believe it or not, considering that i've been trying to short this thing for ages, i didn't go short today !!!


aaaaaaaaaaaaaaaaaaaaaaaaaaaaargh !!

Now long from 11,189.

Watch it go the other way.

Perhaps you need a dotty secretary, so everytime you say long she goes short ?
Should be rich in no time LOL
 
Very volatile market. Employment figures apparently already factored into the price by quite a few people.
Just missed the whipsaw - market turning just before it would have triggered my April long at 11295.
Am now short since it then dropped down and triggered my April Sell at 11195 :cheesy:
Running a tight stop here since this could still bounce back during or after lunch !
 
Bond yields moving up - 30 year note now over 5% - first time it has breached this level in 4 years.
Oil still above $67.
Advances 7 v Decliners 23 on the Dow at 16.15.
Techs still holding up in relative terms.
 
Pat494 said:
Perhaps you need a dotty secretary, so everytime you say long she goes short ?
Should be rich in no time LOL


Short now at 11,153. Got 20 points to make up first.
 
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