Dow 2006

kriesau said:
LOL - Why would I have been 'upset' about some BS you posted on the board ? (I didn't see you post anything yesterday either so should I postulate that you might have been 'upset' by my prior response). It's not my style to try and patronize people either !

Interested to see whether Jerry's prediction of 11650 on the Dow is achieved this week. He is already 70% the way there !
"Hi Racer, i am talking about a run to 11,650 my upside target...get ready" - posted premarket Thursday after the Dow had closed at 11400.

kriesau, you appear to have taken a rather boisterous stance towards my postings ever since I placed a signature that was intended merely as a little mechanism to generate some fun. ;)

However, before your eagerness to judge my capacity to assess market direction is finalised, I suggest you take a look at my posts 1370 (granted I deleted content from this post at a later date) & 1389. I called 11600 right after Jerry, additionally I might also add that I had mentioned the all time high well before then too, see post 1108 ( pre 11200 ! ) for confirmation. Just because I'am not an out and out technical chartist, should not in any way be taken as confirmation of one having limited market understanding. We all have our distinctive styles, or do we ?

The reason why I called 11600, is quite simply because as we approach the all time high, the extra 50-100 pips are of absolutely no value to me when taken from a bullish perspective. The market may rise beyond the high however, the wise trader will now be shorting the tops. The wiser still, will be buying the bottoms and shorting the tops.
 
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I'm short now, which is bullish for the DOW. On the other hand, I think it should go higher, so that's bearish for the DOW.

Can you give a hint as to what Bat Sonar might possibly be based on, don?

DOW chart below looks realistic to me :p maybe it'll take more than one day, and it'll be 2500 points or so rather than 3000 so as not to break the rising trendline. Question: if it did that on Monday, would you buy on Tuesday? :LOL:
 
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Pat494 said:
I got an email from that BAT person forecasting a drop of 3,000 points in 1 hour on Monday !!
Something also about putting in stops every 50 points ??
I guess it's a wind-up of some sort ?? or is he NUTS ??

Plenty egg on honourable face probably by Tuesday morning though.
:rolleyes: :rolleyes:

A 3,000 point drop would make an interesting chart. Would make 9/11 look like a small blip. About as likely as Tony Blair admitting that he has made mistakes and resigning on Monday :)
 

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leovirgo said:
Are you talking about a correction before FOMC or after that?
My personal thoughts are the dow will correct on and after the fomc.... and that is the exact correction required for the dow to visit 12000 will it reach 12000....I see no reason at all for it not too reach 12000...beause now after 5 years dow has moved out of the 10000 range and we should see a new range......I am no dow expert these are just my thoughts...but definately am getting the vibe for shorting the market if gets to 11600 and that too will go in with a stop of 11800 yes 200 point stop and will put 70% of my capital towards this if this happens before the 10th of this month.....
Lets see what happens...
Happy trading
Rav
 
US leaders need healthy stock markets

In the year 2000, George W Bush came to power with an agenda to invade Iraq. America was prosperous and a major bull market had been in place. Then large scale accounting frauds were unveiled, the giants collapsed and the market corrections took place. America needed a catalyst for growth. There came the huge tax cuts and low interest rates which in turn brought an economic expansion and a booming housing market. Businesses are happy and so are the US citizens. Then the US invaded Iraq. GWBush was re-elected. The leadership and the people are helping each others interest.

Now the markets are making new highs while housing markets start to cool down and interest rates advance further. The dollar is taking the plunge perhaps good for US exports but gold and commodities prices soar. At this time, a new Fed chairman came to the picture. But GWBush has one more agenda- to stop Iran from becoming a nuclear power. I don't think the US leadership can bear the stress of the market crash at this juncture. For the national interest, the government will take the debt/deficit. The housing market will be protected at all cost. Interest rate will not go higher than a certain point perhaps 5- 5.25%. Then the leadership and the people can carry on with a fruitful relationship. :D
 
Bigbusiness said:
A 3,000 point drop would make an interesting chart. Would make 9/11 look like a small blip. About as likely as Tony Blair admitting that he has made mistakes and resigning on Monday :)
its been quoted today that the knives are out for mr pm. you may get your no chance forecast.
 
dcarrigan said:
its been quoted today that the knives are out for mr pm. you may get your no chance forecast.

I'm hoping he stays ....who in their right mind would want Gordon for P M .

Just a clarification....B.liar is no better.......in fact the sooner we are rid of em all ...the better.
 
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DepthTangent said:
Positive news for crude bulls, assuming its logic that moves the prices.
Why not go and pay the 75$ level again.................I totally agree with that this sort of news will put the bulls back into play
 
Now we have some negative news for the crude bulls. So I guess that means the bulls become bears ?

LONDON (Reuters) - Oil fell over $1 on Monday on hopes tension over Iran's nuclear ambition will ease after Tehran made an unprecedented move to contact Washington.

U.S. light crude for June delivery was down $1.10 to $69.10 a barrel by 1330 GMT. London Brent <LCOc1> crude fell $1.06 to $69.89 a barrel.

Iran's President Mahmoud Ahmadinejad has written to President Bush, Iranian government spokesman Gholamhossein Elham said.

"In this letter, he has given an analysis of the current world situation, of the root of existing problems and of new ways of getting out of the current vulnerable situation in the world," he said.

The letter is the first publicly announced personal communication from an Iranian Premier to a U.S. President since ties between the two countries were broken after the 1979 Islamic revolution.

The United States has led international action against Iran's nuclear plan, which it says is aimed at building atomic weapons.

Iran says it needs nuclear fuel for civilian use. It has reacted defiantly to the possibility of any U.N. resolution demanding it halt its nuclear program. At the weekend, it reissued a threat to leave the nuclear Non-Proliferation Treaty.

Analysts were cautious over impact of the letter.



So what impact has this had on the Dow today ? Not a great deal by the looks of things.
 
DepthTangent said:
LONDON (Reuters) - Oil fell over $1 on Monday on hopes tension over Iran's nuclear ambition will ease after Tehran made an unprecedented move to contact Washington.

Until the US rejects Iran's offer... :D
 
Rampant Bull !

NEW YORK (AFX) - Merrill Lynch raised its target for the Dow Jones Industrials Average to the range of 12,400 to 12,600. The prior Merrill Lynch target for the Dow was 11,300 to 11,500. The brokerage also increased its target for the S&P 500 to 1,450 to 1,500, up from 1,350 to 1,400. Merrill Lynch's maintained prior targets for the Nasdaq Composite of 2,430 to 2,450 and for the Nasdaq 100 of 1,780 to 1,800.

Merrill Lynch noted recent multi-year highs for the Dow and the S&P 500 in lifting rates and recent strong earnings in many sectors.

 
kriesau said:
NEW YORK (AFX) - Merrill Lynch raised its target for the Dow Jones Industrials Average to the range of 12,400 to 12,600. The prior Merrill Lynch target for the Dow was 11,300 to 11,500. The brokerage also increased its target for the S&P 500 to 1,450 to 1,500, up from 1,350 to 1,400. Merrill Lynch's maintained prior targets for the Nasdaq Composite of 2,430 to 2,450 and for the Nasdaq 100 of 1,780 to 1,800.

Merrill Lynch noted recent multi-year highs for the Dow and the S&P 500 in lifting rates and recent strong earnings in many sectors.


Kriesau

they're day late and a buck short....................................................... :cheesy:
 
White House Calls Iranian Letter a Ploy
Officials say the missive, apparently the first between the nations' leaders since 1979, fails to address U.S. concerns over nuclear program.
By Maggie Farley and Paul Richter, Times Staff Writers. May 9, 2006

UNITED NATIONS — Iranian President Mahmoud Ahmadinejad sent an unexpected letter to President Bush on Monday, in what was seen as an overture for direct talks about Tehran's nuclear program, but U.S. officials dismissed the missive as an eleventh-hour ploy to forestall punitive action by the United Nations. The letter is thought to be the first direct communication between the two countries' leaders since Iranian militants overthrew the shah and took Americans hostage at the U.S. Embassy in 1979. Diplomats hoped the letter signaled a new willingness on Iran's part to address the standoff over its uraniumenrichment program, which the Islamic Republic says is for peaceful energy purposes, but which much of the West suspects is a cover for trying to build nuclear weapons.

Secretary of State Condoleezza Rice said that the letter did not contain serious proposals on the disputed nuclear program, but covered history, philosophy and religion. The missive also contained a litany of grievances and a demand to be treated as an international power, U.S. officials said. Bush, traveling to Florida, was briefed on the letter's contents. "It does not appear to do anything to address the nuclear concerns" of the international community, White House Press Secretary Scott McClellan told reporters on Air Force One. As Rice prepared to meet counterparts from Britain, China, France, Germany, Russia and the European Union on Monday night about how to deal with Iran's refusal to stop its nuclear activities, U.S. officials said they didn't even want to talk about talking to Iran.

"We don't have anything to say to Iran until they give up their pursuit of nuclear weapons," said John R. Bolton, the U.S. ambassador to the U.N. But Iran's approach may add to mounting pressure on Bush from U.S. allies and some Congress members to engage in direct talks with Tehran before resorting to sanctions or military action. The Security Council this week is considering a resolution that would pave the way for sanctions or military action if Iran fails to halt nuclear activities. Russia and China, which have veto power on the council, say that they are worried about Iran's intentions, but believe there is time for a diplomatic solution before reaching for harsher measures. China said Monday that it would not support any language that included military action.

"The U.S. is thinking we should exhaust the stick before we try the carrot, and the international community is thinking we should exhaust the carrot before we try the stick," said Karim Sadjadpour, an analyst for the International Crisis Group think tank in Washington. The prevailing attitude in Washington, Sadjadpour said, is: "Why should we reward Iran's bad behavior by talking to it when we haven't in the past? It would be conferring legitimacy on the regime. And why reward them for things they should be doing anyway?"

For months, European leaders have quietly pressed the Bush administration to join multilateral talks with the Iranians. "The only way out is for the two directly involved countries to talk to each other," said a senior non-Western official in Vienna who has been following negotiations closely. "Without this, some kind of direct discussion between the two, this issue is not going to get resolved "The idea of direct talks has circulated in Washington for some time, with pressure mounting in recent weeks. Over the weekend, Sen. John McCain (R-Ariz.) said talks should be considered, joining a chorus that includes Sen. Richard G. Lugar (R-Ind.), chairman of the Senate Foreign Relations Committee, and other leading figures of both parties. Mohamed ElBaradei, head of the International Atomic Energy Agency, has also called for direct talks. The Russians and Chinese are considered to be in favor of the idea, along with the British, Germans and French, to varying degrees.
 
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