Dow 2006

CHICAGO (MarketWatch) -- Colleen McGovern says she has sticker shock every time she fills the tank of her Dodge Caravan.
"It's costing close to $50 -- it's outrageous," the budget-conscious mother of four said. "And all I'm doing is driving the kids around and going to work. It's not like I'm doing any recreational driving at all."


I should be so lucky for it to cost me that little!!!!!!.... to fill HALF my tank
 
Racer said:
CHICAGO (MarketWatch) -- Colleen McGovern says she has sticker shock every time she fills the tank of her Dodge Caravan.
"It's costing close to $50 -- it's outrageous," the budget-conscious mother of four said. "And all I'm doing is driving the kids around and going to work. It's not like I'm doing any recreational driving at all."


I should be so lucky for it to cost me that little!!!!!!.... to fill HALF my tank

Perhaps you should trade in your F1 car for something a bit less thirsty, fast one !!??
:cheesy:
 
Bigbusiness said:
If you forget that the last "signal" required a 300 point stop and isn't in profit yet :)
BAT made a crash call at 11366 only to see it go up to 11666+.
 
FTSE was so volatile this morning. Down for 150 points but it has recovered 100 points back. So do we have a bottom for Dow and FTSE?
 
just my thoughts but the bottom for the week should be in for FTSE but not for Dow this should come at around 11255
 
Dow Direction

dc2000 said:
just my thoughts but the bottom for the week should be in for FTSE but not for Dow this should come at around 11255



Hi dc, I have closed my Dow short position and taken the profit as I feel we may have consolidation now for some days before a retracement up ----
my reason is that Thur 11th Futures = 11,544 =135 down
Fri 12th Futures = 11,408 = 136 down----- total 271points down
and as I see the DOW average range at 258 points I think we may have seen the main move
this is only my view at present and not advice to anyone .
Macro Economics will decide the direction .
Best Regards :rolleyes: :rolleyes: :rolleyes:
 
Existing-home sales are down more than 15% in five states that have had the hottest housing markets, the National Association of Realtors said Monday. Sales were down 22.2% year-over-year in Arizona, 19.2% in California, 18.2% in the District of Columbia, 15.7% in Florida and 15% in Nevada, the real estate group said. Nationally, sales of existing homes fell 2.1% year-over-year in the first quarter.
 
Quick recap on what ML said last Monday !

NEW YORK (AFX) - Merrill Lynch & Co. Inc. Monday 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. In lifting the targets, Merrill Lynch noted recent multi-year highs for the Dow Jones Industrials and the S&P 500 in lifting rates and recent strong earnings in many sectors.

A week is a long time in the marketplace ! :cheesy:
 
Didn't they also raise FTSE miners like BLT and RIO the day they started on their ski slope :rolleyes:
 
Reports Alleviate Inflation Fears on Wall Street

Two reports released today indicate that wholesale prices remain tame and the housing market continues to cool, alleviating inflation worries that had rattled Wall Street late last week.

The Labor Department said the producer price index rose 0.9 percent in April, but excluding food and energy prices edged up just 0.1 percent, less than the 0.2 percent expected by economists.

Also today, the Commerce Department said the number of new homes on which construction was started fell by 7.4 percent, to an annual pace of 1.85 million, last month. It was the third straight monthly drop in housing starts. The number of permits issued for new homes, an indication of future construction activity, fell 5.4 percent, to an annual pace of 1.98 million.

Stocks and bonds were up slightly after the reports were released. Markets posted two straight days of declines at the end of last week as investors worried that higher inflation would prompt the Federal Reserve to raise short-term interest rates again.

The figures released today could help sway the Fed, which has left its options open, to leave rates, currently at 5 percent, unchanged at its meeting on June 28-29. Investors and policy makers will also be watching a key consumer prices report that is due out on Wednesday.

"Similar good news in tomorrow's report on consumer prices will heighten speculation that the Fed's long tightening campaign is near an end," Kenneth Beauchemin, an economist at Global Insight, a research firm, wrote in a note to clients.

Unlike consumer prices, which are paid by end-users, wholesale prices do not include taxes and distribution costs. Energy prices jumped a sharp 4 percent in April as gasoline prices reached $3 a gallon in many parts of the country. Food prices were up 0.1 percent. Compared to a year ago, wholesale prices were up 4 percent, and, excluding food and energy, they were up 1.5 percent.

The housing report, meanwhile, showed that a steep 13.1 percent jump in home construction activity in January may indeed have been a temporary blip caused by the unseasonably warm weather early this year, as many analysts had suspected it was.

Separately, the Federal Reserve said today that industrial production increased by 0.8 percent in April as mines, factories and power plants increased their output. Capacity utilization, a measure of how fully factories are running, climbed to 81.9 percent from 81.4 percent. Production has increased for three months in a row and is up 4.7 percent from April 2005.
 
would like to think this is a weak bounce trying to clear up those short with shallow pockets or people happy to take a couple of cheap hundred points out the market and lock in those profits. The continued divergence in the Nasdaq makes me think we will go further down here.
 
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