Dow 2007

[Bez]

Same game again...Mark down back to that 12368 area then buy back in afternoon...

AAPL back above 91 bucks..the games they play

Edit: forgot to show the bear count chart

Again if it breaks above the 61.8% (b on the chart) then its a re-think for the bears..

 

[kriesau]

These guys are also quite perplexed about current market price action. They see the NDX as the current key for all 4 major indices, with a break through 1820 to spark a rally and a drop through 1800 to trigger a rollover and decline.

http://clicks.aweber.com/z/ct/?HtyvciOrIrPZPGWRjQokGA

 

[Hook Shot]

Can I also add Ibm as perhaps key indicator near term......... trading at historic rez of $100 .... should be interesting to see what frankfurt does with the price in euro sesh...

 

[vergis92]

Profit-Taking Negates Surprisingly Good Employment Report

Bob Carver
Sunday, January 07, 2007

Stocks tumbled on Friday despite a report from the government that 167,000 new jobs were created in December. This was a shock to the bond market, which had factored in a weakening economy based upon recent reports from Monster.com and ADP which showed job losses last month, and bond prices tumbled sharply, raising long term interest rates.

However, the reaction in the stock market was quite unexpected. Stocks tumbled on good news, something that calls into question the whole idea that news drives the markets. The financial journalists hastily went to work, flailing away at various and sundry excuses for stocks to sell off based upon this news. The first law of financial journalism is that news drives the markets, a convenient lie which supports the livelihood of journalists, obviously, but is a gross distortion of reality. In any case, they seemed to settle on the rationalization that a strong economy would forestall interest rate cuts by the Fed under the questionable assumption that the stock market's recent rally had been based upon the idea that this would be the next move by the Fed. Ignoring inconvenient facts is always a good strategy for journalists, who don't seem to realize that the prospect for future earnings is the overriding factor in determining stock prices, not interest rates, nor even their precious lifeblood, news. In fact, all of the journalists' explanations rang hollow, but that didn't stop the mantra they had settled upon. Basically, they missed the forest for the trees. Sometimes the truth is just too inconvenient to report.

The fact that almost all stock markets around the world fell -- many long before the US Employment Report was released -- apparently didn't factor into journalists' rationalizations. Many world commodity markets tumbled as well. The decline in markets last week can be attributed to one simple explanation which has nothing to do with news. That explanation is: profit-taking. Investors who had big gains in 2006 were simply selling their big winners. A look at what the major US stock indices did last week and last year shows that the largest losses occured in the big winners in 2006, a sign that this is a normal beginning of year exercise in profit-taking that has no longer term significance:

Stock Index 2006 Performance Last Week's Change
Dow Industrials +16.29% -0.29%
S&P 500 +13.62% -0.60%
NASDAQ-100 +6.76% +1.63%

Clearly, investors with large paper gains last year were anxious to cash in their chips in the biggest winners. Note that the only major index which showed a gain last week was the tech-heavy NASDAQ-100, which substantially lagged the others in 2006.

Albert Einsten once famously said, "Everything should be made as simple as possible, but no simpler." It's something that financial journalists should keep in mind if they want their product to retain whatever credibility it has left.

It's not profit taking, the market has been developing trading range,
and in down trend potential breakdown since the SP500 closed below 1418.50
after 3 more closes below this level favour now the bearish move to 1390 level

to buy, it would have to close above 1430-31 on strong day.

 

[mark twain uk]

I went long shortly after the open and now I am flat, that's me done for today, 150 pips (75 on dow +75 on spx), I leave you with a nice video, enjoy

http://www.metacafe.com/watch/268339/suoer_erotic_belly_dancer/

 

[pssonice]

u rnt welcome with such kind of links

""

I went long shortly after the open and now I am flat, that's me done for today, 150 pips (75 on dow +75 on spx), I leave you with a nice video, enjoy

http://www.metacafe.com/watch/268339/suoer_erotic_belly_dancer/

""

 

[mark twain uk]

Did you say "u rnt"? What's wrong with you?

 

[FetteredChinos]

dont worry. he is a perma misery guts mark

looks like base building again and its onwards and upwards north..

 

[mark twain uk]

FC,

It sure looks like a bottom is in place

 

[Atilla]

Hi guys.

I like the way, the Nasdaq is manipulated, to bring it up with the others ready for the drop.

Please, please, please. Before you start going on about how the United States of America would never dream of anything so underhand, save it for a young childs bedtime story.

Any thoughts on this?

I-phone :!: ... that should explain the multi billion rises in the index...

What do IBM sell these days anybody know?

Microsoft Vista is going to rock your PC? So they tell us... Anyone seen the new interface yet or even considered buying it?

So who is buying all this goodness if it's not uncle Sam?

 

[andycan]

FC,

It sure looks like a bottom is in place

certainly looks like one
typical of es makes a measured low and then it drops a squint and up it goes

 

[Bez]

Very Key area again....

The Bears will see Flats all over the place.. then drool at the idea of a sharp 5 wave C down..

Its up to the Bulls to take these levels cleanly out other wise its the "morning" mark down as usual....

Two interesting Globex charts.....

 

[Bez]

That MER chart is looking interesting...

An update of it...

 

[mark twain uk]

I think we will soon see an emotional high followed by another hard fall, the questions are how high the high and how hard the fall.

 

[mark twain uk]

Short now on both dow and spx, nothing too big, just in case, and out for a nice evening, have a good weekend folks

 

[tricks]

I also saw that phantom page 9 :cheesy:

Recommend the Barbados bit as well ...

Thanks Bez,

I seriously did think I had lost the plot!!!!!!!!!

P.S. Shall I send a postcard?

P.P.S. How's the EW analysis looking on the DJIA?

 

[Bez]

P.S. Shall I send a postcard?
P.P.S. How's the EW analysis looking on the DJIA?

Complex on the INDU......I need to clean it up over the weekend as I've been lazy due to trading stocks

Enjoy BGI!!
I quite enjoy an afternoon walk along Sandy Lane beach,then round the headland into Paynes bay for a "pit stop" at the Blue Monkey

 

[Pat494]

Hi folks,
Perhaps I should explain that nowadays I am more into EOD trading rather than intraday. I do look in on the Dow thread but less than before.This has freed up a lot of time to do other things – I am thinking of getting another dog to take me for walks, etc.
Sorry to see there is a bit of post Chritmas friction “down at mill”, but that’s nothing too unusual imho or undesirable even.
I am not the only one to have crossed (s)words with Socs. He can and has wound some people up considerably over the years but overall not such a bad fellow really. More entertaing and comical than venemous. More the padding than the useful.
Currently on another thread I am not sure who is fooling or laughing at who in the search for alien lifeforms manipulating the market – C’est la vie !!
Hopefully this thread and all contributors will prosper in the new year

 

[Bez]

A Bull doodle on the SPX...

Any thoughts :?:

 

[stoic]

Bez, could you give us your reasons why the S+P should be going that way, to make it more explicit. I was actually on the breakout on thursday. Monday is Martin Luther King day so the markets are closed