Dow 2007

It's all up to the Industrials now. Today the Industrials closed 421 points above their August 16 low. Transports have already closed below their own August 16, which means that we now have a downside non-confirmation. If Industrials refuse to confirm the Transports, that would give us a bullish situation. Conversely, if Industrials do break below 12845.78, thereby confirming the Transports, we're in a bear market.

Waiting game
 
They think it's all over......

......... the fat lady is about to sing.......

More horror stories in the weekend papers ???

It will be interesting how the S&P futs close ....to see if they surge after official cash close....
 
Dax up to it's usual tricks.....quoted flat for Monday...fortunately managed to get short at 865 cash.....wont let this bast**d beat me.....
 
"I take it no one is long over the weekend with the FTSE Dax etc all set to take a bath Monday and into Tuesday and the dow going for broke, be ware of what looks like a bear market and is infact a fresh buying opp "
 
dc2000 said:
"I take it no one is long over the weekend with the FTSE Dax etc all set to take a bath Monday and into Tuesday and the dow going for broke, be ware of what looks like a bear market and is infact a fresh buying opp "
Click to expand...

I'm actually expecting down pre-market Monday and initial sell off....then a big bounce..luckily managed to catch NDX,AAPL and RIMM almost at the highs...these are now in fib retrace areas and have 3 black crows on their charts...expect a rally starting sometime Monday...

cheers
 
2468steve said:
I'm actually expecting down pre-market Monday and initial sell off....then a big bounce..luckily managed to catch NDX,AAPL and RIMM almost at the highs...these are now in fib retrace areas and have 3 black crows on their charts...expect a rally starting sometime Monday...

cheers
Click to expand...

I'm expecting some fight back from the bulls. Thought it come tonight but obviously not. There is no science to this but last two weeks we had a rally on Friday with falls on Monday.

I'm guessing we'll have some bounce on Monday / Tuesday...

Howsaabout this chart for destination then... Still expecting the worse.
 

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Atilla said:
I'm expecting some fight back from the bulls. Thought it come tonight but obviously not. There is no science to this but last two weeks we had a rally on Friday with falls on Monday.

I'm guessing we'll have some bounce on Monday / Tuesday...

Howsaabout this chart for destination then... Still expecting the worse.
Click to expand...

certainly possible....I've had concern that the 11600 breakout area from May 06 has never been tested as support...nearest we got was back in March at 11950...on the other hand when everyone's bearish and panic ensues...buy
 
There's one report this week that may cause a rush for the exits..Keep an eye on this Friday's TICS data...it's not usually noticed and wasn't widely reported, but last month saw a suprising reduction of inflows and a marked escalation in outflows...I think the market may take notice of it this week...another big reading showing a flight from US assets may cause a big drop in the dollar and a stampede from US stocks...


cheers
 
2468steve said:
There's one report this week that may cause a rush for the exits..Keep an eye on this Friday's TICS data...it's not usually noticed and wasn't widely reported, but last month saw a suprising reduction of inflows and a marked escalation in outflows...I think the market may take notice of it this week...another big reading showing a flight from US assets may cause a big drop in the dollar and a stampede from US stocks...


cheers
Click to expand...

The IC points out retail sales figures on Wednesday may show a rise suggesting housing market not effecting consumer spending...

Also, Friday's industrial production may show output rising 0.1%.

There is also some talke of inflationary pressures as output prices rising...

Interesting weak for sure. Make or break time for the up trend. I think we are likely to have some bounce first though, given how this market leaps at any snippet of good news.

I'm really itching to try a long shot. :cheesy: No pun intended...
 
Atilla said:
T

I'm really itching to try a long shot. :cheesy: No pun intended...
Click to expand...

If the mkt HAS entered a bear cycle, then this move down may be larger than most expect....would need to see a classic blowoff to signal a "buy" - at least in the short term..
 
laptop1 said:
Confusing me this, Crude nearing $100 a barrel but the stock market is ignoring it. I can see the Dow having a 500 to 700 points fall and close at these levels very soon...
Click to expand...


I said this on NOV 6th, 3 trading days later is closed 620 points lower. "Talk is cheap though" I had no money on it worth talking about.
 
laptop1 said:
I said this on NOV 6th, 3 trading days later is closed 620 points lower. "Talk is cheap though" I had no money on it worth talking about.
Click to expand...

I hear you Laptop but I think the falls are more to do with banking worries and sub-prime concerns. At least that's what I believe but not sure.

Nobody is talking about inflation but more rate cuts. Sooner or later the mechanics of the fundamentals must ultimately feed into earnings and the rest of it.

I think lower earnings are now pencilled in so we should see drop in all indeces I'd guess given the sanitised "tough market conditions" as they like to call it - imo:rolleyes:

Must confess talking of earnings I'm seriously considering putting money in to some banking stocks as their dividends are looking very enticing at these prices... :rolleyes:
 
E-trade

Anyone who trades through or has deposits with E-Trade may want to check the financial status of the company..The stock has come off from $26 in the summer and has lost another 50% today,trading around $4......for board members own peace of mind I'd suggest looking into it....

cheers
Steve
 
thinking longs near 12800 - long way off I know - but we WILL get a bounce at some point...although if you are a "longer" term trader still think we break AUG lows convincingly on this move down, depsite short (but sharp) bounces
 
"right then time to give the bulls something to do one last early drop 12767 then buy every thing in sight Dax looking to play ball and hit the 7669"
 
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