Dow 2008

[Hook Shot]

The Buff loves Glaxo

Glaxo the mega pharma company is now within 5% of the old bear market lows of circa £10 and now yields 5% ........ not sure glaxo will go bust or that sickness will be eradicated......anytime soon :cheesy:

Give it time....

Not much time required ~ A week after my post Buffett reportedly buys into Glaxo (Gsk) .......... I bought mine @1040p and buffett apparently bought his much higher late last year ........

........... I think we can say that Gsk is unlikely to go down that much further from here

 

[chilltrader]

"gambling" ?! We don't do that in these parts :cheesy:

I don't know when the announcment will arrive. My original msg said possible within a week ........ but it could happen anytime ... Gov Spitzer said they probably needed a solution within a week hence my "possible within a week" comment.

Interestingly Gov of New York believes a fed bailout would not be a bad idea (Cnbc - Mad Money Friday 15th).

Apologies to those who expected an announcement today ....... it was possible but perhaps a touch optimistic since there are politics/politicians involved.

Interestingly Gov. Spitzer is still pushing for private capital to be injected into the bond insurers to shore up the toxic stuff .....i.e Wall Street .... after all their balance sheets have never been in better shape ...

but govt bailout seems more feasible option if they want to do it .......... of course they could let nature take it's course and find some justification for this heinous act .... as I said it's a coin toss.....

Tradingwise...
I'm looking to take a cheeky long play in one/two of the european banks/insurers starting Monday... particularly those near ground level......... gambling really .... but the risk/reward seems acceptable (2ME) with a stop.

 

[Pat494]

Personally I think there is a case for not bailing out various financial institutions by the taxpayer. It would teach certain over-valued parties to be a lot more careful with the company's money.
They used to prosecute "useless" managers in these situations. Now its not even considered to be worth a mention. HAH ! They still draw huge salaries and fat bonuses. None of them dare refuse any other or they will be out of the gravy train.

Pretty sickening really

 

[ammo]

i think since the governments last resort is to bail them out, they should lend them the money first,that fixes the problem and maybe they'll even pay it back,at least there is a chance the taxpayers won't have to foot the bill

 

[theroguetrader]

Not much time required ~ A week after my post Buffett reportedly buys into Glaxo (Gsk) .......... I bought mine @1040p and buffett apparently bought his much higher late last year ........

........... I think we can say that Gsk is unlikely to go down that much further from here

and " Kraft foods " -

 

[Atilla]

Hi everyone,

Looking at the Weekly charts I can see the bigger H&S forming. If 12000s region fails to hold this is going all the way down to 10,000 somewhere. I have S1@11859 & S2@11658 and from there I'd expect free fall.

This is really scary because couple of weeks ago 12800 got clearly rejected.

Last week 12600s got rejected.

Given all the turmoil in the markets I'm not sure 1200s will hold. I'm not a Elliot Wave user but at a rudimentary level I think we have had 12345 - ABC correction and now we are on the 5th leg of the second 12345 down.

At another level we may be seeing a symmetrical wedge formation moving sideways but these normally carry through in the direction of the main trend which I would say is still down at the moment.

In all honesty I'm not sure what to do. I'll be following my MA22 direction.

On a fundamental level the news seems to be getting worse. Stagflation and inflationary pressures are being much talked about. Worst aspect of this is non-descretionary purchases (like energy, foodstuffs, oil) all seem to be rising whilst descretionary household and clothes kind of stuff are pretty level. In summary I'm not sure we can avoid the inflation.

Only solution is to raise taxes but watch this space...

Good trading everyone...

 

[Hook Shot]

gOOD iDEA

i think since the governments last resort is to bail them out, they should lend them the money first,that fixes the problem and maybe they'll even pay it back,at least there is a chance the taxpayers won't have to foot the bill

I'm now moving from Govt bail out to poss Govt/Fed Res bailout!
I keep reading comments about Fed powers (in special circs)... and the possibility of it buying back a whole range of securities stocks, bonds you name it.....

But then Fed and Govt are synonymous

 

[Hook Shot]

Ftse puzzler....

I'm already wanting to buy the dip early in the week in advance of some movt with bond insurance debacle...

But Rbs, Barclays & Lloyds seem (from rumours) pretty bullish saying those now high divis ...... are safe or will be increased!!!! If that's true then ftse is not high enough and so a deffo buy on any dip today...... I'd love to see 5800 but unlikely
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Japan the only fly in the ointment generally with today's reversal but I'll probably look to punt that too since it's already had it's "dip" .perhaps ..

 

[Hook Shot]

and " Kraft foods " -

I missed Kraft's I knew there were already a stack of smartboys (Icahn etc) in there but got distracted ......c'est la vie.... :whistling

 

[Hook Shot]

Turned out nice again ..I see

Tradingwise...
I'm looking to take a cheeky long play in one/two of the european banks/insurers starting Monday... particularly those near ground level......... gambling really .... but the risk/reward seems acceptable (2ME) with a stop.

Although..... I had to be selective......after the UK boys shot out of the gate.

 

[Hook Shot]

Absolutely Sublime .....

I'm already wanting to buy the dip early in the week in advance of some movt with bond insurance debacle...

But Rbs, Barclays & Lloyds seem (from rumours) pretty bullish saying those now high divis ...... are safe or will be increased!!!! If that's true then ftse is not high enough and so a deffo buy on any dip today...... I'd love to see 5800 but unlikely
====================================================================
Japan the only fly in the ointment generally with today's reversal but I'll probably look to punt that too since it's already had it's "dip" .perhaps ..

didn't get my big wish but took a bite any way in smaller size :cheesy:
"not high enough..." @+ 77 then closes with me @ +150 odd

 

[kool4caats]

Maybe a bit off-topic, but has anyone got any thoughts on the Dow?

 

[kool4caats]

The attached chart shows my analysis of the Dow.

This chart is a couple of days out of date, but the price action has been contained within the symmetrical triangle formation, and is really running out of room now, so I'd expect a big breakout today, and my position over the last week or so has been a breakout up to 12950-ish before a sharp move lower. This is currently looking more doubtful though.

 

[KaMo]

KaMo new member

Maybe a bit off-topic, but has anyone got any thoughts on the Dow?

I'm new to this. I like your chart work. I missed the trade yesterday morning. I had intended to buy DXD at the open. I was caught up in getting out of DRYS and missed it. I hope to get ideas from this site and begin to mainly trade the DOW have a good day
KaMo

 

[catracho]

Maybe a bit off-topic, but has anyone got any thoughts on the Dow?

Like you said DOW and most major markets have been trading in a triangle/wedge formation since end of Jan..consolidation or base? That is the question...!!

My bias is for a break south, and a retest of Jan lows or new lows...before we get a decent tradeable rally (medium term)...

However -a break North of the boundary may see 13k + on Dow...

waiting for the move....

 

[Hook Shot]

Total Lunar Eclipse

With the dow on the "edge" of the triangle/pennant ... worth remembering that Feb20/21 is TLE....... last fime New Moon was when feds came in (after us hols) with a massive rate cut....... probably means nothing ........

 

[catracho]

hourly charts...

Like you said DOW and most major markets have been trading in a triangle/wedge formation since end of Jan..consolidation or base? That is the question...!!

My bias is for a break south, and a retest of Jan lows or new lows...before we get a decent tradeable rally (medium term)...

However -a break North of the boundary may see 13k + on Dow...

waiting for the move....

some charts attached...

 

[Hook Shot]

With all this new found optimism...

Can't add anything to analysis of cat and kool so .............
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Hewlett PACKARD is nearing it's 200ma......... in the 48 zone.... following a big mark up today..........................

Still want to buy msft and short wmt...(again)

 

[lockstock]

A wedge of this nature, ( triangle) usually breaks the way of the major trend, been some profitable trades with in the wedge, managed a 12 499 short yesterday.


Any ideas where the market is heading today?

My guess, an up rally and then down, way down, as no one will want to have long positions over the weekend.

 

[dans_ya_man]

Triangle formation getting tighter, I think we will have a break of it today being a Friday and my bias is on the south side