Trading the SPX

[FetteredChinos]

6:20am 07/07/05 U.K. ARMY CALLED IN BY COVENT GARDEN

This is no time for shopping...

 

[Racer]

I go out for a bit and they have certainly closed the gap!
Yes they didn't know where London was and because it isn't part of the US they are not bothered,

 

[Racer]

That's no way to treat your tourists?

 

[Racer]

Gaps closed, this should be interesting.

If this had happened in the US it wouldn't have gone anywhere near let alone go positive!

 

[Racer]

Or where

 

[FetteredChinos]

short then, buddy?

fc

 

[FetteredChinos]

how do you spell "pump and dump" ??

 

[Racer]

how do you spell "pump and dump" ??

Dow Jones, S&P, Nasdaq

 

[FetteredChinos]

consonant please, Carol

 

[Racer]

consonant please, Carol

L

 

[Racer]

10:05am 07/08/05 CRUDE FUTURES TAP NEW RECORD IN EARLY TRADE

(wot...and the markets are up in early trade?...)

give them a bit of time... tick, tock, tick tock... slooooowly does it... think, slooooowly

 

[Racer]

Wow, 61.55/bbl .....no wonder they call it crude

Ah I know why the markets don't care... there are no people left trading anymore, it is just the computers, computers don't need oil!

 

[Racer]

Some resistance here. Little bit of exhaustion for the session.

you think so?

I am stunned... oil at record levels, terrorist attacks, jobs numbers not that good and the market is completely oblvious!

I give up.... !!!

 

[Racer]

Tis the nature of bear market bounces to lure in....

Bear market? Yeah, I wish it would hurry up! I am getting fed up with these luring traps and squeezes

 

[Racer]

And will it turn here? Nas touching 2100 again

Also at the 18:00 turnaround time

 

[lemput]

got caught on the short side as well. Session exhaustion might be a hope but invariably a good day like this will finish at its highs. Will be watching at 8 0'clock for the inevitable rally. Crude is being unwound as well so it will be a hard task for sellers to get a foot in tonight!

 

[Racer]

Got everything until the bit about crude...crude hit a record today and the equities went up...it's now backing off at the end of its session.....so that means?

Equities go down?


Andif they do.......

 

[Racer]

Yes you got it there Joules!

Why do they want to buy shares going into the weekend, especially this one?

 

[Racer]

Have a good weekend Joules.

 

[Racer]

And the winner of Most Beguiling and Misunderstood Non-correlative Action award goes to...Crude

The winner couldnt make it here tonight so the Nymex team (Yellow coats) will come forward and accept the award (these are the Best Ramped award winners this year).

And I suppose it will suddenly become 'the' reason again because it has gone down!
Didn't make any difference when it was going up to record highs.. but there you go....

I saw some comment on Bloomberg about good jobs number on Friday? Uh, they were?? Hmm, don't think so! But don't think they could find a real reason so they had a guess at that..