Trading the SPX

Joules MM1 said:
Might have to go there Racer as cmc swap to 4 spread after market
Click to expand...
I would prefer Fins to IG for narrower spreads, prices don't refresh as fast as IG though

But I don't trade intraday with spreadbet companies, want to do futures cos if you put orders on the book you get the other side and spread is 1 even if you don't want to wait to get a fill

See this for example
http://www.cbot.com/cbot/pub/page/0,3181,432,00.html
 
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Joules MM1 said:
Bulls get comfortable

S&P 500 holds on to four-year high hit in previous session, Nasdaq manages new high for 2005.
July 15, 2005: 5:39 PM EDT
By Alexandra Twin, CNN/Money Staff Writer.

Ah, sweet, oh how sweet the headlines...Yes, you get nice and comfy....

Julian
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Yes Joules, they are very complacent.
What is interesting is that before the London bombings, the Dow and US was on the way down before earnings season.
Now it is all optimism and exhuberance just a week later?
With such optimism, results will definitely have to be good... including the outlook.
Initially..they will not look at outlooks that aren't so optimistic but focus on the positves. So we shall have to see if earnings are good or bad!
 
pre-market after earnings release

BAC Bank of America down 1%
NE Noble corp down 2%
C down 2%
MMM flat
HAS up 3.4%
 
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Joules... it is a simple correlation. we have just changed everything around to confuse people.!Crude falling will be the new reason if the S&P goes down. It will signify a slowing economy. Just waiting for the media boys to start looking for any excuse to get paid.
 
--St. Louis Federal Reserve President William Poole painted an upbeat picture of the economy late Monday in an interview with Reuters, and said market expectations of further U.S. rate increases are "reasonable."
"The market is anticipating the funds rate is going higher and I respect the market and that is a reasonable expectation," Poole told Reuters.
"The economy is robust and it will be able to grow at a pretty good pace and inflation should remain in the neighborhood it is in even if we get some adverse surprises. I think the economy is on a very firm footing," he said.
The federal funds rate currently stands at 3.25% after nine consecutive 25-basis-point Fed rate increases.
Poole noted that the market sees the 10-year U.S. Treasury note yield settling around 4.20% and the Fed funds rate at around 4.0%.
He said "it is perfectly sensible for the market to be there," but that "no one should be locked in rigid that that's the way it is going to be."
The 10-year yield was at 4.22% early Tuesday.
Poole said what the Fed decides to do will depend on the data.
"If we see, over the next six months, growth on the high side and inflation on the high side, it's logical that Fed funds (rate) increases will continue for longer than might otherwise be the case."
However, he added, "you can turn that (view) 180 degrees around" if the economy is weaker.
 
Thanks Joules, very choppy today I must say

BTW SHEL reweight on FTSE tomorrow will be 8%, huge vols (63M) in extended auction today on it
 
Joules MM1 said:
Racer keep your eye on the VIX and it has today closed the gap up for yesterday on lilting indicators. Looks like the cycle turn I have is a high. SPX 61.8 altime high to Oct 02 low is 1253 so that appears to be out target and watch out for how choppy the pattern is getting to that point.
Click to expand...

1253 would be nice Joules, looking a bit of a struggle though to make any great headway. Nasdaq is trying.
 
This is a very lackadaisical day, not really any proper follow through from indices at all apart from the Nas
 
Joules MM1 said:
Even if I am tad ahead of the pattern I think this one has a minor top here. Oh,the fundamentalists must be having a moaning bonanza on this one...how many years would you have to wait just to get one shares worth back at present earnings? :(
Click to expand...

That comment reminds me of something not that far in the past...... ;)

Ah, but it is different this time of course
 
good lad joules. you will probably get a fill. Greenspan 'more rates to come' talk is certainly welcome.
 
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