Where is the Dow & others heading in 2005?

[User]

Oh and can anyone tell me why I still have a temp!

Try Beechams all in one, its a yellow liquid.....

The Dow needs some medicine aswell! 10000 was tested today. But this was the first real attempt as at the start of the week we didnt really penetrate 10,000. I think back up 10200 now. I don't think 10,000 will break that easily. It could be a bit like 10400.

Anyway good luck all for Thursdays session.....

 

[RUDEBOY]

Mmm, sentiment on this thread! is it tradable? I think so! Definately so! Just an observation, keep it up! Mugs mug money? Don't raize it! Top thread! RB.

 

[roguetrader]

78.6% fib from the Oct low to Mar high is at 9981 if we violate 10,000

 

[kriesau]

10G consolidation? abstain or fade? Whatever, downtrend is the name of the game at the moment peeps, let NYSE 'mug' money shine through on this one? Slap it, and ride the ripples, you know what i mean?

No, what do you mean ?

 

[User]

The Dow needs some medicine aswell! 10000 was tested today. But this was the first real attempt as at the start of the week we didnt really penetrate 10,000. I think back up 10200 now. I don't think 10,000 will break that easily. It could be a bit like 10400.

....and so I couldn't stop myself from taking longs at 9999 and 10014 after the close last night.......

 

[trendie]

....and so I couldn't stop myself from taking longs at 9999 and 10014 after the close last night.......

I suppose it depends on your time-frame.
Y'day was an outside day that closed down. I thought that was generally bearish ?

(am becoming as addicted as Racer - took a day off to play)

 

[FetteredChinos]

bloody hell. what the hell happened last night!!!!

found my long order at 10,015 was triggered late on last night..target for this is 10,085, but im not confident in that at all :s

what a completely mental day!!

 

[twiggytwo]

78.6% fib from the Oct low to Mar high is at 9981 if we violate 10,000

Hi , I have 9,859 down or 10,117 up as a possible next move, then consolidation.
this is not from fibs.
regards

 

[FetteredChinos]

edit:- just seen where the futures are currently, so im not too disturbed

phew

 

[peterpr]

I edited it because I don't want anyone to feel bad if they didn't make as much as I did, that's the reason, or if they lost out cos they went long, I don't want other traders to feel bad.. I am not against anyone.. I am against the market

Dangerous emotions - no room for 'em. You're part of the market. Start empathising with the guy on the other side of your winning trade and you're on a slippery slope to becoming a therapist not a trader.

Still, in this therapeutic touchy-feely state we now inhabit you should find plenty of work.

 

[FetteredChinos]

I edited it because I don't want anyone to feel bad if they didn't make as much as I did, that's the reason, or if they lost out cos they went long, I don't want other traders to feel bad.. I am not against anyone.. I am against the market

and what's wrong with going long?

 

[roguetrader]

Hi , I have 9,859 down or 10,117 up as a possible next move, then consolidation.
this is not from fibs.
regards

Hi twiggytwo, out of interest how do you arrive at your levels, 10,117 for example is slap bang in the middle of yesterdays range

 

[kriesau]

....and so I couldn't stop myself from taking longs at 9999 and 10014 after the close last night.......

Good decision. I had 4 shorts open on the Dow last night and was in the money to the tune of 133 pts when the markets closed. All 4 were stopped out this morning at a combined loss of 40 pts. Ce la vie !

I'm still bearish and looking for the Dow to fall to 9900 soon.

 

[kriesau]

bloody hell. what the hell happened last night!!!!

found my long order at 10,015 was triggered late on last night..target for this is 10,085, but im not confident in that at all :s

what a completely mental day!!

Sure was and to complete the picture one of my SB companies placed a phantom trade on my account to sell at 10020 with a stop loss to SELL at 9750 !! (they did zero it out !)

Sometimes you feel you're on that Yellow Brick Road.

 

[FetteredChinos]

Sure was and to complete the picture one of my SB companies placed a phantom trade on my account to sell at 10020 with a stop loss to SELL at 9750 !! (they did zero it out !)

Sometimes you feel you're on that Yellow Brick Road.

sorry about that.. you know you shouldnt have given me your logon details.... :cheesy:


been toying with some longer term strats again..just cant let it lie....

 

[Pat494]

That big overnight jump as you say took out a lot of stops. Maybe my strategy of not having stops is not as silly as it sounds as I think the longer term trend is down. Mere oscillations.
Kriesau
I see NASA have let you in on their greatest discovery (Green cheese)

 

[tradesmart]

As suggested previously, from the height of the major upper consolidation, the target could be support at 9700, and yesterday’s bear flag target appears to confirm that…..

But the last chance for the bulls is for support at c.10000 to hold and for the current chart setup to morph into a double-bottom or a triangle, and a break north of 10200 would trigger longs…..the potential for a third test of the major falling trendline linking the 11000ish high with 10540 would then be validated…

I see that the futs are now up to 10075ish hinting at a very good bounce, but I suspect that the opening price will be some way below this figure…….anyway, there could be a good gap fill play in prospect........

Arthur Hogan, chief market analyst at Jeffries & Co, said the negative reaction to the CPI numbers was unfounded. “You’ve got multibillion-dollar companies reporting good news and good guidance,” he said. “Concerns about the CPI data are at best overdone.”

Mike Malone, trading analyst at SG Cowen, said technical selling was driving declines on the S&P, with prices meeting upward resistance after they sank past critical support levels last week.

 

[User]

The futures are higher and my longs are not looking bad at the moment. If todays data can be taken as positive for this market then we could get a good rally today. If we totally erase yesterdays losses which could be possible then that would be bullish for the market as it would also signify the strength of support at 10000. I believe we could close above 10100 today.

We'll see.......

 

[Racer]

Dow futures up 60, what are they on?
Such a gap up at open after the fall yesterday? That is a bit odd...

 

[kriesau]

Dow futures up 60, what are they on?
Such a gap up at open after the fall yesterday? That is a bit odd...

Oviously a feeling that the drop yesterday afternoon was an over reaction to the CPI and the Beige Book. I'm also surprised that the futures have recovered so much - yesterdays fall was triggered by some quite heavy selling which does not suggest that we have bottomed out yet.

The market will open up but it will have to break through resistance between 10080 and 10100 if it is going to rally higher. My view is that we'll either get some consolidation between 10020 and 10100 or if it falls back and successfully breaches support at 10,000 then it will pave the way to a further decline down to around 9850.
My shorts were stopped out this monring but I'm still bearish and will be looking for new short entries when the market opens this afternoon. I'll also be watching the S & P since it also seems to be a good bell weather at the moment.