Where is the Dow & others heading in 2005?

[Racer]

I've sometimes encountered a single spike when trading FTSE companies, but they have never activated any stops and have always bounced straight back up to where they were before

Sometimes that can be CFD traders like me buying instead of selling.. I know.. did it once and never again.. moved the price of SBRY about 3%! ROFL

 

[JillyB]

Sometimes that can be CFD traders like me buying instead of selling.. I know.. did it once and never again.. moved the price of SBRY about 3%! ROFL

Remind me to check with you before I trade SBRY again. Just in case!!

 

[Racer]

Remind me to check with you before I trade SBRY again. Just in case!!

And I have closed a SBRY short whilst shopping in TSCOs which is the most amusing trade I have ever done!

 

[JillyB]

Looking at the charts and indicators, I think we might see a retest of the 10,000 level tomorrow. What the feeling on this?

 

[User]

I think we might see a retest of the 10,000 level tomorrow

Could well happen, but neverthless we should see great volatility. Should be fun as 10,000 has been giving some decent support......

Might be tempted to enter long for Fridays session... we shall see.

 

[roguetrader]

I would say a test of 10,000 in tomorrows session is a very strong possibility, but thats a bit long term for me Lets see how we open. Nasdaq Comp has been consolidating in a range from last Oct and is poised to complete a gap fill from there down to 1896

 

[Racer]

Decided rather reluctantly to close out my shorts first thing this morning. Looking at the futures and the way they are pushing them up ... yet again... glad I did. But.. will look to re-enter shorts ASAP!
This is one big bull/bear fight!

 

[peterpr]

Looking at the futures and the way they are pushing them up ... yet again...

You seem to read something sinister into pre-market futures. Just who do you suppose "They" are then?

You covered a short position - so that helped push the futures up. I opened a few long contracts on the YM, which added a bit more fuel so to speak. Maybe there are just a lot of people who are taking a punt on the long side first thing - especially pre-market where I personally find movement rather easier to predict and regularly garner a respectable proportion of my DOW points.

 

[roguetrader]

This is one big bull/bear fight!

Very true, I think we are witnessing the battle that will determine the market direction for the rest of the year

 

[aspex]

Decided rather reluctantly to close out my shorts first thing this morning. Looking at the futures and the way they are pushing them up ... yet again... glad I did. But.. will look to re-enter shorts ASAP!
This is one big bull/bear fight!

At this moment about half that initial rise seems to have subsided.
I will be more than happy to get the trend set again --preferably downhill.

 

[FetteredChinos]

right.. look what happens when i go out for a boozy night out? the market tanks..

long is not looking all that rosy at the moment. currently -60..

thank heaven for wide stops eh.

thats the last time i go boozing.. honest lol.


my tip for today? go long stella june futures.. bumper profits this quarter...

ugh.

as for the dow.. hmm, currently +40 as i type in incoherent fashion.

bit more upstuff, and we could be looking at a gap and run today..

+200? not beyond the realms of possibility..

ughh.

beer

bad....

dancing? good

gig? excellent.

beer? bad..

no more wine

7 glasses by 7pm.

unholy trinity

did i say booze was bad?

 

[kriesau]

Decided rather reluctantly to close out my shorts first thing this morning. Looking at the futures and the way they are pushing them up ... yet again... glad I did. But.. will look to re-enter shorts ASAP!
This is one big bull/bear fight!

Mmm... I decided to close my 10142 short this morning when the Futures price reached 10094. This level could be vulnerable today so 48 pts banked is probably a prudent move (last night that would have been 122 pts at around 9.30pm so with 20/20 hindsight it would have been best to have done it then .)

Holding open my 10254 and 10200 shorts but moving my TSL to cover them. Still keeping my Nasdaq 1436 short open.

Key level on the Dow today will probably be 10150. That proved to be the resistance level yesterday for 3 hours before the big decline set in at 14.00. If it can breach that level if could then retest the previous resistance level of 10260 - but I have my doubts that any bull rally today will get this far. Conversly if it falls back below 10050 after the upswing at the open then we could see 10000 retested again today. This support level could be a tough nut to crack !.

 

[Racer]

You seem to read something sinister into pre-market futures. Just who do you suppose "They" are then?

'they' is anyone, the market, the crowd, an institution with big muscles, anyone..
I just mean.. that the direction of the market is powerful to the upside for whatever reason.

I do not want to fight the market.. I will lose because it is much bigger than me, I can admit defeat. So I decided for today that I would close my shorts and assess it again from the sidelines!

 

[FetteredChinos]

good on you racer..

trade according to your own rules and methods.

the market is huge.. huger than a salami and pickle sandwich (more flashbacks)

you cant fight it. sometimes you just have to embrace the pickle and go with the institutions.

bearing that in mind.. im still long from 10,152...

sometimes a hangover makes things easier...

hmm, pub lunch..



whats the data today? probably not significant.. which means we are going up today...

10,220.

 

[senyorqueso]

Can anyone tell me the best free web site for live Dow futures quotes? I've recently started paper trading, but to date have only been using the index quote rather than the futures value, which I realise isn't really valid.

Thanks,

SQ

 

[Racer]

If you are thinking of trading with spreadbetters you can get quotes from websites such as
www.igindex.com
www.cantorindex.com
I wouldn't use them for daytrading because you are taking their quote not the market

but you can go to

http://www.cbot.com/cbot/pub/page/0,3181,432,00.html

 

[Racer]

12:30 USD Personal Income (MAR)
0.4% 0.3%
12:30 USD Personal Spending (MAR)
0.4% 0.5%
12:30 USD Personal Consumption Expenditures Deflator (YoY) (MAR)
2.5% 2.3%
12:30 USD PCE Core (YoY) (MAR)
1.7% 1.6%
12:30 USD Employment Cost Index (Q1)
1.0% 0.7%
14:00 USD Chicago PMI (APR)
62.0 69.2
14:00 USD University of Michigan Consumer Confidence (APR F)
88.7 88.7

 

[FetteredChinos]

thanks racer..you little sweetheart, you lol

sentiment should move the market at 7pm BSTr

might be choppy before then though.

fc

 

[User]

Very true, I think we are witnessing the battle that will determine the market direction for the rest of the year

Could we have a chance of remaining in a whipsaw for the whole year? Always a possibility but I think we have finished the bull run and have already started the bear market. The only problem is the bulls aren't giving up yet as they still believe in the Bull trend.

 

[FetteredChinos]

what do you mean by whipsaw User?

monthly range is 600 points at the mo, which should be enough to scalp moves out of.

i am longer term bullish.. i cant see us not breaking 12,000 before the end of 06.. but short term we are going down from here into early 06 as per some longer term patterns i have looked into.

i would like to see a double top at 11,000 over the course of summer, and then down hard from there..

FC