Racer
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I still have a long running, have moved stop up to protect profit and, yes will wait for the short.
I am still bearish despite the jump today! I took the opportunity to trade for the other direction, keeps me in a balanced frame of mind as well.
Shame I didn't add to the long, but I am not that bullish! Was happy I put the trade back on despite being stopped out (on a profit I may add) when I left for half an hour.
And the profit on what I call a small trade is certainly not to be sneezed at
I am still bearish despite the jump today! I took the opportunity to trade for the other direction, keeps me in a balanced frame of mind as well.
Shame I didn't add to the long, but I am not that bullish! Was happy I put the trade back on despite being stopped out (on a profit I may add) when I left for half an hour.
And the profit on what I call a small trade is certainly not to be sneezed at
Racer said:
I reckon so!! Nas making new lows today and so did the semi conductor index(sox).Remember,markets never move in a straight line and although you never completely know with these markets im still very bearish until we see some major resistence taken out,that is some away at the moment.
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Worked out well in the end....
I went long at 10098 and although I would have loved to get in lower i had to wait for confirmation of my intraday trendline breach. Anyway go long near the lows......?
I was probably the first to say 10000 could well be like 10400 in terms support. So far its looking strong. I also mentioned the range we would remain in 10000-10200 although we went higher from 200 by about 50. Anyway not much has changed in regards to the range but at this moment in time.....call it a dcb....or a bull trap.....10,000 looks strong and I feel the strength of the support should let us go slightly higher and we could well test 10400. The strength given by 10,000 area deserves some upside which was seen in Friday's session.
Thank you...have a nice weekend.
I didn't witness the remaining hour or so of the market as I went out but nor did I close my longs...nice gains and an eventfull night as well.
Good luck for next weeks trading as I believe it'll be of great significance for the next month or so....
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Below is a comment that comes from a source that I have subscribed to for some time.
They are quite conservative in their approach to trading:
FWIW
Stocks spent most of the week moving lower as good overall earnings news was not enough to offset increased concerns about a slowing economy. Indeed, GDP numbers released Thursday showed that the economy only grew 3.1% in the first quarter, below views for a 3.5% increase. Business investment slowed significantly, while a key measure of inflation, the core PCE price index, rose the most since the last quarter of 2001. Not surprisingly, stocks took a hit on the news and kept falling until Friday morning, with the Nasdaq 100 and Russell 2000 reaching new lows for the year. Retreating oil prices then ignited a mid-day reversal that helped stocks recoup some of their earlier losses. Even though Friday's reversal occurred on increased volume, it can in part be attributed to short-covering as it is likely that some of the same investors that were shorting in the morning bought back in the afternoon. Once again, all major indices finished the week below their respective 200-day exponential moving average (EMA). The Russell 2000 lost 1.72% on the week. The Nasdaq 100 was flat while the S&P 500 gained 0.41%.
It does not take a rocket scientist to figure out that we have been stuck in a trendless, range-bound, sideways market for nearly 20 months.
They are quite conservative in their approach to trading:
FWIW
Stocks spent most of the week moving lower as good overall earnings news was not enough to offset increased concerns about a slowing economy. Indeed, GDP numbers released Thursday showed that the economy only grew 3.1% in the first quarter, below views for a 3.5% increase. Business investment slowed significantly, while a key measure of inflation, the core PCE price index, rose the most since the last quarter of 2001. Not surprisingly, stocks took a hit on the news and kept falling until Friday morning, with the Nasdaq 100 and Russell 2000 reaching new lows for the year. Retreating oil prices then ignited a mid-day reversal that helped stocks recoup some of their earlier losses. Even though Friday's reversal occurred on increased volume, it can in part be attributed to short-covering as it is likely that some of the same investors that were shorting in the morning bought back in the afternoon. Once again, all major indices finished the week below their respective 200-day exponential moving average (EMA). The Russell 2000 lost 1.72% on the week. The Nasdaq 100 was flat while the S&P 500 gained 0.41%.
It does not take a rocket scientist to figure out that we have been stuck in a trendless, range-bound, sideways market for nearly 20 months.
:idea: :arrowu life does not get any cheaper .me i have to buy something every day.not like before.i want to have it is the first thing on a babys mind.we have taken some big steps.you must be dead if you dont get up after you fall. :idea: :sometimes they stumble
User
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Well I think that stat seems solid enough.
Certainly sounds convincing to me....so I reckon I'll keep my longs open..
A decisive week this may turn out to be...Also a great chance to break to the upside from the current range we have been seeing.
Overall trend: DOWN
Current trend: WHIPSAW
Short term trend: UP? could be...
senyorqueso
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Anyone know where I can read up the the relationship between US index futures prices and the actual index prices?
Thanks,
SQ
Thanks,
SQ
peterpr
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The relationship is more or less the same US or UK (or anywhere else for that matter). There used to be an excellent tutorial on the subject on the LIFFE site but since merging their affairs with Euronext I can't find it. The following link gives a brief potted summary:senyorqueso said:
http://www.euronext.com/editorial/anchors/wide/0,5371,1732_1202615,00.html
A search in the CBOT or CME exchanges might yield useful info to:
http://www.cbot.com/cbot/pub/page/0,3181,949,00.html
http://www.cme.com/
"The first 5 trading days in May during the 1st year of the presidential cycle have been up about 90% of the time since 1928. Long term, the strongest 5 day period.... "
does this apply in this instance? i mean it is the third and last term for the president.. will be interesting...
does this apply in this instance? i mean it is the third and last term for the president.. will be interesting...
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....'during the 1st year of the presidential cycle'
which it is...
yes it'll definately be interesting... its not 100% but 90% still looks good...
Having said that, if the Dow was to close above Fridays close by say only 1 point then the statement would still be correct....
Interesting week but I think it'll also be a decisive week...
