Where is the Dow & others heading in 2005?

[kriesau]

yes am short.. am gradually building a big short position. It is very hard to find exactly the right place to do a long term trade so I scale in ,and I usually look several months in advance and that is what I am playing for now. not trading this market any more. Too hard to catch the daily volatility. BTW still a lot of selling pressure about 10340 on cbot
I have got a big long on a FTSE company so hedging it while I wait.

So are you trading the September contract ?

 

[Racer]

So are you trading the September contract ?

Yes. I find I read the markets and shares too far ahead and if I look too much at the short term I close out much tooo soon! So this is positioning for several months ahead

 

[Racer]

Oil is spiking up

 

[User]

I was short originally and then sold the position and went long....I'm currently out of the market at around 18 point loss...Won't be trading today as I haven't got time to watch the action....

The session doesn't look promising to me....Could well see a slide in the session...

I would be comfortable shorting but don't want to leave the position unattended as volatility has been a little wild lately and also we are at crossroads at the moment.....downward action should resume....

Although we should end positive on the overall for the week.

Accumulate those shorts the resumption of the downward move should now start to accelerate.....

Racer come on get the big money out! That should be worth 100 point downside....

Anyway good luck to you all for the remainder of the session....make sure you have your seatbelts on please......

 

[kriesau]

Ranging between 10320 - 10350 for the last 90 minutes. It's had two goes at breaching resistance at 10350/360 and two bounces off 10320. Thats where volume suddenly picks up.
Could still go either way today.

 

[kriesau]

Oil is spiking up

Your right - up nearly a dollar in the last 20 minutes - seems like volatility is catching

 

[Racer]

Well so far today there seems to be a lot of selling into strength

 

[User]

Ranging between 10320 - 10350 for the last 90 minutes. It's had two goes at breaching resistance at 10350/360 and two bounces off 10320. Thats where volume suddenly picks up.
Could still go either way today.

Its looking good so far today and as roguetrader said the volume looks good as well to some extent......

But....

Just image if today’s gains are near enough wiped out or if we were to finish the day around the 10260 circa

....that to me would look pretty bearish on the charts and that in my opinion is looking like a good prospect....

 

[FetteredChinos]

still short here.... zzzzzz

part of the problem with only taking a couple of trades per week...

 

[Racer]

Oil now up a lot more

 

[roguetrader]

Bear in mind GM is on course to trade more than quadruple its daily volume in the next hour or so F also trading double average daily volume at this time

 

[User]

Bear in mind GM is on course to trade more than quadruple its daily volume in the next hour or so

Yep thats an interesting point.....it dealt with half of its average volume in the first five minutes of trading...

 

[kriesau]

But....Just image if today’s gains are near enough wiped out or if we were to finish the day around the 10260 circa....that to me would look pretty bearish on the charts and that in my opinion is looking like a good prospect....

I hope that you are right

 

[FetteredChinos]

I hope that you are right

im not hoping..

i know im right..


instead of 10,120 tomorrow.. it looks like it wont hit til friday..

right, im logging off now, so watch it make a big move now lol.

toodle oo

 

[Racer]

Racer come on get the big money out! That should be worth 100 point downside....
.

Will do my best

 

[kriesau]

Twenty-three risers and seven fallers at the moment. We need to see Boeing, Alcoa, IBM, SBC, Verizon, Citigroup, Amex, Disney, Walmart , Coke & McDonalds turn down if the Dow is going to fall back to the 10260 - 280 range.

 

[User]

Twenty-three risers and seven fallers at the moment. We need to see Boeing, Alcoa, IBM, SBC, Verizon, Citigroup, Amex, Disney, Walmart , Coke & McDonalds turn down if the Dow is going to fall back to the 10260 - 280 range.

Long way to go yet............if we can rally 50 odd in the last four minutes of trading....then anythings possible......

who knows the fed might pop in a few more words that he may have missed out....

 

[Racer]

who knows the fed might pop in a few more words that he may have missed out....

Yes! I really can't believe that they leave something like that out.. all eyes of the world on them and they do that? A bit like doing a degree and asking for your paper back after you handed it in cos you missed a few words!

They shouldn't be in charge if they don't know what they are doing

 

[kriesau]

im not hoping..i know im right..

instead of 10,120 tomorrow.. it looks like it wont hit til friday..

right, im logging off now, so watch it make a big move now lol.

toodle oo

FC - I'm counting on you to be right !
10260 today followed by 10120 tomorrow would do for me

 

[User]

A bit like doing a degree and asking for your paper back after you handed it in cos you missed a few words!

I was ecstatic at the time as I had a sizeable long stake on the Dow.......

but....

I thought about it after and basically my conclusion was........what the hell :?:

In major money markets you can't have c**k-ups like that.....I mean this is the flow of money in the indices, stocks, forex, bonds etc…….

That could easily have been 'oh rate rise of 0.25%' and then in the last few minutes 'oh sorry make it 0.5%'............lunacy