roguetrader
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To give an idea of the significance of the MA, the SOX has only managed 3 weekly closes above that level since Aug '02 I think, and fell below the following week, bear in mid this a weekly MA and therefore intra-day and even daily violation is acceptable.
macbonzo
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user said:
Seems that Du Pont is holding the Dow back. Both Nasdaq and S & P are positive. Having moved up 324 points in 3 sessions, I would think we should see at least some consolidation. It's one for the brave. Tomorrow is witching and as long as NYMEX Crude does not fall, I will be looking to get short around 10470 - 10500 for a intraday trade at least.
roguetrader
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roguetrader
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roguetrader
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That would be my take, whilst a confirmed breal would attract a lot of attention and be very bullish
User
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do you have a target in mind if you did short at 10500?
An instant target of 10400 but thats because I haven't looked at the target as I've only just concluded to myself that it could well be the time to short now......
but I would definately think about shorting soon. VIX has come down too low levels as well. I really need to analyse more and then I'll post a more definative case. Probably be over the weekend.
Until then SHOULD we touch 10500 ( we may not) it'll most probably be brief so try and catch a short if you can or simply short near the current levels. I'm short at 10475 but thats just on the basis of 15min chart. I haven't entered a longer term short yet but will be looking too very soon. Maybe today, Friday or Sunday night. We'll see.
We've moved from around 10140 to nearly 10500. Around 360 for the week. Why does it seem so promising? It seems promising to the upside because we've gone up nice and quickly! Why have we gone up so quickly? Automatic stop loss trigers have helped greatly.....
An instant target of 10400 but thats because I haven't looked at the target as I've only just concluded to myself that it could well be the time to short now......
but I would definately think about shorting soon. VIX has come down too low levels as well. I really need to analyse more and then I'll post a more definative case. Probably be over the weekend.
Until then SHOULD we touch 10500 ( we may not) it'll most probably be brief so try and catch a short if you can or simply short near the current levels. I'm short at 10475 but thats just on the basis of 15min chart. I haven't entered a longer term short yet but will be looking too very soon. Maybe today, Friday or Sunday night. We'll see.
We've moved from around 10140 to nearly 10500. Around 360 for the week. Why does it seem so promising? It seems promising to the upside because we've gone up nice and quickly! Why have we gone up so quickly? Automatic stop loss trigers have helped greatly.....
Racer
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user said:Whats the consensus on the thread about the market? Racer, Kriseau you two seem to be bears that believe the bear trend has begun......Whats your views, please don't start to turn your positions into Longs as thats what the markets trying to do.... It painting this s**t picture that yes here we are moving towards 11,000 and before you know we'll be sitting at 10,000 again.
More views please about individual trader market stances please, because the moment most of you start to feel comfortable with longs then that'll be the time to short.
Don't call this a rally......call it a fake move up!
Racer two weeks ago you were suggesting about pumping a big short.......I did caution you according to my own analysis......You might aswell start accumalating your shorts because your sure getting good levels!
Major Failure area to watch:10490-500
I said I was starting a swing short on September, still short and adding. vols on down moves in last few weeks more that upside and even yesterdays vol wasn't as high as some on the down moves.
I have plenty of time, it is several months till expiry, I am usually very patient with my Dow swing trades, so am not bothered at all by these intraday moves (that is why I want to open a futures account for short term trades, still adjusting to the program, paper trading and tweaking the settings)... look up close at intraday ticks and you can't see the wood for the trees as they say
User
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Your true.....just start adding adding and adding as your short alone should make this market swing around 200points lower from current levels and thats what we need at the moment.....
Would I be correct in saying that your Stop losses are near the highs of the year?
Good Luck anyway.....
Racer
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NEW YORK (Dow Jones)--Philadelphia area manufacturers saw a sharp slowing in growth and employment gains in May, although the blow was lessened to some degree by a lessening in inflation pressures.
The Federal Reserve Bank of Philadelphia said Thursday that its business conditions index, a measure of the health of the region's manufacturing sector, stood at 7.3 in May, from April's 25.3 and March's 11.4. Readings above zero indicate expanding activity, and describe the breadth of the expansion, although not the size of the change in activity seen by individual firms. Economists had expected to see a reading of 19.
The Philadelphia Fed's report is one of the first releases of data detailing economic conditions during May. It follows the New York Fed's Empire State manufacturing survey from earlier in the week, which showed an unexpected contraction in activity. The ugly turn in the New York Fed's index had some forecasters worried that the Philadelphia survey would also be weaker than expectations.
The Federal Reserve Bank of Philadelphia said Thursday that its business conditions index, a measure of the health of the region's manufacturing sector, stood at 7.3 in May, from April's 25.3 and March's 11.4. Readings above zero indicate expanding activity, and describe the breadth of the expansion, although not the size of the change in activity seen by individual firms. Economists had expected to see a reading of 19.
The Philadelphia Fed's report is one of the first releases of data detailing economic conditions during May. It follows the New York Fed's Empire State manufacturing survey from earlier in the week, which showed an unexpected contraction in activity. The ugly turn in the New York Fed's index had some forecasters worried that the Philadelphia survey would also be weaker than expectations.
Racer
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ENS US-Economy : "Mortgage debt poses risk"
19-May-2005 13:32
Federal Reserve Chairman Alan
Greenspan again pushed for limits on
the multibillion-dollar mortgage
holdings of Fannie Mae and Freddie Mac,
saying such restrictions would not hurt
the thriving housing market.
Greenspan, who has been pressing
Congress to limit the holdings of the
two mortgage giants, warned today that
their debt poses a risk to US financial
markets.
As Fannie and Freddie grow ever
larger, their ability "to quickly
correct a misjudgment in their complex
hedging strategies becomes more
difficult," Greenspan said.
19-May-2005 13:32
Federal Reserve Chairman Alan
Greenspan again pushed for limits on
the multibillion-dollar mortgage
holdings of Fannie Mae and Freddie Mac,
saying such restrictions would not hurt
the thriving housing market.
Greenspan, who has been pressing
Congress to limit the holdings of the
two mortgage giants, warned today that
their debt poses a risk to US financial
markets.
As Fannie and Freddie grow ever
larger, their ability "to quickly
correct a misjudgment in their complex
hedging strategies becomes more
difficult," Greenspan said.
