Racer
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' Stocks edged higher Thursday after the terrorist attacks that rocked London and killed at least 40 people and injured more than 700. The Dow Jones industrials and Nasdaq composite index were both up slightly for the session after losing nearly 1 percent in early trading.
Investors took heart after the homeland security secretary said there was no "specific credible evidence" of a pending attack in the United States. A sharp drop in oil prices also helped the markets rally.'
Investors took heart after the homeland security secretary said there was no "specific credible evidence" of a pending attack in the United States. A sharp drop in oil prices also helped the markets rally.'
The DJIA was trading a range from 10450 to 10250 before todays events. This morning I expected a test of 10250 support - that was until the terrible events unfolded in London.
The Dow is now trading within that range again. My question is do we ignore the effects of today's extraordinary events on the DJIA ?
(Extraordinary in terms of it's effect on the futures market, I don't in any way demean the effect of these attacks on London or it's people)
The Dow is now trading within that range again. My question is do we ignore the effects of today's extraordinary events on the DJIA ?
(Extraordinary in terms of it's effect on the futures market, I don't in any way demean the effect of these attacks on London or it's people)
User
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The US markets and the US could not give a S**T aslong as it does not happen to them.
Having said that the twin towers and the pentagon was far worse in terms casualties and havock...........
Lucky I put on longs at around 10180......was kicking myself as I could have got in at 10050......but then I came back home now.......only to find the Dow closing the day higher by 30 odd.......Lost more than I gained but still.....not bad......sad to see the US markets not really sharing the remorse felt in London.......
Good luck tomorrow......
User
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I got out of my new longs at about 2.00am UK and made my losses of my original longs a little less.......Lost about 2K yesterday but not too bad in the end.....
Currently best to stay out of the market at the moment......
We have the job numbers out today which are normally pretty volatile and I think if the market turns lower we could do so in triple digit fashion as yesterday may be remembered........
Volume was light yesterday and the make-up of traders was obviously a calm one......if the rest of the bunch get in today I'm not sure if it'll end up all too pretty......
Good Luck
Currently best to stay out of the market at the moment......
We have the job numbers out today which are normally pretty volatile and I think if the market turns lower we could do so in triple digit fashion as yesterday may be remembered........
Volume was light yesterday and the make-up of traders was obviously a calm one......if the rest of the bunch get in today I'm not sure if it'll end up all too pretty......
Good Luck
roguetrader
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Deepest sympathies to anyone whose friends or loved ones may have been killed or injured in the gutless, cowardly attacks of yesterday. I sincerely hope our security forces hunt them down like the vermin they are and spare no more consideration for them than they did for their victims.
That said the purpose of terror is to terrorise, and disrupt, the terrorist loses the first battle when his actions are met with courage, defiance and the resolve to carry on as before.
That said the purpose of terror is to terrorise, and disrupt, the terrorist loses the first battle when his actions are met with courage, defiance and the resolve to carry on as before.
FetteredChinos
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seconded..
mental action in both senses of the word yesterday.
am rather chuffed i got out at the very low yesterday.. these things dont happen..
as it stands, im waiting for a break of a previous days high before putting on a long.. could well happen today..
have revised my target to use the market hours low from yesterday... it looks like my target when i eventually go long will be 10,175+600= 10,775...
good luck everyone, and watch out.. its gonna be a spikey ******* this week and next..
mental action in both senses of the word yesterday.
am rather chuffed i got out at the very low yesterday.. these things dont happen..
as it stands, im waiting for a break of a previous days high before putting on a long.. could well happen today..
have revised my target to use the market hours low from yesterday... it looks like my target when i eventually go long will be 10,175+600= 10,775...
good luck everyone, and watch out.. its gonna be a spikey ******* this week and next..
Volume was not light
FTSE volume yesterday was one of the joint highest volumes in the last three months according to yahoo charts.
If you are referring to volume on the Dow, it was not light yesterday. According to advfn it was the fifth highest volume in the last 30 days. I think the Dow has a great chance of closing above 10250 today because yesterday showed that this is a very important technical level.
user said:
FTSE volume yesterday was one of the joint highest volumes in the last three months according to yahoo charts.
If you are referring to volume on the Dow, it was not light yesterday. According to advfn it was the fifth highest volume in the last 30 days. I think the Dow has a great chance of closing above 10250 today because yesterday showed that this is a very important technical level.
user said:
People on Wall Street can care about what happened in London without needing to make the Dow crash. If you did not feel bad about going long yesterday then why shouldn't they. The job of the people who work on Wall Street is to give stocks their correct value so that is what they tried to do. The US markets are just numbers and they don't have feelings.
The fact that European indices started to reverse their losses before the Dow opened helped a lot and the 10250 key support level was kept intact by the close above it.
roguetrader
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I'd hazard a guess the 10,175 comes from yesterdays lowrrtech said:
Non Farm Payroll increased by 146000 consensus was 195000
CES Births/Deaths model adjustment is 184000.
Result is a net loss of 38000 jobs.
Let's see how the media spin it.
Links
http://www.bls.gov/web/cesbd.htm
http://www.bls.gov/news.release/empsit.nr0.htm
CES Births/Deaths model adjustment is 184000.
Result is a net loss of 38000 jobs.
Let's see how the media spin it.
Links
http://www.bls.gov/web/cesbd.htm
http://www.bls.gov/news.release/empsit.nr0.htm
FetteredChinos
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roguetrader said:
correct.. it is in the region for the low zone i had in mind, give or take 100 points...
assuming a bounce from here, i will assume for the time being that 10175 is the swing low...
will need a daily breakout upwards before confirming a long though...
lets see how the normal session pans out.
bit of a boozy lunch, so watch out....
User
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Volume was low in terms of the events that occurred......Volume on the NYSE and NASDAQ was surprisingly subdued given the overseas volatility. NASDAQ volume barely exceeded Wednesday's levels, and NYSE volume increased a slim 4% from Wednesday.
Excellent points.....I suppose in the heat of the moment I posted without thinking......
Sad and shocking events in London yesterday........hope we don't have to see anything like it again.....thoughts and prayers with the families and friends of those who lost their lives or were injured in the London terror attack yesterday.
