Where is the Dow & others heading in 2005?

[roguetrader]

INDU tracker DIA pricing in an early move to 10,660.

 

[Racer]

XOM losing pre-market gains now up 0.44%

 

[User]

I suggested upside movement yesterday, I suggested upside movement at the start of the week. I think we will have problems at 10700 and should we clear it then I'd be confident in labelling it as a fake out.

Last few days of action before a 10% decline gets underway......

Good Luck.....

Although I am long and short I would not recommend chasing upside as it is a risky trade to be in at this juncture.....

Shorts are the trades to pitch at these fantastic levels......mark my words.....

Put limit sell orders in at 10690-700 area........These shorts will highly likely be the best trades of the year............

 

[Racer]

XOM up 0.32% now

 

[Racer]

XOM -0.10%

 

[Minder]

Anyone shorting at these levels ?

 

[User]

Me......

 

[kriesau]

Anyone shorting at these levels ?

Not yet. The VIX is still hovering just above 10, a full point below its lowest level during the "soft patch" in the Spring. I'm still bearish but we might still see a break above 10700, which could herald a retest of 10800 before we head down.

 

[roguetrader]

Anyone shorting at these levels ?

Have a token option position in DIA Dec 106 puts at the moment but am looking for higher levels to open OEX and ONEQ puts, Targeting an equivalent entry to SPX 1253

 

[houdani]

Anyone shorting at these levels ?

i have to say i shorted late last week,but have since pulled out of the trade.its looking to me more and more likely that 10700 isnt going to hold. 10780-10800 is what im looking to hit before shorting again.could be horribly wrong though...

 

[roguetrader]

Man this is painful to watch, a real grind

 

[orky]

Man this is painful to watch, a real grind

RT

Not if your the right side of it though!

 

[houdani]

Man this is painful to watch, a real grind

is it gonna hold???

 

[roguetrader]

Probably, Nasdaq is already at multi-year intra-day highs as is the SPX and attracting no buyers, there may be a lot of bullish talk out there but that's all it is, talk.

 

[roguetrader]

RT

Not if your the right side of it though!

Orky
I'm flat at the moment, apart from afore mentiontioned optionn positions, which really have no bearing on the current action. I find a lackof vilitility, tight ranging painful anyway, not my bag.

 

[frugi]

State of play ... will the SPX hit 1250 and Dow 10800 or that it?

 

[RUDEBOY]

Good question, Frugi. I suppose you could say it's broke out, but it's nothing major (yet), and it's not attracting much attention (yet). Will it fizzle out, or will it take another major(ish) sell off? RUDEBOY.

 

[RUDEBOY]

Do the corporates 'ask less' of the markets than what we suspect (money management wise)? RUDEBOY.

 

[Racer]

If that was a break out it took an awful lot of pushing!

SOXX only just about managed to close up 0.08% on the day!

 

[RUDEBOY]

Exactly! But you never know?