Where is the Dow & others heading in 2005?

[Pat494]

Just been listening to an interview with the Chief Economist of Standard and Poors on Bloomberg - apparently no worries about the rising price of oil yet until it reaches triple digits !!
Well that's a relief !

 

[Racer]

Have we got a runner now after that dithering for the last half hour?

 

[eddyjo]

According to economists while the American economy remains bouyant the oil price will keep rising. A real catch 22 situation.

 

[Slapshot]

support at 10590, if that goes then 10540 is a real possibility

 

[Pat494]

Officially the majority group in Texas is now Spanish. A bit awkward for George if they vote to join Mexico. :cheesy:

 

[lemput]

we didnt take out the 590- tested twice today. 8 o'clock rally tonight. With all the negatives out there the dow can but rally. i reckon 10660.

 

[Racer]

Yesterday the market fell more than 100 points off the highs... the excuse... high oil price... today oil even higher and Dow moving up.. great correlation there

 

[orky]

Yesterday the market fell more than 100 points off the highs... the excuse... high oil price... today oil even higher and Dow moving up.. great correlation there

Totally agree with that staement Racer.

 

[Slapshot]

we didnt take out the 590- tested twice today. 8 o'clock rally tonight. With all the negatives out there the dow can but rally. i reckon 10660.

It's decision time....30 point range since 5ish, question is which way will it run for?

 

[Pat494]

It's decision time....30 point range since 5ish, question is which way will it run for?

Good call about decision time. That triangle was getting smaller and smaller. I couldn't see which way though.

 

[houdani]

time to short again methinks! hopefully 10700 is the right shoulder, but this market has an unbeleivable knack of biting you on the bits you dont want to get bitten on! once more unto the breach!

 

[Slapshot]

Personally I'd wait to see how much the futures decide to climb out of hours.

 

[Racer]

SAN FRANCISCO (AFX) - Shares of Dell Inc (NASDAQ: DELL - news) . fell as much as 7% Thursday evening after the personal computer giant issued results that fell short of analysts' sales estimates for the both the just-ended and current quarters.
The Nasdaq-100 After Hours Indicator, which tracks the evening action of the technology-heavy index's leading shares, fell 6.51 points to 1594.14.

 

[kriesau]

Personally I'd wait to see how much the futures decide to climb out of hours.

Cash Futures down 20pts at 10.45pm

 

[Racer]

Cash Futures down 20pts at 10.45pm

You are dreaming, sorry this is not real....


I mean to say they always go up 50 after hours...
that is what we have go used to and expect.. all the orders have been put in place in anticipation of a big overnight gain whilst sleeping

 

[kriesau]

!! Oil at $66

 

[kriesau]

Dollar Blues !

Gold now up to $454. That represents a 5% increase over the past 2 weeks. Looks like a move out of the dollar into gold has begun.
Oil $66.10 at 9.50 this morning.
June trade deficit due today.

 

[orky]

Gold now up to $454. That represents a 5% increase over the past 2 weeks. Looks like a move out of the dollar into gold has begun.
Oil $66.10 at 9.50 this morning.
June trade deficit due today.

Does that information say anything to your about todays market?

Orky

 

[kriesau]

Dow Cash Futures still down 24pts this morning

 

[jonty69]

So what's the consensus on those deficit figures? Where is Mr Greenspan going to send us today, soaring towards 10800 or diving below 10500? Seems to me like this market has been pretty jumpy this week and ripe for that long mooted correction. Am hung out a little on a silly overnight short at 10605 at the moment and need to decide whether it's best to take the loss. Where do I go?