Where is the Dow & others heading in 2005?

[Slapshot]

Well well, first test of 10350 and most of yesterdays gains pulled back.

 

[Minder]

Dow 200d exp ma is around the 10465 mark

Dow closed at 10463 yesterday

Oil going back up, futures going down, so if a rejection of this key level today then targets back open to the downside, on the other hand if it breaks above then bulls start smilin' again

Those FOMC minutes might kick it one way or t'other

Good call !

I have support at 10369 area from the end of January 05 when thw bounce eventually found 10943. Below that 10369 support level is a nice gap down to 10270 then freefall to 10000.

Anyone any thoughts ?

 

[karmit]

well... with lack of good news, the housing bubble, trade deficit, high oil prices, iran/iraq issues
it can mean only freefall!

on the other hand.. there is PPT )

 

[josbarr]

If not posted already this is a great site for resources.
Pivots, Strategies, Economic Events


http://www.deltat1.com/

 

[kriesau]

well... with lack of good news, the housing bubble, trade deficit, high oil prices, iran/iraq issues
it can mean only freefall!

on the other hand.. there is PPT )

Mmmm...the FOMC Minutes were pretty neutral. Happy about core inflation but puzzled why increased energy costs have not so far affected inflation. Don't think that FOMC minutes will have any material positive or negative effect on the market.

Meanwhile oil back up at $68.75.

 

[karmit]

Folks - need advice!
just completed a crude oil trade on igindex... got a tidy profit for oil - it was fluctuating a lot..
after 15min a trader called up from igindex and said that they are going to deduct the
profit from the trade from my account since the prices were incorrectly typed!!
what?!!

 

[kriesau]

Folks - need advice!
just completed a crude oil trade on igindex... got a tidy profit for oil - it was fluctuating a lot..
after 15min a trader called up from igindex and said that they are going to deduct the
profit from the trade from my account since the prices were incorrectly typed!!
what?!!

They should honour the prices quoted and the trade that they executed. It's their problem not yours !

 

[karmit]

seems there is some section called "palpable errors" on the website... does it mean that they can get away with mistakes - or worse - cover up hedging mistakes on clients expense!

 

[Racer]

Fell but they caught it..

oh the bells, the bells....

 

[Racer]

Folks - need advice!
just completed a crude oil trade on igindex... got a tidy profit for oil - it was fluctuating a lot..
after 15min a trader called up from igindex and said that they are going to deduct the
profit from the trade from my account since the prices were incorrectly typed!!
what?!!

They make the market and the rules.

Mind you sometimes I have had things corrected in my favour by spreadbet companies!

 

[kriesau]

seems there is some section called "palpable errors" on the website... does it mean that they can get away with mistakes - or worse - cover up hedging mistakes on clients expense!

They must accept responsibilty for the prices that they offer and the trade executions that they make. If they based them on incorrect information that is their problem not yours. It is up to them to check the veracity of their data source.

 

[karmit]

They make the market and the rules.

Mind you sometimes I have had things corrected in my favour by spreadbet companies!

that must have felt good

 

[kriesau]

Mind you sometimes I have had things corrected in my favour by spreadbet companies!

Me too !

 

[kriesau]

Oil back up to $69.87

 

[leovirgo]

Dow ended 50 points down. But it shows bullish divergence in hourly chart. Could it open high and then come down later tomorrow? Any help?

 

[Racer]

Good call !

I have support at 10369 area from the end of January 05 when thw bounce eventually found 10943. Below that 10369 support level is a nice gap down to 10270 then freefall to 10000.

Anyone any thoughts ?

I was busy a lot of today and missed a lot of the action, and I see it bounced at the typical point of 10350

Tomorrow or the next few days anyway will be important the dow is now potentially entering a new downtrend and 10000 indeed on the cards, but not conclusive yet. I am not talking about the recent price move down, but a trend that could continue down for some time.

So watching and waiting

 

[Minder]

seems there is some section called "palpable errors" on the website... does it mean that they can get away with mistakes - or worse - cover up hedging mistakes on clients expense!

I understand that IG use Reuters for their prices - check with Reuters for any discrepancy with the price IG gave you. Threaten to close your account, that should get you some attention.

 

[karmit]

A retest of 10500 looks most probable tomorrow.. unless "katrina analysts" scare the living daylights with their "insight" - heard one comedy (IMO) comment today from an "analyst".. something like this -

"the damage from the storm could be repaired in 2 days or 2 months... "

ha! ha! thank you sir! that was a definitive "analysis" of the situation.

btw... completely p***ed off with IGindex today.... so the occasion calls for a beer

have a good trading day all tomorrow!!

cheers,
karmit

 

[Racer]

daily Dow futures falling away now on IG home page 10382-88

 

[kriesau]

Oil at $70.51 at 10.00
Natural Gas prices up to $12.20 - a new record
Katerina damage could top $25bn
Dow Cash Futures down 16pts at 10395 - 10399