Where is the Dow & others heading in 2005?

[Racer]

WILMINGTON, Del. (Dow Jones)--DuPont (DD) expects to book charges totaling 42 cents a share in the third quarter to cover tax liabilities and repairs related to recent hurricanes, but the company anticipates earnings excluding those items to meet Wall Street estimates.

In a press release Thursday, the Delaware chemicals maker said it plans to take a charge of $115 million, or 10 cents a share, to cover costs associated with clean-up, repairs, lost inventory and business interruption caused by Hurricanes Katrina and Rita, which battered the Gulf Coast from Alabama to Texas.

The company also expects to take a charge of 32 cents a share to cover taxes on $9.4 billion in foreign earnings brought back to the U.S. The move takes advantage of a federal tax break for corporations that do business abroad, euphemistically known as the American Jobs Creation Act.

Excluding those items, DuPont said it expects quarterly per-share income to be in line with the 29-cent average estimate of analysts polled by Thomson First Call.

 

[Racer]

NEW YORK (Dow Jones)--Bail was set at $50 million on Wednesday for Phillip R. Bennett, president and chief executive of Refco Inc. (RFX), after he was arrested in connection with what prosecutors said was a scheme to hide millions of dollars of debt owed to Refco by a separate company he controlled.

 

[Racer]

After hours futures moving down again...

not that bullish if they are still doing that

 

[Racer]

1% box 3 reversal
0.5%box 3 reversal

 

[Col_Stiffler]

Hi Racer,

Was looking at those two P&F charts myself on Updata last night (I recently swicthed from Sharescope to Updata) - it seems a close below 10200 would be very significant. Interestingly, Updata gives a vertical count from the recent top for a downside target of 9800. Presumably though, the psychological effect of the round number 10000 would provide pretty serious support, wouldnt it? Has it, historically?

 

[Racer]

Round numbers always tend to have an effect and as 10K is a bit more 'rounder' :cheesy: than the others it seems to have more importance

 

[leovirgo]

Food for thought...

WASHINGTON (AFX) -- The United States now has two economies.
One of them suffered a one-two punch of the most destructive hurricanes in
U.S. history. The other one didn't.
One of them suffered the largest increase in consumer prices in 25 years. In
the other economy, core inflation remained as soft as a lullaby.
One of them saw retail sales fall short of expectations as auto sales
collapsed. In the other economy, sales excluding autos were up solidly.
One of the economies saw industrial output fall at the fastest pace in more
than 20 years. But if you exclude the impact of the hurricane and the strike
against Boeing, output was fine.
In one economy, the Federal Reserve is committed to raising interest rates
ever higher to prevent tight labor markets from fueling inflation. In the other
economy, consumer confidence is shaken while real wages are falling.

 

[RUDEBOY]

Racer, i'll go with you there, and it shows on the 'big' charts.

Skiracer, don't 'kid' yourself.

Skiracer. You really do know what i mean don't you.

 

[Racer]

That was a bit of a convenient time for markets data to go down today wasn't it..

all (as far as I know) spreadbetters had feed problems and wouldn' t allow online trading in the meantime the markets went up and triggered all those stops

 

[KnightUnit]

Yeah I had that with the speadbetter I was using. Luckily it went 30 points down then 60 points up from that all of a sudden. so I caught it on the down and sold with a 20 pip profit and didnt hit my stop and make a loss.

 

[counter_violent]

Yeah I had that with the speadbetter I was using. Luckily it went 30 points down then 60 points up from that all of a sudden. so I caught it on the down and sold with a 20 pip profit and didnt hit my stop and make a loss.

You will probably find , when next looking at your account , that the trade will have been voided and the necessary adjustment made.


C V

 

[KnightUnit]

I just checked now and it hasnt been voided, guess im lucky. I was learning to trade forex but tried the DOW and I dont know if its just me but it seems alot more easier to analysis than forex.

I have been making 40 - 60 pips a day through a month of analysis and looking and studying graphs and time patterns etc..then applying it to day trading this week.

 

[Racer]

A big problem with spreadbetters feeds today, so check your trades and stops over the weekend

 

[skiracer]

Skiracer. You really do know what i mean don't you.

I can only speak for myself and what I believe to be true. You don't know anything about me an I don't know anything about you except for what you have posted an I have read and visa versa. I disagreed with your statement and feel that it is better to not put the money on the table or to be in the markets if you don't know or are not for sure about the direction or what you are doing in the markets at that time.

One thing I never do is to kid myself or assume anything about anyone else. I usually let their words an actions speak for themselves. That almost always gets the job done. But I feel people should always be able to accept or be open to another individuals point or view even though it might differ from theirs. You never know when you might broaden your own horizons or get smarter from it. I see a lack of that in a large % of people much to their detriment. You can accept that or not in life. It's your life and time that you are spending an it is your choice.

I have been around the block several times in every direction an I do know what you mean. I was hoping that you knew what I meant.

 

[twiggytwo]

The DOW on Monday ?

Just my view, 10,246 down or 10,375 up ---- at the close.
anybody else have a view ?
regards to all
twiglet

 

[GKB]

#2 update

Hi all,

Just a quick one again. Last week I kept my longs and added more in during this week. I'm now 20 points of full exposure underwater from my original positions. During the week I've traded a few longs which have helped mitigate the loss.

It looks to me like the market manipulators / makers have pushed the Dow to an unsupportable extreme. Staying long on full exposure and I'll be buying a few rounds hopefully

Have a good weekend all. I'll be back in the chatroom on Monday ... be afraid .. be very afraid ...

Regards,

Graham

 

[Pat494]

I will give it a rest till Monday morning GMT.
Right now I'm off to St. Ives to have a look around the picture galleries.
Have a good weekend folks

 

[Racer]

"Smoothing Out Inflation
How can inflation be so low over the past few years if we see rising energy prices, ever-increasing medical costs and especially the cost of housing rising so dramatically? Today, for the first time we see inflation actually showing the results of rising energy costs, and the number is ugly. But it is not as ugly as it could be. This week we look at how the Consumer Price Index is calculated. "

 

[rustic1]

I am having problems with CMC last night. I opened a trade 10203 then closed it at 10250 my account was in profit & flat. I then looked 20 mins later and a trade appeard short. I tried to contact them through the chat window, telephone & Email. Telling them I have not placed anymore trades No results. Today I get an email saying that they cancelled the origional trade due to bad price so instead of closing out my position I opened a new one. They did not tell me that when they took my order & my ticket turned green.No one tried to contact me at all to explain the problem

I have emailed them again today has anyone else had any experience like this & any ideas how to deal with it best.

Thanks

rustic

 

[Racer]

I am having problems with CMC last night. I opened a trade 10203 then closed it at 10250 my account was in profit & flat. I then looked 20 mins later and a trade appeard short. I tried to contact them through the chat window, telephone & Email. Telling them I have not placed anymore trades No results. Today I get an email saying that they cancelled the origional trade due to bad price so instead of closing out my position I opened a new one. They did not tell me that when they took my order & my ticket turned green.No one tried to contact me at all to explain the problem

I have emailed them again today has anyone else had any experience like this & any ideas how to deal with it best.

Thanks

rustic

There was a lot of problems with data feeds last night from about 19:45 to close at 21:00 UK time so if it happened during this time you are not alone and it is not your fault in my opinion. According to some feeds the Dow dropped about 60 points when if fact it didn't move at all or actually went up.
several spreadbet firms turned off internet trading and as a consequence must have been overloaded with phone calls.
I would suggest persisting in your effort and comment on the problems with their feeds but whether you will have any luck is difficult to say. Personally I would never use CMC.