Pat494
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dc2000 said:
Nope still short. I am taking the longer positional view. Lucky I moved my stop ( actually cancelled it ) or that would have been triggered yet again. A 50 point swing by the SB s wipe out many if not most regularly.
Should invest by buying some shares in a SB.
macbonzo
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Just wondering what sort of short term influence GM going into Chapter 11 would have on the Dow? It looks pretty much inevitable now. Question is, how much have the market factored this in? It is this sort of thing that could stop this rally dead in its tracks.
I think if the Dow cannot get a comfortable close today above 10700, we will be revisiting 10600 very soon.
I think if the Dow cannot get a comfortable close today above 10700, we will be revisiting 10600 very soon.
Pat494
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macbonzo said:
I think similiar US and European companies should be quaking with fear ! It's too late for Rover etc. and maybe GM. There would have to be massive salary cuts ( especially at the top ) job cuts etc, to fend off the increasing challenge of Far East countries. Something that should have started decades ago and now be in place. Too many greedy time-servers ( slugs ) at the top imho.
Frugi,
Here you go ..latest picture following the last where I think you thought stranglation by H&S was imminent on gold...LOL ...when is an H& S not and an H&S ..LOL...patterns you've got to love them haven't you ..fundamentally however the picture is different.
http://www.futuresource.com/charts/charts.jsp?s=DJ&o=GCZ05&a=D&z=650x450&d=medium&b=LINE&st=
Here you go ..latest picture following the last where I think you thought stranglation by H&S was imminent on gold...LOL ...when is an H& S not and an H&S ..LOL...patterns you've got to love them haven't you ..fundamentally however the picture is different.
http://www.futuresource.com/charts/charts.jsp?s=DJ&o=GCZ05&a=D&z=650x450&d=medium&b=LINE&st=
macbonzo
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The Dow is certainly under pressure at the moment. The funny thing is, 20 of its constituents are up and only 8 are down. Of the 8 that are down only MO is down more than 1%. That said, the S&P is motoring. I still think 10600 beckons, but we shall see.
Dow & GM
Hi , saw your post 10 mins ago at 6.45pm today funny this , at 11.00am today I had a telephone conversation with a friend in London about the very same thing !
GM going into Chapter 11 and if so this being a possible catalyst for the stopping of the current Bull trend and the start of a possible Bear market .
The GM accounts for 40 points on the Dow in a normal day up or down I think .
Also we talked about the Dow needing to close above 10,719 for the upward movement to continue and a possible retracement down to 10,486 if it cannot hold up----- before another run up to test the 10,719 again .
Best Regards
macbonzo said:
Hi , saw your post 10 mins ago at 6.45pm today funny this , at 11.00am today I had a telephone conversation with a friend in London about the very same thing !
GM going into Chapter 11 and if so this being a possible catalyst for the stopping of the current Bull trend and the start of a possible Bear market .
The GM accounts for 40 points on the Dow in a normal day up or down I think .
Also we talked about the Dow needing to close above 10,719 for the upward movement to continue and a possible retracement down to 10,486 if it cannot hold up----- before another run up to test the 10,719 again .
Best Regards
if we dont get above 10750 in the coming days i think we could be looking at a market top for the year.everything im looking at at the moment is pointing to a big downturn if this level isnt breached.there are way too many people screaming "xmas rally" at the same time,and the comfort zone has been getting well and truly filled to capacity the last week or so.cautions gonna be my middle name for the next week. im going to watch a breakout of either 10600 or 10750.if we do break below 10600, i will be looking to nail someting in the region of 10475.macbonzo said:
sorry twiggy just read your post, you've basically covered what i was trying to say 10 minutes ago. and so say all of us.twiggytwo said:Hi , saw your post 10 mins ago at 6.45pm today funny this , at 11.00am today I had a telephone conversation with a friend in London about the very same thing !
GM going into Chapter 11 and if so this being a possible catalyst for the stopping of the current Bull trend and the start of a possible Bear market .
The GM accounts for 40 points on the Dow in a normal day up or down I think .
Also we talked about the Dow needing to close above 10,719 for the upward movement to continue and a possible retracement down to 10,486 if it cannot hold up----- before another run up to test the 10,719 again .
Best Regards
