Where is the Dow & others heading in 2005?

[RUDEBOY]

User, its a right old barrel of monkeys this one, matey!

 

[User]

Rudeboy I still feel we have a good chance of touching 10550 before the session ends.

I suggested that we could see 10500-600 when we were under 10400. We have moved higher but I feel that the upside potential is limited at this moment in time.

We are currently in a range of around 10495 to 10515 and have been for the past one and half hours. We should see a breakout either way which could lead us to 10450 or 10550.

Lets see how it develops...

 

[twiggytwo]

Rudeboy I still feel we have a good chance of touching 10550 before the session ends.

I suggested that we could see 10500-600 when we were under 10400. We have moved higher but I feel that the upside potential is limited at this moment in time.

We are currently in a range of around 10495 to 10515 and have been for the past one and half hours. We should see a breakout either way which could lead us to 10450 or 10550.

Lets see how it develops...

Hi you may be correct with the 10550 have a look at W%R from 5.50 pm tonight if it stays on this upgrade it can close tonight at 10540 regards

 

[counter_violent]

Perfect break of the isometric triang ....and in the direction of the recent down move ....text book stuff really 470 looks assured

 

[roguetrader]

Nice down day, but a struggle, threatening to come in close to the lowest volumeday of the year. Seems there is little conviction in this market in any direction at the moment.

That's meflat, this sort of volume makes me nervous Have a good weekend all

 

[orky]

Nice down day, but a struggle, threatening to come in close to the lowest volumeday of the year. Seems there is little conviction in this market in any direction at the moment.

That's meflat, this sort of volume makes me nervous Have a good weekend all

Rogue Trader

can you advise where you get your volume data from. I use sierra chart with My Track. I am sue I can get it there but can not find it

Regards

 

[roguetrader]

Rogue Trader

can you advise where you get your volume data from. I use sierra chart with My Track. I am sue I can get it there but can not find it

Regards

I use esignal

Sorry may have misunderstood that, try symbol $tvol, and $tvolq

 

[gmca686]

Joules,
Don't you surf in the nude? Why do you need shorts in Oz?

 

[tradesmart]

Shorts on

Well, that was the clear message at the start of the session when the indexes baulked at resistance, but what comes next can be difficult to answer.......we know now....!

Oil is down somewhat.....but.......

U.S. stocks fell in the wake of a series of profit warnings

Another brick in the 'wall of worry' and who wants to hold over the weekend with all those "Presidents, Prime ministers and Kings" gathered in Rome......?

Not me.......

 

[aspex]

I am ignoring any technical analysis here. Q1 results will overshadow the market for the next month, irrespective of Oil etc.
My Nasdaq short has just gone back into the money and I see no reason for any change for a while yet.

 

[counter_violent]

I am ignoring any technical analysis here. Q1 results will overshadow the market for the next month, irrespective of Oil etc.


Why ignore the technicals if they back up your fundamentals ?

 

[aspex]

c-v,
Not really saying that I am ignoring.
The fundamentals of Q1 will make 'technicals' irrelevant (short term only, of course)
Any trading I may do is following swing so it is always days/weeks rather than short term

 

[TheBramble]

10459 is a very real expectation by week end.

http://www.trade2win.com/boards/showpost.php?p=167163&postcount=1328

Close 10,461.34

Low (on final bar) 10,460.90

Is it OK if I crow???

 

[SOCRATES]

Your talking textbook stuff here!

Let me just put your textbook notion into context. Your saying the last three days the Dow has risen and this has been on low volume which according to you is due to stock shortage? So what is the reason for this stock shortage? Stock shortage after majority of the big boys have been dumping from 10900 to 10400?

Its all down to interpretation: Another trader may think that the market tested solid support at 10400. We've moved higher and the low volume is due to traders being hesitant and scared if you like and could be waiting for confirmation of buying.

I have just come in. I have been away all day. Here is the textbook stuff that you say in your post above that I talk :~

I said in my post on this thread, number 1341 yesterday, that the Dow had a cap at between 10500 and 10520.

Yesterday's rises were attributable to momentum driven price action and stock shortage anomalies.

You disagreed with me and reasoned the market was likely to go higher.

Today, these two conditions I define in the previous sentence having been quietly resolved, the Dow opens gapped down, lifts, does not break the high of yesterday and begins a steady controlled descent and closes on the very lowest low of the day, at 10461, down nearly 85 points from last night's close, and not up.

Interestingly, all afternoon the Dow refused to break 10520 to the upside except for one stab that then collapsed.

I have promised Chartman not to predict. This is why my comments are guarded but I make my drift patently obvious, but of course you are too busy contradicting to percieve this.

Kind Regards As Usual.

 

[mpjordan]

Hi Socrates
This is the only thread i follow on this site, its really interesting to see peoples views and positions. Its all done in an informative and freindly way.
User started the thread off, and right or wrong I always read his contributions with interest. and they stimulate debate. I think other people must as well, as when user went quiet recently, so did the thread.
So you had an opposing view and yesterday you were right, you wont always be. Theres room for opposing views thats what makes a market, why the aggressive tone?
Mj

 

[peterpr]

There is no discernable, quantifiable, data-backed evidence that oil is a correllative mover of or adjunct too US equities. The issue of oil having an inverse reltionship to equities is complete bogus non-sense.

Markets don't need discernible, quantifiable, data-backed evidence. They run on fear & greed. Anyone who thinks otherwise is unlikely to make a success of trading them. Your appeals to rationality are misplaced - not to say naive.

For those that rely on or give creedence to the oil speculation and its blue sky limit in price I say stop being part of the fear factor. There is no accounting fundamental reason for oil to be at its present price.

Have you never heard of peak oil? There is plenty of reason. It's the political establishment and its client economic & market cheerleaders that would have you believe otherwise. Google 'Peak oil', bring an open mind to the subject, read a cross-section of the references and then try and tell this list that there isn't a looming and deadly serious supply/demand imbalance

The whole speculation is just another widget for traders to bollox on about. ( I am being frank enough arent I ?)

Yes - whilst making a considerable contributing to 'bolloxing on' about it.

 

[Racer]

GM and AIG are nice anchors on the Dow with their related news, have a look at their charts
PFE probs with Bextra again

 

[Pat494]

Much enjoyed this thread over the last week - the repartee, humour and analysis of the current situation.
Easily the most entertaining
Thanks
P.S. Bramble ( yes go-on mate have a good crow you got it right on )

 

[RUDEBOY]

Just one to pick Brambles brain? If the market was quantifiable in hindsight, could price be subcatorgorised, i.e. directional price quantity and static price quantity. Would x (unknown) apply to directional price? If so could 'x' be transposed to give market direction? Just a thought, Bramble. RB.

 

[RUDEBOY]

I'll answer for you Brambs. The answer is no. How can an unknown be transposed into an ever changing equation? Therefore, where are signals and indicators formed? They are formed from static prices, this is why they are not always true to form, they are formed on hindsight. Hope i told you something you already know, if not, it would all be in vain, wouldn't it.