Dow 2006

[htp80]

grrr, b/o failed.. out for -10...

speculative short half size from 11,228

are you still short? if so where are you looking to get out?

 

[FetteredChinos]

looking to exit half very soon.. will re-enter should we break 11,180.

failed to break out of the hourly trendline convincingly and has retraced.. as a result, still bearish..

we are due a big trending day at some point..

hopefully today.

fc

 

[FetteredChinos]

crumbs, happened quickly.. out at 11199 for +29, now short some more from 11,190..

 

[htp80]

looking to exit half very soon.. will re-enter should we break 11,180.

failed to break out of the hourly trendline convincingly and has retraced.. as a result, still bearish..

we are due a big trending day at some point..

hopefully today.

fc

i'm in. short on 11218. fast approaching that 11180....

 

[FetteredChinos]

and we're at it now...

getting ready to short at full power... next stop 11,140..

 

[FetteredChinos]

crucial trendline here.. will it hold the onslaught?

 

[FetteredChinos]

that'll be a no then.. and capital spreads wilts under the pressure.. thank heaven for resting orders..

 

[htp80]

that'll be a no then.. and capital spreads wilts under the pressure.. thank heaven for resting orders..

slowed down a bit.

im out. 11160. back in if it gets close to that 11140

 

[FetteredChinos]

yeah, taking a pause...

wide range days have a range of approx 150 points, others in the 70-80 range.. if it goes past 11,150-40, then i forsee an attempt on 11,100 tonight...

 

[macbonzo]

I don't normally go in for the "they did this, they did that", but the open was a bull trap. Clearly a few of the bigger players knew that if they took the Dow through 11240 it would trip quite a few longs. I got short on the S&P futures at 1316.25 and got stopped out at 1318.25. I got short again at 1216.75 at 16.18 and predictably we got a reversal. That said, we have fallen rather futher and faster than I would have anticipated. I am now out the market.

It is worth pointing out that $TNX yield is now 4.85%. It looks as if this could go up to 5%

 

[macbonzo]

slowed down a bit.

im out. 11160. back in if it gets close to that 11140

Nice trading again. You may become as legendary as FC.

 

[FetteredChinos]

lol easy MacB!!

about to go in short again... anticipating an attempt on 11,150 again to try to squeeze out a few extra points..

 

[Racer]

ROFL at this headline

-- U.S. stocks turned lower Thursday as a sell-off in bonds sent long-term interest rates to their highest level in nearly two years, sparking concern the higher cost of borrowing could hurt economic growth.


and the market went up yesterday probably according to the media because .... investors took the opportunity to snap up shares that were oversold the previous day on optimism that earnings and economic growth was promising

 

[frugi]

Yes looks like a bull trap to me, altghough the top looked a bit more logical on the 5 min. Hit the top of a channel then printed a bearish engulfing candle.

Pivot points also useful at the top and bottom (so far) today.

Also note the poor breadth compared to yesterday - bit of a heads up that the up move was iffy.

Wonder if it'll get back to 260-270 (futs) or plunge further to 11170 from here.

 

[htp80]

lol easy MacB!!

about to go in short again... anticipating an attempt on 11,150 again to try to squeeze out a few extra points..

MacB - cheers

Don't think the Dow knows what to do....think its still shocked at its 90 point drop from the highs. I'll be an observer for the time being.

htp80

 

[FetteredChinos]

agreed.. short order didnt get triggered..

have bracket orders to short at 55 and long at 85... will see what gets hit first..

fc

 

[macbonzo]

Quite a disparity between the indices: Dow -0.4%, S&P flat and Nasdaq slightly up.

Financials are getting hammered at the moment. I guess they've finally wakened up to the increased borrowing costs. This is going to feed through to the housing market soon.


The open was quite funny. I don't think that I have seen a market reverse so rapidly without any data to knock it down. The gains seemed to evaporate faster than snow off a dyke

 

[macbonzo]

OK, Let me summarise a few things:

Gold at multi year highs
$TNX yields at multi year highs
Crude nearly $67 pb

Or is it different this time?

I'll tell you something, I don't fancy being long the market over the weekend.

 

[FetteredChinos]

OK, Let me summarise a few things:

Gold at multi year highs
$TNX yields at multi year highs
Crude nearly $67 pb

Or is it different this time?

I'll tell you something, I don't fancy being long the market over the weekend.

hmm, i dunno, on the 1st trading day of each month, the Dow close up approx 75% of the time, average 50pts per day.. the best of any day of the month..

might be worth thinking about.

fc

 

[macbonzo]

hmm, i dunno, on the 1st trading day of each month, the Dow close up approx 75% of the time, average 50pts per day.. the best of any day of the month..

might be worth thinking about.

fc

Oh yes that is possible. But what happens if Iran decide they are so pissed off with they way they are being treated by the Security Council and they "discuss" the possibility of withdrawing their crude from the market for a "limited" time.
Nymex hits $85, futures limits down.

You are more likely to be right than me, but I don't think it is quite as absurd as most people.

And no, I haven't had an expresso since 12.00