Dow 2006

[FetteredChinos]

1st trading day of the month chaps, 70%+ chance of it finishing up, and sizeably so.

futures are certainly indicating something of a bullish day.

good luck, all

fc

 

[htp80]

1st trading day of the month chaps, 70%+ chance of it finishing up, and sizeably so.

futures are certainly indicating something of a bullish day.

good luck, all

fc

indeed good luck. I'm certainly looking forward to the day ahead....

 

[Pat494]

Good to see you back JillyB on THE thread. Hope the personal problems now resolved ?

 

[Pat494]

How about a run up to about 11190 ish before falling back below 11136 ish ??
Just to get the ball rolling !!!!

 

[FetteredChinos]

thats what im thinking.. trendline is circa 11,250 ish.. i reckon a poke above that level and then down for the rest of the day..

data due at 3pm aujourd'hui, could well signal a major reversal if we are on that aforementioned trendline.

fc

 

[kriesau]

Oil has just poked up above $67
Gold up $4.20 to $586
GM & MSFT both up over 1% in the pre-market.

 

[FetteredChinos]

trying a short here, 11,183, stop 11,230

 

[FetteredChinos]

well that was a swift -50..

looking to short again on a breach of 11,200

 

[JillyB]

trying a short here, 11,183, stop 11,230

Isn't going short against what you said in an earlier post about the first day of the month being a positive day?

 

[kriesau]

Very strong open with a 125pt rise to 11234 in the first hour, led by Caterpillar and Alcoa !
Can it breach 11240 and look to retest 11300 or will it turn down from here !

 

[FetteredChinos]

Isn't going short against what you said in an earlier post about the first day of the month being a positive day?

yup, but we were already 80pts to the good, and getting close to the upper trendline..

thought a short was a percentage play..

having said that, it is now stalling and looking to drop..

 

[JillyB]

yup, but we were already 80pts to the good, and getting close to the upper trendline..

thought a short was a percentage play..

having said that, it is now stalling and looking to drop..

It's still making higher highs though - I'm not sure it's quite finished with yet.
Even so I'm out of my long - nicely in profit for today.

I'm expecting it may consolidate over lunchtime then have a reversal in the afternoon session.
I'll keep watching for this - possibly 6-7pm UK time.

 

[htp80]

It's still making higher highs though - I'm not sure it's quite finished with yet.
Even so I'm out of my long - nicely in profit for today.

I'm expecting it may consolidate over lunchtime then have a reversal in the afternoon session.
I'll keep watching for this - possibly 6-7pm UK time.

my thoughts exactly. a good profitable 60 minutes. keep an eye out as you say for a reversal later on.

FC well done for catching that short.

htp80.

 

[JillyB]

Having said that, my 1 hour CMC chart has the 200MA at 11,227 and it does appear to be struggling with this area.

Perhaps we could be in for a drop?
But my trading plan says no, not till after lunch - and I MUST TRADE MY PLAN.
(I have a yellow sticky on the wall which tells me this - just in case I forget!)

 

[kriesau]

Oil still moving up - now $67.60
ISM down 1.5 against an expected rise of 1.
Could have peaked and started to turn down now.
Looking for a good short entry point.

 

[Racer]

better buy more shares, manufacturing growth slows...

-- Factory activity in the United States decelerated slightly in March, the Institute for Supply Management reported Monday. The ISM index fell to 55.2% in March from 56.7% in February. The decline was unexpected. The consensus forecast of estimates collected by Marketwatch was for the index to rise to 57.3%. Readings above 50 indicate expansion. New orders fell to 58.4% in March from 61.9% in February. The employment index fell to 52.5% from 55.0%. The price index rose to 66.5% from 62.5%. Inventories declined slightly in March, but the backlog of orders was higher

 

[kriesau]

Speculative short at 11218 with a stop at 11252.

 

[macbonzo]

As FC pointed out on Friday, the first day of the month /quarter, can be a very profitable if you go long at the previous close.

It looks like a quite a lot of money hit the market this morning. That said, NYMEX is up at $67.55 and really should temper gains. We will see what the afternoon brings.

 

[mombasa]

short from 11,115. if this holds above the upper trendline circa 11,230, its gonna be a bull flag on the hourly.

You all know what happened last time .

Oh my god !!1

 

[kriesau]

short from 11,115. if this holds above the upper trendline circa 11,230, its gonna be a bull flag on the hourly.

You all know what happened last time .

Oh my god !!1

What did happen last time ?

Well thats my speculative short stopped out for today

Caterpillar up over 4% today - now 50% up over the last 4 months !