Dow 2006

[leovirgo]

Futures like this news!!!

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WASHINGTON (AP) -- Hiring slowed in July as employers added just 113,000 new jobs, propelling the unemployment rate to a five-month high of 4.8 percent and providing fresh evidence that companies are growing cautious amid high energy prices. Wages grew solidly.

The latest snapshot Friday from the Labor Department added to the evidence from a variety of economic barometers that the economy is slowing and inflation is rising. Those conflicting forces present the Federal Reserve with a dilemma over interest rates when policymakers meet next week.
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[Pat494]

Guess what the excuse was yesterday with fins ?
They had to evacuate their building ??
They certainly have some imaginative excuses !

I was having a look at Twowayfutures for an alternative. Unfortunately they need a $5000 deposit minimum ! Pity it's so large because the spread on Dow futures is only 1 point .

 

[passive]

i was working under the hypothesis that strong hands were long into multi-day highs, with scaling out on the news-driven rally.. after open, the rally looked weaker and suggested to me that they may had scaled out substantially to prepare for some shaking out.

 

[Pat494]

I was having a look at Twowayfutures for an alternative. Unfortunately they need a $5000 deposit minimum ! Pity it's so large because the spread on Dow futures is only 1 point .

Their minimum is $5 per point bet on futures and they dont do Dow cash ??
Their man suggested twowayspreads.com £100 deposit and 50p minimum bet.

 

[JillyB]

Their minimum is $5 per point bet on futures and they dont do Dow cash ??
Their man suggested twowayspreads.com £100 deposit and 50p minimum bet.

I'm with CMC. Despite what people say I've found them really good and their charting package is excellent. 4 point spread on Dow cash and £1,000 min deposit - and £1 per point min. trade

 

[dcarrigan]

I'm with CMC. Despite what people say I've found them really good and their charting package is excellent. 4 point spread on Dow cash and £1,000 min deposit - and £1 per point min. trade

and i bet there still trading now, ? i carnt trade as ecbot is down.

 

[leovirgo]

don't know what will happen to my YM position and stops. my first time to see this kind of situation. Anybody knows how prices will be fixed once it resumes trading?

 

[frugi]

My first time too but I understand it thus -

All resting day orders will have been cancelled, e.g limits / stops. Any open positions before the halt will still be open.
According to another site eCBOT will reopen at 12:00 CT (18:00 over here) and reflect current Dow price.
I recently hedged a short with DIA hope others managed to offset any postions somewhere if they wanted.

 

[TraderAli]

I had placed a limit buy order at 11,334 and had sent a cancellation requst just as this happened - seems like that my order did not get cancelled as I can still see it in 'Pending Orders' , I contacted the IB order desk for help but they told me that they cannot do anything as there is a problem at the ECBOT Exchange- Looking at the market its now trading at 11, 276 - As being a scalper this makes me very worrying that I cannot do anything to resolve this issue.. ofcourse if my order was executed I am in big loss.

For updates see - http://status.interactivebrokers.net/cgi-bin/bb_status.pl

Last update -
To ECBOT Traders:
ECBOT is currently halted due to technical problems at the exchange.

[Mesg Id: 29050]

 

[TraderAli]

Update: To ECBOT Traders , Created: 2006/08/04 12:44
As mentioned by Frugi - 1800hrs here.

The ECBOT will re-open for trading at 1300 EST.

[Mesg Id: 29050]

 

[frugi]

I can't be sure but it should have been cancelled if it wasn't filled before the halt.

 

[dcarrigan]

don't know what will happen to my YM position and stops. my first time to see this kind of situation. Anybody knows how prices will be fixed once it resumes trading?

when this has happened before it took my stop off. i have connection again but its not right 9 spread. stuck at 11315

 

[TraderAli]

I can't be sure but it should have been cancelled if it wasn't filled before the halt.

Thanks Frugi, I am hoping this is true - fingers crossed !

 

[TraderAli]

UPDATE -

To ECBOT Traders:
ECBOT is once again available for trading. Please note: ECBOT has purged all DAY orders submitted before 10:30 ET. GTC orders submitted before 10:30 ET remain active.

[Mesg Id: 29050]

 

[TraderAli]

Thank goodness, my limit order was cancelled by ECBOT
Now I can relax....................shewwww

 

[leovirgo]

I was stuck with a long and was stopped out when it resumed. So,, quickly changed my bias and shorted it. Just recovered the loss + interest. Now flat. It looks bearish on daily chart, but the same thing happened on 27th followed by a huge rise.

 

[rols]

Oddly enough I switched to trading the DAX for this afternoons session. First time in weeks I haven't had the YM up on the screen...

I had this funny feeling......

 

[leovirgo]

Oddly enough I switched to trading the DAX for this afternoons session. First time in weeks I haven't had the YM up on the screen...

I had this funny feeling......

Good for you.

Yesterday, Dow opened much lower, then regained all losses and closed higher.

Today, it's the opposite. The U-turns were so swift which I have never experienced in my trading career. ( I just started trading fulltime last August... :cheesy: )

 

[Chocolate]

DOW - which way?

I'm curious to know how people see the markets now. Has the DOW the legs to get up to 11400 before it falls again? Any opinions on the effect of Tuesday's possible rate hike?

I think the DOW will tank soon, but holiday trading is strange so it might still climb for another week or two. It'll surely happen before September though, because by then it would be too late... .

All thoughts and opinions welcome!

 

[ammo]

Oddly enough I switched to trading the DAX for this afternoons session. First time in weeks I haven't had the YM up on the screen...

I had this funny feeling......

meekly put obiwan