Where is the Dow & others heading in 2005?

[kriesau]

SOXX down 0.3% in the first 10 minutes. Nasdaq 100 on the way down too after gap up of 11 pts from last nights close. Today could be very interesting............................... !!!!

 

[FetteredChinos]

10,220..

with bells on.

beery lunch.


resolve lasted long..

Racer, gissa snog lol

hmm, might pull back to 10,110 (half days range from current high) and then motor north.

FC

 

[peterpr]

Phew.. glad I followed my instinct this morning...
the market said GET OUT OF SHORTS (sorry for shouting but that is what it said to me)

Got itchy finger wanting to put them back on though

What are you wearing in the meantime ? - and careful what you do with that finger too

 

[senyorqueso]

Thanks all for your comments/advice.

Rogue - what spread to get with your broker?

 

[peterpr]

Charlie says
"The Dow is down again to the very strong 10061 support level. Plenty of room above support for the inverted green triangle. To get to the latter we would have to break through the psychological 10000 level. It wouldn't take much to do that. Volumes again are average although we could see Sellers come back in on the COMPX if the index shows great weakness................Based upon what EWA seys we would expect a down day for at least half of Friday followed by a dump or a surprise U shaped day. However a lot of contrarian traders will be looking for a take-off during the first half hour and an up day, possibly a total recovery day, on Friday".

In other words it will either go up or down - pretty original stuff eh?

You takes yer pick............................!

Indeed you do - or you just watch the action and go with the flow

 

[kriesau]

10,220..

with bells on.

beery lunch.


resolve lasted long..

Racer, gissa snog lol

hmm, might pull back to 10,110 (half days range from current high) and then motor north.

FC

FC - are you long ? If so from where ? :?:

 

[FetteredChinos]

152 from yesterday..

been hard work so far!!!

 

[kriesau]

152 from yesterday..

been hard work so far!!!

Your long 1052 plays my short 10254.
Should be interesting

 

[senyorqueso]

Racer,

Would you mind explaining the Dowdaily xls file content?

Thanks,

SQ

 

[Racer]

Would you mind explaining the Dowdaily xls file content?

I took the prices quoted for daily dow (buy and sell).. and compared them to the actual dow.
They are the 3 lines on that file
So if you are looking at the Dow itself, you will find that it has to move a lot before you get in profit because of the spread, so you mustn't look for small gains.. because one move against you will be significant loss very quickly.. your stop loss will have to be much wider than the gains you make. So you have to make lots of little gains and then one loss will more than wipe it out.
Hope that explains it a bit?
If you are trading futures then that is different

 

[Slapshot]

Most of the early gains have been pulled back, where do we go from here? 10050 or 10150?

 

[FetteredChinos]

have a good weekend all..

have got to dash home to argue with British Gas..

im not sure how i should deal with the engineer..

im tempted by the Tony Martin approach (he says, lovingly polishing his gun)

as for the Dow..

not sure..due an up day arent we

fc

 

[Racer]

.....If... I was to go long (but I won't!) might bounce here soon if the bulls are running today

 

[senyorqueso]

Thanks Racer. Very interesting. It shows that if you buy on the way up and sell on the way down the spread is effectively double the 8 pt spread between the buy/sell price at any one time, as the sell price follows the index on the way up, and the buy price follows it on the way down. SB companies give you a 4 pt spread now on the dailies, so it's not quite so bad as the xl looks.

 

[Racer]

Oh 4 points now, well I did say it was some years ago that I did it!

 

[Racer]

Ah the bounce... they are getting sneaky those bulls.. wonder how strong they are though?

 

[Racer]

Oh grrrrr... I am very cross I went long.... arrrgghhhh, but it was only a leetul one and I can be a bull for a day LOL

 

[roguetrader]

Blistering open, internals all over the place, more bull / bear fighting. Handbags at five paces.

Thanks all for your comments/advice.

Rogue - what spread to get with your broker?

1 point spread on DOW e-mini. I prefer index tracking stocks myself.

 

[Racer]

Great... I had to go out for half an hour, put stops on .. while I was out stops triggered and now bouncing back up! At least I didn't lose any money on a long, that would have been terrible!

 

[rider]

if we breech 10105. upside could happen that could be a long shot.good luck.is friday always a down day.we will see.newbie