Where is the Dow & others heading in 2005?

[fudgestain]

.. Do you feel that you have always got to be in the market no matter what?

Interesting question this because it cuts to the chase.

If a market, say the Dow, offers usually a 50 point+ range daily and often 80+ points then, yes, trade each day.

There are zillions of posts about waiting for this or that number, level or circumstance. Quite frankly all that is really about jacking around and not getting real; certainly if you don't know what you are doing (the most frequent condition) stay out of the market and better still go away and forget about markets altogether.

No one but no one acquaints people on trading BB's with reality; the Holy Grail is the Holy Grail because so few ever get to it .. may be one or two.

 

[Racer]

Interesting question this because it cuts to the chase.

If a market, say the Dow, offers usually a 50 point+ range daily and often 80+ points then, yes, trade each day.

There are zillions of posts about waiting for this or that number, level or circumstance. Quite frankly it is really about jacking around and not getting real; certainly if you don't know what you are doing (the most frequent condition) stay out of the market and better still go away and forget about markets altogether.

No one but no one acquaints people on trading BB's with reality; the Holy Grail is the Holy Grail because so few ever get to it .. may be one or two.

But that depends on the sort of trader you are, not everyone is a daytrader.
To trade less than a 50 point range you need an account that gives you a small spread. A lot of people will not have that, if they have a spread bet account then the spread is wide, it will be difficult to pick the 'perfect' entry and exit and the spreadbet companies move the spread around as well so you are likely to get very little of that 50 point range. So it is far better for that sort of trader to stay out of the market because of the high risk

 

[kriesau]

Take it easy Mr market commentator. There are always short term, long term, any term so-called support or resistance levels and lines littering charts .. if you believed all of them it would be like looking at a railway marshalling yard.

Really - well thanks for pointing that out !

By all means sell at support levels and buy at resistance levels .. take your choice from the wide variety available.

I'm truly gratified for your absolution to pursue that course :!:

 

[spread master]

looking to get going on some dow spread trading. (not done Dow before but quite travelled on UK stuff.) Been looking at charts for years and just started looking at analyst-online this week which seems pretty good. Any other good places to scavenge good info on dow and Tbonds that actually calls it as they see it?

 

[mickandpete]

On here
Trading the SPX essential viewing IMO

 

[Pat494]

Report just out - that human brain sizes are getting bigger

Followed by report of mass buying of guns and ammo in Baton Rouge area ????

 

[macbonzo]

Report just out - that human brain sizes are getting bigger

Followed by report of mass buying of guns and ammo in Baton Rouge area ????

And most of them are trading the Dow.

 

[Pat494]

You might think they would be investing in building materials etc

 

[Racer]

Dax had another weak attempt to stay over 5000 and failed, but half an hour to go yet to close

 

[Pat494]

Topping out

Probably wrong but I think it may be near the afternoon top ?
Any opinions ?

 

[Minder]

Probably wrong but I think it may be near the afternoon top ?
Any opinions ?

I hope you are right. I'm 20 points the wrong side of a short.

 

[Racer]

'Major averages now trading near their best levels of the session, getting a lift as oil prices ($64.70/bbl +$0.21) hit session lows and unleaded gas futures ($1.99/gal -$0.04) turn negative, perhaps on further analysis of the IEA cutting its oil demand forecast for 2005 by 250K bpd'

So that is why XOM is second highest gainer on the Dow then eh? up 2.15%??

 

[Pat494]

I hope you are right. I'm 20 points the wrong side of a short.

Sorry wrong again !
I would bet against myself if I could. Lucky no quick and positive replies so no action.
According to Bloomberg ( gorgeous crumpet ) there is a mountain of cash just waiting to jump into the market

 

[Racer]

Sorry wrong again !
I would bet against myself if I could. Lucky no quick and positive replies so no action.
According to Bloomberg ( gorgeous crumpet ) there is a mountain of cash just waiting to jump into the market

I thought the Fed had run out of money?

oh, forgot they have a legal printing press and don't need to back it up with anything

 

[kriesau]

I thought the Fed had run out of money?

oh, forgot they have a legal printing press and don't need to back it up with anything

Trouble with you Racer is that you're just an old fashioned cynic

http://www.volvoclub.org.uk/dc/user_files/1193.jpg

 

[Pat494]

I know I'm repeating myself but maybe now ??

 

[macbonzo]

Something that puzzles me is, why is the price of gold $453 per troy ounce? Surely somebody has got it wrong. In fact if you look at raw materials as a whole they are all steaming upwards.

My feeling is that the US is going to be in for a shock. There is no chance rates not going up at the next FOMC meeting because there are plenty of inflationary pressures in the economy.

It reminds me of those cartoons where someone runs off a cliff and keeps running on thin air, then plunges into the abyss.

 

[Racer]

Me a cynic? No, just stating the ....... obvious!

 

[Racer]

Something that puzzles me is, why is the price of gold $453 per troy ounce? Surely somebody has got it wrong. In fact if you look at raw materials as a whole they are all steaming upwards.

My feeling is that the US is going to be in for a shock. There is no chance rates not going up at the next FOMC meeting because there are plenty of inflationary pressures in the economy.

It reminds me of those cartoons where someone runs off a cliff and keeps running on thin air, then plunges into the abyss.

LOL yes exactly... they still don't know the effect of the hurricane, how come XOM is still going up if it was all so rosy?

 

[kriesau]

Currently I'm just watching and will go short today if the Dow breaks below 10590 and long if it breaks above 10640.

Dow to 10750 tomorrow anyone ?

Currently long at 10640 :cheesy:

To quote Dylan "A hard rain is gonna fall" though hopefully not just yet. Will we see 10750 first :!: :!: