Where is the Dow & others heading in 2005?

[User]

Interesting to note that the Nasdaq and the S&P are not greatly down today. Could it be that the Dow will base at around 10,000! Honestly I can't really see it closing below 10,000 on the first atempt!

Long for a bounce towards 10150-200 looks like a good trade!

 

[tradesmart]

Maybe a false break....?......if it can make a higher low, it could attract some long interest....

Naz still showing a smidge of green (strangely...!)

 

[counter_violent]

Interesting to note that the Nasdaq and the S&P are not greatly down today. Could it be that the Dow will base at around 10,000! Honestly I can't really see it closing below 10,000 on the first atempt!

Long for a bounce towards 10150-200 looks like a good trade!

If 10,040 holds now as resistance ...we have to be looking at a 60 point down .....I M H O

 

[User]

Failure of 10050 now should prompt one last move down! I don't think we will breach 10,000 today and definately won't close below it! We should have a flat to a higher close on the Dow today. I'm a buyer if this 10050 fails and leads lower. Should be temporary

 

[FetteredChinos]

famous last words, my friend!!

got a change of kecks at the ready? im still long but a tad nervous. i would have thought we would get more of a bounce today.

3 day cycle points at a long overdue Buy day though..potential to head higher into early wednesday....

hmm..

ruminations.

 

[Racer]

We should have a flat to a higher close on the Dow today. I'm a buyer if this 10050 fails and leads lower. Should be temporary

A buyer if it fails and leads lower? Why? Is the reason simply because you think it is temporary and it is not really going down?

 

[Racer]

Is it a bit like 'it has gone down a lot already, so it can't go any lower'?
I am still watching and still not closing my shorts

 

[Racer]

And I don't know what the market is going to do.. I will have to wait and see

 

[FetteredChinos]

well if 10,100 resistance goes, we're going up. 1st stop 10,200 for Moorfields Eye Hospital.

 

[boy]

I am still watching and still not closing my shorts

Aye Racer, you are probably right to hold for the time being, but dont leave the screen or you might end up filling them!

 

[Racer]

GM one of the biggest risers, ROFL they are having a laugh...

 

[counter_violent]

Morphing thing it is!!!! ....c'mon ...lower low ...lets get back on track :arrowd:

 

[tradesmart]

What was I saying about a higher low attracting long interest….?.......

Noticable how the market time price range has corresponded very closely with the pre- market range……..

A common syndrome………

 

[Racer]

let the bulls have a little run out... they need a bit of fresh air after the recent run. Can afford to let them have a llittle bit of food to feed them up a bit so they will be able to survive the rest.....

 

[Racer]

And still GM the biggest riser

....................................................

Fears over earnings at General Motors and Ford drove up automotive bond yields on Monday as most bond buyers steered clear of the troubled carmakers.

GM, which reports results on Tuesday, is widely expected to be downgraded to junk status by credit rating agencies following its profits warning last month. GM warned on March 16 that it was likely to post a first-quarter loss of about $850m following flagging sales. Ford has said it no longer expects to reach its goal of $7bn in pre-tax earnings by next year.

 

[Racer]

NEW YORK, April 18 (Reuters) - Bank of America Corp. (BAC.N: Quote, Profile, Research) on Monday said first-quarter profit surged 75 percent to a record, on increased corporate and consumer lending, higher trading income and the acquisition of FleetBoston Financial Corp.

And what is going to happen when they can't afford to pay all that debt they have run up when interest rates go up even more?

 

[kriesau]

Trying to breach 10100 for the third time today. Got stopped out on a day trade short at 10025 but still have my long short at 10447 in place plus both my Nas shorts. Still bearish and looking for the drop to break resistance at 10,000. Could come in the last hour today or maybe tomorrow.

 

[counter_violent]

Thats the spirit ...we can all talk it down :arrowd:

 

[Racer]

Dow and S&P have opened up targets well below here on the long term charts.
They have bounced before from this line but they didn't go so high, so potential for great falls now possible.

Cue creepy suspense music

 

[User]

A buyer if it fails and leads lower? Why? Is the reason simply because you think it is temporary and it is not really going down?

Yes

For the short term I don't think we will breach and close below 10,000 straight away, especially not on the first few atempts. 10200 seems likely...