Trading the SPX

[Racer]

I like this description of consumer confidence figures

A survey of "250 people who aren’t smart enough to let the answering machine pick-up."

 

[Racer]

Joules, I would appreciate your views on the Australian market, this seems to be topping ? and wonder could it be a leading indicator as it has been in a major bull run up to now

 

[hornblower]

just turned on ,
why the big drop?

 

[Racer]

GDP figures and revision downwards of last three years!

 

[hornblower]

ok thanks
H

 

[Racer]

And XOM is now down 1.25% LOL

 

[roguetrader]

Nice orderly descent, I do like a nice bit of order with my Wensleydale.

 

[hornblower]

S & P seems to have stopped below the 100ema

 

[roguetrader]

Ah, got that one right! Out at 1237.1

Nicely targeted Joules.

 

[Racer]

S & P seems to have stopped below the 100ema

They are down the pub for lunch deciding if the 6 oclock move should be up or down.. normally they like to reverse the move they had before that, but will they be different today?

Here we go all the way down the hill and all the way back up again............ nuts.....

 

[roguetrader]

Seems a few "gurus" had also ear-marked wed/thurs as turn dates with different methods and were all wrong too. Lottsa sore cahunas with pre-emptive positions which had to be liquidated (that'd certainly help the upward momentum) so not surprising today is a respite day for the bears.

Yes I have a feeling quite a lot of the upward movement has been through ill-timed shorts getting squeezed. Actual buying just doesn't seem that prevalent. Though I could be wrong of course.

 

[hornblower]

S & P forming a pennant

 

[RUDEBOY]

Joules...ill timed shorts? What is an ill timed short? 'Short gathering'? Money management holds the key? Even the pro's can't be absolute exact! The market can only calibrate 'past' volume. Is volume fluent? So why should price be? Good trading, matey! RUDEBOY.

 

[RUDEBOY]

Good call, Joules, good call! RUDEBOY.

 

[RUDEBOY]

Post 1137, Joules. Mmmm! The question is not some kind of trick question. It relates more to which we all think is the correct 'presumption'. Personally, i can not see any real 'for' or 'against', only for that in which we believe. Good trading! RUDEBOY.

 

[roguetrader]

Sexy SOX on the move.

 

[roguetrader]

Well unless there is a late surge in volume it looks like another lightish volume day to finish off July. With earnings season starting to wind down next week volumes should remain pretty lack lustre until after labour day.

 

[roguetrader]

Inside day ?

For the SPX yes so far.

 

[roguetrader]

....still a little widdy iddy time left....

 

[roguetrader]

SPX weekly? Spinning top.