Where is the Dow & others heading in 2005?

[RUDEBOY]

Racer, one of my lifes motto's, better to die owing!

 

[kriesau]

What a day. I've got two shorts at 10447 and 10381. I got stopped out of two speculative shorts at 10340 and 10300 because I was too cautious on my stop losses. That cost me £3000. However my live shorts are currently up double that so it was still a good day, but without my own overcautious position on the speculative shorts it would have been a great day.

 

[Racer]

After hours daily dow.. rudeboy you did really well to get out!
daily is 10240

 

[RUDEBOY]

RB's epitaph: Sorry Finspreads, guess the market didn't change after all!

 

[User]

The Vix certainly has poped up! Its up over 9% today! Racer just noted the futures they've slid further.

So we got the break then...

 

[Racer]

Now a little bounce before going lower?

 

[aspex]

Dow is now at 10243 currently quoted on the after hours.
Nasdaq100 1433 (closed at 1441) :cheesy:

 

[roguetrader]

SUNW just reported a miss on earnings, more bricks for TS's wall of worry

 

[Racer]

ARMONK, N.Y., Apr 14, 2005 (AP Online via COMTEX) -- International Business Machines Corp., the world's top provider of computer hardware, said Thursday that first-quarter earnings edged up 3 percent year-over-year, missing Wall Street expectations as the company reported difficulty in closing transactions.

 

[Racer]

futures tumbling now on IBM

 

[frugi]

Way to go Racer Futs at 10228 Cover half an hour before tomorrow's close perhaps?

161.8% extension at 10k, FWIW ... reckon the PPT might take us back up in short order on Monday first, mind.

Anyway hats off to ya, well done.

 

[roguetrader]

IBM down about $4 from the close

Did IBM release early, yahoo slates them to post on the 18th

 

[Racer]

we will see.... moving stops down.. got several hundred points on it now and not a small trade either

thank you IBM, perfect timing!!!

 

[RUDEBOY]

Racer, Grasshopper say: Person who think he has market wrapped up, has only himself to unwrap in the end? Only joking mate! Good call!

 

[Racer]

rudeboy, well done.. you closed.. that was a fantastic trade and much better than mine
edit
I hope that comes across the right way.. to cut losses it the hardest thing to do.. you did it very well, I was only going with a profit and letting it run, so my trade was not really a trade as such.

so I still say you did far better than me! Control of positions, and you did it, well done.

 

[RUDEBOY]

Racer, i didn't cut losses, it hit my stop?

 

[RUDEBOY]

It was bad, a bad trade! to cut losses would have been 100 pts, not 200 @ the stop.

 

[ketch22]

10356 support w/ 10200 strong support then a rally back near highs or possible break of 11027. This to happen before June 30. Then from the 10984/11027 + - we see Christmas on a downhill slide.
May profitable trades abound whatever direction you choose.

10189 max decline.... then only 55 days or sooner to claw back to the highs. imho :cheesy: good luck and good trading

 

[kriesau]

Closed my 10381 Dow short to take a 161 points profit. Have left my 10447 Dow short open which is currently 221 points ahead. Nasdaq 100 short from 1490 still open.
Does anyine think we are likely to see a bounce after the market opens down today and if so where do they see the resistance level. I think that 10400 could be the key level for an upside break with 10225 as the next level of support to be breached.

 

[DowSyndrome]

10400 would be nice, I went long at 10358 so am getting a kicking at the minute. Alot of my colleagues are going long now.