how do you see the dow index going today Dow Jones and S&P commentary: Signal Watch Dr Bob Hard Right Edge Raptor Research Charting by Snoball: Dow Chart S&P Chart Drinks & Break Time at: GD's Famous Tea Room & Watering Hole"

DOW JONES @ LIVECHARTS

up 85 as I speak! unbelievable. Now I've got to figure out where to get in again.
hope you're still coining it lw.

just gone short - but only in a small way, just in case!

lw 10429 on the daily just hit. just looking at present and the upside is going like a rocket.lets see what the last half hour does. Did you keep hold on to your long or did u take the profit before hand. i am sure your short will pay.
rgds
zarif

lw,
you've got nerves of steel, obviously.
zarif does the same thing, betting against the trend.
I don't understand it.
every time I do it, I get creamed.

Chickened out at 10425 and went long again! I'm only doing small amounts now, just in case.

COPIED FROM ELSEWHERE:
29/12 22:07 Fed Sets Overnight, 4-Day RPs; Fed Funds At 1%

NEW YORK (Dow Jones)--The Federal Reserve is arranging overnight and four-day system repurchase agreements Monday, the Federal Reserve Bank of New York confirmed.
Federal funds were trading at the Fed's target rate of 1% when the central bank entered the market.
The Fed had been expected to execute overnight RPs.
-By Michael S. Derby, Dow Jones Newswires; 201-938-4192; michael.derby@dowjones.com
(END) Dow Jones Newswires
December 29, 2003 10:07 ET (15:07 GMT)

snoball - not sure what you've posted means! Is it good news or bad news?

If the current long backfired, I would get out quickly and call it a day, but so far it's seem to be working nicely!

I bet that feels better, lw -10445 as i speak.

lw, this is being supported by the Feds.
Not much point betting against them!

So it should carry on up?

Although, when the British Govt some years ago (was it Nigel Lawson) tried to support the , the dealers decided to have some fun, and well and truely screwed it!

Lw: looks that way. but i think it will retrace abt 50pts then up. well played today.
rgds
zarif

nite y'all.

The Bullish Percent Index

This has been 'overbought' since September and is still going up!

Key levels for 30th Dec.2003

Trade wisely and safely. If in Dowbt stay Out.

rgds
zarif

I'm currently long DJ - plan is to close my position today and then leave well alone for a couple of weeks. They seem to be very positive in the US.

I've transfered out just over half of the money I orginally put on my CFD account and intend to transfer the rest tommorrow or tonight. That'll just leave my profit to play with for next year. (Although I'm considering taking 25% of the profit out to spend too!)

Lw: Your logic is fine and once its in your hands and not in the trade a/c.you will not be tempted. Also the nett profit 25% to take out is good idea if there is room for more than i suggest u deprive them of 45-50% of the profit aswell.
re: the dow -the yanks amaze me -gunslinging all the way to OK coral-no wonder they make cowboy movies as with all these Bse madcow( now they are saying it was a canadian cow not a US one!!!!-must have been visiting NY),deficit in trillions,terror alerts etc etc AND WHAT DO they care they are still going up up up.The feds printing machines must be running out of paper to print benjamin franklin.Ther dollar is getting a pasting everywhere EURO,Cable,CAD,the yen ( ithink the BOJ/MOF) will intervene and inject more trillions to prop up the dollar -so be careful as its reacing that level.
There is some important releases out today for YM.
Nov existing home sales -consensus looking for 6.35 mill
measure of consumer confidence -to adv to 93.5 from novs 91.5
Chicago PMI -to retreat to 61.3 from novs 64.1.

Have u still got your short running?
Do you reckon will reach 10500-10550 today? I think so and then around 6-7pm our time will take a hike south.

rgds
zarif

Zarif, I switched the short to long yesterday, when it passed 10425. Fortunetly it was a small short so I managed to hang onto a lot of the earlier profits. I'm still long, but only a small position.

The trouble with the US is they think they are invincable, so they will pour money into the stock market etc. until someone pulls the plug! Thats why I think that once I've closed my current position I will keep away until it looks like the correction will finally hit - good & proper!

KEY EVENTS TO WATCH FOR:

7:45 AM ET. ICS-UBS Store sales index for wk. of Dec. 27 (last +0.6%)

8:55 AM ET. Redbook Retail sales for wk. of Dec. 27 (last -1.2%)

10:00 AM ET. December Chicago Purchasing Manager's Index (seen
62.2; last 64.1)

10:00 AM ET. December Conference Board Consumer Confidence
Index (seen 91.5; last 91.7)

10:00 AM ET. November existing home sales (seen unchanged; last -
4.9%)

4:30 PM ET. ABC/Money Consumer Confidence for wk. of December
27 (last -9)


The STOCK INDEXES & MARKETS

The March NASDAQ 100 was higher in overnight trading as it extends
Monday's rally, which exceeded the previous contract high crossing at
1457. Stochastics and the RSI are bullish signaling that sideways to
higher prices is possible into early-January. Monday's breakout above
the early-November high crossing at 1457 has opened the door for a
larger-degree rally into early-January. The March NASDAQ 100 was up
3.00 pts. at 1473.00 as of 6:51 AM ET. Overnight action sets the stage
for a steady to firmer opening by the NASDAQ composite index later
this morning.

The March S&P 500 index was slightly lower overnight due to light
profit taking as it consolidates some of Monday's rally. Monday's rally
tested the March 2002 high crossing at 1109.10. If this resistance level is
cleared, the April 2002 high crossing at 1149.90 is a potential target later
this winter. Stochastics and the RSI are bullish signaling that additional
short-term gains are possible into early January. Closes below the 20-
day moving average crossing at 1078.32 are needed before a top can be
confirmed. The March S&P 500 Index was down 0.70 pts. at 1106.90 as
of 6:54 AM ET. Overnight action sets the stage for a steady to lower
opening when the day session begins later this morning.

Lw: You are quite right it is so overbought that in reality a feather should bring it toppling down.Same as you I will watch it and if/and when the oppurtunity is right then go for the kill. I have found that it takes a long time to go UP but the falls are very fast and hard-its due a correction/retracement.But then Mr bush wants to win the election!!!!!its not his wallet that the dosh is going to come from!!!

Look at forex as it has a lot of oppurtunities and paper trade them for a while to get the gist of it. Also European stocks like Adidas Saloman which have near set ceilings and floors and they can move 200-500 points.I am trying them out aswell so will update you.

reckon the market will retrace a bit at opening?

rgds
zarif