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

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

Managed a good short on the dow just and am just watching at present.
Be careful of the whipsaws

rgds
zarif

thank god for stop losses

lw- glad u took on board the stop loss strategy as without them is just an invitation for a disaster and this beast of Ym can devour us at anytime.Best to get little morsels from it and watch again from a distance than pounce and grab what u can and hide it!!!!!

rgds
zarif

MORE) Dow Jones Newswires

December 30, 2003 10:58 ET (15:58 GMT)


30 Dec 2003 17:03 BS DJ Hamburg/Attack Fears -2 Car Bomb Attack Feared




BERLIN (AP)-- Police closed off streets around a German military hospital in a Hamburg suburb Tuesday after indications that Islamic extremists planned a car bomb attack.

Hamburg police received the tip-off from unidentified "security sources" at 2.30 p.m. (1330 GMT), a city police statement said. "Those potentially involved are believed to me from an Islamic, terrorist background," it added.


(MORE) Dow Jones Newswires

December 30, 2003 11:03 ET (16:03 GMT)

Hi everyone.Not got the hang of the Dow.Made stacks of profit on individual stocks but lost most of it on the Dows illogical rise to the current dizzy hieghts.


Will sit on my hands and spectate.Until sanity returns

Have a happy new year

Tariq

Tariq:
Dow is a monster if you go in with a gunslinging attitude you will win a few times than the market will eat you alive.
As to trading strategy in a "nutshell" - Say you are a runner and you have got bad case of flu -then you will not run that day -same applies to trading -you must get the psychology and moneymanage ment right and look at risk/reward ratio all the time.

if in dowbt stay out -thats the safest option.that way u dont lose your hard earned cash.

rgds
zarif
ps: properous and a happy new year to you.

thanks for those wise words.Best of luck.What do you think it'll do today?

Regards

Tariq

hi tariq:

Poor Michigan sentiment is always a downer for the markets so we should be going down today and tomorrow, there may be an attempt to go higher on Monday and Tuesday but it will be short lived. We should be going down big time starting mainly Tues evening and Wednesday and lasting for about 2 weeks with an odd up day in between. thats what it will do imho.

rgds
zarif

18.46 hrs and dow still in -ve territory - i wonder if it will take a hike up or plummett down. You can guess what i want it to do with lead weights in my hands.

rgds
zarif

30 Dec 2003 20:27 BS DJ Italy Extends Ban On Private Flights Over Rome To Jan 6




ROME (AP)--The Italian government has extended a measure restricting private flights from entering airspace over Rome, officials said Tuesday, amid heightened terrorism warnings over Christmas and New Year.

Authorities decided to extend a ban on noncommercial flights entering airspace within a five mile radius of the center of Rome to Jan. 6, said Nicoletta Tomiselli from the Italian air traffic control agency. The block began Dec. 24 and had been due to expire Monday.

The decision came after Italian Premier Silvio Berlusconi told an Italian newspaper that terrorists planned to attack the Vatican with a hijacked plane on Christmas Day. The premier later distanced himself from the comments, but his office didn't deny he said them.

Security is tight all over Italy. Interior Minister Giuseppe Pisanu said earlier this month that 12,000 police and 4,000 soldiers have been deployed throughout the country to patrol some 8,000 possible targets.


(END) Dow Jones Newswires

December 30, 2003 14:27 ET (19:27 GMT)

Looking for a little rally, just gone long the YM March at 10395

Once I am sure about the direction I may place a down bet on it (with S/L).Momentum seems strong on this beast though cos under normal circumstances todays data would have sent it south in a big way

All the best mate

Tariq