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

And long again on Melnibones ma signal.

closed the short earlier on for 90 point profit. and am long from 10580 atm which is in positive territory atm on the daily will close soon.

As i said earlier it is one thing to find the entry point and hopefully get that right and then when to exit. HOLD and FOLD is the question.

rgds
zarif

My long stopped out overnight. I'm not going to moan about being stopped out anymore. If the market is against you then so be it.

hi gang.
Just got in and watching atm. As they say "holding no position is a position of Merit"

rgds
zarif

Opened a small long on the S@P when it closed the gap
open from Monday.

Not sure if it will drop further yet so I've kept
plenty of powder dry to buy again.

I think there is a good chance of an up day tomorrow
as the market anticipates a possible good jobs number
on Friday.

Beige book at 1900 hrs tonight will likely keep
things subdued until then.
Famous last words! :-))

Melnibone.

Taking a chance we're going to bounce up and down
a bit and took the 3 points S@P profit.

Looking to rebuy if it hopefully drops again prior
to the Beige Book waffle.

Zarif, I noticed on another thread that you also
hold a Capital Spreads account.
How do you find them?
So far, I haven't had a requote and the site hasn't
crashed.

Melnibone.

Melnibone -Capital spreads is quite good and as u said no requotes.The good side is also that the spreads are tight and the margins workable. The plus point is as u point out when the system goes down on say like ig etc u can still trade. I am using capital spreads to keep medium term trades going and ig for the intraday.split the account so that one is handling currencies the other index etc.therefore with 2 screens is like switching hats on and that is what u r concentrating on.

rgds
zarif

http://uk.finance.yahoo.com/q?s=^GSPC&d=c&k=c3&a=fs&p=e10,e20,e50,e100&t=1d&l=on&z=l&q=l

Been using my EMA Rope again.
Bought at the bottom when the price turned and sold when
the price action came up to meet the 100min EMA and the
fast stochastic peaked.
Let's see if it works and drops again.

Melnibone.

Thanks for the reply Zarif, nice to know it's working
for you as well.

Melnibone.

Looks like I got that wrong. It just stuttered and
then shot up.
It's going up a lot earlier than I expected, unless it's
going to open up near resistance highs tomorrow, I reckon
it needs to drop again this evening.

Melnibone.

Melnibone: Your deduction is same as mine in that it will go north then track down. I think Fed beige book results out later.

rgds
zarif

http://uk.finance.yahoo.com/q?s=^GSPC&d=c&k=c3&a=fs&p=e10,e20,e50,e100&t=1d&l=on&z=l&q=l

The rope hasn't straightened out yet to show a trend change,
possible retrace here.
Dow 10600 seems to be giving the Bulls trouble.

Melnibone.

Listened to some trader talk on Bloomberg this afternoon.
He was saying that a lot of small traders were getting
nervous and closing S@P longs.

Apparently there is an 'Air Bubble' below 1038 and trading
chartists are watching to see if this level breaks to open
shorts.

Their views, not mine, so take it or leave it.

Melnibone.

Just had a look at my trading record.
1138.4 was where I bought last week.

Glad I didn't know about that level then or I would
have 'ummed' and 'erred' and missed the opportunity.

Makes you wonder if it's worth listening to 'experts'.
All it seems to do is cause you indecision.

Melnibone.

Well, DOW/S@P 10600/1151 seems to be holding.

I don't want to be short for tomorrow, so I think
I'll go and watch 'Corry' with Mrs. Melnibone and
see if it drops before the close so that I can open
some longs for tomorrow.

Catch you later.

Melnibone.

Straight from the book........

The U.S. economy continued to expand in February with modest gains in employment and prices, the Federal Reserve said Wednesday in its Beige Book report on the economy.

Growth was variously described as "moderate," "firm," "sound" and "accelerating" in the Fed's 12 regional districts.

Employment has been growing slowly in most Federal Reserve districts," the Beige Book said.

Wages were growing slowly, while employee benefit costs were increasing faster.

Retail prices were "level or modestly increasing" while "commodity prices have moved up more noticeably."
Consumer spending was higher in 11 of 12 districts, with only St. Louis reporting lower sales. Manufacturing output also increased in 11 districts, with Cleveland reporting steady production.

The Beige Book was compiled by the professional staff at the Federal Reserve Bank of Philadelphia from thousands of contacts with businesses and others in each district. The report is not the views of the Federal Open Market Committee, which meets in 13 days to consider changes to monetary policy.

nite all.

Just logged on again.

Judging by the lack of movement for the last hour,
I'd say that the US floor traders knocked off to
watch 'Corry' by satellite link as well. :-)

Melnibone.

evening all. i have been out all afternoon but doesnt seem like i missed much today. tight range as far as i can see on the dow. went long today but none of my limits were triggered.
anyway, i will have them open for tomorrow so hope for an uprising tomorrow, although i dont think we will see much movement until friday after the eagerly awaited news.
nite guys

Hi Javid,

I'm looking more to today for the rise.

News comes out at 1330 prior to the open, so if
the normal trading hours people want to pre-empt
it, they need to be in by close of play today.

Melnibone.