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Traders Thread Thursday 12th August 2004 (CROC)     

Martini - 11 Aug 2004 21:22

Melnibone - 12 Aug 2004 18:44 - 19 of 20

Watching it now Little woman. Little bounce before down to
the close, IMHO.
NDX down to new lows today.

If it falls towards the close, it would mean that the FTSE closed
near the US highs. Seems to happen quite often, that, doesn't it?
What a coincidence. :-)))

Anyone who went long, late this afternoon, will be producing
kittens at the moment. ;-)

Melnibone.

Melnibone - 12 Aug 2004 21:13 - 20 of 20

Well, we got the little bounce and the drift down to the close.
Folk just seem to be looking for an out at the moment.
It will need the Bears to scare and start squeezing themselves
to get much upside in these markets, IMHO.

So the Ftse closed near the US highs and the US closed near
it's lows. Unless we get something positive after the bell that
starts the US futures rising, it's starting to look like a gap
down open on the FTSE tomorrow. It's got a cushion before it
hits 4300, and it needs it. If it starts going much below there,
traders will be looking for a test of 4200, especially if
DOW/NDX/S&P 9800/1300/1060 start to give way.

Melnibone.
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