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

Interesting article for you FX traders.
http://hardrightedge.com/wheel/hreforex.htm

A price drop on the US indeces should be on the cards today. What with oil price
worries etc.
Yes? No?

Well, it did drop but is now back up again.

http://uk.finance.yahoo.com/q?s=^NDX&d=c&k=c3&a=ss,w14,m26-12-9,r14&p=m10,m20,m50,m100&t=5d&l=on&z=m&q=c

Just to confuse you all further, (why should I be the only one.) :-))

Nasdaq100 seemed to put in a swing high yesterday, when it made
a lower daily high and low after 3+ up days.

Trouble is, it also put in a 'W' day, which to me shows strength,
and today it has put in a higher high.

Sigh :-(((

Melnibone.

Strewth Melnibone! There are far too many indicators on that chart.
No wonder you are confused, as am I.

I seem to like making things difficult for myself, Snoball. :-)

Seriously though, I can't find any market watcher or commentator
who is convinced he/she is right about direction at the moment.

As soon as we lose a trend, everyone just seems to mill about,
rushing from pillar to post. This is where margined players lose
money and then lose it even faster trying to 'win it back'.

Melnibone.

Which is why I'm not playing these days, Melnibone.
I'm quite happy to watch and hang on to what is left of my account for now.

Hey guys, any of you purchase US stocks or heard of a company called Parker Rowe (www.parkerrowe.com) They phoned me about 5k investment in a US stock.

I have heard something like this. I was phoned by an investment company in Austria I think (with a web site etc) offering me shares in a new American company producing products dealing in obesity - fantastic opportunity but I had to act really quickly as he could not hold the stock or his allocation for long. I think they call them 'boiler houses'. The guy suggested I moved everything out of my broker account and invest it in these 'couldnt loose' shares.

Now it would be extremely presumtious of me to advise anyone how to invest their money so I won't. All I will say is that they were using some very 'hard sell' techniques - like me agreeing that I would be a fool not to invest, and he was very persistent - ringing every day. In the end I wrote a very assertvie (perhaps even agressive) e-mail to him saying how it was a complete waste of time phoning me as I would never do it and I have not heard from him since.

I might be completely wrong and your opportunity be completely genuine.
Just be careful with your hard earned cash and good luck!!

Leave it well alone would be my advice.

Why in the world would anyone want to cold call loads of
the 'Little Guys' if they had a genuine money making opportunity.

Have I fell into an alternate reality where the world is full
of American philanthropists queuing up to throw money at me?

When anybody contacts you about buying something from them it
will, without exception IMHO, be them that is trying to make money
from You, not the other way around.

Melnibone.

Yep - have also asked the question on the other board with pretty much the same response. The description from JonP is almost identical but a little slicker, high pressure, could not get him off the phone, tried to slip in that I would agree in principal to lead the way. Even when I said no he started on about the chance the price might go up. Did give a number to phone back asked him where he was based he said Bearcelona, funny the number code was London. Might be legit but would not take the chance and has been pointed out this stock would have to be resold, is over the counter so might not be liquid. Yukk not interested.

Thanks for the thoughts and have a good week on the DOW

It sounds like you've been contacted by a 'bucket shop'.
It is illegal to tout for shares by phone in this country, I believe.
Don't take any notice of them kandrews250.

Stock Market View:
June 7, 2004 - Europe

Equity Market Summary -

Asia Pacific markets opened strongly Monday. The gains throughout the markets however trailed Friday's strong performance on Wall Street. Oil prices were down 18 cents in early Asian trading to U.S. $38.31 a barrel. Australian stocks opened strongly with the All Ordinaries Index up 0.41%, in early trade, to 3480.90. Singapore?s Strait Times Index was up 0.49% to 1800.42, while South Korea?s Kospi was up 2.53% to 800.53. At the same time, Taiwan?s Weighted Index had gained 2.06% to 5,842.68. In Japan, the Nikkei was up 2.41% to 11,396.09. The yen strengthened against the dollar to ?100.59. Japanese benchmark 10-year bonds fell 0.473 to a price of 99.61. The U.S. data was good news for Japan, whose export-led recovery is largely fuelled by demand from the U.S.

Although stocks finished near their lows of the day on Friday, the market still put up respectable gains for the session, bolstered by a number of positive fundamental developments. The May employment report was by all accounts impressive - average hourly earnings climbing 0.3% (consensus of 0.2%), unemployment unchanged at 5.6% (consensus of 5.6%), and nonfarm payrolls growing 248K (consensus of 225K). Technology was at the helm of the rally, due mostly to Intel's (INTC 28.28 -0.87) bullish mid-quarter update. The advance - supported by gains in financial, transportation, material, and cyclical as well -- held its own until late in the day, when sellers began taking profits ahead of the weekend. The session ended with modest gains all around. Dow +46.91 at 10242.82, Nasdaq +18.36 at 1978.62, S&P 500 +5.86 at 1122.50.

European bourses on Friday, which were generally already up on the day, firmed following the positive U.S. payrolls data. In late afternoon trade, the DAX and CAC-40 were both up around 1.3% on the day, while the FTSE-100 was up about 0.4%.



Equity Technicals:


- DAX Index - Be on the lookout still for a "test of the base" type decline -- which may bring the index back to the 3800 - 3760 in the next few days. A recovery from there may evolve into a new upwards cycle which should go on and challenge the 4175 top further out, and perhaps go on and focus at a 4500 upside target later in the year.


- FTSE 100 Index - resistance may show up at 4460 again. The index should fall further later in the trading day. Continue to make allowances for a "test of the base" type of corrective decline, the target of which is the area of 4395 - 4380 late in the week. The next upwards phase from there may kick off a new upside sequence which will go on and challenge the 4600 top, and perhaps extend gains further towards 4750 later in the year.


- S&P 500 - with the index failing to crack the 1130 resistance, expect to see a 1110 - 1105 pullback down the road. We may even see a pullback to as low as the 1090 - 1080 area thereafter -- a "test of the base" type of corrective action. Nonetheless, recent action is indeed supportive of the view that the new bull market cycle may have began and would accelerate higher after a brief pullback. The new upwards phase may go on and challenge the 1165 top, and thereafter extend gains to 1225 - 1230 later in the year.


- Dow Jones Ind Ave. - the sell-off should resume, and we may yet see a pullback to 10,100 - 10,000 sometime next week -- a "test of the base" type of correction. Make allowances still for further declines to 9920 - 9910. Odds have shifted to now favor the upside longer term -- we may have in fact seen the major downside correction trough at 9,815 in early May. A new bull market waits in the wings to be confirmed -- eventually, we expect to see a rally to the 10,800 top, and perhaps further appreciation towards 11,500 later in the year.


- NDX 100 - the index should trade lower in the next few days. The index may do a corrective decline back to 1405 - 1395 area -- a "test of the base" type of correction. A new bull market waits in the wings -- we expect to see a test of the 1560 top thereafter, and perhaps further appreciation towards 1700 later in the year.


- Nikkei - the index recovers from last week's weakness, but no change in the view -- expect a "test of the base" decline, for a retest of the 10,700 base. However, a new bull market should emanate from there, which may have 14,000 as the major goal late in the year.


- Hang Seng - the index recovers to 12,400 - 12,450, , but it should resume the decline later in the week. Make allowances for a corrective decline back to 11,600 - 11400 from here, a "test of the base" type of retracement. The bull markets should then resume and may target the 16,500 - 17,000 area later in the year.

Kandrews:
Hello one and all.
My advice is to leave these cold callers alone.
I had a similar experience last month or so back and posted the details on the traders board etc.They had the audacity to send me the contract note saying that i had bought about USD 5200 worth of this so called plant soil company shares which had not even been listed on the Exchange as yet.I asked the guys on the boards and with their advice slung the papaer in the bin and never heard from them again.

rgds
zarif

Dow climbing high atm. Reckon will see 10380 and over today?
My feeling is that it will pop and drop but will have to watch the results out at 8pm.
trade wisely and safely

rgds
zarif

Dow playing in a very tight range after yesterdays gains.10400 needs to be breached decisively and i reckon the next leg 10450 is going to be a tough nut to crack if it gets that far and greenbum does not spook the market with his speeches.
Best to watch the market as it can whiplash with small volumes and this so called Bull can fall into a bear quite suddenly.

rgds
zarif

Good morning,
below is the analysis by Tom Hougard.



My feeling is that the market is in a quarter end mark up phase which is seeing more upside than even the perma bulls could have hoped for. This is caused by the lack of participation from the big Wall Street firms. The evidence is in volume which is running at around 2/3 of the normal average volume. This does of course necessarily have bearish implications. It just means that no one is interested in selling and buyers have to chase prices higher.



Oil prices look toppy as well and may provide the catalyst for higher prices in the market. I could see a relief rally develop on the back of lower energy prices, but I do think that the market is very vulnerable to exogenous factors relating to oil. In other words traders are keeping a close eye on that sell bottom if a piece of undesirable news item rolls over their monitor.



I spoke to a friend of mine last night who trades the SP500 in Chicago. He told me that he will take Thursday off before the Reagan funeral on Friday. His reason was that Thursday is roll-over day from June to September and it often buggers the geometry of the contract. I have today and Thursday as trading lower but if many traders are taking off early we could find a market far more prone to market manipulation. I would therefore only short weakness.



The 1145 area is a huge target for the market. If we were to close above 1145 the market could theoretically move to 1170. I am not a big fan of this and I am in general not a big fan of the market right now. It feels odd to me and looks most suitable to day trading. Keep an eye on 1145 as the market could see a dramatic reversal at this price.



Oil is falling and I am looking at stocks like BP and Exxon Mobil. XOM has failed to trade significantly lower (only dropped about $2) since I issued a short at $44. We are now back around $44. If both BP and XOM trade higher from here, and can get through $44 it targets the all-time high at 47.75 at a minimum.



Tom

Afternoon guys /gals
Are we going to have a value wednesday or a voodo wednesday?
Rallies on low volumes even though bullish lack credibility imho.
nearly got to my 10450 level on the dow yesterday.Lets see what happens today

rgds
zarif

NDX just kissed yesterdays low.

If it breaks it, it is in theory, a swing high short.

Melnibone.

Off for the evening out now.Doing a recording session with the band today.
Closed the dow short in profit and have got Cable long open atm

rgds
zarif