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

So what's this 'n' shape stuff then?

Some secret trading strategy

Nah!

Just look at the chart shape and tell me which letter
you see. ;-)

Still 15mins to go so we may get another alphabet shape
yet. ;-)

Great sence of humour on this thread, I love it!

Melnibone.

I'm going to trade the daily tomorrow rather than leave anything on overnight.
See ya then.

next stop 9600? 9620 broken.
New lows being hit now.

I'm short at 9625 so was glad to see the fall in the last hour or two.
Hoping for more of the same tomorrow.

evening all,

what a day it has been, up and down like a bride's nightie :-)

1st time playing the S& P long and short tonight very good it is a lot more relaxing than the dow.....

Hope you did not get burned to much today and kept your pots in tack...

what will tomorrow bring aint got a clue can any one look into there crystal ball please and tell me ??????

Mega...

Melinbone.

I would like the letter I tomorrow - straight down.

Can you fix it?

Harlosh

Certainly went down lower than monica lewinsky ever did!!!!!!!
I hope it bounces up a bit so can liquidate my long and then Monica lewinky time again would be great.
Ps: on a serious note tomorrow may be v.volatile as the options expire and they try to cook the books.

rgds
zarif

can any one look into there crystal ball please and tell me ??????

Just a view, but it kept me safe today looking for lower buy prices.
Even if we did get an 'n' shape chart instead of my expected 'u'
shaped chart.

If terror attacks were expected would you take out new long positions
with the weekend approaching?

I certainly wouldn't.

If folks were not buying where would the pressure come from to
raise stock prices?

Flat to down is my view.
(And that's all it is, a view)

I expected a 'u' shaped day but got an 'n' shaped day,
the result is the same for position traders but obviously
totally wrong for daytraders.

Daytraders would have lost money on my previous call of
a 'u' shaped chart, but position traders would have been ok.

Your money, Your timeframe,
Your call.

Melnibone.

Hi Harlosh,

I'll try for an 'I' day, but it's about time we had
a 'w' day.
IE. Nobody really knows.;-)

Melnibone.

long s&p 1033.4 tight sl over night so i can sleep :-)

Afternoon everyone:
Wonder whats in store today. I hope some more of yesterdays action as i have got my shorts on ( i mean my pants not positions - i have got one long open from lastnight dec dow opening at 9645 - i hope it gets fulfilled b 4 the open)

On a serious note guys/gals be careful as might be spikey and volatile with the options expiring today and them cooking their books. As we are all shipmates must find safe harbour "Any Port In a Storm"!!!!


Indexes continue to drop. Watch support. (courtesy of DATAI)

3:30 PM EST - The indexes are continuing to retrace after breaking through the lower trend line of the downside pennant consolidations formed earlier. They are continuing to drop to their support levels. Watch for a further break and move lower, or a bounce and move higher within the range. The following are the lower support levels.


Dow - 9,615


NAS - 1,880


OEX - 512


NDX - 1,362


SPX - 1,033

Bit of news from DJ newswire:

21 Nov 2003 12:39 BS =DJ US Stocks Set For Higher Open Fri On Bargains, Doughnuts

NEW YORK (Dow Jones)--U.S. stocks are leaning toward the positive before the open Friday, as investors look to snap up some bargains following Thursday's sell-off. With no economic news on the menu Friday, investors will be left to sort the weeks' news including Friday's on-target earnings and updates from Kripsy Kreme (KKD). Option expirations might also add some volatility to the market as traders square up positions.

Dow Jones futures rose 29 points recently to 9640. Nasdaq futures rose 6.50 points to 1369, while S&P futures were 3.70 higher at 1035.70.

In London, the FTSE 100 Index opened stronger than expected, but drifted back on the sell-off of U.S. stocks yesterday. Volume is thin with little newsflow Friday, although options expiry could cause some volatility. EMI Group (U.EMI) shares moved lower as a rival bid from former Seagram CEO Edgar Bronfman Jr. emerged as the favorite in the battle for Warner Music Group.

In Japan, the benchmark Nikkei 225 Stock Average ended down 0.1% at 9852.83 ahead of a 3-day weekend. Players kept to the sidelines after U.S. stocks fell on bombings in Turkey. Despite subdued trading, the index was helped by buying in banks, construction, and other domestic-orientated issues.

In U.S. corporate news, Krispy Kreme Doughnuts Inc. (KKD) reported third-quarter income rose 43% to $14.5 million from $10.1 million last year, while earnings-per-share increased to 23 cents from 17 cents last year and in line with Wall Street's expectation. The company also reiterated its target of 10% same-store sales growth in 2004, and estimated earnings at 26 cents a share for the fourth quarter and 92 cents for 2004.

Intel Corp. (INTC) and Advanced Micro Devices Inc. (AMD), fierce rivals in the market for microprocessors, gave encouraging signals about a recovery in the long-struggling sector. Intel CEO Craig Barrett said he expects a rebound in the semiconductor industry and sees signs of a global improvement in information technology. Barrett also stood by the company's fourth-quarter earnings guidance. Intel last month projected revenue of $8.1 billion to $8.7 billion. AMD, for its part, said it will build a $2.4 billion manufacturing plant near its factory in Dresden, Germany, which will begin operation in 2006.

Freddie Mac plans to release restated results for 2000, 2001 and the first three quarters of 2002 at 7 a.m. EST, today, followed by a conference call at 8 a.m. The mortgage-finance company is expected to report that it understated earnings by close to a combined $5 billion in 2000, 2001 and 2002, and possibly some periods before 2000. Freddie Mac most recently had advised investors to expect a figure "at or above" $4.5 billion. However, the restatement isn't expected to provide earnings for the first, second or third quarters of this year. Those numbers won't be available until next year, people familiar with the situation said.

Late Thursday, Walt Disney Co. (DIS) reported earnings and revenue that beat Wall Street's expectations. Gap Inc. (GPS) said third-quarter net income rose 94%, also topping the Street's estimates.

Smithfield Foods Inc. (SFD) is expected to report second-quarter earnings of 31 cents a share, also before the opening bell.

There is no major economic news scheduled for Friday.

The Dow Jones Industrial Average lost 71.04 points, or 0.73%, to 9619.42, the Nasdaq Composite dropped 17.73 points, or 0.93%, to 1881.92 and the Standard & Poor's 500 Index shed 8.79, or 0.84%, to 1033.65.

(END) Dow Jones Newswires

November 21, 2003 06:39 ET (11:39 GMT)

Got the stop hit on my long DOWn 120 -watching what topside then short like mad.

got 2 shorts on the go one opening at 9610 and other at 9622.

harlosh:
as u wanted W's the dow is obliging u at the moment. 17.02.
watch out for the option expiry time around 6pm

rgds
zarif

Hi Guys,
Just arrived home. Glad to see it going down.
I'm short from 9625

21 Nov 2003 18:37 BS =DJ US Stocks Edge Higher But Merck's Loss Weighs On DJIA




By Cynthia Schreiber
Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--The Dow Jones Industrial Average is toggling between positive and negative territory in mid-session trading Friday, as Merck's losses offset McDonald's gains.

Leading the blue-chip advancers, McDonald's is up 56 cents, or 2.3%, to 25.24, after UBS Investment Research issued a buy rating on the stock, saying its price should rise over the next year as earnings continue to exceed Wall Street's expectations.

However, blue-chip Merck & Co. has lost 2.86, or 6.4%, to 42.30, and is leading the blue-chip decliners, after halting development of a diabetes drug that had been in late-stage testing after identifying a malignant tumor in mice. Morgan Stanley downgraded the stock to equal-weight from overweight, calling the setback the "last straw."

Canadian drug company Biovail is also taking a hit, down 4.96, or 21%, to 18.25, on news the Securities and Exchange Commission has opened an informal inquiry into its accounting and financial reporting practices for fiscal 2002 and fiscal 2003 to date. Biovail said it "intends to fully comply with all such requests."

Adding to the pressure, Walt Disney, the last of the Dow industrials to report earnings, has slipped 21 cents, or 0.9%, to 22.48, after posting a stronger-than-expected fourth-quarter net profit of $415 million, as the surging performance of its movie studio overcame weak theme-park results. Disney declined to issue a specific earnings forecast for 2004.

United Parcel Service has fallen 1.17, or 1.6%, to 70.76, after confirming it will raise rates for ground-based shipments by 1.9%, the smallest such increase in at least seven years.

Meanwhile, FedEx has lost 4.13, or 5.6%, to 70.26, after Credit Suisse First Boston downgraded the stock to neutral from outperform, ahead of UPS's announcement.

Proposed payment reductions in Medicare drug-benefit legislation is pressuring shares of Lincare Holdings, which have lost 5.15, or 13%, to 34.

Brocade Communications Systems is down 97 cents, or 14%, to 6.18, after posting fourth-quarter operating earnings of 2 cents a share, in line with the consensus view of 2 cents a share. But the company sees a first-quarter charge of about $75 million to $85 million.

Among tech advancers, Autodesk is ahead 2.92, or 15%, to 22.33, after the software company swung to a profit in its fiscal third quarter as revenue jumped 24%.

A variety of factors are influencing the stock market Friday, which marks the end of a week largely spent selling, with terrorism concerns among the catalysts. Recent dollar weakness and trade issues are also worrying investors.

"On the one hand, earnings momentum continues to be there but is counterbalanced by worries about the dollar and creeping protectionism," said Uma Rajeshwar, portfolio manager at Glenmede Trust Co., referring to the Bush administration's decision on Tuesday to impose temporary quotas on some Chinese textile imports.

The expiration of options also may cause price fluctuations.

All told, the Dow Jones Industrial Average is up 4.08, or 0.04%, to 9623.94, the Nasdaq Composite Index is up 7.98, or 0.4%, to 1889.85, and the Standard & Poor's 500 Index has added 0.40, or 0.04%, to 1034.09.

The Russell 2000 Index is up 2.27, or 0.4%, to 525.36, and the Standard & Poor's SmallCap 600 Index is ahead 0.37, or 0.1%, to 256.60.

Volume on the New York Stock Exchange is 596 million shares, with up volume ahead of down, 330 million to 256 million. Advancers are outpacing decliners, 1,812 to 1,286.

Volume on the Nasdaq is 806 million shares, with up volume ahead of down, 439 million to 351 million. Advancers are outpacing decliners, 1,531 to 1,389.

-By Cynthia Schreiber, Dow Jones Newswires; 201-938-2408 cynthia.schreiber@dowjones.com.
(END) Dow Jones Newswires

November 21, 2003 12:37 ET (17:37 GMT)

closed both the shorts off at 9601. So made a profit 120nett (after losing 120 on the long)

I'm still short Zarif at 9625.
Fingers crossed for the run in.

Not looking good for me