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

Well that was interesting! Bought a single unit as it was pass r2 and heading north! (& not going to take a big risk!) looked like it would hit 103400 but didn't and pulled back slightly - the big question is will it try again!

Looks like it's about hit r3 103400

up 85 as I speak! unbelievable. Now I've got to figure out where to get in again.
hope you're still coining it lw.

just gone short - but only in a small way, just in case!

lw 10429 on the daily just hit. just looking at present and the upside is going like a rocket.lets see what the last half hour does. Did you keep hold on to your long or did u take the profit before hand. i am sure your short will pay.
rgds
zarif

lw,
you've got nerves of steel, obviously.
zarif does the same thing, betting against the trend.
I don't understand it.
every time I do it, I get creamed.

Chickened out at 10425 and went long again! I'm only doing small amounts now, just in case.

COPIED FROM ELSEWHERE:
29/12 22:07 Fed Sets Overnight, 4-Day RPs; Fed Funds At 1%

NEW YORK (Dow Jones)--The Federal Reserve is arranging overnight and four-day system repurchase agreements Monday, the Federal Reserve Bank of New York confirmed.
Federal funds were trading at the Fed's target rate of 1% when the central bank entered the market.
The Fed had been expected to execute overnight RPs.
-By Michael S. Derby, Dow Jones Newswires; 201-938-4192; michael.derby@dowjones.com
(END) Dow Jones Newswires
December 29, 2003 10:07 ET (15:07 GMT)

snoball - not sure what you've posted means! Is it good news or bad news?

If the current long backfired, I would get out quickly and call it a day, but so far it's seem to be working nicely!

I bet that feels better, lw -10445 as i speak.

lw, this is being supported by the Feds.
Not much point betting against them!

So it should carry on up?

Although, when the British Govt some years ago (was it Nigel Lawson) tried to support the , the dealers decided to have some fun, and well and truely screwed it!

Lw: looks that way. but i think it will retrace abt 50pts then up. well played today.
rgds
zarif

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!