Baillie Gifford Us Growth Share Discussion Threads

[jeroo] 23/12/2003 12:40

The YM currently hovers at around 25 points discount to cash intraday so that would bring the INDU to around 10190? There may well be stronger support at 10140-50 area on the cash (10115 - 10125 March contracts) as I've highlighted on the chart in post 34283 but that seems a fair way off just now but as you say, low volume could see exaggerated movements either way. Personally, I wouldn't hesitate to short 10500 and I have already placed orders on and around that level. I live in hope ....

I'm trading the YM March contracts myself here and not the cash market so I'm with you on that one.

[bigmolly] 23/12/2003 12:30

jeroo....I have 10165 as a weekly fib on 61.8% which to be honest i convinced myself we were going to yesterday....silly voices in the head....by the way that comes from last monday's low and Friday open.

It would be nice if we visited it today

edit..sorry that on YM March not cash

[jeroo] 23/12/2003 12:28

It's not aimed at anyone specifically of course.

PS My local Sainsbury's is selling JD single malt (the square, squat shaped bottle with a wooden stopper and longer neck) for the same price as the blended - £14.99. It retails from £35 - £39 elsewhere. Being a huge fan of JD, I have 4 bottles myself plus a nice bottle of Wild Turkey as well. Cheers!

[thedickster] 23/12/2003 12:19

PMEAS is a builder who likes Jack Daniels (i think), and as such i think he is a better bet than Abbey Joseph Cohen ;-)

[jeroo] 23/12/2003 12:16

Whilst I have the greatest respect for all traders that post their comments here, if would be useful to if they were qualified in some respect.

[jeroo] 23/12/2003 12:11

10400 being resistance from 2002? 10180 - why so?

[stormforce] 23/12/2003 12:04

and you pmeas...and remember ...a turkey is not just for christmas day..its for the next day...and the day after...and the day after that!

[pmeas] 23/12/2003 11:58

Up to 10,400 down to 10180.

Have a great christmas catch ya all in the new year.

Gone

[jeroo] 23/12/2003 11:41

I wonder whether a fall (when it comes) will actually attract buyers first time round. If it does not, then 10150 looks a very interesting long opportunity but failing that, 10120 followed by 10020. This is based purely on previous resistance and support on the way up. Although there hasn't been any bad news (apart from the odd scare story), with each rise the odds of a pullback increase wouldn't you say?

[patel investor] 23/12/2003 11:27

dunno jerro 10250 maybe

[jeroo] 23/12/2003 11:09

Steven Hochberg - Elliott Wave International.

Anyway, I get the feeling that the market has become over indulgent and so to fat on the profits made this year. It's time for the market to go to the gym and slim down a bit. What do you reckon? Perjaps the pullback you want is close now. Out of interest, and if you don't mind me asking, how great a pullback do you see before entering into a long position?

[patel investor] 23/12/2003 10:47

not heard of that one jeroo

[patel investor] 23/12/2003 10:26

whose that jeroo

[jeroo] 23/12/2003 10:24

PI - You may be interested in these comments from your favourite(?) commentator:

"Forecast December 22: - 5 business days to go! (Dec 23, Dec 24, Dec 26, Dec 29, Dec 30!!!!) After December 30, the market has no more support from the stars and thus it MIGHT fall incredibly QUICK and STRONG."

I might not be able to resist a short here ... it reminds me of a spinning top that is slowly winding down, losing momentum, about to get all out of shape, wobble off it's centre and end up on it's side.

[thedickster] 23/12/2003 08:22

closed Fridays shorts for -15 pts yesterday, succumbed to inevitable XMAS shopping YEUCH. Didn't really watch price action after 2 p.m.Amazed to see it closing firmly above 10300. I have around 10386 ish for a target from the push from 9275 ish in late October, consolidation flag exited upward on around Dec 3rd , say 10400 to be safe. Thought this would be hit next year! Today more likely. Unreal price action, but real enough cos its there in PRINT lol

[jeroo] 23/12/2003 00:38

Interestingly, the economic reports scheduled for today (Tuesday) should not move the market since Personal Income and Spending can be calculated out of the last non-farm report and GDP is a final number. The Michigan Sentiment is a revision and expected to fall slightly.

Although I'm not trading until after the new year, I wouldn't half fancy a pop at a short here. The market has become a little to blasé of late.

[patel investor] 22/12/2003 21:20

no bm ...i want to get a pull back first

[bigmolly] 22/12/2003 21:16

Mondial will let you know.....

Well what can I say, stopped whipped and stopped again again and again.....not a good day for me....low volume and a major push in the last hour...

ALL my Dow indicators in all time zones now very stretched, something will have to give here....

Patel..you long then?

[pherring] 22/12/2003 21:00

well, my one and only New Year resolution this year is that I will be joining the Federal Reserve and playing with their *$"^&>?@*!% manipulation and not against it. This man will be my friend: