Wt Indu Metals Discussion Threads

[dave37] 26/5/2006 18:48

I think wait and see.........new highs in run up to nxt fed meeting..end jun.

if rates go up, market comes down but methinks punters are expecting no rate increase anyway.....

allegedly..

[spec97] 26/5/2006 18:46

No joe, if that were the case, the indices would be sub 11000 by now ;-)

But (short term) bears must remember that window dressing and the positive seasonality *after* the Memorial day holiday do not make a market collapse likely...

conclusion: keep profitable longs running but stay in cash if you are not already in a position IMHO.

[brer rabbit] 26/5/2006 18:36

No.

Edit: To paraphrase a politician, let me be perfectly clear - yes, and no. But not necessarily in that order. Allegedly.

[joe moon] 26/5/2006 18:35

so eveyone thinks higher then?

[easytimes] 26/5/2006 18:33

11550 sounds good to me, probably a grinding drive to get there though. Somebody needs to kick the donkey

[amarshak] 26/5/2006 17:47

hi brer yes i have add small shorts Sept futures will hold we could satrt the 5th wave down as from next week into 5/6 june then up around 11450ish then the slow slide down from end of july into Oct maybe 10k but me being awee bit conservative 10300 area. On the s&p max will be 1300/1290 so which roughly equates to around 11550 on the dow.

[brer rabbit] 26/5/2006 17:05

Yes, spec, re GM, I read that, too.
Amarshak, you holding? I'm still sidelined; frankly the INDU's very high RSI reading on my hourly chart (>86) coupled with a new downturn on the CCI, (among others) are what keep me stationary at the moment. 11266 as I type.

[tub of lard] 26/5/2006 16:54

I'd settle for 11350, spec.

[spec97] 26/5/2006 16:51

For the comment made by someone regarding GM earlier, it's not only the second upgrade in a week that is providing a boost, but also this morning GM said it will make a major investment announcement on Tuesday morning...

[jack tile] 26/5/2006 16:47

A plus is a plus is a plus.

Still long and happy.

Have a good w/e all.

[spec97] 26/5/2006 16:44

11350 will come before any supply appears IMHO.

[harry_potter] 26/5/2006 16:44

38% retrace from 11044 is at 11280, so it may struggle here for a bit.

[edwood19] 26/5/2006 16:41

thanks Amar

incidentally, a move like that is referred to as a "long pole" and the move out of it, whichever way, should be strong once we get a clear signal - might take couple of weeks to get a signal tho, depending on volatility of course

[amarshak] 26/5/2006 16:38

Hi ed Jun 29 th

[edwood19] 26/5/2006 16:29

just closed a long for 19 pts - looks like I was too early but away for a few days now and don't want to leave anything unattended in these markets

thought I'd take a look at the pnf for some longer-term guidance but no help whatsoever! two inactive counts coming out of this move, down to 10,020 and up to 12,760. we'd have to make a new yearly high to activate the higher one, and need to hit 11060 to activate the lower one...

anyone know when the next Fed rate meeting is?

[tub of lard] 26/5/2006 16:26

that would be nice.

[brer rabbit] 26/5/2006 16:24

I'll rub my lucky rabbit's foot for you, tub.

[tub of lard] 26/5/2006 16:22

I took a tentative long.

[tub of lard] 26/5/2006 16:21

if, what a very big word

[brer rabbit] 26/5/2006 16:20

Dow seems to be struggling to get higher to me, but higher none the less, so no pos by me on her yet; GM "motoring" along nicely:)

[tub of lard] 26/5/2006 16:20

I saw sentiment was great, but if it can clear this hurlde then 10400 ?

[tub of lard] 26/5/2006 16:04

Bit of a quandry here, may trade long, though theres still downside in the system.

Closed other longs yesterday, too early again.

[edwood19] 26/5/2006 15:49

patience - easier when its not as volatile as it has been lately hey!

[amarshak] 26/5/2006 15:46

Hi guys hi Brer i hope we keep this thread in good order there is a lot of money to be made and will be good to get good exchange of ideas