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  • #264,581
  • Jun 29, 2010 7:15am Jun 29, 2010 7:15am
Breaking News Strikes in Athens, Greece, turn violent as police fire tear gas and stun grenades to disperse armed rioters
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #264,582
  • Jun 29, 2010 7:20am Jun 29, 2010 7:20am
Hey Mudd, nice avatar u have there
  • #264,583
  • Jun 29, 2010 7:26am Jun 29, 2010 7:26am
June 29

*Stocks were hit hard overnight in Asian trade. Shanghai led the way down with a loss of 4.25%, this index is now thirty percent off it 2009 rebound high. The Hang Seng was lower by 2.3%, the Nikkei dropped one and a quarter percent and Australia lost about 0.9%. European indexes are also a sea of red this morning, with the Dax and Footsie both currently down more than two percent. US stock futures are lower by more than one percent as I write.

*The Conference Board revised lower its leading index on growth in China to just +0.3% from a previously reported +1.7%, a move which is being blamed as part of the reason for the sharp sell-off in equities there.

*The May reading of Japan’s Jobless Rate was up one tenth on the month to 5.2%, but the expectation had been for a decline of one tenth.

*The May reading of Japan’s Overall Household Spending fell 0.7% on a year over year basis, the second month in a row with a decline of that amount, it had been forecast to increase 0.3%.

*The preliminary May reading of Japanese Industrial Production was -0.1% on a monthly basis, the estimate was for an unchanged result.

*More jitters in European debt markets. Some concern that many funds are going to have to exit their Greek bond holdings at the quarter end on Wednesday because of the downgrades this debt has experienced in recent months and there are more rumblings about Spanish banks having trouble with obtaining funding. Also the ECB’s EU442 billion 12-month LTRO funding vehicle is set to expire on Thursday and there is some worry about bank funding going forward. In addition the ECB is set to tender a 3-month fixed rate REFI on Wednesday.

*In May there were 49.8k Mortgage Approvals in the UK, according to the Bank of England. That’s the same amount as the month before and about one thousand below the estimate.

*The weekly report on chain store sales from ICSC showed an increase of 2.1% on a week on week basis for the week ended June 26. The Johnson Redbook report on the same thing is due out at 7:55am CDT.

*The April reading of the Case/Shiller Home Price Index is due out at 8:00am CDT, it is expected to be +3.4% on a year over year basis. The June reading of Consumer Confidence is due out at 9:00am CDT, it is forecast to fall about one point on the month to 62.5.
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  • #264,584
  • Jun 29, 2010 7:26am Jun 29, 2010 7:26am
Quoting T@rantula
Hey Mudd, nice avatar u have there
Capital Preservation is key to long term wealth accumulation
  • #264,585
  • Jun 29, 2010 7:27am Jun 29, 2010 7:27am
Quoting DMA Trader
Breaking News Strikes in Athens, Greece, turn violent as police fire tear gas and stun grenades to disperse armed rioters
Yep. It's on Reuters.....
  • #264,586
  • Jun 29, 2010 7:32am Jun 29, 2010 7:32am
deltastock?
and the forecast!!!!!!!!!!!
nah..sky must be smiling now.
Attached Image
  • #264,587
  • Jun 29, 2010 7:33am Jun 29, 2010 7:33am
Quoting trigg
Enter Short at 1.2363 with 5 positions.

Exit at 1.22

Profit: + 815 pips
  • #264,588
  • Jun 29, 2010 7:35am Jun 29, 2010 7:35am
Quoting cheagil
deltastock?
and the forecast!!!!!!!!!!!
nah..sky must be smiling now.
hey man I like you,
I am with you
I was with you from morning
A little beginner trader since 2006
  • #264,589
  • Jun 29, 2010 7:37am Jun 29, 2010 7:37am
Bulls are back? Smells like a nice retracement
  • #264,590
  • Jun 29, 2010 7:37am Jun 29, 2010 7:37am
Quoting trigg
Exit at 1.22

Profit: + 815 pips
Great, now lather, rinse and repeat.
  • #264,591
  • Jun 29, 2010 7:37am Jun 29, 2010 7:37am
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 38 KB
  • #264,592
  • Jun 29, 2010 7:40am Jun 29, 2010 7:40am
Quoting Naseri13
hey man I like you,
I am with you
I was with you from morning
thanks man..
i switch off my pc only on saturday or when my electricity is cut off for overdue payment..hihihi
  • #264,593
  • Jun 29, 2010 7:41am Jun 29, 2010 7:41am
Quoting T@rantula
Attachment
Careful here.....some Turn-n-Burn quality here.....but I'm unsure at the moment....let's see if it can reach the 38.2
  • #264,594
  • Jun 29, 2010 7:41am Jun 29, 2010 7:41am
Quoting T@rantula
Attachment

Until what point? Do you think Sostratos was right with the "bounce before drop" or it will go up from now? Thanks and good luck.
  • #264,595
  • Jun 29, 2010 7:43am Jun 29, 2010 7:43am
Quoting macsetta
Until what point? Do you think Sostratos was right with the "bounce before drop" or it will go up from now? Thanks and good luck.
2230

We will see...Need to touch upper hurst channel line. I havent seen Sostratos strategy....
  • #264,596
  • Jun 29, 2010 7:44am Jun 29, 2010 7:44am
Quoting Naseri13
so what ?
my view
2209 is a S/R point above that and with consolidation it will be a spike to 2285 . if it breaks below 2209 ,2162 is a great support...
  • #264,597
  • Jun 29, 2010 7:44am Jun 29, 2010 7:44am
Quoting macsetta
Until what point? Do you think Sostratos was right with the "bounce before drop" or it will go up from now? Thanks and good luck.
Sostratos changed their intra-day strategy (although the previous did score the take profit ) to : "Trade idea: Pause before Rise. The technical configurations favour a rise on the market after an initial pause to buying levels.
Details: The market is upside oriented today. However, before we expect an acceleration to the upside, the market will shape an intermediate setback. We
advise to play this bullish strategy when the market approaches the initial setback level at 1.2169, and as long as the market does not go below 1.2134. Once we see the buying level at 1.2169, we then anticipate a direct rise to 1.2264. Buy close to 1.2169 to play a rise to 1.2264. The invalidation level of this trade idea is at 1.2134.
"

Sorry too lazy to screen
  • #264,598
  • Jun 29, 2010 7:44am Jun 29, 2010 7:44am
Quoting PriceVolume
Careful here.....some Turn-n-Burn quality here.....but I'm unsure at the moment....let's see if it can reach the 38.2
Turn and burn and yea. Im watching it...
  • #264,599
  • Jun 29, 2010 7:45am Jun 29, 2010 7:45am
Quoting T@rantula
2230

We will see...Need to touch upper hurst channel line. I havent seen Sostratos strategy....
thanks!
  • #264,600
  • Jun 29, 2010 7:53am Jun 29, 2010 7:53am
To close to top of the channel for a LONG....no certain evidence, other than futures tanking, that EUR will drop.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Jun. 29 08.49.gif Size: 48 KB
Capital Preservation is key to long term wealth accumulation
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