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Posted by btr Fri, 16 May 2003 21:50:46 GMT
DOW closed @ 8,678.97. It's still in the uptrend, but it seems stalled a little bit. Russel 2000 dropped to 414.69. NASDAQ closed @ 1,538.53. If it's not topped, it's close.Posted by btr Thu, 01 May 2003 03:24:04 GMT
I learned from co-worker that our company's 401(k) plan allows end-of-day trading. Previously I thought it would only post transactions once every month, which would make swing trade very hard. My plan is to select a few mutual funds as trading vehicles and swing trade them. Holding time will be weeks or months. The goal is to catch big trends. All cashes will be swept into GIC fund accruing interest daily. Sold 30% position on OAKMX at DOW resistence level 8500; OAKMX follows DOW closely; sell 1/2 position at next level 8700-8800 or if current uptrend reverses. Hold LSCRX which follows RUT closely. It's still in uptrend.MARKETS: Deep Blue says: "The subprime problem we were told would not spread to other markets. It would be 'contained'. And it has, according to Jim Grant. Contained on planet Earth." (Ha Ha!) This is a Jim Grant kind of time now, right?....And indeed the subprime melt really has spread everywhere: more
The Hesse state election is a bellwether for the chancellor and possibly for the future of German party politics, writes Constanze Stelzenmüller more
Hong Kong and Mumbai stocks took a tumble late in trading after news that French bank Societe Generale will have to raise €5.5bn because of trading fraud more
Venezuela's new currency will not cut inflation
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Duru just wrote an article about Black Swans and it’s very timely given the news about this rogue trader at Societe Generale. That trader was hiding losing futures trades that caused the bank to take a $7 billion loss. My first thought upon hearing that was “don’t they have a bac more
After a day of consolidation in the broad stock indices, MSFT is slated to release earnings after the close along with Amgen. Taking a look at the daily chart of the S&P 500 index, what we have so far is an untested spike bottom on this time frame. I imagine bullish traders will be [...] more
Stocks posted modest gains and commodities rallied across the board as investors continued to bet on a supply of cheaper dollars from the Federal Reserve. Futures on everything from gold to corn to lumber to oil climbed. more
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