DOW 23,000+ today?

[Grant 302]

Maybe...I was thinking last Friday that 27,000 was possible this week. Would be another good reason to celebrate!

I remember '76...good times.

 

[302BOB]

I remember '76...good times.

+1 and then some!!!!!!

 

[Grant 302]

Too bad the market is already closed (3 hrs early). But nice way to close on a solid new high at 26,966.00 +179.32

 

[Grant 302]

I was thinking last Friday that 27,000 was possible this week.

Gonna be tomorrow.

 

[TymeSlayer]

May have to wait till next week. And I thought a good jobs report was good for us...

"Stocks retreat from record levels as strong jobs report puts interest-rate cuts in question"

 

[Grant 302]

Just wait for it...massive bounce so far. That’s why I ignore headlines like that. They often tell you the exact opposite of what the market (eventually) does.

 

[Grant 302]

Or even look at the intraday action on Wednesday. The move was pretty sharp and right to the close. Morning shorts were thinking they were pretty smart only an hour ago. They’ll keep covering as and if things go up from here.

 

[Grant 302]

Might have topped out for the day, and still a little in the negative in the -40s but that's relative to more than -220s an hour and a half in. Still two hours to go, and I'm not ramping up the hedges to the downside unless there's a big spike up toward closing.

 

[Grant 302]

26,922.12 -43.88

Not the green close I was hoping for or the 27k...but solid bullish price action through the day. Most of the price action was above ~26,900 level, where the biggest price/volume weighting was. Closing and crossing above that in the last few minutes are both bullish indicators.

With a new end of week high and all time high on a fairly continuous run, the 'breakout' I've been talking about is in progress. Don't let the headlines sway you from any bullish convictions right now.

 

[302BOB]

That 27 number may take a little longer than expected......but it will get there....................

 

[byronj]

Can we update the title thread to DOW a0almost 27,000 this month ?

 

[302BOB]

Can we update the title thread to DOW a0almost 27,000 this month ?

This is Grant's baby...Maybe he's waiting til the 28K mark?....That will come as well................

 

[Grant 302]

Can we update the title thread to DOW a0almost 27,000 this month ?

Spoken like a Hawaiian local...Can, but no can.

I like that the 23k title 'reminds' me of where the market was. A prediction for near 30k, isn't so bold in that context.

This is Grant's baby...Maybe he's waiting til the 28K mark?....That will come as well................

Baby? no...can't say I see it that way. Like any part of this forum, I want it to encourage discussion...even if it's more of a dumping ground for my thoughts. Making predictions is no good if you can't remember the bad ones.

 

[byronj]

Good point. I just just chuckle now when I see the 23,000 + today title.

 

[Grant 302]

Good point. I just just chuckle now when I see the 23,000 + today title.

That's a good point. Might make somebody crap their pants too.

 

[byronj]

Maybe...I was thinking last Friday that 27,000 was possible this week. Would be another good reason to celebrate!

I remember '76...good times.

Ha 76, I was a baby.

 

[302BOB]

Baby? no

Baby of yours maybe not so.But a concern and topic of discussion, definitively so...Money will do that some tyme................You reap what you sow, but the reverse may happen, also..........buyer be ware................no risk, no gain or no risk, no pain/loss....tough call.............

 

[302BOB]

This is NOT a bad omen for anyone!!!!Best of luck/fortune on ALL your endeavors...............carry on.............

 

[Grant 302]

Ha 76, I was a baby.

I'm still a baby. Big frickin' baby.

Baby of yours maybe not so.But a concern and topic of discussion, definitively so...Money will do that some tyme................You reap what you sow, but the reverse may happen, also..........buyer be ware................no risk, no gain or no risk, no pain/loss....tough call.............

While that is mostly true...it's missing one *big* concept...and that's hedging. Done correctly, and you never have to lose money again. Ever.

 

[Grant 302]

Soooo close to 27k...at least it hit a new all-time intraday at 26,983.40.