Sunday, April 27, 2008

Stimulant payment booster.

"Beginning Monday-four days earlier than expected, the effects of the stimulus will begin to reach households," President Bush said Friday. "This money is going to help Americans offset the high prices we're seeing at the gas pump and at the grocery store."
Who gets a payment?
$600 to singles making less than $75,000
$1,200 to couples making less than $150,000
$300 rebates per child
As of next week, 800,000 tax filers daily will begin to have their checks directly deposited Monday, Tuesday and Wednesday. No checks will be distributed Thursday, and 5 million payments will be made Friday.
Payments to taxpayers slated to get paper checks will start to go out May 9 - one week earlier than originally planned.
Checks are being distributed to people who file 2007 tax returns. Those who opt for direct deposit with the Internal Revenue Service will start getting payments before those who use the mail.

Tracking the Dow on Friday,25/04/08


9:30am--opening gap-up nearly 50 points.Any gaps-up will normally be followed by closing it back again.
10:00am--the Reuters/University of Michigan consumer sentiment index came in with its lowest reading since the early 1980s,the excuse to sell but normally at this time I'll open a long-position.
11:00am--Got hammered down lower.Couldn't manouver as postion hasn't close-out.Calculate:(High+Low)/2=MAV and watch closely the pattern in the next few hours.
12:00noon--index has approached the MAV.
1:00pm--it's still hoovering inches below MAV--no intention to close out,noticed many (+)dojis,sign of indecisions.
2:00pm--A bullish new long candlestick has made a breakout of MAV.What's up!traders has overcomed concerns about consumer confidence and inflation.
3:00pm--The advancing soldiers.Great!!
4:00pm--Close-out position.The final bell again saw a strong inverted bullish hammer.Great days ahead.

Friday's candlestick has a long lower shadow which is possibly kept for shorties in the event of bad news.Anyway the closing is half filling Thursday's upper-shadow waiting to move upward again.
With the FOMC in focus on Wednesday,the bets on rates cut is on again.
The main indicies are lying above the Bull Pivot,a sign of bullishness.