Anyone scalping the FTSE Futures??

[Dick Lexic]

Dick, what is your thoughts on qtr end price action today? my view is that closing out short positions to balance the books , plus need to get price up to produce best qtr results they can for equity funds will push prices ups. Of course you could argue that banks need to offload risk assets to ensure balance sheet looks good at qtr end.

i only do charts i'm affraid. sometimes when i trade things pop into my head things that might be driving the market like bens speech, then i use price to work out what is happening or what i think they are up to. as for today i hope the ftse can close above 150 for the quarter this would keep me bullish but charts looking dire lately.

 

[dc2000]

morning chaps

all looks well so far I would really like to get a first hit by 9am apart from being good time wise we are back on the road today
the DOW I may take soon

 

[lurkalot]

long 5138

 

[dc2000]

Im in on the DOW 11101 and have left an order at 10995 I would prefer the FTSE to hit and the DOW not get down to that level

Im looking for big points off this in a small timeframe at least 300 today and similar monday but not holding over so may miss 100 or so

 

[dc2000]

Hmmm this is looking like a fade of target

 

[dc2000]

the pattern is filled with the early fade but not target a price better than 226 today would negate

 

[dc2000]

Im in long 5156

 

[dc2000]

target 5310

 

[dc2000]

off to see some castles in South Wales now catch ya latta

 

[MartinC-J]

DC2000 - great call last night on the Dow. You called the target of 10975 at 7pm on Wednesday, and it hit the target almost exactly last night at 8pm. Your time machine is working perfectly.

 

[MartinC-J]

The market is either treading water until the EU unemployment data is out at 10am, which I think is unlikely, but possible. On the 5mc, we have a descending triangle forming which should be good for a breakout up on any move that extends above the 20EMA.

Last year this day, the market ranged all morning until the US opened and then did a big rollercoaster.

 

[DaddyJohn]

I went short 5166... went on 61.8 pulback... will take half off soon and let the rest run to 5050 - then buy methinks

 

[DaddyJohn]

I went short 5166... went on 61.8 pulback... will take half off soon and let the rest run to 5050 - then buy methinks

mmm ... dont like volumes...have taken short for reasonable profit...back in long at 5141

 

[DaddyJohn]

if its gets above 5154 / 55 ... then it is a home run I think

 

[ordinaryguy76]

Could master dc teach us noobs how to become a successful trader using price action ?

 

[DaddyJohn]

stopped out on that long - will wait and see if we get above 5154/55

 

[MartinC-J]

John I take it that you are now posting cash prices and not futures price when you say 5154.

Looks like that european CPI data has spooked things a little bit. It makes it less likely there will be a rate cut by the ECB, and ever since the market has not known what to do. I tell you this swing trading lark is frustrating!

 

[DaddyJohn]

clearly I should have just left the short - DC and you guys must be using much wider stops than me

 

[DaddyJohn]

John I take it that you are now posting cash prices and not futures price when you say 5154.

Looks like that european CPI data has spooked things a little bit. It makes it less likely there will be a rate cut by the ECB, and ever since the market has not known what to do. I tell you this swing trading lark is frustrating!

I am using cash prices... so as not to confuse with DCs comments. Though I have noticed he seems to quote Ftse cash, but Dow futures

 

[lurkalot]

long again 5106