Anyone scalping the FTSE Futures??

will look for another entry in a bit my preference is for the FTSE to close slightly negative today
 
Hit my selling zone of 5345 as discussed this morning - and stopped.... mmmm where now??
 
DC did yu know there was a large $2bn option expiry this afternoon on dollar index? I am only just starting to factor option expiries inot my trading - is this likely to have a bearing this afternoon?
 
was short there at 5323 to 5302 - was expecting them to push price up again a bit ready for the US open ---- ooohh they are doing that as I write
 
currently have a dow sell 222 and buy 125 orders in for first hour and half
 
DaddyJohn said:
DC did yu know there was a large $2bn option expiry this afternoon on dollar index? I am only just starting to factor option expiries inot my trading - is this likely to have a bearing this afternoon?
Click to expand...

wasnt aware of it thanks DJ
 
wouldn't it be great if we could just get some more upside to take us out of this crappy doom & gloom sh*t and get back to normal markets.
 
Last edited:
dc2000 said:
wasnt aware of it thanks DJ
Click to expand...

I guess they will try and close the gap first. ES only needs to drop 4pts. Then maybe they will try up again to see if the high can be beat. FTSE stopped right on the 15th August Big Swing High at 5349.
 
well... that was sweet 5299 all the way down to 5270 - what a lovely week !!! many beers will be sunk and savoured this evening... many thanks all... have a good weekend
 
DaddyJohn said:
Ok , price below are FTSE futures. First let me give some thoughts on why I think we may have a nice rally this week, which could start either tomorrow or Wednesday , so I am preapred there maybe some downside before the push up.

1) FTSE is down -6.6% on the month driven mainly by Mining (-15%), banking sector is actually down only -3%. I have noticed strong buying coming back into oil companies of late even though wti and brent are much lower. Tullow oil was up 21% on the month , BP is down only -3.9%. Construction and Building materials is UP on the month +5% a very cyclical sector.

2) Copper is close to major support and is close to 50% retracement from its Nov lows to recent high.
3) The Euro / Dollar is now at 50% retacement of its move from June 2010 to May 2011 high.
4) WTI is at 61.8% retracement from its 2009 lows to recent highs
5) Brent is 38.2 % retracement.

Coincidence?? -
I also noticed a lot of buying of Oil and Mining stocks in the last hour of the cash trade on Friday. I for one will be taking some clues from Rio Tinto or AAL tomorrow.

In terms of levels (futures) I see a potential downside of 4927/54 if we break below 5005. Above 5094 then I am looking for 5170 and then 5220/35. I think a weekly target of 5300 is possible . Not sure how I feel about the 5700's , but some good news on ISM and NFP could indeed push us significantly higher.

In terms of ISM I expect this to be better this week now we are coming out of the summer. NFP is the woory, but the -48K AT&T strike count that was included last month will now be reversed and included in the number ... but the market knows this of course.

The Chines PMI Friday worried the market, but this is a survery of small business in China. The large cap PMI survey we say over the weekend was very bullish and record exports... the big negative for tomorrow is the franco/ belgium bank Dexia.

Happy trading
Click to expand...

Hi y'all

before I do sign off for the weekend I wanted to go back through the analysis I did at the weekend to look at why we thought the markets would rally this week. You see all the stuff we wrote about commodities and currencies etc.. reaching key fib levels. Then the next two days , the markets piled down and we were all a bit worried that we had been maybe a bit too clever (well I did anyway)... I wanted to try and understand what had gone wrong with the timing on this (though all has worked out since) ... I have noticed that the one index I did not analyse was the DOW cash.. that had NOT hit it's key retracement level of 38.2% ,, once it did then everything else did go up. In the process though it took many other instruments past their key fib levels. Check out the DOW cash index and look for yourself.

Anyway - lessons learned for the trading diary eh?
 
exited half DOW at 11124

looking to exit 2nd and go long under 11080 with 11065 just about right at the moment
 
now long on DOW 087 looking for 304 which should take the FTSE to new high
 
I am short from 5300 holding over weekend. Daily topping candle on FTSE at res and new downgrades of Euro countries announced.
 
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