The FTSE

[downbytheriver7]

I was stopped out at 5620 this morning with my March Ftse short, bought at 5604. I will watch with interest on Thursday and Friday to see how high it goes, before getting in with another!

Shorting my second lot here, next lot around 5700, target atleast back to 5550! Low volume on the last 5 days as expected makes me think from the charts we should atleast look to fill the gap from 5550 as the holiday festive cheer wears off and the end of year window dressing does..Interestingly enought the last 2 weeks the FTSE has broken out its tradition of following in the foot steps of the DOW which is off its highs rather than at new highs.

 

[kriesau]

5:33am 12/29/05 GFK: LOWEST UK CONFIDENCE SINCE MARCH 2003

5:32am 12/29/05 U.K. DEC CONSUMER CONFIDENCE IS -9

Hi Joules - Long time no see - Happy New Year !

Any thoughts on FTSE direction over the next 2 to 3 weeks ?

 

[ukhero]

Dave, and Downbythe river,

I think you've both Shorted too early. Historicaly the last week of the year has, on average, done well, so has the first day of the year. I'd wait until the FTSE shows which hat it will wear early on next week. Just my pennies worth.

Happy trading

UK

 

[ukhero]

The FTSE Friday, 30th December 2005

Thursday's results:
Open: 5622.
Close: 5638, up a handsome 15pts.

Range: 5622 - 5647.

Last 5 trading days: up 91pts. Too heavy, and based on data there is a strong possibility of a 50-70pt drop in the first week of January.

On the Month: up 215pts. Very strong for the month and as such January is looking a touch pale in regards to continuing this upward surge.

Dow: 10,784, down 11pts. It slips and slips again.

Last 5 trading days: down 47pts.

On the month: down 22pts.

News items of note:

LONDON (ShareCast) - 'London's leading shares are moving ahead, receiving a helping hand from miners despite light trading and with no major news announced. Mining stocks are in demand on hopes for an equally buoyant 2006 with no signs yet that China's insatiable appetite for raw materials is waning. Xstrata , BHP Billiton , Kazakhmys , and Rio are up handily. Oil stocks have also bounced on a jump in oil prices yesterday after reports that OPEC is considering a cut in output. BG Group (LSE: BG.L - news - msgs) is leading the recovery. Housebuilders are also doing well on a big jump in mortgage approvals in November compared with the same period in 2004. Persimmon (LSE: PSN.L - news) is Footsie's best performer on the news.' - Having followed them for nearly a year I decided to go Short on Rio Tinto, Durrrr!

Charts, and nothing but the charts: Thursday's had no clear indication. Friday's say a 55% chance of a rise.

Companies reporting:

EARTHPORT PLC ; ENERGY GROUP PLC; EQUATOR GROUP PLC; IMS MAXIMS PLC; SEVEN ARTS PICTURES PLC; CAMBRIAN OIL & GAS PLC; SPIRITEL PLC; DAEJAN HOLDINGS

Economic Data:

07:30am, UK Nationwide Hse Prices [There's been a lot of debate in this area of late. Should prove interesting].

The FTSE tomorrow based on present news and data: it's certainly not the DOW's month but its minor slip today will not effect the FTSE; the miners were the main stay of the FTSE's rise today but don't believe they will add any additional input tomorrow; charts are not clear but err towards a possibility of a small rise; daily News will once again be the deciding factor.

Early gut feeling: As the charts say, a 55% chance of a rise. It's too close a call.

Will I bet? Cancelled my Long on the DOW for a disappointing 12pt gain and a Short with Rio Tinto for an embarrassing loss. I've now ploughed every thing I have into Google, went Short at 423.67, now 420.60. Bad news is, the market closed at 20:50pm and not 9pm. We live and learn. I now have to wait until 14:40pm tomorrow before releasing funds. So let that be a lesson to any who bet on individual shares -CHECK THE MARKET CLOSING TIME.

If you are betting: make your own decision, watch the markets open and do read the news for clues as to which way the FTSE may go.

Yours

UK

 

[ukhero]

US futes have taken their cues from the FTSE and DAX and are under some pre-open pressure.

The pattern in the FTSE has clear impuslive qualities and is now near the session low. How it retraces will give a clear signal as to whether we have seena much l;arger degree of trend direction change.

Intra indicia has pre-empted the move with divergent signals at several time frames going into todays decline and continues to concur the downmove today.

Joules,

Wish I could join you in your FTSE short today.

I'm watching the markets and as I write:

Dax down 61
Nikkie down 285
FTSE down 32 @ 5604. It looks like the bears are dumping some of their earlier weekly gains.

As the FTSE didn't hover around the 600 mark on the way up I wonder whether it'll march past it on the way down.

In all, I would say its the end of year blues and the markets should end the day round-about where they are now.

UK

 

[ukhero]

General thoughts:

Should we carry on this thread or start anew: ie: FTSE 2006.

Feed back needed. thank you.

 

[mickandpete]

A New Year a new thread.
However it would be very useful to carry a link to 2005
Perhaps UK as the main contributer could carry it as his signature.
Anyway what ever,heres wishing all "A healthy New Year"

 

[downbytheriver7]

new year ....new thread.....and a happy new year!