Anyone scalping the FTSE Futures??

[DaddyJohn]

getting ready to catch the knife :|

didnt hurt too much

 

[jackypw]

Dont think it's a good idea DJ, this time the selling is serious and a little bit panic with uncertainty

no one will buy before the downgrading thing announced.

 

[DaddyJohn]

1273 good support as I said.... will come back down to test of course.. this might push ftse down to 5530/36 (futures) .... so FTSE gap filled and ES value gap filled..

 

[DaddyJohn]

that will do for me.. got some nice siwngs down and that swing up from the low..

this news is nothing new.. just an excuse to take profit and fill some gaps.. catch you all later

 

[Dick Lexic]

i got targets up to 5750 cash but i'm cautious with that volume
1 it was selling
2 it's what wee need for the big push through
3 it was my aunty mary selling her tsb shares
hmmm

well it wasn't aunty mary after all

 

[MartinC-J]

p.s I aint looking for big puh downwards.. so not letting these run for very long..

John, I've been out for the last few hours and I cam back to your last comment. I don't think any of us were looking for a big push downwards, but we sure got one. It explains the highs in the bond market this morning. News had leaked to someone.

 

[MartinC-J]

1273 - 1274 good support on ES

Good call John. I jumped in on the FTSE but only rode it back up for 5 pts. Being away from my desk means I didn't have my finger on the pulse and I should have let it run a lot more.

This ratings downgrade has been clearly telegraphed. The market was forming a top and needed to pull back again. The news out of the US is still good, and the U of Michegan number was swallowed up by the eurobabble.

 

[Dick Lexic]

getting ready to catch the knife :|

i've been there ....literally 1click and your in then a few seconds later your out with a nice profit. but beware even with the numbers and the symmetry you will get the one that will roast your heart

 

[Dick Lexic]

Going by the closing value on the last bar this is the cash market. But the value for the volume is strange and does not look correct. I may be wrong, but I have no idea what those values are showing.

i have just checked the volume on yahoo it more or less confirms yesterdays increase but not the weekly.

 

[DaddyJohn]

i've been there ....literally 1click and your in then a few seconds later your out with a nice profit. but beware even with the numbers and the symmetry you will get the one that will roast your heart

you are right Dick... for any newbies out there, catching a falling knife is very , very dangerous... but this is the first time you have seen me do it Dick.. I dont do it as a rule.. but the technicals and bull**** news flow was perfect for this..

Again... for anybody without significant full-time experience of day trading .. catching the knife can seriously damage your account.

 

[barjon]

Not sure what futures charts you guys use, but I found comparison between futures and index (cash) quite interesting.

You will see that futures (on the left) draws narrower s/r ranges - presumably because the later close allows more reflection of US happenings - and you will also see the cash seems to pay more respect to those s/r ranges - and not, maybe, just because they are wider.

 

[reksa]

We will find out today if the France downgrade has been really priced in, around 2pm with the bond auction results.

 

[reksa]

Not sure what futures charts you guys use, but I found comparison between futures and index (cash) quite interesting.

You will see that futures (on the left) draws narrower s/r ranges - presumably because the later close allows more reflection of US happenings - and you will also see the cash seems to pay more respect to those s/r ranges - and not, maybe, just because they are wider.

That is interesting. Not sure that would be what I would have expected.
I see you was using ProRealTime. What indicator was you using Barjon?

 

[barjon]

That is interesting. Not sure that would be what I would have expected.
I see you was using ProRealTime. What indicator was you using Barjon?

no indicator, reksa, just drawn (rectangle tool) by hand.

 

[barjon]

ftse flying solo today with US holiday. we got 8:30 reversal try and the 9:00 which might fare better. I was late on parade so won't pay attention 'til 10:00

 

[Dick Lexic]

having problems with my computer today...getting message "script not responding" whatever that means

 

[YouAreNotFree]

ftse flying solo today with US holiday. we got 8:30 reversal try and the 9:00 which might fare better. I was late on parade so won't pay attention 'til 10:00

The first hour range is a beautiful thing. I find there is plenty of good trades around it (short today at upper range for example).

 

[reksa]

The first hour range is a beautiful thing. I find there is plenty of good trades around it (short today at upper range for example).

And still in the range. The day started out with much promise. But 11:30 onwards has been rubbish and no US to give us some action.

 

[Dick Lexic]

" I had a dream" it would go up today.

i remember MLK

 

[MartinC-J]

Bit of a quiet day again, thanks to MLK, but interestingly again we had the situation of the ES and FESX breaking out to higher levels and the FTSE determined not to do so. Instead it made a double top and then went down to test the low, retracing almost all of the way and bouncing off the less common 88.6% level. Then it just did a slow and steady slog back up to the highs, finally breaking out to a new high at 4pm, but not by much.

For the ES, I would like to see some kind of pullback to the 50EMA on the daily, around 1243, before a decent move back up. We've got Citi at noon and Wells at 1pm tomorrow. I expect to see a sell off after they have released their results, which is the norm for these guys.