Anyone scalping the FTSE Futures??

larry elliott yesterday questioned the boe forecasting record

Our economics editor Larry Elliott calls the Bank of England's forecasting record to account.

Larry asks:

You failed to spot the recession in 2008, you failed to spot the flat-lining economy in 2010, and now you've failed to spot the stronger recovery. How can we have any faith in the forecasts that underpin forward guidance?

Carney defends the Bank's record, says that it's confident that it's predictions are on the right path. He adds, though, that he's trying to make the forecasts more transparent to that doubters can better understand the bank's thinking.

He then bats the question over to chief economist Spencer Dale -- who says that weaker global demand was one reason the Bank's UK growth forecasts were too optimistic in the past.

Dale also argues that the real power of forward guidance is that people understand the Bank's approach to monetary policy, rather than its forecasts.
 
mornin' all

ftse opened -28 weak vs dow after a net -55 weak day yesterday. My bacon was saved yesterday by a burst of strength between 3pm/4pm, but I'm long/short again today already albeit nervously 😆
 
SuddenDeath said:
morning barjon

ftse has severely underperformed dow. dow making new highs ftse about 130 below
Click to expand...

aye, generally it's still oscillating between relative weakness and strength, but the weaknesses are far outstripping the strengths. Yesterday it was weak throughout (on my hour by hour record) except for that one hour which pushed me into the green although not by much - took it gratefully given the way the day had gone.

Today's doing better so far but I can't help feeling that ftse is nervous about being up here at the moment.
 
barjon said:
aye, generally it's still oscillating between relative weakness and strength, but the weaknesses are far outstripping the strengths. Yesterday it was weak throughout (on my hour by hour record) except for that one hour which pushed me into the green although not by much - took it gratefully given the way the day had gone.

Today's doing better so far but I can't help feeling that ftse is nervous about being up here at the moment.
Click to expand...

ftse seems to be limited by the implied volatility, iv implied ftse could not get passed 6760, and this acted as resistance pretty well on closing basis

think may have to do iv for dow.
 
barjon said:
aye, generally it's still oscillating between relative weakness and strength, but the weaknesses are far outstripping the strengths. Yesterday it was weak throughout (on my hour by hour record) except for that one hour which pushed me into the green although not by much - took it gratefully given the way the day had gone.

Today's doing better so far but I can't help feeling that ftse is nervous about being up here at the moment.
Click to expand...

It's bang on the 50% level
 

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mmm, it's given up that early relative strength now and traded the first hour flat. I'm beginning to get my toes a bit wet 😆
 
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