i am sticking my neck out but i reckon we may get a bit of short covering soon. I would not be surprised to see a rally up to the 11250 area. I would probably be selling up there but I do think we will see some firmness come into the european indexes soon. FTSE trading on 12 times now- it is hardly expensive. Oil might have put in a bottom today as the close was a bullish reversal and that should help the FTSE as well. Gone long DJIA and FTSE at current levels. 11100 and 5528
leovirgo
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Pat494
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leovirgo said:
Thanks leo.
I am more of an EOD trader with the occasional look in to adjust the trailing stop should I be so lucky. Last time I had a go at entering the chat room I sort of couldn't. must have typed wrong entry code or something.
Racer
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Pat494 said:Thanks leo.
I am more of an EOD trader with the occasional look in to adjust the trailing stop should I be so lucky. Last time I had a go at entering the chat room I sort of couldn't. must have typed wrong entry code or something.
You don't need an entry 'code'
or have to pay any money!
DepthTangent
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You certainly do have to retain concentration for days like yesterdays session. Thats the worst aspect of daytrading IMO, waiting around for moves that sometimes take 6 hours to manifest.
macbonzo
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$SOX is on its knees again. One of the best gauges to market direction (especially in volatile conditions) is the $SOX. If it can't rally, the broader market will struggle.
I'm looking for a repeat of yesterday with a low in somewhere between 4.30 and 6.30
I'm looking for a repeat of yesterday with a low in somewhere between 4.30 and 6.30
Pat494
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Gurus on Bloomberg
A brief summary of Mark Sturdy and Robin Griffiths talking to lovely Sara on Bloomberg:-
There is a current head and shoulders reversal pattern on the major US indices but they expect a small rally in the next few days before another slide perhaps down to 1170 area for the S&P500. This could be down to say 5,000 on the FTSE by October and reversing back into a bull market for 2007.
The Nikkei is according to them going mostly its own way but presently in a consolidation phase. This phase will end in weeks for an uptrend to 19,000 level in coming months
A brief summary of Mark Sturdy and Robin Griffiths talking to lovely Sara on Bloomberg:-
There is a current head and shoulders reversal pattern on the major US indices but they expect a small rally in the next few days before another slide perhaps down to 1170 area for the S&P500. This could be down to say 5,000 on the FTSE by October and reversing back into a bull market for 2007.
The Nikkei is according to them going mostly its own way but presently in a consolidation phase. This phase will end in weeks for an uptrend to 19,000 level in coming months
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dcarrigan said:
Suite 10, Watergardens 2, Gibraltar
Dealers: + (350) 47312
ALL TIMES ARE BST
MONDAY-29TH-MAY-2006
Time Country Events/Data Expected Previous
U.K. AND US PUBLIC HOLIDAY MOST
MKTS ARE CLOSED
07-10 GER GERMAN GFK CONSUMER CONF.
08-30 ITALY REATILERS CONF. (APR) 103.7
ITALY SERVICES SURVEY (APR) 35
13-30 ITALY PRODI SPEAKS
ALL TIMES ARE BST
All Times are GMT
Why has it gone so quiet in this forum? Has everyone been burnt? All I see is tumble weed blowing in the forum aisle, a DOW sign, blistered by the sun, creaking with the wind...
Is this a ghost forum?
Did everyone go short today and are now on holidaying in Barbados on the rich winnings.
Will the last guy to post in this forum please turn off the lights!
...Click!
Is this a ghost forum?
Did everyone go short today and are now on holidaying in Barbados on the rich winnings.
Will the last guy to post in this forum please turn off the lights!
...Click!
macbonzo
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leovirgo said:
Well the VIX is way up at 18.4 again. Yesterday's selloff seemed pretty orderly (almost as if no one wanted to buy), but all 30 of the Dow components were negative. You tend to find that, in the last days of the month, hedge funds sell in the direction of the market (down). I would think, however, that with tomorrow being the beginning of the month, we should see money entering the market over the next session or two. If we finish down today, I will be sorely tempted to buy some contracts and see if the futures open up tomorrow.
It must be said, that, the use of variance swaps by hedge funds over the last 10 days has produced some very big moves towards the end of the day.
As usual, I suppose the advice is to trade whatever system/framework works for you, keep the stops in place and be patient. The beauty of this game, is that, you don't need to worry about missing an opportunity, another comes along very soon. Consistency is what you should strive for. Too many people will stare at a screen for 5 hours today then try to catch "the big move" at 7.00pm.
macbonzo
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I think you are right. Yesterday's action was quite interesting. Despite what the FOMC said, we rallied towards the end of the day. It was quite conceivable that we could have fallen back to a negative position. With May out of the way, I can see some fresh money coming into the market. I also noticed that for the first time in a while, $SOX put in a good showing.
