FTSE 100 August 2004

[bracke]

Good Afternoon One And All ( that still makes 1 )

Took the oportunity to go out this morning as there was no gap to trade.

The dow gapped down on opening yesterday by 30 points and has not yet filled it. No I have not traded it because I don't know if the dow is as keen to fill its gaps as the ftse is. I am boing to monitor them over the coming weeks.

Regards

bracke

 

[barjon]

Putting up the monthly chart just to show what a miserable instrument ftse has become in terms of monthly ranges. Also yet another opportunity to show how well the long-legged doji called the bottom and how the hanging man followed by doji called the recent top.

So far as recent action is concerned, the tested support just below 300 is clearly crucial southwards - might find some initial support around 326 (mid-point of long white) on the way if we move in that direction. Northward, the resistance points seem pretty straightforward.

A volume pick up in one direction or the other should give the clue :?:

Good trading

jon

 

[Second income trader]

Question re. FTSE100 Volume

I'm new to trading, just doing lots and lots of reading for the moment , so I couldn't believe what a fantastic site this is! Would anyone recommend any particular system/indicators for swing trading the FTSE?

One other question having seen the last post, does anyone know any websites that give the volume figures for the FTSE100? The sites I use don't provide that info, thought they do provide it for individual stocks.

Many thanks.

 

[barjon]

kensitp

welcome to T2W - glad you like it.

Marc Rivalland on Swing Trading is quite a good start. You can find it on Amazon (maybe a second hand copy)

Yahoo Finance includes volume I think. Certainly on the intraday charts.

Hope that helps.

Good learning (and then good trading)

jon

 

[bracke]

barjon

Whether the volume is low, medium or high the ftse direction is largely driven by the US.
Perhaps the volume increases the momentum but I am not sure of that as relatively large volume in a quiet market can have equal effect.

kensitp

For ftse volume try the yahoo site, finance, ftse100, historical prices.

Regards

bracke

 

[barjon]

barjon

Whether the volume is low, medium or high the ftse direction is largely driven by the US.
Perhaps the volume increases the momentum but I am not sure of that as relatively large volume in a quiet market can have equal effect.

Regards

bracke

bracke

mmm, but not exactly (mind you I can't adjust for £/$ changing realtionship :!: ). To my mind the relatively low volume over the last couple of weeks indicates a lack of enthusiasm to go either way. This may be down to uncertainty about DOW direction (where volume has not be down to the same degree) or whatever. In any event a sustained move accompanied by good and rising volume may well gives us the clue as to whether the intermediate downtrend is to continue or not :?:

regards and good trading

jon

 

[Second income trader]

Thanks

Thanks for the prompt replies!

 

[bracke]

Good Afternoon All ( the all is somewhat optimistic )

Isn't it interesting to see what the failure of oil price to reach $50 will do.

Hallelujah, Hallelujah. Rejoice, Deliverance Is At Hand.

Is my cynicism showing ? Must be careful to trade what I see not what my cynical HP thinks.

I saw a gap up on opening this morning and took a short on the Sept Future at 4420

The chart below shows the two long bars to take ftse over 4400 and 4420 and the large volume that went with them.

What are the rest of you doing ?

Regards

bracke

 

[FetteredChinos]

morning bracke.

decided to trade the FTSE this week. currently short from 4408, 40 point disaster stop, target 4382 minimum..


lets see...

 

[bracke]

morning bracke.

decided to trade the FTSE this week. currently short from 4408, 40 point disaster stop, target 4382 minimum..


lets see...

Slumming on the ftse FC, things must be bad.

Was your short generated by Genisis or was it a homegrown one ? Is it a monthly future ?

Regards

bracke

 

[FetteredChinos]

genesis all the way tiger...

though having spoken to Hooya, the actual short should have been from 4414. he is doing more dynamic calculations. rather than updating the paramaters every few weeks., i think he is doing it on a weekly basis. good for him...

tis on the cash index, currently a bit the wrong side, but unless funny things happen, the up-move seems to have lost some steam...

 

[bracke]

genesis all the way tiger...

though having spoken to Hooya, the actual short should have been from 4414. he is doing more dynamic calculations. rather than updating the paramaters every few weeks., i think he is doing it on a weekly basis. good for him...

tis on the cash index, currently a bit the wrong side, but unless funny things happen, the up-move seems to have lost some steam...

I thought Genesis was the brainchild of dc2000, what has hooya got to do with it ?

Am I correct in thinking that the cash index is daily ?

Regards

bracke

 

[FetteredChinos]

yup, correct on all counts..

hooya is also a "user" of the system. he is currently reviewing it and i think will be posting his review on Tactical trader.

im going to post a review on here in a couple of weeks time i think.

FC

 

[Hooya]

HI guys...yup I've got Genesis as FC says. Will be posting an intial review next week...an im sure it will go on the major bbs. Im looking at it as unbiased as possible so dont expect any DC bashing or praising. It will be purely based on the material I gto sent. Should be interesting. Hope everyone is doning well here

 

[alliance]

Afternoon one and all!

I too went short earlier...@ 4421 (IG sept)
Seems that for once we are all singing from the same hymn sheet

 

[bracke]

yup, correct on all counts..

hooya is also a "user" of the system. he is currently reviewing it and i think will be posting his review on Tactical trader.

im going to post a review on here in a couple of weeks time i think.

FC

Is your trade a proper one or paper one ?

I am looking for gap closure to 4369 or close to.

Regards

bracke

 

[bracke]

HI guys...yup I've got Genesis as FC says. Will be posting an intial review next week...an im sure it will go on the major bbs. Im looking at it as unbiased as possible so dont expect any DC bashing or praising. It will be purely based on the material I gto sent. Should be interesting. Hope everyone is doning well here

Hello Hooya, nice to hear from you again, would be pleased to hear more from you. Unfortunately we appear to have lost mully.
Will look forward to reading your review of Genisis.

Regards

bracke

 

[bracke]

Afternoon one and all!

I too went short earlier...@ 4421 (IG sept)
Seems that for once we are all singing from the same hymn sheet

I'm not certain I like this all taking the same view , it makes me uneasy. Are we all being conned into the same short trades.

What is your target exit for the short ?

Regards

bracke

 

[FetteredChinos]

yup this is a real trade. going easy with a small £5 stake until im sure that Phil Collins really does control the markets...

 

[barjon]

I'm not certain I like this all taking the same view , it makes me uneasy. Are we all being conned into the same short trades.

What is your target exit for the short ?

Regards

bracke

You're all on safe ground - I'm still long, 'til it breaks below 410 anyway.