FTSE 100 August 2004

[peterpr]

peter

This is going to read like a reprimand, it isn't meant to be one and I am also aware that my trading skills are somewhat limited so I am in no position to query the trading of others.

bracke

Bracke

Observations appreciated and read in the spirit intended.

We all have our own little systems. Right now mine seem to be working out rather well (from a trading perspective that is) having moved from heavy intra-day to multi-day swing.

So far as the wider investing public and their equities-heavy pension funds are concerned - looks to me like they're going to take another caning over the next fews months and more -

That's Jeremiah speaking again.

 

[alliance]

Morning all!
After 4 attempts in 3 weeks to sustain sub 4300, it would appear that support there is very strong...for now From my reading of various analysis, it seems that even today, a move above 4317 could spark a mini rally/bounce. From this morning's action thus far..that would indeed appear to be a key area!

comments from bulls/ bears/handsitters welcome

 

[FetteredChinos]

FWIW ,im looking at selling the 4340 region, or buying the 4262 area... looking for 30 points in each direction.

i fancy a sideways/whipsaw day today, with the main moves occuring tmr and wednesday..

today might give me some time to do some real work and avoid the sack....



hope you all had a good weekend.

FC

 

[Sledgehammer]

LOL FC

where did you get those numbers from?

please don't give the game away!

 

[FetteredChinos]

what game are you talking about sledge?




cricket isnt looking too promising. threat of rain later too. wish the chaps would get a move on..

 

[bracke]

Bracke

Observations appreciated and read in the spirit intended.

We all have our own little systems. Right now mine seem to be working out rather well (from a trading perspective that is) having moved from heavy intra-day to multi-day swing.

So far as the wider investing public and their equities-heavy pension funds are concerned - looks to me like they're going to take another caning over the next fews months and more -

That's Jeremiah speaking again.

Pleased that you read my post in the spirit intended. I was aware when writing it that people in glasshouses shouldn't throw stones.

I neither agree or disagree with your bearish stance but if it is working for you that is the main factor

I have learned not to adopt an opinion on a medium or long term view as the markets often do not agree with me at the time. I find that I am usually too early and get caught out so I now go with the flow until the turn occurs.

I think that both Bulls and Bears could present good evidence for each of their positions.

May Jeremiah prosper

Regards

bracke

 

[bracke]

I had to go out this morning and missed the opening down gap which has now been filled.

Am I the only poster on this thread who looks to trade the opening gaps or are there any others ?

alliance

"After 4 attempts in 3 weeks to sustain sub 4300, it would appear that support there is very strong...for now From my reading of various analysis, it seems that even today, a move above 4317 could spark a mini rally/bounce. From this morning's action thus far..that would indeed appear to be a key area!"

What is significant about 4317 and are you going long if it is reached ?

Regards

bracke

 

[barjon]

I had to go out this morning and missed the opening down gap which has now been filled.


Regards

bracke

bracke

i don't call 5 points much of a gap but, as alliance says (pinching my script ) that support area held again and gave a good entry around 285 (still sitting with it)

 

[FetteredChinos]

nice 5 point range at the moment. i hope you are all making a killing....

 

[bracke]

bracke

i don't call 5 points much of a gap but, as alliance says (pinching my script ) that support area held again and gave a good entry around 285 (still sitting with it)

barjon

You are forgetting the previous bracke diatribe on gaps. Please pay attention

I don't trade the gap immediately but wait for to see if it continues in the gap direction. If it does I watch ma, pivot s/r and volume ( I am kidding myself if I think that I can use volume very well but I've got to start somewhere) To-day ftse went to 4283. I would have been watching very closely at 4288 which was S1 level and would have gone long at this point which would have been worth more than 5 points. All of this is 'would have' because I was not able to trade

Say so if you understand.

Thats your lot.

Regards

bracke

 

[barjon]

bracke

apologies dear sir - clean forgot your added dimension

good trading

jon

 

[bracke]

bracke

apologies dear sir - clean forgot your added dimension

good trading

jon

Apologies accepted. I shall now have to be very careful that I don't forget anything you have said otherwise I will be hauled over the coals.

I see that the ftse is receiving a fillip from the dow as I type. Have you now gone long ?

Regards

bracke

 

[FetteredChinos]

not trading the FTSE today, but if anything, i would be going short here from about 4340 looking for 4315 again..



FC

 

[barjon]

bracke

mm, since 289 (see earlier post)

 

[bracke]

bracke

mm, since 289 (see earlier post)

What is your exit level and why ?

Regards

bracke

 

[barjon]

running a trailing stop now - 6 below, will be out around 43 on the bid


edit:gone now @ 47

 

[bracke]

running a trailing stop now - 6 below, will be out around 43 on the bid


edit:gone now @ 47

Nicely done for approx 55 points

EDIT - I hope that trade was undertaken without the aid of alcohol

Regards

bracke

 

[alliance]

Good Morning,

That's all!




(oops...well done barjon..nice one)!

 

[bracke]

Good Morning Fellow Posters

The dow gained 130 points yesterday and ftse is somewhat sniffy about it and refuses to join in the fun. Perhaps it is waiting to see if there are another 130 before following.

The first pivot resistance for the dow is 10006 so a major level to overcome, perhaps why the ftse is wary.
The first pivot support for the dow is 9864.

Regards

bracke

 

[FetteredChinos]

morning all, worth a short from these levels...4357...

moved too far too fast IMHO.

FC


edit- stochs and RSI confirming a bit of ND to rationalise short..