FTSE 100 Intraday trading - August 2003

[hungrybear]

Back again. Bonsai has certainly been better than me - I hope no-ones been following my analysis! I've been keeping out of trouble, despite playing the short side but only making a few points here and there. I'll keep posting my views, unless you'd prefer I didn't!

 

[mully]

According to Bonsai methodology, the MACD is rapidily approaching 0. We have had two tests of the 4038/9 level, both have held. I presume a turn positive on the MACD avove 0 should be taken as confirmation of the bullish trend.

 

[SUNSEEKER]

I think Bonsai does a fantastic job

here is my interpretation of the FTSE cash, target may already be hit at 4276( minus 10) but i would be surprised if we dont see some more upside

 

[Lambchops]

MACD 60/100 on page 1 of this thread has turned up so I`m trying a long @48.

 

[barjon]

ditto

 

[mully]

It appears this thread has gone dead ever since Bonsai went for his sail.

Market appears to be repeating its May creeping advance. Few real setbacks to let you in. All we are missing is the confirmation from the US. Still stick with my view that next serious resistance for FTSE 100 lies at 4466.
Any thoughts?
Have seen lower MACD this morning, though how relevant given low participation (volume)

 

[barjon]

Mully

Agree with you that there doesn't seem a lot to stop an advance
to 4400 level (USA permitting). Wouldn't be a surprise for it to
go back and have a peep at 4220 before moving forward again?

I thought volumes were ok today, but a warning sign was that
AVZ has been down all day. Been on the sidelines so far.

Good trading

jon

 

[jonnyy40]

Problems with the IB Liffe feed.I'm already to trade with nowhere to go.

 

[mully]

barjon

Looks like market trying to "peep at 4220"

 

[bonsai]

morning all
only back for a brief look at things

see we made the fib at 4280 and
then promptly had a goat and a horse within an hour or so.

hope you are all short from that signal.
first fib seems to be 4200 ?

 

[hungrybear]

Hello Bonsai - did you enjoy your break?

I didn't take the short at 4280 - only entered this morning and already closed for 11 points.

 

[hungrybear]

Ftse futures seem to have moved to a premium over cash. It was a 10 point deficit only a few days ago. Any views on how long this will last?

 

[bonsai]

Hb
no idea at all
on my charts, it looks like the sellers have just stood back
for a while. That might be part of it.

 

[Lambchops]

1 Minute MACD 60/100 has turned up and the DOW D4F price has just shot up. Gone long @37.

 

[bonsai]

LChops
how are you getting on with that macd ?

 

[hungrybear]

I think the Ftse will see a low at the end of today, then rally again. JMO, but based on:
1. The Dow broke upwards and should have some legs in it yet
2. Both the Ftse and Dow have been pushing the upper BB upwards, showing strength and with a small retarcement now giving headroom for another assault higher.

This next push up could form a very significant high, at least for this year. Long term stochastics are all on the ceiling and this should be the fifth wave up for both the Ftse and the Dow. I don't have any clear predictions for the levels.

 

[Lambchops]

Out at 34 for -3. Bonsai - Quite a few whipsaws like that one so probably need to allow a bit more wiggle factor when buying/selling. Does get you into some decent trades and quite early but still second guess sometimes instead of waiting for a signal. I would probably do better if I turned off the DOW chart once I am in a trade as that sometimes causes me to get out of a trade too early instead of concentrating on the FTSE trade. It has definitely improved my trading in general and I feel comfortable with it.

 

[SUNSEEKER]

how many stocks are there in the FTSE 100?

 

[Lambchops]

Is that a what month was the October revolution type of question?

 

[SUNSEEKER]

no, I just ask because I think most people would say it was 100, but I had to do some research, and according to Bloomberg there are 101 stocks....