FTSE- 11th DEC - declare your positions

[wallstreet1928]

OK so i got stopped out last night 4360!! (gutted as market is in freefall at present)

OH well........missed out there then!!

Auto-bail out problem
"WASHINGTON (Reuters) - A proposal to bail out the big three U.S. automakers passed the House of Representatives but its prospects looked grim in the Senate where supporters faced an uphill struggle on Thursday to keep it alive.

"Gonna be tough, but haven't lost all hope," a Democratic aide said of the plan to provide up to $14 billion in loans to help avert possible collapse of one or more carmakers.

The bill, negotiated by Democrats and the Bush administration, cleared the House by 237-170 but appeared to be falling short of the 60 votes necessary to overcome procedural obstacles in the Senate."

 

[wallstreet1928]

buy at 4312 ..........stop loss 4920!!

good support level!!

 

[wallstreet1928]

beautiful buy!!

taken 85 points profit .....................

even I didnt think it would bounce that much!!

the bulls are in charge in the short term people!!

 

[stefan10]

how much did u bet per point on your 85 point profit?
i went short at 4383 , market seems to be going long !

 

[wallstreet1928]

I always do 2-3 points................depending on risk ratio!!

My daily profit target is £200 per day........times that by 5 = £1000 times that by 4 = £4000 potential a month minus any bad trades = around £2000- £3000

see my friend....keep it small and simple, thats the only way you will survive in this game?

 

[wallstreet1928]

always trade with 25 point stop loss on FTSE and 40 point stop loss on DOw jones!!

 

[wallstreet1928]

It all hinges on Auto bail out people...........oh and interest rates next week!!

US could be headed to 0% interest rates people, I should get a re-mortgage from there!! haha!!

 

[wallstreet1928]

come on people declare your positions??

I'm thinking of going long again?

 

[stefan10]

i didt get anywhere with the market so just broke even and was happy with that - a bit disapointed

 

[UK-T(raider)]

Short on FTSE, have been for 2 days now since my hedge with the nikkai which paid off, now just waiting for the down trend!

Anyone got any bad news for the FTSE next week? Considering holding the position over the weekend

 

[wallstreet1928]

you should be worried about 3 factors holding short position in short term......

1. santa rally - if it transpires

2. oil price rally to $49- commodities rally - FTSE heavily weighted with commodities!!

3. Auto bail out- - if gets passed in the Senate the market could rally in the short term

 

[wallstreet1928]

I'm surprised how strong the FTSE is holding between 4300- 4350 support level!!

soon to be 4400 support!!

It has been bouncing off all the supports all day!!