Message For Ftse Traders......

You all thinking it is going to drop? I was going in 5 per long on Monday morning 0:00, not a good idea you reckon?
 
my only concern about any long or even short positions at this time are that the ftse is at a critical position and there ar no real clues as to which direction it will take.admittedly we are in a bullish zone.ie above 4400,but thereis a mismatch.the dow,which is more influential is lagging in its bullishness and this could drag the ftse down .the long at 4430 should have the stop below the 4400 level.this stop could be triggered in an erratic first hour of trading on monday morning..the dow plunged nearly 100 points in the last hour of trading.approx 1%.whereas the ftse bounced off the 4430 support in the last hour of trading
i just think it is the time to stand back and let the market tell you where it is going to go.too easy to get it wrong
more time in the pub for me .this week.waiting foor things to unravel
 
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4400 has only acted as a support in the last few days.whereas it acted as a strong res area from oct 8 till virtually xmas.therefore,i consider 4400 to be an intermediate,perhaps even minor support area.as it has only been tested in the last few days
we watch fo things to unfold
 
I'm thinking of supporting a 5/6 per long position until may (the ftse will go up) its practically at its bottom level, I see the MAXIMUM worst case scenario drop as 3600, I can't realistically see it dropping near this though as the worst in terms of "Shock" realisations appear to be over. If you weigh up the drops between Figure release by companies in early 08 compared to now, you should see that traders have grown slightly more aware to moving quickly and inducing panic, an aspect that will play a key part in the recovery I predict by May.

I expect the FTSE to reach 5550+ by May, this is obviously my own estimate, so take it as you will!

Regardless I am tending to move towards long positions now, November-Jan was relativley easy to read in terms of market direction for me, now losing 75%+ shows how unjudgeable the market has become in these first few weeks of trading for 09.

If my trade pays off then i spose that's 6.6k to enjoy myself with over the summer, and to set me up financially for the next academic year.

Good luck trading to all anyway!
 
a shorter term chart.it looks pretty bearish.admittedly 4400 is a support area.it was tested shortly on the way up and just recently on thurs jan 8th.5min data,5 point box size,hilo data,3 box reversal
there is a downside vertical count of 4250 from the last big thrust down from the 4530 region..this could take us down into no mans land again.a decent break below 4200 makes it very bearish.above 4400 then bullish.looks like another bearish indecisive week
does anybody know of anything that will stimulate this index to give us a decent move.?
 

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dentist007 said:
my only concern about any long or even short positions at this time are that the ftse is at a critical position and there ar no real clues as to which direction it will take.admittedly we are in a bullish zone.ie above 4400,but thereis a mismatch.the dow,which is more influential is lagging in its bullishness and this could drag the ftse down .the long at 4430 should have the stop below the 4400 level.this stop could be triggered in an erratic first hour of trading on monday morning..the dow plunged nearly 100 points in the last hour of trading.approx 1%.whereas the ftse bounced off the 4430 support in the last hour of trading
i just think it is the time to stand back and let the market tell you where it is going to go.too easy to get it wrong
more time in the pub for me .this week.waiting foor things to unravel
Click to expand...

intend to open up a short position on Dax immediately if there is any weakeness in the morning session to hedge myself.!!
 
dentist007 said:
a shorter term chart.it looks pretty bearish.admittedly 4400 is a support area.it was tested shortly on the way up and just recently on thurs jan 8th.5min data,5 point box size,hilo data,3 box reversal
there is a downside vertical count of 4250 from the last big thrust down from the 4530 region..this could take us down into no mans land again.a decent break below 4200 makes it very bearish.above 4400 then bullish.looks like another bearish indecisive week
does anybody know of anything that will stimulate this index to give us a decent move.?
Click to expand...

Hows it going, just wanted to know what dealer you are using to trade
 
wallstreet:dont jump into any positions first thing.there could be weakness first thing.however,the dow might turn it around.you might get some points from the hedge.which i think is a reasonable idea.dont push youre luck
tripleogstar:gni and ig
just my opinions on this thread
point and figure is very easy to read.just trade with the trend until you see a reversal.these are consecutive signals,both either bullish in a downtrend or bearish in an uptrend.signals must be consecutive and the same.
 
just to recap.there is no clear direction for monday.need to see where the ftse finds support at the open.as far as i can see there are no big earnings numbers in the us due,nor any big economic news
if any body knows any then please lt us all know
 
dentist007 said:
just to recap.there is no clear direction for monday.need to see where the ftse finds support at the open.as far as i can see there are no big earnings numbers in the us due,nor any big economic news
if any body knows any then please lt us all know
Click to expand...

I am bearish on the ftse100 on monday, there is likely to be a sell off. There are big earnings out tomorrow, you got Alcoa (one of the world's largest producers of aluminium) reporting in the U.S tomorrow and that is likely to be bad given the sell off in the commodities market, this going to be a drag on the dow jones.
You have jean claude trichet speaking at 7am GMT on monday, this is likely to be very dovish and could give clues as to how bad the european economy is doing, this could spark a sell off in european indices.
You also got to remember the news from the weekend, reports that GDP has fallen 1.5% in Q4 2008 in the UK, this is likely to have some impact on the FTSE100 and the sterling for that matter.
So there is quite a bit of important stuff tomorrow mate.
 
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dentist007 said:
if any body knows any then please lt us all know
Click to expand...

Check out The Stock Index Report by Carley Garner over on the US Indices forum for a daily overview of the US market. She says this for next week:

"Next week is slated to be an exciting one in terms of economic data. We will hear from the U.S. Department of Labor regarding consumer and producer prices, which are expected to show slightly negative inflation figures (deflation). We will also get wind of the current retail sales figures, manufacturing data and consumer sentiment.

Although, most of the announcements are expected to be dismal, there shouldn't be anything to surprise the markets. With that said, there likely won't be anything that is capable of improving investor sentiment until we get closer to technical support levels. While we may see a "dead cat bounce" on Monday, I expect the major indices to continue their grind lower."
 
Hmm, anyone looked at Aussie and S&P? Things seem to be on the up. Reckon this will play over into the FTSE? S&P strength will definitely help to set the mood for the US today.
 
surprise surprise...................FTSE jumped.............i have closed position 12 point profit!!

strange bounce...............looking to short on any weakness!!
 
shorting FTSE and using 12 point profit as stop loss ........

short FTSE at 4442 , stop loss 4454!!

lets see what happens hey............ got nothing to lose as didn't expect spike up his morning!!
 
hey guys - just found this forum!

Im short on FTSE at 4434 and leaking water.....hoping for a rebound.
 
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