swingin' the ftse: 2008

[barjon]

................I don't say that the downtrend is not over, but today's upsurge is not proof of it..................

split,

True, but it was quite powerful after a similar surge on the DOW and enough to have caused most to have killed the month long short trade that had been running pretty fast today.

With the DOW putting in another powerhouse performance and adding 130+ after ftse close we can expect another push tomorrow. Be interesting to see if ftse shadows the DOW's further rise (assuming no overnight alarms) when it'd be a bit chancy to jump in front of a speeding truck even if it is heading up a blind alley, or if it displays relative weakness.

Where's your trend line now? Is a break of that going to change your assumption? My change still comes at the red dotted line around 5542 - always assuming we don't get 3 up bars and a swing high out of this current move!!

good trading

jon

 

[Yamin151]

Keep it coming

Barjon,

Have not said much for a while, but I am a regular visitor to your thread. Busy reading all I can get my hands on at the moment, but what I like best about this style of trading is its simplicity. Good stuff and thanks for taking the time,

Yamin

 

[tomorton]

A familiar problem again - Sharescope give Thursday's low as 5193.6, ADVFN show the low as 5176.6. ADVFN's lower figure doesn't look like it is corroborated by the intra-day price chart so I am going with Sharescope's number. Anyone else got a different candidate or a definitive figure?

 

[Mr. G]

Tha actual Index? 5150.60 according to the FT (and a number of other places I'm looking). Or are you talking about the futures?

 

[Splitlink]

split,

True, but it was quite powerful after a similar surge on the DOW and enough to have caused most to have killed the month long short trade that had been running pretty fast today.

With the DOW putting in another powerhouse performance and adding 130+ after ftse close we can expect another push tomorrow. Be interesting to see if ftse shadows the DOW's further rise (assuming no overnight alarms) when it'd be a bit chancy to jump in front of a speeding truck even if it is heading up a blind alley, or if it displays relative weakness.

Where's your trend line now? Is a break of that going to change your assumption? My change still comes at the red dotted line around 5542 - always assuming we don't get 3 up bars and a swing high out of this current move!!

good trading

jon

This is my EOD look of the situation today. There is room for long traders to make a profit, but this is still down, in my view, and it would have to go to the red line for me to change my mind. Shorting is safer.

 

[foredog]

Gotta a chart showing it opened at 5176 then rallied, it's from Proquote,looked at 1min chart and that shows 0800 open 5176 0800 open 5206.

The extreme low is probably where stocks uncrossed at a lower level then the first buyer came in rushing it up

 

[Splitlink]

A familiar problem again - Sharescope give Thursday's low as 5193.6, ADVFN show the low as 5176.6. ADVFN's lower figure doesn't look like it is corroborated by the intra-day price chart so I am going with Sharescope's number. Anyone else got a different candidate or a definitive figure?

Fins 5197. ADVFN way different!

Split

 

[tomorton]

Tha actual Index? 5150.60 according to the FT (and a number of other places I'm looking). Or are you talking about the futures?

Hi all - I mean the actual index, not futures or SB quotes. 5150.6 looks like the extreme suggestion of the low for yesterday, but its rather worrying when we as swing traders in particular can't get a definitive number for this.

 

[atrim]

Don't let them get to you, atrim.

I stuck a toe in, too The EOD trend is still down but, maybe, there could be some more buying again tomorrow.

You have to try it, there's no other way! I try from the high points because that is where the stops can be located closest.

There was a useful fall in the afternoon that I couldn't trade.

I don't say that the downtrend is not over, but today's upsurge is not proof of it.

I took a short last night when I saw something of a top [possible] form and got a price of 5298. This morning I woke up with some profit and then when it made the big spike down I closed and banked just under 70 points. When it came back up I wanted to short it again but I didn't partly because I'd been reading this thread. Oh well thats the game I guess.

 

[Splitlink]

I took a short last night when I saw something of a top [possible] form and got a price of 5298. This morning I woke up with some profit and then when it made the big spike down I closed and banked just under 70 points. When it came back up I wanted to short it again but I didn't partly because I'd been reading this thread. Oh well thats the game I guess.

Good for you! You've proved to the unfaithful that this trend is down.

 

[atrim]

I grabbed 50 points shorting Wall Str. Thats enough when I dont really know the market. I have another short on FTSE which is losing right now. I still think the trend is down.

 

[barjon]

Start the drum roll

Today gave us our third up bar and thus a potential swing high since the swingtrend is still down. If it goes that way, a short will trigger at around 5332 with a stop enough to make split weep at 5448.

This will be an addition for anyone still in the trade from 5812 or a new trade for those who have already covered. They (the new trade group) will likely take first tranche profit around 5216 if it gets there.


good trading

jon

 

[Splitlink]

Blast! I wish I had shorted FT when I was shorting SP, Jon. That was the high for the day! I thought that it was too late in the day to start trading FT, when I had to stop at 1330

Oh, well. Another day tomorrow!

About your chances of a swing high. You sure it isn't a failed trend break? Time will tell.

 

[barjon]

Blast! I wish I had shorted FT when I was shorting SP, Jon. That was the high for the day! I thought that it was too late in the day to start trading FT, when I had to stop at 1330

Oh, well. Another day tomorrow!

About your chances of a swing high. You sure it isn't a failed trend break? Time will tell.

split,

yeah, thought it might have popped your trend line - does that mean you're switching to longs now

good trading

jon

 

[tomorton]

Jon - agreed, looking to short if Tuesday breaks the low. Already long Gold, which already gave a swing low, just a day ahead of the FTSE (I hope).

 

[Splitlink]

split,

yeah, thought it might have popped your trend line - does that mean you're switching to longs now

good trading

jon

Not yet. This could, quite easily, be a failed trend break. I see the same in LLOY. May resume shorting it again on Tuesday.

 

[trigger]

Shorted ftse at 5400 just before the close yesterday, may catch a few in early trading

steve

 

[trigger]

Shorted ftse at 5400 just before the close yesterday, may catch a few in early trading

steve

Closed for a quick 40 points tho will only see 20 ...DAMN THOSE DELTAS! LOL

steve

 

[atrim]

So if it is going up during a day are you saying I should wait for a day when it is going down [from a high point]?

Like now?

 

[Splitlink]

Like now?

That's what I try to do. Jon gets a kick out of me but I'm still shorting away. :clap:

The EOD chart tells me that this is still a bear market and we've just had a pullback.

Friday I see that you did better than me. Yesterday, as well. I had to go out and when I came back, tried the SP, got stopped out and did not try again. It was the top!! What a let down