downbytheriver7
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ukhero said:
Yes closed the short yesterday - don't really hold overnight. Just got in now and seen the FTSE up back at 5790. Thats a curve ball for sure. Sitting on the sidelines for now. Looks like it wants to make a go at 5800 first.
mark twain uk
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I too was inspired (read lucky) and closed my short last night, and will stay on the sidelines waiting for a new high
downbytheriver7
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mark twain uk said:
Well I have gone short @ 5799 - slightly smaller than normal and a tight stop @ 5805. Or are we looking at a Feb high of 6000 shortly I wonder.
mark twain uk
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same here, short from mid 90's, I will allow a bit more room for a spike up, the SB companies just love to take out stops and usually they would spike up for few seconds to do just that
downbytheriver7
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mark twain uk said:
Umm very true - I am thinking of a stop around 5810. Have not seen the FTSE this flat for this long for quite a while. Since 10am its been in a range of about 8pts!
downbytheriver7
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downbytheriver7 said:
Getting ready to close the short for a small loss.
downbytheriver7
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kriesau said:
Ouch...I actually tempted fate and increased my position @ 5816, I have closed the extra back into this drop and are still pondering whether to hold overnight as I generally don't. Gut feeling is we are overbought and we should atleast see a pullback before any big climb over 5800. A close under 5800 might make me hold overnight.
downbytheriver7 said:
Overbought? 14-D RSI just over 65.
Upside break and a bullish engulfing .. . . . . . . .
GO LONG!
thats what makes a market i guess, but my feel is that with all these rumours flying around that ther'll be very few sellers, therefore will move higher than expected - last February the RSI hit 79, at the moment its indicative of strong upside momentum.
and the rsi hit 70 last july and kept rising another 300 points before a pull back and even then it was only part of the 300 points. But then later in the year we had a 400 point fall from less than 70 reading So for me absolute RSI readings are useless. Interestly there is divergence on the RSI since August.
But for intraday trading think a daily rsi is not much help. But then again I wouldn't trade short overnight either. (love gaps left at the high today) so as you say "thats what makes a market"
But for intraday trading think a daily rsi is not much help. But then again I wouldn't trade short overnight either. (love gaps left at the high today) so as you say "thats what makes a market"
downbytheriver7
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Agree - I really trade intraday sometimes overnight if I have a gut feeling - but even if so its all in a disciplined manner , or so I like to think! With my broker the spread is 2 pts daily and 6pts afterhours so sometimes I will close it out in the early hours if I change my mind - full 24 hour trading roll on!
For me if 6000 is going to come up next a small amount of base building around 5700-5800 might come first. Aslong as you change your mind constantly then you'll be alright!
For me if 6000 is going to come up next a small amount of base building around 5700-5800 might come first. Aslong as you change your mind constantly then you'll be alright!
The FTSE, Thursday 2nd February 2006
Wednesday's results:
Close: 5801, up 41pts [0.72%].
Range: 5746 - 5816.
Last 5 trading days: up 97pts [1.7%]
On the month: up 41pts [0.72%]
Wednesday's Dow:
10953, up 89pts [0.82%]
Last 5 trading days: up 185pts [1.72%]
On the month: up 89pts [0.72%]
News items of note:
Telegraph - 'House prices shot up by 1.4pc in January, the biggest jump in 18 months, a survey from the Nationwide building society has found but economists say a rebound in the housing market is not feeding through to the rest of the UK economy. Mortgage lending approvals also hit an 18-month high in December, against expectations of a drop.'
LONDON (ShareCast) - US light crude oil for March delivery fell 43c to close at $67.92 a barrel on the New York Mercantile Exchange after OPEC agreed to keep oil output near a 25-year high to cool rising prices.
Meanwhile Iran assured it would not stop its exports despite a dispute over its nuclear plans.
Charts, and nothing but the charts: Wednesday's stated a dip. Thursday's a rise.
Companies reporting:
888 Holdings
Astrazeneca
Caffe Nero Group
Care UK
Hardys & Hansons
Mitchells & Butlers
Rio Tinto
Royal Dutch Shell
Signet Group
WH Smith
Economic Data:
None.
The FTSE tomorrow based on present news and data: the DOW finally made up its mind mid afternoon and as such the FTSE shuffled a touch higher, in all, the FTSE may open 8-12pts higher tomorrow morning; charts say a rise; no economic news but plenty of big guns to really shake the market.
Areas to watch:
Miners and Oil companies.
Early gut feeling: a rise.
Will I bet? Yup, a large Long.
If you are betting: make your own decision, watch the markets open and do read the news for clues as to which way the FTSE may go.
Yours
UK
Wednesday's results:
Close: 5801, up 41pts [0.72%].
Range: 5746 - 5816.
Last 5 trading days: up 97pts [1.7%]
On the month: up 41pts [0.72%]
Wednesday's Dow:
10953, up 89pts [0.82%]
Last 5 trading days: up 185pts [1.72%]
On the month: up 89pts [0.72%]
News items of note:
Telegraph - 'House prices shot up by 1.4pc in January, the biggest jump in 18 months, a survey from the Nationwide building society has found but economists say a rebound in the housing market is not feeding through to the rest of the UK economy. Mortgage lending approvals also hit an 18-month high in December, against expectations of a drop.'
LONDON (ShareCast) - US light crude oil for March delivery fell 43c to close at $67.92 a barrel on the New York Mercantile Exchange after OPEC agreed to keep oil output near a 25-year high to cool rising prices.
Meanwhile Iran assured it would not stop its exports despite a dispute over its nuclear plans.
Charts, and nothing but the charts: Wednesday's stated a dip. Thursday's a rise.
Companies reporting:
888 Holdings
Astrazeneca
Caffe Nero Group
Care UK
Hardys & Hansons
Mitchells & Butlers
Rio Tinto
Royal Dutch Shell
Signet Group
WH Smith
Economic Data:
None.
The FTSE tomorrow based on present news and data: the DOW finally made up its mind mid afternoon and as such the FTSE shuffled a touch higher, in all, the FTSE may open 8-12pts higher tomorrow morning; charts say a rise; no economic news but plenty of big guns to really shake the market.
Areas to watch:
Miners and Oil companies.
Early gut feeling: a rise.
Will I bet? Yup, a large Long.
If you are betting: make your own decision, watch the markets open and do read the news for clues as to which way the FTSE may go.
Yours
UK
Just stumbled across the following:
Bloomberg -- 'The United Nations' nuclear watchdog found plans needed to build an atomic weapon in Iran, contradicting the country's claims its research effort is peaceful, and bolstering chances the case will go to the Security Council.
The International Atomic Energy Agency found a document for the casting of enriched and depleted uranium metal into hemispheres, related to the fabrication of nuclear weapons components,'' read a four-page report obtained by Bloomberg News. The report will be presented to the IAEA's 35-nation board of governors at an emergency meeting tomorrow. '
UK
Bloomberg -- 'The United Nations' nuclear watchdog found plans needed to build an atomic weapon in Iran, contradicting the country's claims its research effort is peaceful, and bolstering chances the case will go to the Security Council.
The International Atomic Energy Agency found a document for the casting of enriched and depleted uranium metal into hemispheres, related to the fabrication of nuclear weapons components,'' read a four-page report obtained by Bloomberg News. The report will be presented to the IAEA's 35-nation board of governors at an emergency meeting tomorrow. '
UK
downbytheriver7
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Closed my short @ 5785. Tempted to reshort on any bounce looking for 5780 and then 5740.
downbytheriver7
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Well there's 5780 - looking for 5750 next.
downbytheriver7
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downbytheriver7 said:
Closing my short for a nice big gain. Thats the gap nearly filled from a few days ago - best wait and see now.
mark twain uk
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I too closed my short from mid 90's for 38 points, nice but I closed it too early
UK hero, you have my simpathy, I sooooo know how it feels to be on the wrong side of the market, you are taking some risks here, the market could go either way, I think there will be some pull back, that's why i closed my short tonight, but try to make sure that you limit any further downside or it may wipe out more than your week's profit.
UK hero, you have my simpathy, I sooooo know how it feels to be on the wrong side of the market, you are taking some risks here, the market could go either way, I think there will be some pull back, that's why i closed my short tonight, but try to make sure that you limit any further downside or it may wipe out more than your week's profit.
The FTSE, Friday 3rd February 2006
Thursday's results:
Close: 5747, down 54pts [0.94%].
Range: 5743 - 5811.
Last 5 trading days: up 25pts [0.43%] Looking weak.
On the month: down 13pts [-0.23%]
Thursday's Dow:
10851, down 101pts [0.93%]
Last 5 trading days: up 36pts [0.33%]
On the month: down 11pts [-0.10%]
News items of note:
FT.com - European stock markets fell on Thursday as oil stocks retreated in the face of a slide in crude prices. The FTSE Eurofirst 300 index fell 1 per cent to 1,319.80. Further disappointing news on reserves for Royal Dutch Shell overshadowed the Anglo-Dutch oil company's record-breaking full-year results and prompted a retreat for the sector. Spain's Cepsa lost 3.8 per cent to EU44.00, while Austria's OMV shed 3.3 per cent to EU57.84 and the Finnish refiner Neste Oil fell 2.9 per cent to EU25.75.
FT.com - 'Copper, gold, platinum, aluminium and sugar all reached long-term highs on Thursday as commodities continued to attract strong investor buying.Although there has been no significant change to supply and demand trends in the precious or base metals markets this week, metal prices have continued to strike new highs each day this week despite limited buying from consumers.
Gold reached $574.60 a troy ounce, its highest level since January 1981 while platinum touched a record $1,080 a troy ounce, exceeding the previous peak seen in January 1980. Silver again edged closer to the $10 an ounce level when it traded at $9.92 before slipping to $9.74 in late afternoon London trade.' - Now we know where all the bulls disappeared too!
Charts, and nothing but the charts: Thursday's stated rise. Friday a fall.
Companies reporting:
British Airways
JPMorgan Fleming
Economic Data:
09:30 UK Service Sector PMI
The FTSE tomorrow based on present news and data: the DOW had a major fall which, to a degree, affected the FTSE, and one wonders why the FTSE fell at all considering the tremendous company results; charts say a fall, but it must be noted that they have been incorrect the past two days; company and economic news is tame; look to early morning news for the FTSE's direction;
Early gut feeling: neutral.
Will I bet? Bad move yesterday, went Long when it hit 5780; holding my position.
If you are betting: make your own decision, watch the markets open and do read the news for clues as to which way the FTSE may go.
Yours
UK
Thursday's results:
Close: 5747, down 54pts [0.94%].
Range: 5743 - 5811.
Last 5 trading days: up 25pts [0.43%] Looking weak.
On the month: down 13pts [-0.23%]
Thursday's Dow:
10851, down 101pts [0.93%]
Last 5 trading days: up 36pts [0.33%]
On the month: down 11pts [-0.10%]
News items of note:
FT.com - European stock markets fell on Thursday as oil stocks retreated in the face of a slide in crude prices. The FTSE Eurofirst 300 index fell 1 per cent to 1,319.80. Further disappointing news on reserves for Royal Dutch Shell overshadowed the Anglo-Dutch oil company's record-breaking full-year results and prompted a retreat for the sector. Spain's Cepsa lost 3.8 per cent to EU44.00, while Austria's OMV shed 3.3 per cent to EU57.84 and the Finnish refiner Neste Oil fell 2.9 per cent to EU25.75.
FT.com - 'Copper, gold, platinum, aluminium and sugar all reached long-term highs on Thursday as commodities continued to attract strong investor buying.Although there has been no significant change to supply and demand trends in the precious or base metals markets this week, metal prices have continued to strike new highs each day this week despite limited buying from consumers.
Gold reached $574.60 a troy ounce, its highest level since January 1981 while platinum touched a record $1,080 a troy ounce, exceeding the previous peak seen in January 1980. Silver again edged closer to the $10 an ounce level when it traded at $9.92 before slipping to $9.74 in late afternoon London trade.' - Now we know where all the bulls disappeared too!
Charts, and nothing but the charts: Thursday's stated rise. Friday a fall.
Companies reporting:
British Airways
JPMorgan Fleming
Economic Data:
09:30 UK Service Sector PMI
The FTSE tomorrow based on present news and data: the DOW had a major fall which, to a degree, affected the FTSE, and one wonders why the FTSE fell at all considering the tremendous company results; charts say a fall, but it must be noted that they have been incorrect the past two days; company and economic news is tame; look to early morning news for the FTSE's direction;
Early gut feeling: neutral.
Will I bet? Bad move yesterday, went Long when it hit 5780; holding my position.
If you are betting: make your own decision, watch the markets open and do read the news for clues as to which way the FTSE may go.
Yours
UK
