squaregains
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seems like a resonable buying opp. for some quality blue stocks..IMHO.
The FTSE Thursday, 6th October 2005
Wednesdays results:
Open: 5494
Close: 5427, down 66pts.
Range: 5427- 5494.
Miners, oils and banks were all major fallers as the market saw a broad-based retreat.
Dow: 10,317, down 123pts. Again, another major drop. As per yesterday, it will effect the FTSE.
Wall Street found itself in negative territory on Wednesday morning amid a raft of profit warnings and renewed fears over higher inflation and interest rates and this slip may turn into a slide.
To be honest these past two days are adding grew hairs to my head. I lost an entire months profit on Tuesday only to make it back, almost to the pound, earlier today. I think I'm getting to old for this game!
News items of note:
LONDON (Reuters) - 'Britain accused Iran and Lebanon's Hizbollah guerillas on Wednesday of supplying militants in Iraq with the techniques for making armour piercing bombs used to kill British troops.' - I've already highlighted this situation in a previous post. If the powers to be don't leave Iran alone and go the same route as Afghanistan and Iraq, we'll see the price of oil increase by at least a third. That'll make a mess of the markets. A possible major future negative.
PARIS (Reuters) - 'France stirred up a long-running dispute with Britain over EU spending on Wednesday just two days before talks between leaders of the two countries.' - If its not resolved it will be a long term negative for UK exporting companies. European sentiment to the UK markets has been fickle over the past five years and this debate does little to improve it. A possible moderate future negative.
BOE and ECB tomorrow. Watch the news closely.
Oil: below $64. Will it drop further is the question. I do see it rising, but when?
Charts, and nothing but the charts: Yesterday charts stated a dip! Its times like these that charts need to be rolled up and put back on the shelf.
Companies reporting: None that will alter or adjust other major factors for tomorrow.
The FTSE tomorrow based on present news and data:
Gut feeling: based on what I've seen today, another drop followed by a slight rise and then a pause until the US markets open.
Will I bet? Yes. I live for days such as this.
And BTW, don't make the same mistake as I made Tuesday, when the markets move a lot, ADJUST YOUR STOP GAP!
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
Wednesdays results:
Open: 5494
Close: 5427, down 66pts.
Range: 5427- 5494.
Miners, oils and banks were all major fallers as the market saw a broad-based retreat.
Dow: 10,317, down 123pts. Again, another major drop. As per yesterday, it will effect the FTSE.
Wall Street found itself in negative territory on Wednesday morning amid a raft of profit warnings and renewed fears over higher inflation and interest rates and this slip may turn into a slide.
To be honest these past two days are adding grew hairs to my head. I lost an entire months profit on Tuesday only to make it back, almost to the pound, earlier today. I think I'm getting to old for this game!
News items of note:
LONDON (Reuters) - 'Britain accused Iran and Lebanon's Hizbollah guerillas on Wednesday of supplying militants in Iraq with the techniques for making armour piercing bombs used to kill British troops.' - I've already highlighted this situation in a previous post. If the powers to be don't leave Iran alone and go the same route as Afghanistan and Iraq, we'll see the price of oil increase by at least a third. That'll make a mess of the markets. A possible major future negative.
PARIS (Reuters) - 'France stirred up a long-running dispute with Britain over EU spending on Wednesday just two days before talks between leaders of the two countries.' - If its not resolved it will be a long term negative for UK exporting companies. European sentiment to the UK markets has been fickle over the past five years and this debate does little to improve it. A possible moderate future negative.
BOE and ECB tomorrow. Watch the news closely.
Oil: below $64. Will it drop further is the question. I do see it rising, but when?
Charts, and nothing but the charts: Yesterday charts stated a dip! Its times like these that charts need to be rolled up and put back on the shelf.
Companies reporting: None that will alter or adjust other major factors for tomorrow.
The FTSE tomorrow based on present news and data:
Gut feeling: based on what I've seen today, another drop followed by a slight rise and then a pause until the US markets open.
Will I bet? Yes. I live for days such as this.
And BTW, don't make the same mistake as I made Tuesday, when the markets move a lot, ADJUST YOUR STOP GAP!
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
Morning all,
UK, do you trade intraday or EoD?
It seems that yesterday was a superb opportunity to trade intraday, unfortunatley I was not able to trade and missed some nice moves, certainly after the US open.
There has been continued sell off's overnight and the Far East markets are well down, the SB'ers are calling the European's all down, FTSE open just above 5400 down about 25.
The problem for us day traders is that fall is already built in and after the open there may not be a big move to trade. Might just be a possibility to fade the open?
Could be a difficult day and I tend to agree with UK that the market will drop then be flat pre US open.
Regardign RIO, that was hard hit yesterday and I don't see recovery in the short term. However, it is a very tradable stock intraday.
Good trading to all
Dave
UK, do you trade intraday or EoD?
It seems that yesterday was a superb opportunity to trade intraday, unfortunatley I was not able to trade and missed some nice moves, certainly after the US open.
There has been continued sell off's overnight and the Far East markets are well down, the SB'ers are calling the European's all down, FTSE open just above 5400 down about 25.
The problem for us day traders is that fall is already built in and after the open there may not be a big move to trade. Might just be a possibility to fade the open?
Could be a difficult day and I tend to agree with UK that the market will drop then be flat pre US open.
Regardign RIO, that was hard hit yesterday and I don't see recovery in the short term. However, it is a very tradable stock intraday.
Good trading to all
Dave
Euro_d said:
Hi Euro_
I Spread Bet with three SB companies daily; usually [I have a day job] I'm unable to adjust my opening but this week I'm on holiday.
In regards to losing a major chunk if the market moves dramatically on opening, you can open with Capital Spreads at 7am.
I've been following Rio Tinto for four months now and I've noticed that its very sensitive to the FTSE's dramatic movements. As I've said in a prior post, its best to hold off until the market settles.
As and when the market does rise, lets say 20 -40pts, Rio will leap 70 - 90pts. Worth watching.
As I write the market has settled at 5367, down 60pts; this is a larger drop compared to this time yesterday; the Dollar has dropped against the Euro ahead of the US Jobs Data; Bank of England’s rate decision due at noon which is widely expected to remain unchanged at 4.5 per cent. If it does change I'm not sure how the market will react.
News of note:
Reuters. -'Talk that Venezuela was moving its reserves out of U.S. Treasuries and that Russia may revalue the rouble to keep inflation in check also weighed on the dollar, traders said. A Venezuelan central bank director, Domingo Maza Zavala, was quoted in the Financial Times newspaper on Thursday as saying the country had transferred a large part of its $30.4 billion foreign reserves out of U.S. Treasuries over the last four months.' - This is a bad signal for the US markets pre opening.
Yours
UK
Hi UK,
yes I remember now that you told us that you were on hols.
I agree that RIO and to a certain degree ANTO as well as some other large caps follow the FTSE.
As a thought it may be that these equities are easier to predict than the index because you can see what it happening in the market order book if one has level 2 data.
I am following it carefully to see if it is more predictable than the index. Not that I will stop trading the index, just more arrows in the quiver.
I agree with the pre market opening prices, same is true with D4F but I have found that any change is built in overnight some hours post US close, In the case of today it was a 5410 until about 06-00 then dropped at the open from 5396 to around 65 in the first minute.
For me that type of trading is just to scary as I find it unpredictable as to where the market open will be. In my experience it often goes counter trend in the first few minutes, indicating the overnight prices were overdone. OK, today they were indicitave of the rest of the morning.
Enjoy the rest of your freedom,
Dave
yes I remember now that you told us that you were on hols.
I agree that RIO and to a certain degree ANTO as well as some other large caps follow the FTSE.
As a thought it may be that these equities are easier to predict than the index because you can see what it happening in the market order book if one has level 2 data.
I am following it carefully to see if it is more predictable than the index. Not that I will stop trading the index, just more arrows in the quiver.
I agree with the pre market opening prices, same is true with D4F but I have found that any change is built in overnight some hours post US close, In the case of today it was a 5410 until about 06-00 then dropped at the open from 5396 to around 65 in the first minute.
For me that type of trading is just to scary as I find it unpredictable as to where the market open will be. In my experience it often goes counter trend in the first few minutes, indicating the overnight prices were overdone. OK, today they were indicitave of the rest of the morning.
Enjoy the rest of your freedom,
Dave
Euro_d said:
Yes, is does happen from time to time, but its not the norm.
I see Rio is on the march. I have to say, its caught me by supprise as I wouldn't have expected it today. I Notice the FTSE has yet to react to this climb. Strange really.
Yours
UK
The FTSE Friday, 7th October 2005
Thursdays results:
Open: 5427
Close: 5372, down 55pts. Overall, down three days on the trot for a total of 229pts. I anticipated a 230 -280 fall in the second week of October, although early I think its fizzing out.
Range: 5358- 5427. It dropped and kept on dropping. Did you notice that when the American markets opened the FTSE failed move more then several points. I think the fall is loosing momentum.
Notice how the mining companies rallied a little after the rates decision! Watch them closely tomorrow. If they rise early tomorrow morning the FTSE will follow soon there after.
IE: Rio Tinto -2,270.00 56.00 (2.53%). If Rio slides back more then 17pts early in the morning, the FTSE is going down with another heavy thump.
Dow: 10,287, down 30pts. The recent drop on both sides of the Atlantic is beginning to subside.
News items of note:
I see Blair is Iran bashing again:
LONDON (Reuters) - 'Prime Minister Tony Blair said on Thursday that evidence pointed to Iran or its Lebanese Hizbollah allies as the source of explosives used in roadside bombs in Iraq, although Britain did not have conclusive proof.' - And here's me thinking that 'Evidence' was 'Proof!' At the moment we can ill afford to have another war when the economy is tittering.
FT.com - 'London equities suffered further sharp falls in morning trade on Thursday as fears over the US economy and the shock of BP (LSE: BP.L - news) ’s weak trading statement continued to feed through to markets on both sides of the Atlantic. Although the oil and mining sectors led the way, falls were broad-based, with only a handful of stocks making it into positive territory. Markets were broadly unchanged by the widely expected decision by the Bank of England to leave interest rates unchanged at 4.5 per cent.
Oil: Down to $63.
Charts, and nothing but the charts: they are still rolled up on a distant shelf.
Companies reporting: None that shake the market any more then it is.
The FTSE tomorrow based on present news and data: with the miners rallying today and the DOW cutting its earlier losses in the closing hour, its difficult to predict. I do see a drop on first opening, about 7 -12pts, but I consider a 70-30 chance of the market rising shortly thereafter. Hark! I hear bulls sharpening their horns. There's bargains to be had!
Gut feeling: from what ever level it is, a rise after 9pm.
Will I bet? Yes.
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
Thursdays results:
Open: 5427
Close: 5372, down 55pts. Overall, down three days on the trot for a total of 229pts. I anticipated a 230 -280 fall in the second week of October, although early I think its fizzing out.
Range: 5358- 5427. It dropped and kept on dropping. Did you notice that when the American markets opened the FTSE failed move more then several points. I think the fall is loosing momentum.
Notice how the mining companies rallied a little after the rates decision! Watch them closely tomorrow. If they rise early tomorrow morning the FTSE will follow soon there after.
IE: Rio Tinto -2,270.00 56.00 (2.53%). If Rio slides back more then 17pts early in the morning, the FTSE is going down with another heavy thump.
Dow: 10,287, down 30pts. The recent drop on both sides of the Atlantic is beginning to subside.
News items of note:
I see Blair is Iran bashing again:
LONDON (Reuters) - 'Prime Minister Tony Blair said on Thursday that evidence pointed to Iran or its Lebanese Hizbollah allies as the source of explosives used in roadside bombs in Iraq, although Britain did not have conclusive proof.' - And here's me thinking that 'Evidence' was 'Proof!' At the moment we can ill afford to have another war when the economy is tittering.
FT.com - 'London equities suffered further sharp falls in morning trade on Thursday as fears over the US economy and the shock of BP (LSE: BP.L - news) ’s weak trading statement continued to feed through to markets on both sides of the Atlantic. Although the oil and mining sectors led the way, falls were broad-based, with only a handful of stocks making it into positive territory. Markets were broadly unchanged by the widely expected decision by the Bank of England to leave interest rates unchanged at 4.5 per cent.
Oil: Down to $63.
Charts, and nothing but the charts: they are still rolled up on a distant shelf.
Companies reporting: None that shake the market any more then it is.
The FTSE tomorrow based on present news and data: with the miners rallying today and the DOW cutting its earlier losses in the closing hour, its difficult to predict. I do see a drop on first opening, about 7 -12pts, but I consider a 70-30 chance of the market rising shortly thereafter. Hark! I hear bulls sharpening their horns. There's bargains to be had!
Gut feeling: from what ever level it is, a rise after 9pm.
Will I bet? Yes.
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
Ftsemad said:
Welcome back Peter, To be honest I'm missed your comments.
Sorry, I don't know of any sites in reference to market Psychology. My own knowledge is based on experience, not just of the markets but on selling in general.
You predicted a +5 or -18pts for the day. You should have read my thesis on the mining companies in my last post. At 1115am, the miners were falling. This was a big clue as to which way you should have bet.
Me, I picked the girlfriend up from the airport today so I was out of the market.
Friday, FTSE down 10pts. If I was betting I would have sided with your 11am prediction of -18pts.
So how did you do?
Yours
UK
Euro_d said:
Hi Dave,
The Bulls were waiting for someone else to go first, such is there nature.
Wait untill the US markets open, you say, a wise comment considering the sensitive market.
I've yet to study for Monday, but as it looks I'd say an early see-saw rise come morning followed by a stampede by the Bulls. I'll study the market Sunday and post further thoughts.
If I remember my historical data for October correctly, what we will have is a 50 -90pt rise, but I still need to do my home work.
Yours
P.s what part of Spain are you located?
UK
The FTSE Monday, 10th October 2005
Fridays results:
Open: 5372.
Close: 5362, down 10pts. Four days down in a row for 139pts.
Range: 5355- 5394. A swing of 39pts.
Dow: 10,292, up 5pts.
News items of note:
UK ECONOMIC ANNOUNCEMENTS
UK Aug govt house price survey (08:30)
UK BRC retail sales monitor (23:01)
UK Sept BRC retail sales monitor (23:01)
LONDON (ShareCast) - 'The market closed lower on Friday as the bears continued to dominate with London's blue chips falling more than 2% this week. The monthly jobs report in the US came in better than expected with non-farm payrolls down 35,000 in September, the first decline in more than two years but less than the 150,000 expected. The unemployment rate rose as expected to 5.1% from 4.9%.'
Charts, and nothing but the charts: they still see a small slide between 5 and 20pts.But in light of the recent events I'm not overly keen on this prediction.
Companies reporting: The only major is Northern Foods.
The FTSE tomorrow based on present news and data: all is quiet on the Market front, you can almost hear a pin drop; nobody is sure whether the slide down will pick up momentum again or turn north and start racing towards its 5500 position.
Gut feeling: I'm a bull, I fancy a rise.
Will I bet? Yes.
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
Fridays results:
Open: 5372.
Close: 5362, down 10pts. Four days down in a row for 139pts.
Range: 5355- 5394. A swing of 39pts.
Dow: 10,292, up 5pts.
News items of note:
UK ECONOMIC ANNOUNCEMENTS
UK Aug govt house price survey (08:30)
UK BRC retail sales monitor (23:01)
UK Sept BRC retail sales monitor (23:01)
LONDON (ShareCast) - 'The market closed lower on Friday as the bears continued to dominate with London's blue chips falling more than 2% this week. The monthly jobs report in the US came in better than expected with non-farm payrolls down 35,000 in September, the first decline in more than two years but less than the 150,000 expected. The unemployment rate rose as expected to 5.1% from 4.9%.'
Charts, and nothing but the charts: they still see a small slide between 5 and 20pts.But in light of the recent events I'm not overly keen on this prediction.
Companies reporting: The only major is Northern Foods.
The FTSE tomorrow based on present news and data: all is quiet on the Market front, you can almost hear a pin drop; nobody is sure whether the slide down will pick up momentum again or turn north and start racing towards its 5500 position.
Gut feeling: I'm a bull, I fancy a rise.
Will I bet? Yes.
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
Saj123,
It depends on which company you are using. Markets open for me at 7pm.
Having said that, I've already placed my bets to kick in when the market opens.
Sometimes [I work full time for a UK Bank] I get the chance to go on-line and adjust / make additional spreads throughout the day. I'm hoping I have the opportunity to watch Rio Tino tomorrow. We'll see.
In regards to betting as soon as the markets open, it's not recommended. It's best to watch the market for the first hour or so as it has a tendency to initialy rise/fall before it continues towards its true direction, which is ideal if you're watching the market all day long as you can hit the FTSE running when it settles down.
But for the masses, those who say up or down and then go about there daily doings, its best they stand by their initial judgement. And I'm one of them, bowler hat and big F*ing umbrella.
I'm not expecting the market to turn the world around tomorrow, perhaps a 5 -15pt rise. But that's enough for me.
Where do you think the FTSE's headed tomorrow?
Yours
UK
It depends on which company you are using. Markets open for me at 7pm.
Having said that, I've already placed my bets to kick in when the market opens.
Sometimes [I work full time for a UK Bank] I get the chance to go on-line and adjust / make additional spreads throughout the day. I'm hoping I have the opportunity to watch Rio Tino tomorrow. We'll see.
In regards to betting as soon as the markets open, it's not recommended. It's best to watch the market for the first hour or so as it has a tendency to initialy rise/fall before it continues towards its true direction, which is ideal if you're watching the market all day long as you can hit the FTSE running when it settles down.
But for the masses, those who say up or down and then go about there daily doings, its best they stand by their initial judgement. And I'm one of them, bowler hat and big F*ing umbrella.
I'm not expecting the market to turn the world around tomorrow, perhaps a 5 -15pt rise. But that's enough for me.
Where do you think the FTSE's headed tomorrow?
Yours
UK
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