Gents. Are the charts a visual aid to the daily movements or do you use them for more than that?
Nice play on the DOW this week, bought at 7823, sold at 250 points above this afternoon. All took place while I was playing golf, which was nice ;o)
Started again on the FTSE & DAX. Currently 40 points to the bad but confident that both will retrace in to decent positive territory early part of next week or even tonight.
I'm thinking that the DOW is a short at 8200, would be interested to hear anyone elses opinion on that
KIS..stochastics and RSI very overbought @ 80/100 on FTSE. So while we have a newly revised support tern line @ 4077 ( 3950 2 weeks ago), we have now touched the upper trend line. I just wonder what kind of retrace we will get.The "technical insight" function on www.iii.co.uk for the FTSE had a 4800 target on the 29th april, based on techs. I am undecided. But a breach of 4077-4100 is bad news
So for me, it's a buy at 4100 and a sell on any day where it rises 3%, for a 1% swing back to a 2% rise on the day. The mad daily swings seem to be getting fewer and farther between making it a less frequent trade.
KIS - A 5-6% fall in a day! Jeez, you really think it could?
I'm sweating on my oil short, really badly timed methinks now. It's risen pretty unabated 10% this week, seriously needs to be pegged back a bit or I'm broke!
Tell me about it. $1100 down the pan in 3 days, as it stands. Can't possibly continue to rise without a retrace, surely...
Back to FTSE 100 ;o)...
It looks like 4500 could come true for you today, Keepitsimple.
Long and shorts basically its gambling and it is something I have never done until now having just bought RBS and HSBC. A friend bought HSBC at £3.95. he is a builder and I suggest that a different invester is emerging. Ladies and Gentleman professionals may I offer a view from a complete layman but a commonsence ( or not ) financial position.
I know nothing about the stock market but I do know that our whole capitalistic society revolves around a hard core of banks they will survive. Further they will start ripping us off by charging to use the hole in the wall etc etc. In the end they are playing the numbers game, 60 million people a handfull of big banks. Sorry to sound so hard but thats the truth. HSBC is leading the pack by at least being solvent, the rest will followin time. I and others need more than the pathetic .5% offered on interest rates, so if the shares ( in banks only no others will be purchased ) go up a mere 12% a year, then I shall be happy. I would suggest there are many older people having a punt like me that otherwise would not. Finally the damage is basically out in the open at long last, Northern Rock shareholders lost it all, at this time I cannot see that happening again. Just Barclays to buy and a bank that I personaly hate, lloyds TSB. As said earlier no other stock.
Thanks for the tips Keepitsimple, I agree with all you say however I am thinking two to five years possibly as the long view. In shares would this time span be about right, depending on share value increase of course?
Yes, I too am expecting a drop but lacked confidence to short the FTSE 100 or DAX 30 more than a few points yesterday. I may go with mini contracts for £2 and €5 a point for 200 points but I prefer higher stakes and shorter intervals.
I continue to do well with the EUR/GBP shorts...
Well, I have the bottle. My short from 4350ish isn't looking too clever now but it is insurance for my other positions.
KIS - Thinking similar to you and targeting levels to short from across the indices, looking at market reversal confirmation this week but the same can be said of the previous few weeks. Playing it how it looks, even if it is rather choppy. Oil is looking a little weak as well, seemed to have bounced off $60
You were correct about oil, I stupidly opened a long last week at $57.60 and had a hair raising ride before bottling it and closing $30 in profit. It's continued it's rise to $58+. I think another test of $60 is on the way, but surely with global demand so low it's got to sink back down to $50 again, even with reduced quotas... Any ideas? I've put in an order to go short at $59.77, and long if it drops to $56.65
As for the FTSE, 4400 is a decent level to start shorting, if it's going down to test 4000, is it not? Just opened my short so no doubt we're about to see a rocket to 4500 ;o)
On another note, had a successful long on the DAX this morning. FTSE & DAX seem to follow the same path eventually. FTSE was 40 points (following the DOW) up with the DAX 10 point down. Both FTSE & DAX are now 55 points up.
LOL, guaranteed wasn't it!!!
Funny old market isn't it ;p SnP broke 900 again perhaps a pump into close. Gonna have to look at it again, will still look at a short on oil at around $60 but with an appropriate stop
Well, it's not exactly BURSTING through 4500 just yet. I continue to hold a short from 4418 so a return to 4400 or below would suit me fine (with regard to that position).
FWIW (not much) I think that IF we see a day where the FTSE falls in excess of 5% then we may see it fall under 4000. At the moment there's buying pressure the closer it gets to 4200 and selling pressure at 4500.
We'll see in time. I know that if the FTSE touches 4000 again then I'm opening a very long long! Ditto the DOW at 7800
Will do. Everytime I log on to my spread account I try to make a call and invariably I end up losing. When I make my call offline and then stick to it I'm usually ok.
FTSE at 4269 is where I'm going long, looking at the trend since March it's on the up with a few set backs on the way. After 4269 I think we'll test 4700. Let's see just how wrong I get it this time!!
I'm such a spanner. No clear direction on DAX, FTSE or DOW. All three could go either way so decided to short oil at 60.60. Lost my bottle 10 points to the good and it then shot down another 50 points. Feeling that I'd missed out I tried to guess it would bounce at 60.40 and left licking my wounds at 60.20. It still seems to be struggling to pass $61. I'd guess that if it touches $62 it could go a fair bit higher.
Even more irritating is that I was only 25 points above today's high with a short. I ordered it last night and went off to work today. Had it hit the target I would've come home $500 up and would've closed it immediately. Dullards never win...
What was I saying about rash decisions again?...