Member Info for Ableton

BBC piece regarding Shein that some here may find interesting

https://www.youtube.com/watch?v=YMxWnJcuvx8

Link below which some here may find useful.

https://tradingeconomics.com/commodity/crude-oil

Amex are currently offering a £120 statement credit when you spend £600 or more in Burberry stores or online - Basically a 20% discount & I guess every little helps!

Hi Spidey - I was commenting generally regarding broker / analysis ratings & my comments were not specifically about BOO.

Hi Bon - Make money? Unfortunately @ the moment that is indeed the case. On a more positive note @ least we have Mike Ashley shoring up the share price.

If its more cost effective / efficient to ship from the UK than the US then closing the US distribution centre was the right call. Some will call it an embarrassing U-turn but I see it as a decisive managment decision. BOO is not a political party & can U-turn as much as they like as long as they make money.

When an institution states a stock IS NOT A BUY or similar that could mean they are quietly building a long position @ a certain price level 'X'. Went an institution states a stock IS A BUY & retail traders / investors buy that stock this allows the institution to exit / scale out of their long position @ 'X' by selling to the retail traders / investors. The institution requires willing buyers above price level 'X' 'and retail traders / investors are some of the willing buyers.

The problem with retail bulletin boards is the fact they are full of retail traders who haven't got a clue, are effectively gambling & have oversized positions with no risk management. Then when price moves in the wrong direction they post here & look for emotional support / reassurance & blame the management, Shein & anyone else they can think off except themselves. I can totally understand peoples frustration & the reasoning behind venting on LSE but if you keep making the same decisions over & over again expecting a different outcome then you'll keep loosing money.

Keep calm! Price is going lower to eventually go higher! The price range has been expanding since June so expect highs & lows to be taken out.

Price has been in a range contraction between December 2023 & the beginning of June 2024 hence the low volume.

Since June 2024 the price range has been expanding therefore expect recent highs & lows to be taken out.

Good to see the 33 level is still being heavily defended which has been the case since September 2022.

Hi Jeremy - Apologies for delay with replying.

As I mentioned in a March post BOO is one for the traders @ the moment. Fraser & others are playing ping-pong with the shorts. Fraser is a buyer below fair value (35.20) & won't buy @ a higher price. The shorts are selling @ the recent highs & price has to move lower to pair the shorts sell orders with the Fraser & others buy orders. IMO price will move or 'breakout' of the current range when the fundamentals improve or are anticipated to improve. Fraser is playing the long game.

Hi Jeremy - From the recent price swings (October - December 2023), price is currently sitting around the fair value level therefore IMO price isn't depressed & the 33 level is still being heavily defended & has been since September 2022. Professional shorter term swing traders wont buy @ the current level (34.58).

I'm not sure what all the fuss is about! BOO is currently moving sideways (consolidating) with an approximate swing high to low of 6.0% & price has been moving within a short term range since 16th April. This is normal (review the MNG chart & you'll see MNG price has been in a range since 17th April). A catalyst (news event) will no doubt move price one way or the other & in the meantime the range will be traded.

The Weekly chart shows that BOO has been in a range of sorts since June 2023 & price has tried to move out of the range on two occasions without success. The Weekly chart indicates the 33 level is being heavily defended & has been since September 2022.

Hi Jeremy - Price is currently in a trading range therefore IMO a meaningful breakout or break of structure will be when price closes above the most recent weekly high (40.50) for consecutive trading sessions. Off course we have lower time frame 'breakouts' but IMO BOO is one for the traders @ the moment & price will move or 'breakout' for the already invested when the fundamentals improve or are anticipated to improve.

Pipe Dreamer - Thank you & will do! As anticipated both BOO & ASOS did indeed move in concert today & I believe BOO was up around 2.3% intraday. Note that the BOO & ASOS daily highs occurred within the same 15 minute time window (2.45pm - 3.0pm).

Sometimes you have to just let price breath a little & do what it needs to do before it moves to where you believe it needs to go which is easier said than done!

Made a mistake? Perhaps not & you could be out by just a day!

The lower time frame charts carry little weight IMO & are only useful for very short term swing / day trading & finessing the entries & exits of longer term swing trades.

Saying that I've reviewed Tuesday's intra-day minute charts for both BOO & ASOS & the price action for both is indicating to me that there is a high probability that both BOO & ASOS will move higher on Wednesday. Note that high probability doesn't mean it will happen! But I believe the seeds of a move higher for BOO & ASOS have been sown in Tuesday afternoons price action.

Hopefully price will take out some of the recent highs BUT note that the budget could scupper any moves higher or the budget could assist with the higher move.

I thought the above was worth sharing because I'm anticipating both BOO & ASOS moving higher. GLA!

Ramping up & encouraging people to buy doesn't move price! Retail traders don't move price! Most retail traders lose money!!

I think you're spot on with your comments regarding fun punts & buying @ the 40 level & the ex trader in the attached YouTube video sums thing up perfectly regarding everyday people thinking they can make easy money from trading.

https://www.youtube.com/watch?v=1K187kvyFBw

Trading or short term investing for quick profits is very difficult to master & takes a lot of time & work to master.

Emotions? I believe most retail traders think that fixing their emotions will improve their trading which is just not the case. If you have a consistently profitable trading plan / set-up / model or similar then that actually fixes your emotions because you know your way of trading is profitable in the long term & draw-downs / losing trades are inevitable & to be expected.

Hi Pipedreamer - Thank you for the explanation & it's always interesting to see how others approach the market.

You're probably aware that all markets have seasonal tendencies & some months are more likely to be bearish or bullish or months when price consolidates.

Have you found more success with your calculations during certain times of the year & or certain times of the month?