SuddenDeath
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1540 on cash SP500 looks like big level
1540 on cash SP500 looks like big level
Talbs!
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well its holding in well for now !! Still lots of good companies to buy in the S&P so cant see it falling off a cliff like europe! Also minor detail of 85 bio a month going into it ! Topstep rule sees low today or tomorrow before moving back up to highs !
Talbs!
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ha u might need a bit more than 20k then ! i have a Porsche but its a cayenne with a baby seat in the back, plus my missus drives it most of the time anyway ! So i have a porsche sounds great, the reality is very different !
The joys of fatherhood.. As i am no longer in the 1st flush of youth and all my kids have now left home, a Porsche would be very practical... if I could get in the damn thing with my bad back !!
Dick Lexic
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before i make an offer may i ask how much drawdown/up your system has experienced ?
If I had a clue what that meant I would love to tell you !! Do you mean am I in the black overall or do the 15 red's outweigh the 85 blacks?
And just so you know I have an offer of 20p already on the table... so think big with your offer.. !!
Dick Lexic
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well if you place a trade say long ftse 6240 the market then moves down to 6220 giving a drawdown of 20 points before moving back up for a profit
This is something I posted US pre-market yesterday that you might find useful:
Market Correction Phase Update:
As I mentioned last Thursday, I thought the market closing high had been put in and we would see further declines in the US markets. That appears to be playing out so far. My expectations are that we are likely to be in a major correction phase now. This has a potential to give a 10%+ correction in the markets overall. Please note, I am not saying this is definitely a major correction, anyone who has followed my analysis will know I do not make bold ‘guesses’, I make objective claims based on pure technical analysis and make trades on that basis also. So it is important to continue to watch the technicals and analyse them objectively as the story unfolds, as it is too soon to make any real claims with a sound basis and validity.
On Monday the SPY broke 3 key daily levels that I’ve been mentioning for some time and on decent volume, whilst yesterday we saw a decent bounce overall, but the intra-day action was relatively poor and on lighter volume. The gap up yesterday was significant and opened as to suggest further strength intra-day, which is exactly what happened and I’d said to watch the lower level of 156.04 which was pierced but held and the upper level of 157.52, which was tagged towards the close. But despite this, markets are still weak and technicals are suggesting more declines.
It would have been much better if this fall had not occurred during Options Ex week as it just complicates things and anything can happen, but, unless the charts dictate otherwise, we should see 154 this week on the SPY, which is a minor level. Depending on how price reacts there, we could see a fall to the first major which level is 152.89-153 which is “Target 1” (T1). However, it is possible we could see a small bounce there, otherwise, we’re heading straight to T1. I would expect a more sustained bounce at T1 (note T1 could pierce down to 152 before bouncing). If this plays out to expectations we could hit T1 around 25th April and see a bounce into early May. I’ve not had time yet to really consider actual dates, but this is just a quick guide on timing. I do expect a decent bounce from T1 and this could take us back up to 156.48 or 157.52 but too early to say until we see the technicals.
Again, depending on technicals, the next decent level to the downside is around 149.50-150.15, and the next major level, “T2” is at 147-147.25. T3 is at 140.78-142. And I do believe these downside targets are achievable, however, they are a long way off and too early to be speaking of those levels right now. Markets are still in a strong position in terms of price, so let’s not think about the lower levels until key levels are broken. So for now, the line in the sand is T1, at 152.89-153. A lot of analysts will tell you markets are going to fall ‘x’ amount, or are going to climb to new highs, but that’s all nonsense as anything can happen as long as key levels hold or until key levels are broken.
The charts are a thing of beauty, they really do tell a story but it’s up to you to read them properly and decode their meanings, there’s no point in guessing because you’ll either be right or you’ll be wrong!
Market Correction Phase Update:
As I mentioned last Thursday, I thought the market closing high had been put in and we would see further declines in the US markets. That appears to be playing out so far. My expectations are that we are likely to be in a major correction phase now. This has a potential to give a 10%+ correction in the markets overall. Please note, I am not saying this is definitely a major correction, anyone who has followed my analysis will know I do not make bold ‘guesses’, I make objective claims based on pure technical analysis and make trades on that basis also. So it is important to continue to watch the technicals and analyse them objectively as the story unfolds, as it is too soon to make any real claims with a sound basis and validity.
On Monday the SPY broke 3 key daily levels that I’ve been mentioning for some time and on decent volume, whilst yesterday we saw a decent bounce overall, but the intra-day action was relatively poor and on lighter volume. The gap up yesterday was significant and opened as to suggest further strength intra-day, which is exactly what happened and I’d said to watch the lower level of 156.04 which was pierced but held and the upper level of 157.52, which was tagged towards the close. But despite this, markets are still weak and technicals are suggesting more declines.
It would have been much better if this fall had not occurred during Options Ex week as it just complicates things and anything can happen, but, unless the charts dictate otherwise, we should see 154 this week on the SPY, which is a minor level. Depending on how price reacts there, we could see a fall to the first major which level is 152.89-153 which is “Target 1” (T1). However, it is possible we could see a small bounce there, otherwise, we’re heading straight to T1. I would expect a more sustained bounce at T1 (note T1 could pierce down to 152 before bouncing). If this plays out to expectations we could hit T1 around 25th April and see a bounce into early May. I’ve not had time yet to really consider actual dates, but this is just a quick guide on timing. I do expect a decent bounce from T1 and this could take us back up to 156.48 or 157.52 but too early to say until we see the technicals.
Again, depending on technicals, the next decent level to the downside is around 149.50-150.15, and the next major level, “T2” is at 147-147.25. T3 is at 140.78-142. And I do believe these downside targets are achievable, however, they are a long way off and too early to be speaking of those levels right now. Markets are still in a strong position in terms of price, so let’s not think about the lower levels until key levels are broken. So for now, the line in the sand is T1, at 152.89-153. A lot of analysts will tell you markets are going to fall ‘x’ amount, or are going to climb to new highs, but that’s all nonsense as anything can happen as long as key levels hold or until key levels are broken.
The charts are a thing of beauty, they really do tell a story but it’s up to you to read them properly and decode their meanings, there’s no point in guessing because you’ll either be right or you’ll be wrong!
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Talbs!
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Cool im buying !
Oh right... I like to enter a trade after I have seen 2 or more consecutive green or red candles on the 5 min charts... not every time, just those that are pronounced moves i.e with a spread between high and low of maybe 10 points or more... then I would nick 2,3,4 points even just the 1 if that is all I can take, I do not set a stop loss as I will either bail out if it moves more than 3 points away from me and start again ( in truth there have been times where I am convinced that I know better than the market and it will turn round and have let it go for some 30 points before it either turns or i just take a BIG hit ) I guess this is your def of drawdown /up... I am training myself / learning not to do this... hence my comment earlier about discipline..
Talbs!
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3 ticks is tight stuff especially in the dax ! i have my charts set at certain levels, i want to be long above and short below and thats my turning points, as markets can fly about these days, trend is your friend , just try not to get whipped out in the mean time !
Yes, it is tight... As I gain more experience / confidence i will widen it.. for now it limits the down side. Overall I have my nose in front with some very good days and some average ones... in-between i have had terrible days and just not so good days... your offer of 20p still stand???
Am off to spend some of the beer tokens i earnt the other day now..
Talbs!
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I'm hoping someone else is going to chip in the other 19,999.80 ! Enjoy ! Markets are tough at mom ! Beers well deserves to anyone who is in the black
ASX and FTSE look like they are now at key supports areas.
Looking for longs in the ASX up to 4,960, current 4,920
Off to Vanuatu for a week.
Getting market withdrawal symptoms already
Perhaps I have gambling problem
There is a stock market in the South Pacific.
South Pacific Stock Exchange - Wikipedia, the free encyclopedia
Picture of my porsche from the winnings in April.
Have a great weekend.
Looking for longs in the ASX up to 4,960, current 4,920
Off to Vanuatu for a week.
Getting market withdrawal symptoms already
Perhaps I have gambling problem
There is a stock market in the South Pacific.
South Pacific Stock Exchange - Wikipedia, the free encyclopedia
Picture of my porsche from the winnings in April.
Have a great weekend.
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Talbs!
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Morning guys ! God that guy is like a broken record ! Yes we all know you were homeless once and had ten pounds and gave half of it to a stranger ! Maybe it's the not the fact someone has stolen his clients emails that he should be concerned about and more that they are leaving him because he won't shut up about how much of a saint he is ! I'm sure people subscribe to his website for ftse levels not to here his sob story every 5 mins !
Dick Lexic
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still in play.....
SuddenDeath
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morning everyone
SP500 june 10pts below neutral,
7513 is buy pivot on dax
GS,JPM share prices look weak. 6mth charts
SP500 june 10pts below neutral,
7513 is buy pivot on dax
GS,JPM share prices look weak. 6mth charts
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Dick Lexic
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ftse has a big res area at 6274 similar situ with dax 7536 ....first fence for the bulls if they are up for it
