Anyone scalping the FTSE Futures??

[Mornington Crescent]

I have a line in the sand at 5540

 

[DaddyJohn]

this is exactly the kind of algo activity that should be scrutinized by the authorities... scandalous..

 

[dc2000]

havnt had chance to read but Im guessing your all over this one

 

[DaddyJohn]

havnt had chance to read but Im guessing your all over this one

correct me if I am wrong please - but heading for 5444

 

[Mornington Crescent]

well if it looks like a top acts like top and smells like a top, its my guess that's what it is

I'll worry about why later

watch out for a back test

 

[dc2000]

DC, if we are entering a SS month 9th Dec... Under the Taylor rules done we need to put in a higher high than we got in the Sell month?

yes but that needs to come after monday and my preference is thursday and a slow day friday

 

[DaddyJohn]

yes but that needs to come after monday and my preference is thursday and a slow day friday

do you think the 5444 today though?

 

[dc2000]

DC.. apologies for stupid comment above... this only applies of course if we are in a uptrend.. if we are in a down trend then the Sell month should NOT make a high above the Buy month

I would have thought just short of 5700 should do it though?? (take out stops just above trend line..

that would be where I expect it although FTSE has yet to give target As it stands Im happy to play the uptrend even though last month when no upper targets were produced I was a little uneasy

 

[dc2000]

correct me if I am wrong please - but heading for 5444

5442 but should come after hours 5pm+

 

[dc2000]

do you think the 5444 today though?

or could do it tomorrow morning
The dow has given a new weekly target 12305 but has to hit bare minimum 12032 first FTSE still has 5642 which is doable by monday from 5442 a close around the 5489 area would be on the money with perhapse a 471 first

 

[Dommo]

A quick question for FTSE futures traders - when the market is closed overnight, would you employ a spread bet/cfd (ie synthetic) facility? You might see overnight entries/exits which have vanished when LIFFE reopens. Or, given the high correlation, would you (say) use Dow or SP futures as a proxy?

 

[Splitlink]

5500 is very important because of the 4 hour chart lows over the past few days.

 

[Mornington Crescent]

A quick question for FTSE futures traders - when the market is closed overnight, would you employ a spread bet/cfd (ie synthetic) facility? You might see overnight entries/exits which have vanished when LIFFE reopens. Or, given the high correlation, would you (say) use Dow or SP futures as a proxy?

its not closed for all that long these days

as a matter of interest can you recall a change of trend which ocurred overnight ?

 

[reksa]

5500 is very important because of the 4 hour chart lows over the past few days.

Big time. A close below 5500? Or do we get there and bounce back to yesterdays close.

 

[dc2000]

minimum FTSE needs to do is a 481 so limits placed 481 to 471 just incase of spike and Im guessing that where most will be putting stops right now

 

[dc2000]

its not closed for all that long these days

as a matter of interest can you recall a change of trend which ocurred overnight ?

the only move I remember was the capture of saddam that caused globex to go wild

 

[Mornington Crescent]

the only move I remember was the capture of saddam that caused globex to go wild

I thought that happened over the weekend

but memory aint what it used to be

having looked back on my chart, it didnt have any effect on the existing trend

 

[Dommo]

its not closed for all that long these days

as a matter of interest can you recall a change of trend which ocurred overnight ?

Yes, scratch that. I'm well out of date - I thought Z still opened at 8!

I don't see any major trend changes recently, although the odd 50 point swing originates in the Asian session.

Thanks.

 

[Splitlink]

Well, as I said, my margin requirement is a bit close, so I'm out while it's deciding what to do. I made 7 points on that trade. At one time it was 24. Just shows you what happens when you let the market take your profits.

 

[Splitlink]

Short again. now, 5523.5