Anyone scalping the FTSE Futures??

MartinC-J said:
Thanks DJ. What are your reasons for watching the euro? And what effect does it have on the index futures?

On the FTSE, we got a bounce off the 50% fib level (high 5323 at 11am , low 5189 at 8am). What was interesting on the price action was that the three 5 min candles (ie the 14:40, 14:45 and 14:50)that approached that level all pulled back. It shows how many people were looking for that bounce off the 50%. Every time it got close it was bought up.
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Dollar weakness is good for equity prices and very good for commodities..and at the end of the day, FTSE is approx 60% weighted towards oil, gas and mining
 
DaddyJohn said:
this is the late rally DC spoke of... clearly it is the oil options dynamics... as traders push oil price up to squeeze options traders... where it will stop... no idea...
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DJ - Which oil contract is expiring? I don't follow it much. I have QMZ1 (Crude Oil Mini) or NSEA-MZ1 (ICE Brent Crude).

It's now 4pm and my guess is the FTSE price got here too soon, so will waffle around for 20 minutes before the final push up at 4:30pm.
 
MartinC-J said:
DJ - Which oil contract is expiring? I don't follow it much. I have QMZ1 (Crude Oil Mini) or NSEA-MZ1 (ICE Brent Crude).

It's now 4pm and my guess is the FTSE price got here too soon, so will waffle around for 20 minutes before the final push up at 4:30pm.
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WTI Crude October contract
 
MartinC-J said:
DJ - Which oil contract is expiring? I don't follow it much. I have QMZ1 (Crude Oil Mini) or NSEA-MZ1 (ICE Brent Crude).

It's now 4pm and my guess is the FTSE price got here too soon, so will waffle around for 20 minutes before the final push up at 4:30pm.
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Martin, am not sure it will push up at 4.30pm, this is in my view the options expiry, which they all know could retrace tomorrow. So, I am thinking that there will be some profit taking at the cash close.. I thinks I might sit on my hands on this one .
 
DaddyJohn said:
Martin, am not sure it will push up at 4.30pm, this is in my view the options expiry, which they all know could retrace tomorrow. So, I am thinking that there will be some profit taking at the cash close.. I thinks I might sit on my hands on this one .
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you were right :) but the push wasn't so big
 
Well you got your profit taking at the close, but the 4:29pm trade was actually a long. I was short at 16:27 at 5330.5, but I scratched for -2 pts at 16:28.39 and reversed long at 5332, 2 contracts. Closed one for 6 pts, and the second for 10. I try not to let the trade last longer than 16:29:59.

As for this afternoons price action, we got a perfect 161.8% extension from yesterdays high and todays low. There is clearly something to this fib extension "rubbish"!
 
Dick Lexic said:
market one step ahead? maybe move down from 400 was all about italy and today is all about clobbering the shorts. us/uk seem a bit out of sync 292 key area for me.
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well that would have given a bit of pain to the shorts but where from here? hmmmm

great game init:)
 
Dick Lexic said:
I was meaning more longer term, big leg down now or more upside?

For now I'm netural

I dont want to be the only bull in the village:LOL:
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at the moment I have an itial target of 5043 for the end of the week, but that assumes Uncle Ben does the twist. If he says "cant be bothered to do anything" then, target is much lower... if he says I am turning the press back on ... then it's all up to at least 4500 I suppose.
 
DaddyJohn said:
at the moment I have an itial target of 5043 for the end of the week, but that assumes Uncle Ben does the twist. If he says "cant be bothered to do anything" then, target is much lower... if he says I am turning the press back on ... then it's all up to at least 4500 I suppose.
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when do we have the pleasure of listening to him?
 
reksa said:
FOMC statement Wed 19:15.
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that would fit perfectly the pattern has changed for the FTSE and today the DOW changed to same,
tomorrow both should sell hard the DOW shouldnt be bothered about any gap at open
for thurday the FTSE will present an early buy op whilst the DOW should pump 1st 16mins then dump hard
late day rally going into all day friday or could buy from a big gap lower
10824 still in play


no guesses on the cryptic clues posted this week
 
dc2000 said:
appologies for not replying to PMs Ive received seems all our offspring require help all at the same time:confused:

Anyway heres the skinny as they say
back in a few days
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Well, well.. We have Lloyd George , Douglas Bader, and. ... I think either Liz Taylor or Scarlet O'Hara.... Should we be thinking in terms of the professions they represent? Or the people specifically?
 
dc2000 said:
that would fit perfectly the pattern has changed for the FTSE and today the DOW changed to same,
tomorrow both should sell hard the DOW shouldnt be bothered about any gap at open
for thurday the FTSE will present an early buy op whilst the DOW should pump 1st 16mins then dump hard
late day rally going into all day friday or could buy from a big gap lower
10824 still in play


no guesses on the cryptic clues posted this week
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DC / all, any thoughts on a target today?? On the cash I have 5207 to 5230
 
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