Anyone scalping the FTSE Futures??

Admittedly, the quoted monthly rates have bounced around, but the average for 2012 is 1.41%. This is a measure of the average cost of retail funds to the banking sector; the marginal cost is closer to 3%. On the other side of the balance sheet, Santander UK has recently announced a 50 basis point increase in its standard variable mortgage rate, to 4.74% from October. Clearly, the level of Bank Rate has played no role in the evolution of market rates for the past three years. The MPC’s consideration of a cut in Bank Rate is perverse and farcical in this context. As and when the UK economic news flow permits, Bank Rate should be raised in order to reconnect it to the structure of market rates. However, with UK activity indicators currently erratic and weak, now is not a good time to do this.

A dissenting view on inflation « II Today
 
et. said:
6.5 point gap.

I think this is the correction I thought would have happened sooner yesterday. I think we'll be bullish again to close the gap when this bottoms. 5716 or lower.
Click to expand...

excellent call et
 
Last edited:
et, you have a good track record and I like to read your views. I have noted a slowdown here and have got out with 14 points (5715). There is loss of momentum over the last hour and this will be followed by a movement, either up or down. Since I don't know the direction I will probably use an OCO order, if I don't oversleep the catnap I intend to take now. I woke up an hour earlier this morning.
 
SuddenDeath said:
excellent call et
Click to expand...

The Bears may have another try for a new low. I was expecting a noticeable pullback first, which I thought was going to start 10 points higher than it now appears to have done.

I expect 5722 will provide a bearish pullback and (presumably later) when we retest the range at 5730.
 
BTW my method is now changed from the first two weeks whilst still price and Fibonacci only.

Today on paper: 5,5,10,-6,5. I got caught out at 10:09 range.

Currently 'in' from 5714 expecting to get 'out' before 5722.
 
Splitlink said:
et, you have a good track record and I like to read your views. I have noted a slowdown here and have got out with 14 points (5715). There is loss of momentum over the last hour and this will be followed by a movement, either up or down. Since I don't know the direction I will probably use an OCO order, if I don't oversleep the catnap I intend to take now. I woke up an hour earlier this morning.
Click to expand...

morning Splitlink whats the temperature there in Spain?
 
One Of The Biggest Hints About Friday's Jobs Report Is Coming Out Today

This Friday's non-farm payrolls report is going to be huge for two reasons: It comes the day after Obama's nomination acceptance speech in Charlotte, and it comes ahead of next week's Fed meeting. Expectations are for a gain of 130K net new jobs.
A good hint on the jobs report comes today: Car sales for the month of August.
Historically (and this is logical) car sales move fairly consistently with changes to non-farm payrolls. People don't get new cars when they're not working.
According to Calculated Risk, the consensus is for 14.3 million annualized cars to be sold.
Here's a chart of population adjusted car sales with monthly changes to non-farm payrolls


Read more: Motor Vehicle Sales Preview - Business Insider
 
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