Diary of a swing spread better

[hungvir]

Lse

A strong ceiling is formed for LSE and it's a safe bet to sell at around 850 with stop loss just above it. The share may be confined to this range for a while so a simple strategy of buying at support and selling at resistance may earn 30-40 points easily.

 

[hungvir]

Reuters

There's no doubt that the change of trend from up to down has occurred. I've added RTR to my short watch list.

 

[johnsavva]

Hi

I am new on this forum.

I have shorted EMG stock this week too. There appears to be a massive buy order after hours on Friday....

Good luck

 

[hungvir]

Hi

I am new on this forum.

I have shorted EMG stock this week too. There appears to be an massive buy order after hours on Friday....

Good luck

Johnsawa,

Welcome to T2W. EMG is more like a day trading stock. I think the share may still rise further but with pull backs.

Later,

Hung

 

[hungvir]

Sorry I misspelled your name, johnsavva. How long have you been spread betting?

 

[hungvir]

Ftse

It's decision time for the FTSE.

The range has contracted considerably and I suspect it's more likely to go down than up. All the good news, takeover fever... has been factored in.

 

[Splitlink]

It's decision time for the FTSE.

The range has contracted considerably and I suspect it's more likely to go down than up. All the good news, takeover fever... has been factored in.

You could be right, no one knows what is going to happen the next day! I see no breakdown of the FTSE, yet, though, and am not thinking of shorting FTSE above 5800. Individual shares may well be provide shorting opportunities, one poster mentions RTR and I had a bad experience with DMGT last week, as I mentioned before.

There is no doubt that it takes a brave man to stick his neck out. Give me a medal, someone,
and let's hope that it is not posthumous.

Split

 

[hungvir]

...Give me a medal, someone,
and let's hope that it is not posthumous.

Split

OBE for bravery awarded

I am looking for opportunities to short RTR. When a share is dumped by the city, I don't see how it can go up without coming down again.

Later,

Hung

 

[johnsavva]

Hung

Thats ok. Spread betting for 7 years, with say a 2 year gap in between.

I've got a tendency to go short these days....not very clever I know.

I trade XTA, Rio and EMG.

Regards

John

 

[hungvir]

Hung

Thats ok. Spread betting for 7 years, with say a 2 year gap in between.

I've got a tendency to go short these days....not very clever I know.

I trade XTA, Rio and EMG.

Regards

John

You're a senior spread better then And you must have been doing well with Rio. If I remember correctly it dropped nearly 200 points or more last week?!

Enjoy your weekend!

Hung

 

[hungvir]

LSE director's dealing

LSE's CEO Clara Furse bought 367,000 shares at a little more than 811 last week. So she put money where her mouth is. But I still think the share will be zig-zagging a bit before it can move up or even down. In at around 800 - out at 850 remains my strategy.

 

[hungvir]

Bullish sentiment

Reading weekend newspapers (FT, Sunday Times, Guardian, Independent) gives me the impression that nothing can prevent this market from rising further. I don't think it has a lot to do with values but rather no one wants to miss an opportunity to make money.

In the short term, they are probably right. But I guess many of them will be frozen when a big pull back happen in the next few months (will there be one?!)

But for the time being, 'the trend is your friend'.

 

[hungvir]

''How to scalp any market''

I am thinking of buying this book just to have more understanding about scalpers. But after reading a review on amazon, I decided not to.

 

[jimbo57]

I am thinking of buying this book just to have more understanding about scalpers. But after reading a review on amazon, I decided not to.

Whilst I have no doubt the book is rubbish, I scanned the amazon reviews and saw that one of the reviewers had 53 (!) books in his trading library.

This also implies, to me at any rate, that the reviewers are also rubbish.

 

[hungvir]

Whilst I have no doubt the book is rubbish, I scanned the amazon reviews and saw that one of the reviewers had 53 (!) books in his trading library.

This also implies, to me at any rate, that the reviewers are also rubbish.

Well spotted! I did not notice that. They save me enough money for a losing trade though. With stop loss that is

 

[hungvir]

Marc Rivalland

I wrote to Mark Rivalland, the author of "Mark Rivalland on Swing Trading" and ask about how he's been doing with trading since the book launch. Here's part of the reply.

Trading since publication of the book- 2003 was of course great, 2004 was fine, 2005 poor (I was concentrating on US markets rather than the FTSE) although I draw comfort from the fact that the Boston Globe reports that John Henry, owner of the Boston Red Sox, and a Futures Trader Hall of Famer lost 16% of his $3 billion fund in the 10 months to end of October 2005. And he wasn't really worried about it. He said you can't make money when every nascent trend fizzles out.

We need 2006 to be a year of instability. Please let something happen. These markets are incredibly dull.

 

[hungvir]

Monday plan

Short
- AZN - stop sell 2610/ stop buy 2666 once position is open
- LSE - limit sell 850/ stop buy 861

Long
- LLOY - limit buy 560/ stop sell 538

To watch

Short
RTR - need 3 days up
RNK -
VOD

 

[Splitlink]

Short
- AZN - stop sell 2610/ stop buy 2666 once position is open
- LSE - limit sell 850/ stop buy 861

Long
- LLOY - limit buy 560/ stop sell 538

To watch

Short
RTR - need 3 days up
RNK -
VOD

I almost posted my selection but what if I'm wrong?

Anyway, it's your thread- you take the stick! (and the credit)

Good Luck

Split

 

[hungvir]

I almost posted my selection but what if I'm wrong?

Anyway, it's your thread- you take the stick! (and the credit)

Good Luck

Split

Thanks, Split!

Anyway, you're allowed to be wrong half of the time if not more What matters is the end result moneywise. If you lose pennies and win pounds then why bother.

I already bouth LLOY March at 548, stop loss at 538 and limit sell at 578. I am just in for 30 points.

Limit sell order is in place for LSE. I think 850 is quite a big wall to break through.

Best,

Hung

 

[pboi]

WEll I was right about the DOW heading down by the end of the week...think FTSE then DAX will follow

S&P hasnt made its mind up yet.