peterpr
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bracke said:
Sorry - I didn't even look at the numbers - just the percentage change indicated on my 'Sharescope'. It now logs a separate opening level at the first trading tick and hence gives a different figure than close to close when looking at a single day.
It's a mixed blessing too. Theoretically I now have additional data to work with, but it can play havoc with the appearance of a candlestick chart. For example, July 21st appears as a totally isolated island. Open 4373.9, close 4377.3, whereas the previous day's close was only 4339.4 (that's an upside gap of 34 points) and the following day's open 4339.3 (a downside gap of similar magnitude). It is taking some getting used to I can tell you.
peterpr said:
But it lets you see the gaps easily and if you are inclined, trade with them until reversal and then back the other way. The gaps you refer to both appear to have been closed.
Are you still in Bullish mode after yesterday and to-day ?
Did you take a short as you were inclined to.
Regards
bracke
peterpr
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bracke said:
Gaps are certainly obvious. I do take careful note and sometimes have a little punt but as I said yesterday, I'm much more into multi-day swings of late.
I'm certainly not bullish on anything other than technical rallies and think we may be about topping out on one right now. We are in a confirmed 'Dow theory' downtrend from the April highs. That, together with a host of other indicators, both technical and fundamental make me very wary of being caught long.
Yep, I have opened a small short at 4360. I'll add to it judiciously up to about 4380 and aggressively if we get some downward momentum. Current stop loss @ 4400 (around the 50 day MA. and on the basis that I am looking for a lower high than the last little flurry of topping action at the start of the month)
That's me. Watching the US like a hawk right now and looking forward to tomorrow.
FetteredChinos
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better late than never.
nice sell off thus far this morning. 4315 chaps?
how are we all faring today? i would still be biased short for the next couple of days..
FC
nice sell off thus far this morning. 4315 chaps?
how are we all faring today? i would still be biased short for the next couple of days..
FC
FetteredChinos
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id be wary of what DC posts on TT or here. he doesnt always post the levels he is looking for.
i PM'd him, and he too was short from the same level as i was, and looking for the same target.
i think he posted 10,100 as he was nervous about the pattern failing and us trending up all week. it therefore wasnt a genuine call. other people have pm'd me with a similar question. the levels i post are the standard ones. i post, entry, exit and stop, which i find a lot easier for people to follow, rather than saying "uh oh, we might hit 10,100 today" etc.
normally we cant call a trend week until thursday, so i think he was premature.
still, he calls it as he sees it, and we may still end up with 10,100 after all.
FC
i PM'd him, and he too was short from the same level as i was, and looking for the same target.
i think he posted 10,100 as he was nervous about the pattern failing and us trending up all week. it therefore wasnt a genuine call. other people have pm'd me with a similar question. the levels i post are the standard ones. i post, entry, exit and stop, which i find a lot easier for people to follow, rather than saying "uh oh, we might hit 10,100 today" etc.
normally we cant call a trend week until thursday, so i think he was premature.
still, he calls it as he sees it, and we may still end up with 10,100 after all.
FC
peterpr said:
peter
I said Bullish in my post ,I meant Bearish ( just a slight difference ! ) and yes you are. Like you I am very uncomfortable at going long and have been for some weeks. If I do go long, usually for a gap fill I want to be in and out sharpish There are a number of factors currently possible that could take the indices down fast, straight past the stops unless its a guaranteed one.
Regards
bracke
dc2000
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Hi Peeps
The post was in supposed to be light hearted hence all the question marks and smilies it was in response to Tom and A320s banter on going long or short and esoteric stuff
To confirm at the moment I am short
Longer term targets 10300+ for Sept
The post was in supposed to be light hearted hence all the question marks and smilies it was in response to Tom and A320s banter on going long or short and esoteric stuff
To confirm at the moment I am short
Longer term targets 10300+ for Sept
FetteredChinos
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thanks DC, sorry if i trod on your toes there. didnt mean to come out that way.
FC
FC
dc2000 said:
Bearing in mind that September is only 13 days away and another 30 days to the end of Sept
1 What is your target for the short ?
2 10,300 - Your Target = approx 400 + points. Thats a big rise what indicates such a rise ?
Regards
bracke
FetteredChinos
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bracke, a possible retracement in the price of oil would fuel (boom boom) such a rise.
400 points is only 4.5% or so, and autumn is traditionally a bullish period....
400 points is only 4.5% or so, and autumn is traditionally a bullish period....
FetteredChinos said:
FC
Yes a fall in oil price would assist but isn't there just as much chance, or even more chance , that it will rise even further.
I appreciate that Mr Bush would like to see a rise in time for the November elections but 10,300 by September seems a little early to me. If its going to happen manipulating it to occur in October would seem more likely
Regards
bracke
FetteredChinos
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agreed.
but did DC say september in which year?
but did DC say september in which year?
FetteredChinos
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good, thats how i like it 
down below 9850 today please, and pull the FTSE down to 4315 while you are at it as well!
FC
down below 9850 today please, and pull the FTSE down to 4315 while you are at it as well!
FC
alliance
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Good Afternoon all u optimists!
FC & DC:
Tnx 4 input..as I intimated in my question..I did think it was a wind up....BUT with so many ppl apparently having probs working out DC's system....I thought I would check in case FC had miscalculated....apolgies to both!
No trades here 2day...contemplated a long again last nt..but thought the better of it!
"Optimists make planes.....Pessimists make parachutes"
FC & DC:
Tnx 4 input..as I intimated in my question..I did think it was a wind up....BUT with so many ppl apparently having probs working out DC's system....I thought I would check in case FC had miscalculated....apolgies to both!
No trades here 2day...contemplated a long again last nt..but thought the better of it!
"Optimists make planes.....Pessimists make parachutes"
FetteredChinos said:good, thats how i like it
down below 9850 today please, and pull the FTSE down to 4315 while you are at it as well!
FC
My finely honed antennae indicate that you are short ( not stature ) and I also perceive that you are letting emotion come to the fore.
Regards
bracke
alliance said:Good Afternoon all u optimists!
FC & DC:
Tnx 4 input..as I intimated in my question..I did think it was a wind up....BUT with so many ppl apparently having probs working out DC's system....I thought I would check in case FC had miscalculated....apolgies to both!
No trades here 2day...contemplated a long again last nt..but thought the better of it!
"Optimists make planes.....Pessimists make parachutes"
and do Realists travel by plane but wear parachutes. Rather like placing a trade with a stoploss.
Regards
bracke