FTSE 100 - February 2005

[bracke]

Originally 4998 and looking for a 30 or so point limit to exit. But I chickened out and exited this morning at 4978.

We are still due a significant retracement with the price tracking the upper boundaries of my channels on all timeframes and the daily RSI at a record high for the past 7 years. BUT that 5000 level is a watershed and just tooooo close. We'll get a big spike up when it is breached - no matter how temporary - before the trend continues (for a while )

Pleased to read that sense overrode bravado.

So assuming sense continues to prevail when do you next intend to trade short ?

Regards

bracke

 

[peterpr]

Pleased to read that sense overrode bravado.
So assuming sense continues to prevail when do you next intend to trade short ?
bracke

Maybe later today. Have to see how things progress - you know, the US and all.

Not sure about the sense and bravado bit though - more like fear trumping judgement

Certainly won't be going long until all the overbought works itself out out - which could be by choppy sideways movement or a decent tradable drop over a few days.

That's the trouble with gearing - difficult to ride the trend undulations. Have to try to trade the peaks and valleys with the bias in favour of the trend. Keeps me on my toes when I go against it though !

 

[bracke]

Maybe later today. Have to see how things progress - you know, the US and all.

Not sure about the sense and bravado bit though - more like fear trumping judgement

Certainly won't be going long until all the overbought works itself out out - which could be by choppy sideways movement or a decent tradable drop over a few days.

That's the trouble with gearing - difficult to ride the trend undulations. Have to try to trade the peaks and valleys with the bias in favour of the trend. Keeps me on my toes when I go against it though !

Nothing like a good dose of fear to bring matters into perspective.

Can't say I like the sound of that last paragraph, a bit too rich (or should it be poor) for my delicate constitution.

It would appear that Seymour is also singing from the same hymn book as yourself ( singing and hymns don't really fit with Seymour do they).

Regards

bracke

 

[peterpr]

Well, for all intents and purposes, it looks as though Barjon's marketing men have got pretty much what they need - headlines about Footsie breaching the 5000 barrier - new multi-year highs etc etc.

So do they really need any more immediate upside? and if not where's the rationale for much more without a pretty serious retrace?

Any offers?

 

[User]

Their cant be more upside until we get some downside. We need a retracement? So peterpr like you said they've got the headlines now maybe a little bit a reality!

 

[cab37]

is there not a ftse future thread anywhere guys?

 

[bracke]

Well, for all intents and purposes, it looks as though Barjon's marketing men have got pretty much what they need - headlines about Footsie breaching the 5000 barrier - new multi-year highs etc etc.

So do they really need any more immediate upside? and if not where's the rationale for much more without a pretty serious retrace?

Any offers?

Why not just sideways movement for a while. That gives time for a breather before the next push upwards and satisfies the marketing people if it holds close to 5000.

Surely the ftse does not operate on rationale, I thought it was fear and greed.

Regards

bracke

 

[bracke]

is there not a ftse future thread anywhere guys?

Yes there are 1 or 2. I suggest you do a thread search and take your pick.
If you want to know how to do a search come back to me.
Welcome to this thread which has a better class of poster than most.

Regards

bracke

 

[peterpr]

is there not a ftse future thread anywhere guys?

Cab37
For all practical purposes, that's what this thread is. The only way to trade this index is via the LIFFE future or a SB or CFD both of which effectively track the future rather than the index proper

 

[FetteredChinos]

is there not a ftse future thread anywhere guys?

im currently trading off next week's numbers..

i see a close at 4834 myself.

but then again, all this choir practice has affected my (crystal) balls.

 

[peterpr]

Why not just sideways movement for a while. That gives time for a breather before the next push upwards and satisfies the marketing people if it holds close to 5000.

Surely the ftse does not operate on rationale, I thought it was fear and greed.

The 'rationale' bit referred to any credible argument for an alternative view of what it will do.

Certainly could just move sideways, but in the nature of things, sideways will inevitably mean shallow ups and downs. Just a question of how shallow is shallow I guess - or how far below 5000 before proceeding above and beyond 5000 - if indeed that's what it's going to do - after the 'sideways' bit that is

 

[bracke]

im currently trading off next week's numbers..

i see a close at 4834 myself.

but then again, all this choir practice has affected my (crystal) balls.

No problem Seymour, you can continue as a Castrato, that way you have less for the market to take.

Regards

bracke

 

[peterpr]

No problem Seymour, you can continue as a Castrato, that way you have less for the market to take.
bracke

BLIMEY BRACKE

Nearly bust a gut laughing at that one - where do you get them from??

 

[bracke]

The 'rationale' bit referred to any credible argument for an alternative view of what it will do.

Certainly could just move sideways, but in the nature of things, sideways will inevitably mean shallow ups and downs. Just a question of how shallow is shallow I guess - or how far below 5000 before proceeding above and beyond 5000 - if indeed that's what it's going to do - after the 'sideways' bit that is

Yes ok Peter ( I best humour him until eod )

Regards

bracke

 

[bracke]

BLIMEY BRACKE

Nearly bust a gut laughing at that one - where do you get them from??

I don't know Peter, I really ought to get out more.

Regards

bracke

 

[FetteredChinos]

congratulations on joining the exclusive club Bracke..

1 big one, or 1000 small ones

 

[bracke]

congratulations on joining the exclusive club Bracke..

1 big one, or 1000 small ones

Thank you Seymour.

1 big one please.

By the way was your 4834 close for to-day or sometime in the distant future ?

Regards

bracke

 

[FetteredChinos]

according to my data, i think 4834 is next friday's close..

but i may be looking at this pc upside down...

 

[bracke]

according to my data, i think 4834 is next friday's close..

but i may be looking at this pc upside down...

You'll be posting that on 'Here's another one' no doubt.

Regards

bracke

 

[FetteredChinos]

funny you should say that..

i was thinking about starting a new thread this week:-

"here's another here's another one"