FTSE 100 February

[bonsai]

I'm here

nothing much to do or say when its like this
except I may well look to be flat before U.S opens.

don't much like the look of the formation on S&P

btw, I think I have mentioned it before but it may be worth repeating.

if you're unsure about the direction of the 1 day because of whipsaws, its often worth putting up a 2 day.

you'll see what I mean.


(let's not get too familiar fellas !)

 

[Hooya]

I keep the 12 and 102 settings on all of my charts so my 10 min will have a 2hr & 2 day mas on it. They crossed on the 4th and the 2 hr is quite a good ma really. Anyway Lunch time. and the PM move looks like it could have started.

 

[barjon]

grumble, grumble - spent the whole morning trying to create my
own overbought/oversold indicator based on relative yield. Got
in a pretty pickle so abandoned for the time being.

wonder if 430 gonna hold

 

[Hooya]

but good effort for trying.

 

[barjon]

mmm, came from some old stuff I've cleared out.

a bank manager pal of mine only traded one share - his own bank. Bought every month the yield looked attractive, sat on the
sidelines when in "neutral" range and the sold every month when
the yield became unattractive until his stock of shares ran out. He
did quite nicely.

 

[Hooya]

FC looks like fist target of am-pm reversal met?...now if it
could just continue straight through

 

[FetteredChinos]

Indeed, looks like we could be on the way down from here. could do with it just holding firm for a while so i can get a decent entry price.

doesnt help that im having pc problems though lol!!

typical.


fc

 

[FetteredChinos]

lol FTSE seems to have heard my plea :cheesy:

 

[Hooya]

I dont know what its going on with fair value on the FTSE
these days. Very odd intraday divergences and convergences
between FUTs and Cash?

 

[FetteredChinos]

i know , god only knows what is going on with it.

i dont monitor it that much during the day any more, but i do have the igindex/capitalspreads sites up and occasionally flick over to them. been as high at 28 points on CS today, which is just daft.

that and the lack of volatility is a right pain.

today, although nice and profitable is yet another crap range day. i was expecting much more than this!

having said that, you can tell when i place my shorts as the overnight market will rocket up lol. such is my luck

how have you found today then?

im so pleased i have moved to longer-term swing trading. the last few weeks would have crippled me otherwise!

FC

 

[bonsai]

Fair value is about -23 pts,imo

if it moves much outside that , it will show you who is leading the market.

Sometimes Cash but usually futures.

I can therefore give you clues as to direction.

 

[Hooya]

I dont know if I would short overnight as any gap down will probably get filled and I be would open to the risk of a gap up. So
either way probably end up getting the same or better price
tomorrow. Difficult call when US so direction less

 

[Hooya]

FC is it that bad a range day....34 points...? but know what you mean short FTSE and dow...dow give 20points FTSE gives 6. both
trades required nearly eqaul stops aswell.

 

[jonnyy40]

Bonsai,are you MOTM for February too?

 

[bonsai]

hmm
I have cash at 32 and futs at 04.
presumably thay are pushing for the fib ?

so we may have a short coming up unless futs catches up
sb's will probably hang back ?

 

[bonsai]

jonnyy
lol

MOTM for feb has fallen at the third hurdle but may get up to finish the race.

it seems the badge is for the duration

 

[Hooya]

close at 4434.4

they are obviously playing some sort of game between the Futs
and cash but I dont know the rules????

 

[FetteredChinos]

what did i tell you??

im now short, and of course, the market instantly moves 6 points against me.

got the short in at 4402.

time for it all to go tong!

see you tmr chaps.


FC

 

[Hooya]

FC it's a bit dodgy entering a position during auction dont you think??

 

[bonsai]

FC
it might have been better to wait for Cash to reach the fib first.

it is the failure to hold on to the fib level which gives the sell signal.

we may yet push on up and through. No hurry. ?

there is another and stronger fib at 4465.