FTSE 100 intraday trading - JULY 2003

[Ghost Dog]

But are the yanks going for a second leg down? It has that look about it...but getting near to 'gut feel' now. Time for a lie down if that carries on...

I make the stop running retracement level at around 984.3 on S&P. If they go through that three times and back the theory says down. Even then, taking advantage is another matter...

 

[bonsai]

oh well
I would have thought the warning of a 'suckers' rally might
have been worth a vote or two ?

lol

 

[reactor]

lol

is this going to turn into the US indices thread, whereby we vote each other up to ridiculous levels?!

i'll scratch your back if you scratch mine!

 

[bonsai]

yes, I saw that too.
that's what made me think about it !
lol

 

[Ghost Dog]

I can see the good intentions, but they should get all the voting stuff off the site and strip it down a little while they're at it. It might run faster, and start to rival the increasingly dead advfn, which I hardly ever look at now.

Not sure the UK can support 3 sites with various cliques split between them.

 

[jonnyy40]

I voted for people in the belief it was a secret ballot,when I found otherwise,I stopped.

 

[bonsai]

market makers day today ?
nice opening gap stole 20 pts and then a false rally on the back of
a few companies may have pulled people in.
And taken out a lot of stops.
As soon as they could, they went back to fill the gap.
That's nasty !
But they are not a charity, neither are the big traders.

 

[barjon]

Bonsai

pretty flimsy volume during your suckers rally I notice, which
perpetuates the seeming lack of real interest outside the
90 - 40 range (or 85 - 45 as I have it!!). Hanging fire whilst
waiting for DOW to break?

A lot of 'uncertainty' (bull/bear standoffs) candlesticks in the
basket and a slight bearish preponderance overall. I suppose
DOW will set the scene again (I wonder if they take as much
notice of what's happened to the ftse before they open??!!!).

good trading

jon

 

[Sledgehammer]

bonsai

thanks for your commentary

it may have been a suckers rally, but nevertheless it was a rally. i'm dreadful at going long; i much prefer to short. but for the first time for some considerable time i actually made a bit on an up leg. so i'm dead pleased with myself, even if i'm a sucker!

i missed out on the leg down this morning, but got the one from 14.30.

 

[jonnyy40]

Where does one get information on advancers/decliners? Can it be obtained already in chart form?

 

[bonsai]

sledge -well done

its not the best of descriptive titles , I know, but
its one that's in general use.

quite tradeable in its own right if you had very short indicators.
but I'm not at all sure that everybody does.

Jonnyy
haven't come across it on the web. But it may be worth hunting
around. Failing that , just switch on the T.V.

 

[Sledgehammer]

for your information

24 July 2003 07:34:23
Exchange [Liffe] : Exchange message. , FTSE 100 OPENING CALL IS SET AT 4080.0 THE OUTER LIMITS ARE SET AT 50 TICKS.

 

[bonsai]

morning all
just received 3 copies of traders mag in the mail
seems they think you cant get too much of a good thing !

so I have 2 spare copies.
if anyone wants one let me know. PM your details.

 

[bonsai]

Ghost Dog
I am on advfn but its a different kind of site.
It offers a whole range of facilities which means the site
attracts a different clientele and not only ladies and gentlemen.
Moneyam is just a copycat site made up largely of ex advfn people
who had difficulty in controlling their language. (sometimes quite
justifiably). Whether it will survive is arguable.
Whereas this site (so far) will normally only attract people who
already have the facilities they need and also prefer a somewhat
less frenetic environment.

wadythink ?

 

[reactor]

nice bounce off support at 8:50. were there any takers?

 

[bonsai]

one here
but not until 9.10

lol

 

[barjon]

mornin' all

I reckon DOW close last night just broke it out of a symmetrical triangle to the upside (on closing prices). Needs confirmation tho'. I've had a nibble at ftse Sep longs? And will add if we get a good volume hold above 90 today? But don't let me influence you!!!

good trading

jon

 

[bonsai]

Commentary ?
I reckon yesterdays gap up was 3rd leg
immediately followed by A down to about 86 and
the subsequent rally which always looked corrective was B leg
to take out some stops followed by the nasty C leg which
had 5 small legs to it. So that was the end of 4th.
so we should now be in 5th and making new highs sometime.
maybe before dow opens ?

 

[reactor]

its looking like a good time to exit now.

 

[oatman]

Nasty down spike at 09.58 to 4090 on futures accompanied by volume of 868 on the min. bar. Bar closed 4110.5.

Good luck