FTSE - total utter annihilation

[wallstreet1928]

cash is king ..................

I'm staying away for a few days........this market has no fundamentals anymore!!

I'm just going to be trading Oil and Gold for now.......

good luck people with all your trades, my advice is to keep your trades small and get in & out quickly as its going to be a very volatile journey!!

 

[Splitlink]

The index has been lower, although I don't blame you for taking a holiday. I have been short, generally, since June, with very few long trades done. No holidays for me until Christmas.

To go back to your post. The bottom on Oct 27 has to be taken out, yet.

 

[nine]

I presume that means your ahead of the wife split?

 

[Splitlink]

I presume that means your ahead of the wife split?

Impossible! she spends too much time in the shops!

 

[jeffsmith]

cash is king ..................

I'm staying away for a few days........this market has no fundamentals anymore!!

I'm just going to be trading Oil and Gold for now.......

good luck people with all your trades, my advice is to keep your trades small and get in & out quickly as its going to be a very volatile journey!!

Sadly Oil and gold isnt very upbeat either.

 

[foredog]

cash is king ..................

I'm staying away for a few days........this market has no fundamentals anymore!!

I'm just going to be trading Oil and Gold for now.......

good luck people with all your trades, my advice is to keep your trades small and get in & out quickly as its going to be a very volatile journey!!

Fundamentals have been irrelevant for years.

How many stocks in the last 10 years have traded on a PE of 100's

and now we just have the reversal.

The markets always overdo things, when a 50 point move is justified it'll normally move 100, then correct back 75.

 

[Hoggums]

When people start saying get out and stay out - that's usually the time to buy....

 

[foredog]

Take 6 months ago , if that, Oil price all over the news, every second prat on telly saying it's going to $250, now they just need to erase the zero!

How do you trade it though, keep buying/selling when the market pulls back from high/low with a small stop and maybe your 10th trade will work but will return 25 x risk?

 

[Splitlink]

Sadly Oil and gold isnt very upbeat either.

What has been good has been the US$ I keep my cash in a currency fund but I don't do forex trading. Maybe I should.

 

[wallstreet1928]

yes very true, market hasn't been trading on fundamentals for a long time.......

what i meant to say is that I honestly don't have any idea where the market is heading from here, so I prefer not to trade. I am always honest in my analysis and will always tell people how I feel, if i am wrong then it's my fault and will always accept that.

I have been quiet consistent as of late with my trades almost 100% and i don't want to jeopardize that......... because from history that's when I start to panic and trade irrationally and start losing money!!

good luck to you all my friends, and I thank the pople who set up this website as its a great resource in my day to day trading

 

[wallstreet1928]

i have been shorting oil & gold last 2 days and have done tremendously well, especially oil from $60 - $55......

I will be a heavy buyer of oil at $50 ....anyway we should be talking about the FTSE?

FTSE seems to be bouncing from 4100 each time.....my chart is showing a fall further to 3800 support, but I don't know and therefor would not like to trend as there is a possibility of a mini bounce from here as well?

I will trade when I am more confident with my analysis?

any other theories welcome?

please can somebody carry on with this thread, "declare your positions for the follwoing day" as i believe it does help a lot of people?

I would also like to hear other people forecasts, but not many people are confident enough to provide, maybe they are worried about there credibility!! but i don't know? so what if you are wrong with a 50 point stop loss.....?? big deal.......

 

[Hoggums]

Just about every other market is heading for 2003 lows

Where was oil in 2003 - $20...

We seem to be stuck in no-mans land on the indices at the moment - I favour the FTSE falling below 3900 again, the buyers are not coming out in force and every rally fails pretty quickly.

As I type the Dow has just broken through resistance (5:15pm) so I'll look at the charts and probably short the index (again)....

 

[fibonelli]

Bear Markets wipe out the bulls and the bears if they get too greedy.

My own best guess is (indices only):

1. Test and fall below 2002-03 lows thereby trapping the bears who would be shorting the hole.

2. Pre Christmas/New Year Relief rally into early spring thereby trapping the bears initially. The bulls will be trapped (see below) and the bears will lose money if they re-short too early.

3. Fall into the abyss aka the "despair phase". Perhaps to 1990-93 price levels?

If you are familiar with Elliot Wave Analysis, some say were in Wave 5 of A (B up C down).

 

[tolland]

Just about every other market is heading for 2003 lows

Where was oil in 2003 - $20...

We seem to be stuck in no-mans land on the indices at the moment - I favour the FTSE falling below 3900 again, the buyers are not coming out in force and every rally fails pretty quickly.

really, once the monetary policy wiggle room has been used, we should be looking for new lows (<3500), the fiscal stuff will take a while to work into the system (tax cuts - maybe in a year), and GBP is looking so precarious that UK denominated assets have to be valued incorporating the risk of both further equity and currency downtrends.

(I've not read the whole thread)

The time to buy is when the newspapers start talking about the Blitz spirit of the British nation - somewhere between desperation and hope in the cycle of emotions;


Cheers,

T

 

[tolland]

please can somebody carry on with this thread, "declare your positions for the follwoing day" as i believe it does help a lot of people?

"Follow the market trend" - someone clever said that, so I've just been looking at shorting opportunities. So far shorting all the companies that look like they are going to get "reviewed" out of their indexes has been profitable. From this article;
I have a short interest in CLCA, LAS and WNER, and they are all making good downward progress...

I was looking at an entry point for FRES;
FRES - Fresnillo Plc - Google Finance but I feel that this one has to bounce off something soon, so I held fire a week ago :-(

T

 

[wallstreet1928]

Looks like that bounce & volatility that I was suspicious about did occur and boy what a bounce it was. I just sat back and watched it roar?

I'm glad I sat back as an ill disciplined trader especially those with no stop losses would have got burnt, and I believe many did. I closed my gold and oil positions and I have bought heavily into barclays.......

anyway ........

i will be back fresh for Monday trying to predict where it will go on monday, its good fun people.......

If i am wrong the mistakes are mine...

Adios amigos

 

[rathcoole_exile]

i have been shorting oil & gold last 2 days and have done tremendously well, especially oil from $60 - $55......

I will be a heavy buyer of oil at $50 .....

buy from me, i've a resting sell stop order in to go short at 50.41

(and will have a buy stop to go long at 54 once it's dropped below 53.99)

 

[tolland]

really, once the monetary policy wiggle room has been used, we should be looking for new lows (<3500), the fiscal stuff will take a while to work into the system (tax cuts - maybe in a year), and GBP is looking so precarious that UK denominated assets have to be valued incorporating the risk of both further equity and currency downtrends.

<3500 on the ftse next week maybe? I think I will go long then...

 

[TomTom]

Love this site as every other traders has a differnet view.
Here is my bit.
Been long since 20/11/08
Got foostie ok and confedent with it long ......
As for dow got hammered with a massive decline lastnight, kept the postion long currently edgeing back losses on dow with the profits on footsie now making the overall trade relising a avarage loss.

When it comes to close this, footsie over 4000 dow over 8050 it will be happy days.

Time scale for this in midweek 23/11/08

 

[tomorton]

Where's the objective reasoning for entering a poition on the FTSE100 based on its mathematical value? I am hearing people saying the bottom will be 3800, 3600, 3500 and so on. This is usually without supportive TA. I find this just daydreaming, like speculating what you would do with a lottery win - harmless, but also fruitless, and no aid to anyone else.