FTSE100 July 2004

[mully]

If Hooya was allowed to post I think he would be highlighting the RSI reading suggesting a possible entry again. Check out RSI (14) on a 10 min FTSE100 chart.

I dont use it (KISS advocate) but just keeping people awake/interested.

 

[mully]

Hello All

Where is Bracke today? Did you get the email message Bracke (your private messgenger is off)

Soupdragon

I can assure he is alive as I have just got an e-mail from him

 

[SoupDragon]

Thats good to hear. I reckon Hooya might be looking at the higher low on the 10 minRSI but there is no divergence as there is a higher low in the price aswell. But imo a trader might have seen the trendline across the recent two peaks on the RSI (starting from the 28th )to fail to give way hence the bounce back down. So as it failed it near spot on I guess it would suggest that its and important line hence watch for it to break.

 

[splasher]

Small short on ftse closed and flat now FWIW

 

[bracke]

SoupDragon

Your e-mail received and replied to, thank you

Had to go to the hospital this morning to get my wounds attended to after the beating I got here yesterday afternoon !

oatman

I think it was you who suggested that the 0.25% rise was already in the price, it appears you were correct.


I am still holding my long from yesterday, had to go out last night so could not liquidate it. No great damage done so far but this scaremongering talk about bearishness has got me nervous.

I await the US opening with interest but as mully points out the Non farm payrolls are due and maybe the US will wait until then or maybe not.

I must take Low Risk Trades, I must Take Low Risk Trades, I must take Low Risk Trades, I Must..............

Regards

bracke

 

[leeshindig]

bracke

also recieved and replied.

regards

 

[barjon]

Conspiracy Theories

For those of a market manipulation bent you might be feeling that Monday was an orchestrated upthrust designed to trigger stops and suck in "break out" longs.

Whatever your disposition the closing levels of 518 to the topside and 433 (and/or 395) to the downside seem pretty significant.

 

[bracke]

Approaching pivot S1 level of 4448. S2 is 4431 and S3=4399.

That might chear up the shorters and depress the longs - but it shouldn't - There is no room for emotion here just analysis.

Now where's my Mogadon.

Regards

bracke

 

[bracke]

barjon

"For those of a market manipulation bent you might be feeling that Monday was an orchestrated upthrust designed to trigger stops and suck in "break out" longs."

Now you tell us ! And there was I thinking that yesterdays sell off was the manipulation.

Just a thought ( be careful bracke ) but having taken out the short stops on Monday is it now in the process of taking out the long stops.

Regards

bracke

 

[oatman]

Just a thought ( be careful bracke ) but having taken out the short stops on Monday is it now in the process of taking out the long stops

You've got it :cheesy:

 

[SoupDragon]

As it stands at the moment we have also seen something quite unusal...especially considering it is spread out over 4days.....3 equal waves...agree with the stops either side of the expiry being taken out.

 

[bracke]

Truly Dastardly
So those who remain are those with wide placed stops and newcomers to the fray.


Regards

bracke

 

[splasher]

Glad i closed my short just before it came plumetting down...................still at least you know i am honest, stupid but honest................

 

[bracke]

To those reading this thread whoare as inexperieced as I

Yesterdays events and those of to-day provide a very ueful salutory lesson.

It is easy with the benefit of hindsight to read the market but the more experienced who post and view here would have stayed clear ( see the ftse 100 june thread for yesterday afternoon ).

Although I have not been badly burned yet ( there is still time ) my trade went against the principles of good trading - opinion over fact and high risk over low risk - two cardinal sins.

I shall remember this, hope you do to.

Regards

bracke

 

[SoupDragon]

Truly Dastardly
So those who remain are those with wide placed stops and newcomers to the fray.


Regards

bracke

no the whole exercise here is to take out all the stops....or at least as many as poss...the ones who had a wide stop at 500 get fried just like the less experienced

 

[bracke]

SoupDragon

By wide stops I meant something like 4400 one way and 4550 the other.

Regards

bracke

 

[peterpr]

Now what was I saying this morning? Hmmmm -

A 40 point or so overall move up and a probable positive close? Oh - and, though bearish, my best recent trades have been longs!! Must have been whistling in the wind again. Just how wrong can you get?

And all this in response to heavilly trailed (and therefore discounted?) news from the US !

I have the ftse100 moving close to its 200 day MA and 50 points below its 50 day MA. Both major US idexes are still comfortably above both (but converging). Still very bearish I'm afraid but then what the hell do I know?

It's back to the drawing board for me (again) I think.

Still got your long open Bracke?

 

[bracke]

Peterpr

Long still open

Regards

bracke

 

[TheBramble]

By wide stops I meant something like 4400 one way and 4550 the other.

Bracke - way to go! Wish I had the wind for 150pt stops.....

 

[barjon]

barjon

"For those of a market manipulation bent you might be feeling that Monday was an orchestrated upthrust designed to trigger stops and suck in "break out" longs."

Now you tell us ! And there was I thinking that yesterdays sell off was the manipulation.

Just a thought ( be careful bracke ) but having taken out the short stops on Monday is it now in the process of taking out the long stops.

Regards

bracke

bracke/oatman

Did you notice the massive volume spike at the death (if it can be believed)? At nearly 300m when the average was under 20m and the earlier 3 significant spikes not even approaching 100m. That's a hell'va lot of short covering :cheesy: