FTSE100- June

[bracke]

barjon

Thank you for your reply. This appears one of those academic discussions,does it gap or dosen't it gap.
Whatever it's called it's a non progressive change in price which for the sake of argument we will call a gap A rose (or gap) by any other name would smell as sweet.

What exactly is this opening and closing auction that I have seen mentioned?


iainpw

Less of your cheek! Indeed I was out of bed ( just ) to close my short at 4457 for +52 points. I think I shall now go back to bed to celebrate. Don't you just love those gaps.

Regards

bracke

 

[peterpr]

bracke

Depends which data provider you use.

Have had this argument with Sharescope who, until early May, operated to guidelines and did not recognise any opening gap but have now changed their feed and do recognise gaps. They haven't backdated the history files yet so the index charts look a bit of a mess! You can see the change on the attached chart.

jon

I use Sharescope at present too, and yes, the historical data is not much use if you want to number crunch, or chart the effects of the opening auction. Sharescope tell me that they will be updating historical data to at least the last 12-24 months but won't give a precise time-frame. Their present opening price is logged as the first tick after opening. Apparently the change is to bring their data into line with the FT itself. The exchange guidlines remain unchanged (ie yesterday's close is today's open).

Barjon - I need to watch some LIFFE futures prices real-time (particularly the ftse100). Sharescope tell me its a medium-term consideration for them - 'probably will but 6-12 months away' . Any suggestions about a viable alternative?

Peterpr

 

[Hooya]

morning all....just popping in. Hope you had a good weekend. I am scaling in a long between 45 and 35.
With best entry at 42 at the mo.

 

[dc2000]

Hi Peeps just my thoughts on the FTSE

The sequence from here looking like 4470, 4418, 4450 and 4485

 

[Hooya]

well I guess 4470 been hit on the way down.

 

[dc2000]

Hi Hooya
No thats from 4442 going up to 4470

 

[Hooya]

that sounds good to me.btw I saw your posts on the otherside. Dont forget Im still here if you want to bounce ideas off me

 

[dc2000]

Yup you may have noticed it has been removed and I got wrist slapped of Admin

 

[Hooya]

doesn't surprise me ...he's quite strict

 

[john joachim]

June ftse 100

doesn't surprise me ...he's quite strict

HOOYA Are you the person who bought 4200 contracts (FOOTSIE FUTURES) at around time 11.47
Joe

 

[Hooya]

LOL no bought FTSE rolling cash at a few £pp at 42 though

 

[john joachim]

LOL no bought FTSE rolling cash at a few £pp at 42 though

You are on the right side then, people dont buy so many contracts if they dont know more than what we know. I am on long too with a stop loss

JOE

 

[Hooya]

35 is key if we drop below that other than a spike then we might have to look at a retracement to the low 20s but think that is for another day.

 

[iainpw]

I'm also long.......but not too confident at the moment as there doesn't seem to be any conviction to get the prices higher. Maybe we might get a slow run up from here until the US opens.

Iain

 

[john joachim]

35 is key if we drop below that other than a spike then we might have to look at a retracement to the low 20s but think that is for another day.

Hi Hooya Futures 37 I will be out

 

[barjon]

bracke - there's an auction period (5mins) before official opening when the big boys can match buy and sell orders and the final price is the last deal (uncrossing price) - hence gap opening of individual shares. At the end of the day there's a similar auction period (10mins) and the final price is again the last uncrossing price - hence the differences in individual share prices from the official close to the "final" close.

peterpr - can't help with the futures feed I'm afraid

 

[bracke]

barjon

Thank you for your explanation.

What is the logic in allowing the big boys the auction period? It would appear to be allowing them to manipulate the market and to take advantage of it by trading accordingly.

Regards

bracke

 

[barjon]

your guess as good as mine!! All the LSE say is that "it improves liquidity" whatever that means. Usually seems to involve huge blocks of shares, perhaps an expert on the workings of the market can help us!!

 

[barjon]

from the volume bulls seem to have made a bit of an effort to reverse things at 9.30 then between 10.00 and 11.00 but to no avail. Volume dropped off markedly since then so selling pressure seems to have eased but the twice bitten bulls nursing their wounds? Or maybe everyone waiting for US?

 

[KJH]

35 is key if we drop below that other than a spike then we might have to look at a retracement to the low 20s but think that is for another day.

Hi Hooya,
I can see where you get the, ' low 20's...' from ( I think ! ) but I'm missing something on the "35 is the key..."
Would you mind elaborating ?
Thanks,
KJH