downbytheriver7
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- 1
I have gone short across the FTSE @ 5825, DAX @ 5834 and CAC @ 5030. Charts aren't looking great for much further upside in my view.
downbytheriver7
Well-known member
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- 1
downbytheriver7 said:
Closed them all and went flat into that 'sell the open' on the US markets. Watching and waiting for now.
downbytheriver7
Well-known member
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kriesau said:
I am tempted to reshort into this bounce/pop.
Racer
Senior member
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(apologies for poor format)
ENS UK-Industry : "Govt red tape costing #50bn"
01-Mar-2006 06:50
The cost to business of major
regulations introduced over the past
few years has soared to more than
#50bn, new figures revealed today.
A so-called "burdens barometer" drawn
up by the British Chambers of Commerce
showed that the cost had risen from
#39bn last year.
The figures, compiled by the London
and Manchester Business Schools, were
taken from assessments of the effects
of Government regulations on business.
BCC director-general David Frost said:
"British businesses are fed up with
paying for Government regulation.
Businesses must be free to compete in
the global economy.
"As well as the increasing cost,
businesses regularly tell us they are
having to divert valuable time from
running their businesses to dealing
with more and more paperwork.
"While we recognise the need for
proportionate regulation, the
Government must ensure that new
regulations are well targeted and
excessive existing burdens are cut
back. Unnecessary burdens are not a
sustainable option for our firms.
"We support the Government's current
agenda to cut the cost of regulation
but as our figures show the need to get
this right has never been greater.
"Businesses have heard many promises
in the past but 2006 must be the year
of delivery. Employers need to see a
real difference in the day-to-day
operation of their business."
The report listed 69 separate Acts,
regulations, provisions or other
measures, including tax credits,
student loans, National Insurance, data
protection, working time, maternity
leave and control of noise at work.
Cabinet Office Minister Jim Murphy
said: "The BCC have added the costs of
eight years of regulation without
looking at any of the benefits
achieved. This figure would make more
sense alongside a 'Protections
Barometer' showing that a huge
proportion of it has gone on providing
essential public protections.
"The top five regulations on the list
make up 62% of the total, and include
invaluable benefits and protections
covering disability provision, use of
asbestos, data-protection and workers'
hours.
"While 90% of the regulations passed
last year had no substantial impact on
business, measures like the family tax
credits have brought benefits to six
million families and 10 million
children.
"The BCC have expressed their support
for our ambitious programme to tackle
the costs of unnecessary regulation,
and recently gave an enthusiastic
welcome to the Legislative and
Regulatory Reform Bill - currently
before Parliament - which aims to make
it quicker and easier to cut red tape.
0650 GMT Mar 01 2006
ENS UK-Industry : "Govt red tape costing #50bn"
01-Mar-2006 06:50
The cost to business of major
regulations introduced over the past
few years has soared to more than
#50bn, new figures revealed today.
A so-called "burdens barometer" drawn
up by the British Chambers of Commerce
showed that the cost had risen from
#39bn last year.
The figures, compiled by the London
and Manchester Business Schools, were
taken from assessments of the effects
of Government regulations on business.
BCC director-general David Frost said:
"British businesses are fed up with
paying for Government regulation.
Businesses must be free to compete in
the global economy.
"As well as the increasing cost,
businesses regularly tell us they are
having to divert valuable time from
running their businesses to dealing
with more and more paperwork.
"While we recognise the need for
proportionate regulation, the
Government must ensure that new
regulations are well targeted and
excessive existing burdens are cut
back. Unnecessary burdens are not a
sustainable option for our firms.
"We support the Government's current
agenda to cut the cost of regulation
but as our figures show the need to get
this right has never been greater.
"Businesses have heard many promises
in the past but 2006 must be the year
of delivery. Employers need to see a
real difference in the day-to-day
operation of their business."
The report listed 69 separate Acts,
regulations, provisions or other
measures, including tax credits,
student loans, National Insurance, data
protection, working time, maternity
leave and control of noise at work.
Cabinet Office Minister Jim Murphy
said: "The BCC have added the costs of
eight years of regulation without
looking at any of the benefits
achieved. This figure would make more
sense alongside a 'Protections
Barometer' showing that a huge
proportion of it has gone on providing
essential public protections.
"The top five regulations on the list
make up 62% of the total, and include
invaluable benefits and protections
covering disability provision, use of
asbestos, data-protection and workers'
hours.
"While 90% of the regulations passed
last year had no substantial impact on
business, measures like the family tax
credits have brought benefits to six
million families and 10 million
children.
"The BCC have expressed their support
for our ambitious programme to tackle
the costs of unnecessary regulation,
and recently gave an enthusiastic
welcome to the Legislative and
Regulatory Reform Bill - currently
before Parliament - which aims to make
it quicker and easier to cut red tape.
0650 GMT Mar 01 2006
downbytheriver7 said:
This happend to me last friday.
I was horrified! As I was Short at the time it displayed that I was close to £3000 in the red! I nearly threw up in shock!
7 minutes later it reverted back to the correct position. Panic over.
There are several questions here. If in sheer panic I cancelled the position would I have been £3000 out of pocket? or, in the reverse [as in your case] would I have been £3000 up. Interesting.
To a newbie, the querk and sheer scale of the spike may drive the less stable of mind to commit suicide!
UK
The FTSE, Thursday 2nd March 2006
Wednesday's results:
Close: 5844, up 52pts [0.91%]
Range: 5783 - 5844.
Last 5 TD: down 27.6pts
Wednesday's DOW:
11,053, up 60pts [0.55%].
Last 5 TD: down 93pts [-0.75%].
Tuesday's S&P 500
1291.24, up 10.58 [0.83%]
News items of note:
LONDON (ShareCast) - 'Powergen has followed the lead of market leader British Gas and levied hefty price rises on its 6m gas and electricity customers.
The group, which is owned by Germany's E.ON, said electricity tariffs would rise by 18.4%, while gas customers prices rise by 24.4%.
Like British Gas, the company is blaming the rise In wholesale gas costs for the biggest price rise in its history.
"We shielded our customers from the impact of these costs for as long as possible, and we continue to ensure that our prices are highly competitive," said Powergen's Nick Horler. The new prices come into force on 10 March.
British Gas, part of Centrica (LSE: CNA.L - news) , raised prices by 22% this month just ahead of results showing a £1.5bn profit overall.'
Charts, and nothing but the charts: Wednesday's were too distorted to read. Thursday, early morning dip followed by a rise.
The PoM System: +0.5, interpretation: a weak rise.
[The PoM system is a mathematical formula that determines the markets direction. A plus or minus indicates the likelihood and strength of the market going up or down.]
Companies reporting:
Intercontinental Hotels
Sage
Standard Chartered
William Hill
Economic Data:
None.
The FTSE tomorrow based on present news and data: The markets rebounded but not to there previous levels, so will we see an additional rise tomorrow based on what falls hard climbs up slow? I believe it will. Charts and the PoM system are predicting a weak rise; company results are tame; tomorrows FTSE will most likely fall in line with whatever the DOW does, which means, it will hang around early morning doing nothing but waiting for Uncle Sam to show it the way.
Early gut feeling: a weak rise by end of play.
Will I bet? Did well yesterday; I'll decide when America opens for business.
If you are betting: make your own decision, watch the markets open and do read the news for clues as to which way the FTSE may go.
Yours
UK
Wednesday's results:
Close: 5844, up 52pts [0.91%]
Range: 5783 - 5844.
Last 5 TD: down 27.6pts
Wednesday's DOW:
11,053, up 60pts [0.55%].
Last 5 TD: down 93pts [-0.75%].
Tuesday's S&P 500
1291.24, up 10.58 [0.83%]
News items of note:
LONDON (ShareCast) - 'Powergen has followed the lead of market leader British Gas and levied hefty price rises on its 6m gas and electricity customers.
The group, which is owned by Germany's E.ON, said electricity tariffs would rise by 18.4%, while gas customers prices rise by 24.4%.
Like British Gas, the company is blaming the rise In wholesale gas costs for the biggest price rise in its history.
"We shielded our customers from the impact of these costs for as long as possible, and we continue to ensure that our prices are highly competitive," said Powergen's Nick Horler. The new prices come into force on 10 March.
British Gas, part of Centrica (LSE: CNA.L - news) , raised prices by 22% this month just ahead of results showing a £1.5bn profit overall.'
Charts, and nothing but the charts: Wednesday's were too distorted to read. Thursday, early morning dip followed by a rise.
The PoM System: +0.5, interpretation: a weak rise.
[The PoM system is a mathematical formula that determines the markets direction. A plus or minus indicates the likelihood and strength of the market going up or down.]
Companies reporting:
Intercontinental Hotels
Sage
Standard Chartered
William Hill
Economic Data:
None.
The FTSE tomorrow based on present news and data: The markets rebounded but not to there previous levels, so will we see an additional rise tomorrow based on what falls hard climbs up slow? I believe it will. Charts and the PoM system are predicting a weak rise; company results are tame; tomorrows FTSE will most likely fall in line with whatever the DOW does, which means, it will hang around early morning doing nothing but waiting for Uncle Sam to show it the way.
Early gut feeling: a weak rise by end of play.
Will I bet? Did well yesterday; I'll decide when America opens for business.
If you are betting: make your own decision, watch the markets open and do read the news for clues as to which way the FTSE may go.
Yours
UK
Well we have made a lower high.
worth watching UB07 (oils) for clues IMO
UB07 chart:
http://www.tacticaltrader.com/forum/download-attachment/468/
worth watching UB07 (oils) for clues IMO
UB07 chart:
http://www.tacticaltrader.com/forum/download-attachment/468/
Slim Sladey
Junior member
- Messages
- 38
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- 0
FTSE Spikes
It's interesting that eveyone seems to get spikes - i wonder if these are at the same time/levels across all the different traders people use?
UKH - That kind of a spike would have been a BIG hit to me, hence i went for the bounce on the Dow instead. Anyone know if there are any FSA type rules the SB comps would have to abide by in these cases? - Just out of interest, im not going to be sitting waiting for a wierd spike to put the mortgage on :cheesy:
Got myself 20 points on the Dow, could have been more if i hadn't been moving my trailing stop so tight, but i think this is better than a looser stop when counter trending - maybe :?: (still learning).
And BTW UKHero, i enjoy reading your daily summaries, clear,succint and to the point - helps a part time 1st year trader, keep upto date, and also i think helps prevent me from getting lost/over analysing things from the outset.
Cheers
Good trading to all
Slim (fast) Sladey
David Wiz, DownBy The River, UKHeroukhero said:
It's interesting that eveyone seems to get spikes - i wonder if these are at the same time/levels across all the different traders people use?
UKH - That kind of a spike would have been a BIG hit to me, hence i went for the bounce on the Dow instead. Anyone know if there are any FSA type rules the SB comps would have to abide by in these cases? - Just out of interest, im not going to be sitting waiting for a wierd spike to put the mortgage on :cheesy:
Got myself 20 points on the Dow, could have been more if i hadn't been moving my trailing stop so tight, but i think this is better than a looser stop when counter trending - maybe :?: (still learning).
And BTW UKHero, i enjoy reading your daily summaries, clear,succint and to the point - helps a part time 1st year trader, keep upto date, and also i think helps prevent me from getting lost/over analysing things from the outset.
Cheers
Good trading to all
Slim (fast) Sladey
downbytheriver7
Well-known member
- Messages
- 280
- Likes
- 1
Morris said:
Umm thats a sudden drop - luckily i was short from the FTSE @ 5860 and have just closed out the position. Shame I closed my DAX/CAC shorts yesterday!
downbytheriver7
Well-known member
- Messages
- 280
- Likes
- 1
dc2000 said:
Went long @ 5806 for a quick bounce trade. Closing it soon and off for the day!
