The FTSE, Wednesday 3rd May 2006
Tuesday's results:
Close: 6082, up 59pts [0.99%].
Range: 6090 - 6022.
Last 5 TD: down 0.25%.
OTM: up 0.99%.
Tuesday's DOW:
11416, up 73pts [0.64%].
Last 5 TD: up 1.18%.
OTM: 0.44%
Tuesday's S&P 500
1313.21 up 8.02pts [0.61%].
Last 5 TD: up 0.88%.
OTM: 0.20%.
The FTSE and the SP continue to shuffle in and out of a neutral position, whereas the DOW has moved from neutral to high. Even so, all three markets have plenty of scope to climb higher. The FTSE starts the week weaker of the three and as such should provide greater gain if it turns into a bull market.
News items of note:
NEW YORK - Oil prices rose above $74 a barrel Tuesday amid fear that international pressure on Iran to modify its nuclear program may lead to supply cuts from the key exporter.
An Iran official earlier in the day reiterated the country's intention to keep enriching uranium, while U.S. Undersecretary of State Nicholas Burns said he believed European governments will agree to sanctions against Iran.
Analysts expect energy futures to remain high, as traders keep one eye on issues abroad — Iran's nuclear program, rebels in Nigeria cutting off oil supplies, and the possibility of terrorist attacks on oil facilities — and another eye on problems on the home front, notably tight U.S. gasoline supplies going into the summer driving season.' - Blah! Blah! Blah! Old news re-wrapped and tied up with a dull looking bow. Nothings changed. Oil is being adversely pushed higher by the oily bears.
Timesonline - 'Mortgage lending in March hit its highest level for almost two years and a peak never seen for that month, the British Bankers Association (BBA) said today.
A total of 85,698 home loans were approved for house purchase, the highest number since June 2004 and nearly double December’s total.' Good news indeed for the FTSE.
Charts, and nothing but the charts: Tuesday's had no clear indication. Wednesday's have no clear indication but edge towards a rise.
The PoM System: +1.50, interpretation: favours a 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:
Alliance & Leicester
BG
British American Tobacco
British Sky Broadcasting
Easyjet
Enterprise
Rolls-Royce [expecting above par results]
Economic Data:
None UK
Areas to watch: Oil.
The FTSE tomorrow based on present news and data: a decent rise today with a possibility of another tomorrow; the American markets have bounced back after yesterdays last hour drop, but with important Economic data ahead we may see a laconic day tomorrow until it's released; charts are unclear but edge towards a rise, likewise with the PoM; companies reporting are mixed but positive and no ED for the UK.
Early gut feeling: a rise.
Will I bet? Even with the FTSE's above average healthy rise today I still believe it has more steam left to propel itself further forward tomorrow, or at the very least be above todays position by EOT Friday. On the downside, if the FTSE dips, I see a 17pt drop. Still favour the Long.
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
Tuesday's results:
Close: 6082, up 59pts [0.99%].
Range: 6090 - 6022.
Last 5 TD: down 0.25%.
OTM: up 0.99%.
Tuesday's DOW:
11416, up 73pts [0.64%].
Last 5 TD: up 1.18%.
OTM: 0.44%
Tuesday's S&P 500
1313.21 up 8.02pts [0.61%].
Last 5 TD: up 0.88%.
OTM: 0.20%.
The FTSE and the SP continue to shuffle in and out of a neutral position, whereas the DOW has moved from neutral to high. Even so, all three markets have plenty of scope to climb higher. The FTSE starts the week weaker of the three and as such should provide greater gain if it turns into a bull market.
News items of note:
NEW YORK - Oil prices rose above $74 a barrel Tuesday amid fear that international pressure on Iran to modify its nuclear program may lead to supply cuts from the key exporter.
An Iran official earlier in the day reiterated the country's intention to keep enriching uranium, while U.S. Undersecretary of State Nicholas Burns said he believed European governments will agree to sanctions against Iran.
Analysts expect energy futures to remain high, as traders keep one eye on issues abroad — Iran's nuclear program, rebels in Nigeria cutting off oil supplies, and the possibility of terrorist attacks on oil facilities — and another eye on problems on the home front, notably tight U.S. gasoline supplies going into the summer driving season.' - Blah! Blah! Blah! Old news re-wrapped and tied up with a dull looking bow. Nothings changed. Oil is being adversely pushed higher by the oily bears.
Timesonline - 'Mortgage lending in March hit its highest level for almost two years and a peak never seen for that month, the British Bankers Association (BBA) said today.
A total of 85,698 home loans were approved for house purchase, the highest number since June 2004 and nearly double December’s total.' Good news indeed for the FTSE.
Charts, and nothing but the charts: Tuesday's had no clear indication. Wednesday's have no clear indication but edge towards a rise.
The PoM System: +1.50, interpretation: favours a 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:
Alliance & Leicester
BG
British American Tobacco
British Sky Broadcasting
Easyjet
Enterprise
Rolls-Royce [expecting above par results]
Economic Data:
None UK
Areas to watch: Oil.
The FTSE tomorrow based on present news and data: a decent rise today with a possibility of another tomorrow; the American markets have bounced back after yesterdays last hour drop, but with important Economic data ahead we may see a laconic day tomorrow until it's released; charts are unclear but edge towards a rise, likewise with the PoM; companies reporting are mixed but positive and no ED for the UK.
Early gut feeling: a rise.
Will I bet? Even with the FTSE's above average healthy rise today I still believe it has more steam left to propel itself further forward tomorrow, or at the very least be above todays position by EOT Friday. On the downside, if the FTSE dips, I see a 17pt drop. Still favour the Long.
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
downbytheriver7
Well-known member
- Messages
- 280
- Likes
- 1
ouch today, just gone long the FTSE @ 6020 but my NDX long is not looking very healthy :-(
I should of taken the advice about the FTSE being fickle... Saw the drop but missed read a reversal (Long @6029 ) and now my fingers are getting a tad toasty..... Back to the demo for me I guess.
Btw My first post, and would like to say hi and thanks to everyone on-site.
Robin
Btw My first post, and would like to say hi and thanks to everyone on-site.
Robin
downbytheriver7
Well-known member
- Messages
- 280
- Likes
- 1
Umm big reversal day - high of 6098 closing at low of day around 6010 - oh dear....will hold my long with a stop @ 6000. But its not looking great. Not worth shorting from here I dont think either.
downbytheriver7
Well-known member
- Messages
- 280
- Likes
- 1
Interestingly though the NDX is showing more strength over the FTSE, DOW and SPX. Gold looks to be backing off from its new high of 677. Would not be surprised to see the NDX end green today! Either we a marking an interim low/bottom before a move up or things really have turned down. My bets are on a late day rally. Why not eh!?
Agree about the ending up. Just hope CapSpreads doesn't glitch again and trigger my stop at the switch over to a 6-point spread.
Is there members on here who group trade .. I mean over msn (Offering advice, ideas .. jokes etc) ? If so, do you need another member.
Is there members on here who group trade .. I mean over msn (Offering advice, ideas .. jokes etc) ? If so, do you need another member.
NDX has declined more sharply (down 2.4% at 17.00) compared to the Dow (down 0.75%), SPX down (0.50%) and the FTSE (down 1.9%) from last Thursdays highs. NDX has subsequently held up a little better so far today than it's other US counterparts.downbytheriver7 said:
downbytheriver7
Well-known member
- Messages
- 280
- Likes
- 1
kriesau said:
Yeap - just to clarify I meant the NDX looked stronger today - my bigger chips are on the NDX at the moment with dare I say a short on Gold and a long on the FTSE. A big move coming I feel.
Note that you're now long on the NDX. What was your entry point ?downbytheriver7 said:
I was short at 1740 on a June future a couple of weeks back. I subsequently moved my stop down to my entry level as the market declined and then got stopped out in last Thursdays big rally !
C'est la vie:
downbytheriver7
Well-known member
- Messages
- 280
- Likes
- 1
Entry on the NDX @ 1695 (just before the Bernanke and CNBC fun & games). Spread isn't great so not worth trading in and out to scalp points - so I am holding.
downbytheriver7
Well-known member
- Messages
- 280
- Likes
- 1
Well not quite green on the NDX but there was some buying off the lows towards the end of the day and also the FTSE long is iooking good afterhours. Looking forr a upward move into the w/e.
riak said:
Welcome Riak,
and welcome to the wonderful world of burnt fingers!
Don't worry it happens from time to time. Even the best of the best can get it wrong.
Do your homework and test it via a demo. When confident try again.
We learn more from a single days loss then the total knowledge of a thousand gains.
UK
The FTSE, Thursday 4th May 2006
Wednesday's results:
Close: 6010, down 72pts [1.19%]. Biggest one day drop of the year.
Range: 6100 - 6010.
Last 5 TD: down 1.24%.
OTM: down -0.19%.
Four separate warning signals here which say that the FTSE has fallen far too quickly over the 9 day average period.
Wednesday's DOW:
11400, down 16pts [0.14%].
Last 5 TD: up 0.41%.
OTM: 0.29%
Wednesday's S&P 500
1307.85 down 5.36pts [0.41%].
Last 5 TD: up 0.19%.
OTM: -0.21%.
News items of note:
None at time of writing.
Charts, and nothing but the charts: Wednesday's had no clear indication but edged towards a rise. Thursday's show a progressive downward trend, which, even in the last 10 minutes of trading, fail to show any correction to this trend.
The PoM System: +5.50, interpretation: favours a 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:
BAE Systems
British Airways
Partygaming
Reckitt Benckiser
Rentokil Initial
Rexam
Royal Dutch Shell
Standard Chartered
Unilever
Economic Data:
09:30 UK Consumer credit Mar
09:30 UK Consumer mortgages Mar
12:00 UK BOE rate announcement
13:30 US Jobless claims Wk 29
13:30 US Nonfarm productivity
Areas to watch: Oil, miners and Banks.
The FTSE tomorrow based on present news and data: it was the biggest one day drop of the year today which dragged the FTSE well into the realms of negative territory over the nine day period. This has'nt been seen since 24th Jan, to which, the market rose 70pts the day after. But its not the same: Oil and miners have a greater play on the market at the moment and are therefore distoring charts and data, add to this the uncertainty of economic news. Charts tomorrow are uncertain, but the PoM predicts a strong likelyhood of a rise; companies reporting should be positive on the whole but the economic results are the ones to watch.
Early gut feeling: a rise on data alone.
Will I bet? Worth a Long.
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: 6010, down 72pts [1.19%]. Biggest one day drop of the year.
Range: 6100 - 6010.
Last 5 TD: down 1.24%.
OTM: down -0.19%.
Four separate warning signals here which say that the FTSE has fallen far too quickly over the 9 day average period.
Wednesday's DOW:
11400, down 16pts [0.14%].
Last 5 TD: up 0.41%.
OTM: 0.29%
Wednesday's S&P 500
1307.85 down 5.36pts [0.41%].
Last 5 TD: up 0.19%.
OTM: -0.21%.
News items of note:
None at time of writing.
Charts, and nothing but the charts: Wednesday's had no clear indication but edged towards a rise. Thursday's show a progressive downward trend, which, even in the last 10 minutes of trading, fail to show any correction to this trend.
The PoM System: +5.50, interpretation: favours a 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:
BAE Systems
British Airways
Partygaming
Reckitt Benckiser
Rentokil Initial
Rexam
Royal Dutch Shell
Standard Chartered
Unilever
Economic Data:
09:30 UK Consumer credit Mar
09:30 UK Consumer mortgages Mar
12:00 UK BOE rate announcement
13:30 US Jobless claims Wk 29
13:30 US Nonfarm productivity
Areas to watch: Oil, miners and Banks.
The FTSE tomorrow based on present news and data: it was the biggest one day drop of the year today which dragged the FTSE well into the realms of negative territory over the nine day period. This has'nt been seen since 24th Jan, to which, the market rose 70pts the day after. But its not the same: Oil and miners have a greater play on the market at the moment and are therefore distoring charts and data, add to this the uncertainty of economic news. Charts tomorrow are uncertain, but the PoM predicts a strong likelyhood of a rise; companies reporting should be positive on the whole but the economic results are the ones to watch.
Early gut feeling: a rise on data alone.
Will I bet? Worth a Long.
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
downbytheriver7
Well-known member
- Messages
- 280
- Likes
- 1
Just got in and missed the dip to 6000 - good job I moved my stop last night! Still long and would have bought more. Gold slightly down today, NDX futures are up, DOW pushing a high, I favour a rise on the FTSE and remaining long @ 6020. Can it all change again and close another week negative? Or is it a rally into the w/e? Looking for outperformance in biotech/tech over metals/oil.
downbytheriver7
Well-known member
- Messages
- 280
- Likes
- 1
NDX rollin - FTSE should catch a bid or two - why GOLD is up as well though?
downbytheriver7
Well-known member
- Messages
- 280
- Likes
- 1
Out my NDX @ 1705 looking to reenter @ 1700 holding the FTSE long looking for 6045 to give way to 6080
