The FTSE

[dc2000]

Sit on the sidelines
No use stepping in front of a train when you can wait for it to get to the station

 

[apples10]

Any views today? Thinking about going short around 5470 with a tight stop a couple of points higher than the days high. That or sit on the sidelines.

If not sure don't trade.

Very risky trading ahead of the US figures at 1:30 and 2:15.

Dow Futures is predicting an open of +34 points, it could easily motor from there (especially if the figs suit).

I'd wait and see - but hey, I'm not posting this from a beach

 

[Slim Sladey]

Have just my closed my long up 80 points before the US kicks off

Will consider a small short later depending on how the US opens and the UK's reactions to it.

Anyone else thinking short, or is market now showing some stength to push on?

 

[Racer]

I haven't shorted many UK shares for months now, it is being driven up by rumours and take overs.
Companies come out with poor earnings, poor outlook, but the price goes up because... 'they could be takeover target'!

Oh so take them over spend lots of money on them... but what then? Is the outlook for the company going to change?

 

[downbytheriver7]

Have just my closed my long up 80 points before the US kicks off

Will consider a small short later depending on how the US opens and the UK's reactions to it.

Anyone else thinking short, or is market now showing some strength to push on?

I took the wise words earlier and waited - I managed to short into the pop at 5480 and have reduced my stake when we dropped to 5463. Still holding a small short position as the US looks slightly nervous this am. Still could go either way.

 

[Slim Sladey]

I don't trade on shares just the indices at the moment, but i see what you mean. I've noticed this (average results and takeover speculation) in the media too and that prices keeping on going higher.

Only real explanation i've heard is that there is liquidity in the market and the money has to go somewhere so is choosing equities. I'd prefer it choose my current account

As a follow on from this my gut feel is that this has to stop at some point. I'm still learning about head and shoulders, breakouts etc - could anyone point me in the direction of a thread on the diferrent patterns, particulalry one(s?) that might signal when an overbought position could be ready to sell off.

Slim

 

[downbytheriver7]

Wow..glad i covered my short before the close, the US markets seem to be on fire with the NASDAQ leading the charge...tommorrow should be interesting.

 

[dc2000]

Im looking to jump off my long in the morning 92 would be nice

 

[ukhero]

The FTSE Friday, 18th November 2005

Thursday’s results:

Open: 5430.

Close: 5460, up 30pts. Better late then never. If the FTSE doesn't have at least one stab at the 5500 tomorrow I'm having bread and jam come Sunday lunch!

Range: 5330 - 5480. A swing of 50pts.

On the Month: up 113pts. Still a little behind.

Last 5 trading days: up a poor 7pts.

Dow: 10,720, up a solid 45pts to push beyond the 700 mark.

News items of note:

None at time of writing.

Charts, and nothing but the charts: Thursdays stated evens. Friday, no clear indication but errs on a 9pt drop. It has to be said, after two hours of study I close my eyes and see Bollinger bands, MACD and Parabolic SAR dancing hand in hand around the room.

Companies reporting:

THUS
WORKSPACE

Too little to have an impact by themselves, but I'm expecting additional momentum from companies who've already reported this week.

The FTSE tomorrow based on present news and data: The DOW’s had a see-saw day finishing with an element of gusto, this should provide a positive opening for the UK markets; chart results are debatable; should be another day of high volume; no major news is good news.

Early gut feeling: a 80% chance of a rise.

Will I bet? I’m going 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

 

[dc2000]

Out of long now I will short if we hit 32 in next hour if not day off

 

[Racer]

expiry between 10:10 and 10:30 today

 

[dc2000]

Im in 530 with 20 point stop

 

[downbytheriver7]

me too

Im in 530 with 20 point stop

Although my crystal ball let me down and I got in around 5522...going to keep my stop as the day's high. Quite something this move when you consider the recent 2 day action.

 

[dc2000]

I will move stop to breakeven when we get around the 511 mark.
The move is a little higher than expected which makes me wonder about a potential large move on the Dow

 

[mark twain uk]

I too am considering a large move on the dow that would pull the ftse above our opening shorts, so maybe I'll move the stop anyway

 

[dc2000]

You assume the move will be up then

 

[Quercus]

and as we all know - assumption is the mother of all **** ups!
Q

 

[Quercus]

There isn't any economic data due out on the US market today, AND it's a Friday, so maybe things will be a bit "thin" over the pond?
Q

 

[downbytheriver7]

Well closed my short into that drop and will wait to see now what effect the US markets have. Gut feeling is a close under or near 5500.

 

[dc2000]

FTSE short closed