Just missed the putting on the short FTSE at around 4189, was getting a coffee. How I hate it when that happens, now I will have to wait getting bored to see if the signals are there again. There could have been a quick 10 points in it, bugger. Im not a great fan of leaving orders. There defintely appears to be pull back when it reaches the top of the channel.
Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
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wallstreet1928
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This should sum it up
"After yesterday's sharp sell-off in the currency market, it is natural to see a recovery in risk appetite. The relief rally is led by the British pound which has soared following the Bank of England's decision to leave their Quantitative Easing program unchanged.
Safe haven flows into the U.S. dollar has eased even further following the jobless claims report. For the first time since January, weekly jobless claims fell below 600k. This is a very important level because in order for job growth to return, claims need to revert back to the levels that we saw in 2007 and 2006 and in order for that to happen, weekly jobless claims need to crack below 600k.
However the better than expected weekly jobless claims report was tempered by the rise in continuing claims to the highest level on record. If not for the sharp increase in continuing claims, we would have seen a sharper rally in the EUR/USD and USD/JPY. In the week ending July 4th, 565k Americans filed for jobless benefits, leaving the four week moving average of initial claims at 606k compared to 616k the previous week. Continuing claims for the week ending June 27 increased to 6.88 million.
Although we are very encouraged by the weekly claims report, one solitary week does not make a trend. Jobless claims needs to print below 600k for at least 3 weeks before the U.S. economy has any chance of returning to positive job growth. Also, the long weekend and seasonal auto-plant closings may have also contributed to the dramatic improvement. Therefore we only except the claims data to have a limited impact on the dollar."
"After yesterday's sharp sell-off in the currency market, it is natural to see a recovery in risk appetite. The relief rally is led by the British pound which has soared following the Bank of England's decision to leave their Quantitative Easing program unchanged.
Safe haven flows into the U.S. dollar has eased even further following the jobless claims report. For the first time since January, weekly jobless claims fell below 600k. This is a very important level because in order for job growth to return, claims need to revert back to the levels that we saw in 2007 and 2006 and in order for that to happen, weekly jobless claims need to crack below 600k.
However the better than expected weekly jobless claims report was tempered by the rise in continuing claims to the highest level on record. If not for the sharp increase in continuing claims, we would have seen a sharper rally in the EUR/USD and USD/JPY. In the week ending July 4th, 565k Americans filed for jobless benefits, leaving the four week moving average of initial claims at 606k compared to 616k the previous week. Continuing claims for the week ending June 27 increased to 6.88 million.
Although we are very encouraged by the weekly claims report, one solitary week does not make a trend. Jobless claims needs to print below 600k for at least 3 weeks before the U.S. economy has any chance of returning to positive job growth. Also, the long weekend and seasonal auto-plant closings may have also contributed to the dramatic improvement. Therefore we only except the claims data to have a limited impact on the dollar."
kaisen
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Hey ws - wish we had put a long on GS late yesterday and left it open! Look at the spike today!
And JPG!
That was a very expensive cup of coffee!!!!!!!!!!!!!!!!
What did I miss that caused that sell off! can someone enlighten me, please.
fraggermcg
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Nothing more than the US opening weaker. Up until 2.30pm UK time you've only got US futures trading, then the big boys come in at 2.30 and make up their own mind about how things should be trading. Have a look at SPX and you'll see what I mean - it's just finished gap fading the open now.
fraggermcg
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And the US$ is strengthening: dollar up = commodities down = market down as WS likes to say!
kaisen
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I hope so my friend, i have gone short on Fresnillo since this morning when then went up over 9%!
Hopefully oil, gold and commodities will go down to play Newcastle!
This see saw is getting to me, what does the crystal ball say WS?
fraggermcg
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I'm short FTSE from 4175 but 4160 is proving a tough nut to crack (it ties in approx with 880 SPX which I have as a big support level).
What are the views on the way the DAX is holding up. Is it ripe for a fall, to catch up the other markets. i know there are no Oils in the index but surely it cant defy what is happening elsewhere? Or will do it what is has in the past catch up suddenly when the market closes and it is trading on futures? On the normal trends the FTSE also looks too high vs the DOW!
wallstreet1928
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amend to break even
wallstreet1928
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I am short FTSE 4160 ...stop loss 4190
target 4140
target 4140
SuddenDeath
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did ftse100 fill the morning gap ?
kaisen
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Go oil and take those shiny metals with you!!!
SabreTT
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I hope so my friend, i have gone short on Fresnillo since this morning when then went up over 9%!
Hopefully oil, gold and commodities will go down to play Newcastle!
This see saw is getting to me, what does the crystal ball say WS?
Your shorting after they fell 30% in the last month, why so sceptical
Our currency was devalued so stocks outpeform comparatively
dr.blix
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well i've just got back and i see my 168 short got stopped out at 13.30 for a 13 pt loss.
now it's on its way down to my 147 target...i know i should use stops larger that 12 pts, but i hate it when i put a huge stop on and still get stopped out by 0.5 of a pt and have to then try and make 30 pts back up.
now it's on its way down to my 147 target...i know i should use stops larger that 12 pts, but i hate it when i put a huge stop on and still get stopped out by 0.5 of a pt and have to then try and make 30 pts back up.
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