Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders

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Oil indeed still weak but I think a breakout in either direction will be significant short-term...lows holding in high 59s and descending highs...
 
P.S. Ponting isn't such a relic after all! Despite the Ozzies I can't help feel a bit warm inside when the English cricket team puff themselves up and then, shock, horror, things are a bit harder than expected!
 
tiny, tiny possibility of a FTSE 2 bar key reversal, i'll have to wait and see where the next 15min TF bar opens.

very risky though in this huge down t.
 
h_a said:
im thinking should i take my 15 points profit or wait
Click to expand...

My view for what its worth. I presume you've moved your stop to BE. I would hang on personally, but it all depends on your personal strategy. If there is a break down on the S&P > 875, we could see a big move down. we are not far away from it.
 
i dont mind hanging on what would send the s & p lower because its been stuck at that level for quite some time.
 
h_a said:
i dont mind hanging on what would send the s & p lower because its been stuck at that level for quite some time.
Click to expand...

Personally I think we are going to have to wait for the US to open. If the US Trade Balance figures are bad or the Michigan Confidence numbers are weaker than expected we may be in for a sell off, as i think sentiment is for the markets to go lower.
 
Oil continues to drop and is now at yesterdays low...I would expect a double bottom bounce but we are so close to the release of the US trade figures...Maybe oil is predicting bad numbers and is ready to break down on the news... so many maybes... wouldnt life be easier if i knew the answers...hmm seems to be breaking down...oil that is
 
Does anyone have a view on where we go from here. This really is tedious in the extreme. Or is it the calm before the storm. i really hope so!
 
i shouldn't have been trading today, as i've been flitting in and out all day (and especially not real positions), but i couldn't help it.

S ftse + 5 pts
S ftse + 5 pts
L ftse + 7 pts

hardly warren buffet, but...hey.

have a good wknd everyone :)
 
dr.blix said:
i shouldn't have been trading today, as i've been flitting in and out all day (and especially not real positions), but i couldn't help it.

S ftse + 5 pts
S ftse + 5 pts
L ftse + 7 pts

hardly warren buffet, but...hey.

have a good wknd everyone :)
Click to expand...

Nice work fella! The thing to remember is, as you always say, focus on becoming consistent and you can then increase your position size.
I believe your target is 20pnts so why so down hearted with 17?

Perhaps your frustrations are from actions you did earlier in the week?

One day at a a time and, in my opinion today has been a good day. Review why, contrast with the not so good days and move forward.

Wish you a great weekend fella!

All the best and thanks for the entertaining posts as ever!(y)
 
4 hour and 1 hour charts are all pointing down
indicators show a sell
but it just dont want to go down
trade with the trend
 
I went short the FTSE at 4155, and trailed my stop down to 4145, and was taken out for a very quick 10 points. I traded there as the market reached the top of my channel line at 4160, in fact went up to 4162, and sure enough it fell almost straight away. The RSI if you believe in that also topped out. i think the Dow was filling the opening gap to 8182, and then fell back. I will watch the S&P now to see if we can fall below 875..which i think is an important support level. The IEA coming out and predicting a fall in oil demand isnt going to help the market, and oil is now below $60 again. the bigger than expected drop in consumer confidence is also adding to market woes. Looking at the market as i type this I feel another short coming on......
 
IYT (TRANSPORTS) SHOULD HAVE A BOUNCE SHORTLY
IYT%207_10_09.bmp
 
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