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

[litetrader]

Thanks WS. That was very useful as always

FTSE looking good .........

I have provided a market updated with latest chart and analysis on the FSTE @ 9.00am

http://www.benzinga.com/users/wallstreet1928

I will be doing regular updates so please feel free to keep an eye on it

thank you

 

[wallstreet1928]

Hmmmmm................

GOLD @ 1092 .............

Is something brewing that we have no knowledge of?

 

[litetrader]

Look out for the UK PMI report at 9.28am in a few monutes. Expectation is 55.5% up from prev 55.3%.

 

[TZ Futures]

EUR/USD back above 1.47

oil back above $80

is this market really headed lower?

Mr Lakhan, whats happened to the bears?

what is the hedge fund industry claiming now, inside information please Mr Raj Rajaratnam.....hehee!!

just joking my friend?

Hey WS, hows it going. We are bullish at present, bearish views are put on hold for now.

Oil should head towards the $82 barrier in the coming days
Gold will also hit 1100 - possibly upto 1115-1125 before cooling down
and also expecting FTSE to be back above 5100

 

[litetrader]

I am long at 5074 on FTSE target 5084 and +10pips. But there appears to be resistant at 5080 so may close out early with smaller gain.

Look out for the UK PMI report at 9.28am in a few monutes. Expectation is 55.5% up from prev 55.3%.

 

[wallstreet1928]

I am long at 5074 on FTSE target 5084 and +10pips. But there appears to be resistant at 5080 so may close out early with smaller gain.

there is resistance @ 5078

> 5078 ....then we go to 5104

< 5078 then we go to 5069 and possibly 5062, 5041 or even 5026

 

[wallstreet1928]

FTSE Cash...

First support broken, should be heading to 4950 but not until US opens.

American markets never like others to lead the way. I would not be surprised if the market rallies initially before falling over hard again!

Mr Lakhan

that was a quick bias as you called for a big drop yesterday my friend

so what was your stop loss on your short positions ?

 

[wallstreet1928]

Gold (DEC) Trading Tip : 02 Nov 2009
Update 09:45 GMT
Current Level: 1055
Support: 1040
Resistance: 1060, 1068

We are seeing a rally today in Gold, could this be becuase investors are running to a safe haven? or is it because it was oversold last week? We shall no doubt find out in the week ahead.

Although there is resistance at 1060, I will be closing my long position at 1065-1068, and short from here as this is the more important resistance level.

Mr Lakhan

I thought you closed your long positions as per the post above on the 2nd November

and you were shorting Gold as per the post above

sorry my friend, but your posts really do confuse me

 

[litetrader]

Thanks WS. I see it now. I will hold for a while to see if it comes back up and breaks the resistance and also bring my limit down to 5080.

there is resistance @ 5078

> 5078 ....then we go to 5104

< 5078 then we go to 5069 and possibly 5062, 5041 or even 5026

 

[wallstreet1928]

Thanks WS. I see it now. I will hold for a while to see if it comes back up and breaks the resistance and also bring my limit down to 5080.

also watch the DAX as it is the market leader before the US opens............

DAX is very bullish today and I shall explain why in a bit

DAX resistance @ 5430 .............keep watching potential double top here

> 5430 FTSE goes higher

< 5430 FTSE falls with it

R2 resistance @ 5433

 

[wallstreet1928]

Gold has hit yet another record high rising to $1093/oz in overnight trade. The latest surge has been triggered by news that India’s central bank purchased 200 tonnes from the International Monetary Fund – the largest such transaction by a central bank in over thirty years.

Analysts opinion regarding this move diverge greatly, with some dismissing the action as mere currency management by Indian monetary authorities, while others seeing the rise in gold as part of the larger theme away from dollar dependent reserves. There is little doubt that gold is essentially a fear trade, driven by anti fiat currency sentiment at a time when most of the G-10 economies are running record fiscal deficits that threaten their balance sheet positions. Aside from jewelry, the metal has few industrial uses and the recent run up has been helped tremendously by the lower interest rate environment in the G-10 universe which has made carrying costs for the yellow metal much more palatable for long term investors.

We continue to remain constructive on gold as long as it remains above the $1000/oz level, but those investors who would like to express a bullish view on the precious metal should also consider the Australian dollar as a possible FX alternative. Along with Canada, Australia is one of the top five producers of gold in the industrialized world. However, unlike the loonie which only yields 25 basis points the Aussie carries a 3.5% yield – the highest in the G-10 universe.

The AUD/USD has not had any serious correlation with the price of gold for more than several years, trading primarily on risk assumption and risk aversion flows. However, that situation could change rapidly if the rally in gold accelerates attracting further attention to the trade. An early indication of this possible new dynamic can been seen in tonight’s price action. Despite the disappointing Australian Retail sales number, the AUD/USD has climbed to a high of 90.74 in early European morning trade as gold prices hover near the $1100/oz. mark. If gold breaks that key psychological level, the Aussie could follow suit offering currency traders the dual benefit of high yield and further capital appreciation.

 

[SuddenDeath]

morning everyone, does anyone here have any views on Direct Access trading ?

 

[wallstreet1928]

I will be making a transition to NING.com soon folks .............

I would kindly like to give everyone the invitation to come and join me as I intend to post my analysis live on the social forum ........

Thank you very much

 

[TZ Futures]

Mr Lakhan

I thought you closed your long positions as per the post above on the 2nd November

and you were shorting Gold as per the post above

sorry my friend, but your posts really do confuse me

Hi, Long was closed at 1067 and went short at the same level. Stopped out at 1077 where we remain long since and also bought twice as more contracts at 1082. Target 1100 for all our long positions now.

Sorry if some of my posts dont make sense at times...brain working overtime at present!!

 

[madoff]

morning everyone, does anyone here have any views on Direct Access trading ?

As far as I know, DMA is only for the really experienced trader. Yes, you can see the order book, but you could wipe out your account for mistyping orders/trades.

 

[wallstreet1928]

morning everyone, does anyone here have any views on Direct Access trading ?

yes very expensive business, as minimum contact = £10 p/point

I only trade 2/3 contracts = £2/3 per point via CMC markets CFD platform

Otherwise I would have been trading DMA a long time ago .......

If you are proficient at trading and have the ability to notch up a gear then certainly feel free to go ahead............

please keep me updated with how good your broker is fees, etc etc

 

[madoff]

yes very expensive business, as minimum contact = £10 p/point

I only trade 2/3 contracts = £2/3 per point via CMC markets CFD platform

Otherwise I would have been trading DMA a long time ago .......

If you are proficient at trading and have the ability to notch up a gear then certainly feel free to go ahead............

please keep me updated with how good your broker is fees, etc etc

WS, do you trade the same size of contracts for indicies as you do in forex, given that forex is more volatile?

 

[wallstreet1928]

WS, do you trade the same size of contracts for indicies as you do in forex, given that forex is more volatile?

forex and oil is usually 1-2 contracts as I average in to a good position

but if I feel the set up is very good then i certainly purchase 3 contracts, same applies to indices

every trade is different my friend, a discretionary system

 

[10pips]

Long from 5077 - 25pips stop loss. target is 5099

closed for -10pips!

 

[wallstreet1928]

I have had 1 drop out in December and another one for january, for reasons best know to the individuals involved.

I have 1 slot available for December and January for any one interested in learning to trade the markets. I am offering to become a mentor for 4 weeks, with 1 hours sessions 3 times a week ....

we can do the sessions via skype

please PM if you are interested

thank you once again