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Short Ftse 6679
That is the only trade, hence risk I have atm so I am
going to give it time, maybe tuesday night, fwiw.Never give up, never surrender.
It looks as though your 7000-7200 is going to come before 6000 cimac.
Was always a risk.
This current move only looks good for 6725 max so another dip
of sorts should give a fresh look at the wave count etc.I am really surprised and would be even more surprised if we
don’t get a good dip tomorrow.The main thing is not to get burnt if the market goes against
your plans and that is the beauty of having your own form
of analysis because part of it’s job is to tell you when you
are wrong, a.s.a.p.Never give up, never surrender.
Re Ftse 6000 or 7000-7200 which comes first.
Atm it looks like the dip below 6100 was enough to
complete the pattern ie 6000 was not required.IF Ftse goes to 7000-7200 without another look at
atleast 6100 if not 6000 first, then for sure in the
US the megaphone is not the pattern in play.Never give up, never surrender.
Bottome line we need to see OE print as that should
answer part of the Ftse and Dow pattern questions.By now we should not be surprised by anything this
market does but we still are 🙁Never give up, never surrender.
Today the market got excited about EcB qe talk, once again.
By the time they do something, it will all be priced in.Look at Japan, foot on the qe gas pedal and foot on the sales
tax brake pedal, at the same time. No wonder the public is
not spending and has sent the country into recession.Never give up, never surrender.
If we don’t get some decent downside today then we must assume
that the big money is supporting a +ve OE this friday and we
should tailor any short positions with that in mind, imho.Never give up, never surrender.
Short Ftse 6679
Second half added at 6696
That is all I intend to risk and have the margin
to ride any storms, if I choose to.That is me done trading and will just be watching
apart from moving moving stops as per normal.Never give up, never surrender.
Ftse rsi on a daily chart for the last year or so is in the zone
for a drop but we could still see 6725 or even 6750
just in this part of the move higher.Sun is out, time to choose some wine for Christmas 🙂
Never give up, never surrender.
Hey cimac,
sat quietly watching this action, what are we now about a month from quad expiries, always flags a caution sign up for me when we get this close to expiry as they drive things one way or they other. I wouldn’t be surprised to see them drive this up for the next 3 weeks and then whallop…who knows though, crystal ball would be nice, but longer term patters mean this could be the US flagging…. as in a consolidation pattern…
Hi Ark,
Bulls will think they have ThanksGiving and Santa Rally
plus a few other seasonals on their side.Bears should get mid November weakness but so far we
see not a sign. This OE week the stats and so the odds
favour down Mon & Tue and up Wed Thu Fri but
the bulls have stolen the bear’s days.Never give up, never surrender.
I have read some analysis which says because the bulls
got mon tues the bears will get wed thu fri and more
with downside into mid December followed by a sharp
rally into late Jan – early Feb.The downside I like the sound of but would want to
see it start before I signed upto that idea !For now I will keep a small short running in the
background and then day trade boths ways.Never give up, never surrender.
thought today would pop n drop , so wrong again.
no idea now , but doesn’t look finished .
lost count of the number of times I’ve seen ….”stocks rally on stimulus hopes ” -lol
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