September 2014

[cimac]

Ftse ooh quotes indicate we may gap up but if we do I doubt
it will hold. So I think we pop and drop and then try to find
support and move up again. So a 3 way move really.

Let’s see how we go.

Never give up, never surrender.

[cimac]

We got 2 out of 3 (of the 3 way move) but 3 is reluctant and I have
decided that the profit from the 1 and 2 is enough so stand aside.

Never give up, never surrender.

[cimac]

Ftse has done enough to confirm there was a pop and drop
and then support for a move up ( still in progress ) so
the 3 way worked out.

Never give up, never surrender.

[cimac]

Just about got that 3 way as now things don’t look so good
and it’s now all about does US help or hinder …. hooyah

Never give up, never surrender.

[cimac]

Markets will start to focus on EcB thursday and NFP friday
and in an ideal world we could see weakness switch, at
some point, to strength as we hit the numbers.

Overall I want the markets to head down hard nextweek
so a rally would be good for short entries.

Better to react to the numbers reaction than try and
guess both a number and a reaction beforehand, imho.

Never give up, never surrender.

[cimac]

Ftse leading the way home … well atleast it’s done 300pts
of the 6900 -> 6000 (safer to close at 6100 then watch).

Never give up, never surrender.

[cimac]

So far today there is quite a difference between Ftse and
the main euroland stock markets Dax Cac Mil which may
be due to the EcB expectations on thursday.

From here to EcB and NFP I may stop trading and wait to
see the initial reactions in each case, fwiw.

Never give up, never surrender.

[cimac]

A few long stops being taken now … hooyah !

If your short, trail those stops into EcB and NFP as it
would be a real shame to give back hard earned
profits from the oh so difficult shortside.

Never give up, never surrender.

[cimac]

Looking at a possible support level.

If I do the maths on a market like s&p500 it comes in
at 1950 which does not look to out of the ordinary.
Failure to bounce at that level would equal a dip
into the do-do 🙂

Never give up, never surrender.

[Khalsa]

Same script Cim.

We have hit my 1955 SPX target today. (low was 1954.30).

We have bounced a little and held it for now.

That is the do or die level. If that goes we should print a 189x.x print imo

 

Plan your trade, trade your plan!

[cimac]

Hi K

I have been looking at the s&p chart again and to be safe
the support could be in the 1955-1940 zone.

As you say the next level down is circa 1900 and break
that with force and it’s goodnight charlie 🙂

I would rather just watch for now and stay flat.

Never give up, never surrender.

[Khalsa]

Thanks and agree.

I have closed 4 running shorts today from 1970’s and 1980’s basis 1955 SPX.

I am happy to run what I have left and to add on a good bounce again.

However if 1955 SPX holds, we can bounce 20-30 points and still be in a downtremd.

These are psycho markets for sure. This morning around Europe open, it looked like it wanted to rally.

Plan your trade, trade your plan!

[cimac]

Yes, I want to short the Ftse after a bounce and continue
down to the retest of 6000.

Re the Ftse a tag of 6529 zone could be equivalent level
we have discussed for the s&p and likewise we have got
very near that today so again great care needed.

Never give up, never surrender.

[Papillon]

yes the FTSE 6528/9 I was watching, intended to try a long if it got there but it stopped circa 10 points short. Still time to get there even if it’s not until tomorrow.

[Papillon]

Small long at FTSE 6530, tight stop.  I like this kind of trade, you know quickly whether it’s a goer or not.

[Author]

Posts