Last chance for bulls to hold 6580, otherwise dip to 6400

Good morning. Slightly frustrating yesterdays as the drop started from 6660, and I had my short order at 6670. Such is the game sometimes. The FTSE bears came out in force from that level though and despite the support levels holding for a while, once the US started to dip later in the day the FTSE didn’t stand a chance. Slow to rise, quick to drop and slightly out of step with its US masters. Eurozone news started off not being great yesterdays with Spanish PMI coming in below forecasts, but then improved with each bit of news after that. Not that it had that much effect, even hitting the bottom of the 10 day Raff at 6591 didn’t generate much of a bounce, so its fairly safe to say that the bears are holding the cards at the moment. However, everyone’s still standing by for the “Santa rally” if it comes this year. I think it will, but late – probably something like the 23rd December.

According to the Bianca chart this 6580 level looks rather significant – all 3 channels are showing that as a support area. If this level holds and we get a bit of a recovery today then 6635 and 6657 look possible. Maybe even the top of the 20 day Bianca channel at 6684, though that might be a big ask!

Asia Overnight from Bloomberg

Asian stocks outside Japan fell, with the equity gauge heading for its first drop in eight days, as signs the U.S. economy is strengthening fueled speculation that the Federal Reserve will soon start tapering stimulus.

The MSCI Asia Pacific excluding Japan Index dropped 0.6 percent to 471.58 as of 3:04 p.m. in Tokyo, with nine of the 10 industry groups on the gauge falling. More than $8 trillion has been added to the value of global equities this year, the biggest increase since 2009, as central banks took steps to shore up economies worldwide. U.S. stocks declined yesterday as investors speculated on the impact retail and manufacturing data will have on Federal Reserve bond buying.

“Economic data over the past few weeks have been progressively coming in better and markets are now in the mood to put good economic news as bad news because that will bring forward any reduction in central-bank support,” Matthew Sherwood, head of investment markets research at Perpetual Ltd., which manages about $25 billion, said by telephone. “There might be a little bit of downward pressure this month.”

S&P Futures

Futures (SPA) on the S&P 500 Index was little changed today. The U.S. equities benchmark index dropped 0.3 percent yesterday amid data that showed manufacturing unexpectedly climbed last month and retail spending fell on the weekend after Thanksgiving for the first time since 2009.

The U.S. Institute for Supply Management’s manufacturing index rose to 57.3 in November, a report yesterday showed, after economists surveyed by Bloomberg called for a drop to 55.1. Attention now turns to jobless claims and payrolls figures due later in the week, with four of five investors surveyed last month saying they expect Federal Reserve policy makers to put off cuts to their $85 billion-a-month in bond purchases until March 2014 or later.

FTSE Outlook

ftse 100 prediction, only if 6580 holds
ftse 100 prediction, only if 6580 holds

For today, after yesterday’s dip we may see a slow recovery bounce, especially if this 6580 area holds as support. If not then it would appear that a dip to 6540 is pretty likely. I am therefore looking to go with the slight risky, contrarian view initially  and be long for today, unless 6580 breaks, which would require a change of stance. The FTSE is still very disconnected from the Dow which is usually follows pretty well. Whilst the Dow has risen from 15500 to 16100, the FTSE hasn’t really risen at all, bouncing around between 6600 and 6700.

Not much more to say about that really, fingers crossed 6580 holds as support for the moment and we get a decent bounce! If it breaks then just go short!

221 Comments

  10. dax will be down to 9260 ish in next couple of days , got a short in from 9410 yesterday , so a good day so far 90 odd pips limit at 9230 , may go back long from there from 9200 if we get a spike down to it

  14. btw for people reading my trades ive stopped building shorts, because my indicator has started to stabilize meaning strong downtrend (with hi vol)..i dont wnat to risk building up short which is quiet significant as it is when such hi vol is present as theres a good chance my avg open will be fked up as well as wen a bounce is quiet near dont wanna ruin such a good trade :).

    Will post when i start seeing reversal happen (it will be a quick bounce as i have been mentioning for last 3 weeks now)

      1. dropped a bit since yesterday though (roughly 5%)..but still bearish…
        if it drops another 15%-20% (which will be because markets drop most likely, indicator can drop as well wen markets have a very strong reverse as well) then ill start building longs.
        2 things can happen right now…we can either go into a range play and ftse stays above 6500, or ftse will see sub 6500, this i dont like to bet on lol id rather see where the market goes and stick to my strategy rather than predict tops and bottoms of the market..
        but i can see a lot of people being stopped out which for me is a good sign (not being rude) as it shows market coming closer to reversal..
        because i think we have all exp that soon as we get stopped out market reverses and we all end up saying oh noes why did it have to be me..shouldve held on to it longer and i wudve been correct.
        its this type of behaviour in market i look for (which is kind of incorporated in the indicator as well) that shows which direction i should be betting in 🙂

  18. QUESTION: Hi Mr. Armstrong.

    I’m a daily reader of your blog and believe you are a service to the public of the world. Thanks for all your work. My question: Is there still a minor correction coming to the stock market before it takes off toward 20K? Or are we just headed straight there?

    Regards,

    C

    ANSWER: No. There will be a correction first, This will get the talking heads all bearish yelling how they all called the high. This will trap many people in the short-side. That is what we must see to create the surge.

    1. agreed haha, thats when i go long 🙂
      because currently everyone going long and market moving away…they all getting stopped out..once they start thinking ok ftse going to tank…thats when i go long 🙂

      1. trading is easy if ur patient..its the execution of the trade which decides if it will be profitable or not.
        because we all know markets will jump (most likely)..but when to buy? no one knows! Unless u got a huge capital u can slowly build positions..if not then u have to wait for the market to show trend..EVEN THEN!!! U GOTTA BE EXTREMELY GOOD AT TIMING!

  20. Looks like this was a spot on trade for me. Im gonna close my position now as ( as hashmash hints as well) i think reversal isnt too far away. 200 pips profit is a good months work for me.

    1. Hey dont get me wrong…ftse can go to 6300 before we see a reversal..but what im saying is if the probability of reversal is soo high then no need to get greedy by building an extremely large short position.
      I am a fully bearish on FTSE..if a see a decent pullback i may add to short..but currnetly not thinking about it.
      I believe ftse will go down much further (or may be range bound)..but def do not see bulls anytime soon (unless a HUGE HUGE HUGE reversal pops in from no where).
      People think what i say is a bit confusing so in a simpler way id say
      1. I am putting higher probability on ftse falling = X (enough for me to have a decent short position 🙂 )
      2. Chance of range bound is X/3
      3. Chance of reversal at current stage – too small for me to even give an estimate.

  21. Well done all those longer termers such as Hash who were short. Some great gains, I wasn’t expecting the drop to be so sudden and sharp, hence closed all my shorts at 6600 area and started scaling in Longs… If 6520 doesn’t hold we are in trouble. Wouldn’t surprise me to see US Markets fly on big POMO today and Draghi Thursday & NFP Friday!

        1. Re-posting Ahwab’s post from yesterday.
          Ahwab says:
          December 2, 2013 at 8:59 pm from 86.160.93.200
          Still got short DOW running, long at 6580, looking for 6600 should get that in the morning. Expecting further decline on DOW open tomorrow.

      1. I a bit pissed off tbh, i was knew today to be a bearish day since last week, though tried to get greedy and got caught up in a long – tried to make a quick buck but failed.
        DOW should see some points knocked off today, but into ftse after hours, personally don`t think ftse will go as low as 6529.

        Bought more at 6534, trying to average position, and remove some for b/e possibly. But my target is 6490 area to start buying longs, nice resistance there.

  22. PMS – surely you must be going Long, or scaling in? You’ve been talking about these levels for a long time as BTFD opps

  24. I’m a bit cautious. Do not like catching knifes and FTSE since yesterday seemed that Bears came out furiously. Maybe is the last run for them. Who knows.
    I only have a small short position in Eurusd as it broke a rising wedge and a channel. EURUSD could not sustain a close in the highs in past week

  25. The gap lower on the US futures might close at the open, it’s double Fed injection of $$$$, this could fuel the uptick in FTSE as shorts will buy back…

  26. Well 6580 didnt put up much of a fight!

    Bottom of the daily Raffs here at 6530.. have gone for a risky long here @ 6532

  28. The Williams oscillator (10,14) is showing -100 on the daily for the FTSE i.e. at maximum oversold. Just one ‘indication’ that there is a reversal due on the FTSE… but EXACTLY where though… hmmm 🙂 DAX is at the other extreme (maximum overbought) so obviously/maybe 🙂 a correction due there… but where… hmmm 🙂

    2. yeh the chance of6675 is quiet small..but hey like i said..im looking for the best opportunities to add to my short..if i dont im still making money 🙂

  35. Nice to see Nick has finally jettisoned his constant bullish theme…i.e..6770+ was the theme not long ago according to raff channels…lol…This morning I nearly choked on my cornflakes when I read he penciled in a possible 6400….lol…I bet he dissapointed a lot here who were anticipating a Santa rally. 🙂

    1. Personally 6470 area is more likely. Also who would anticipate a Santa rally with indicies at all-time highs? Regardless, many people including myself are looking to buying entry points as we will get 6800 by year end.

      1. They are cashing in to buy Christmas presents. When they finish it mid December they will buy stocks. 🙂

  37. If anyome is looking to short ftse then dont do it now ots too risky.. uve missed out on makin profit which will always be there waiting for u so dont worry 🙂
    If u rush in the market now to short theres a good chance ull be losing quiet a bit of money.
    so sit back n relax .. u havent lost money so ur good.
    wait for a small pullback n then short (if we still are bearish)

    1. It is madness to short now when it’s at the bottom already. That pullback …. e…. to 6550 already happened. Now there’s no job really for today. Just will be left with my loss.

        1. So it’s important to take short as high as possible. Above 6550 or something would be great.

  38. Anyone not holding longs right now may as well just go short. Seems the way to go. If we dip to 6400 like Nick predicts. Are we really going to gain 400 pips when this “Santa rally” kicks in on nicks predicted date 23rd????

  39. White don’t expect a one way drop, today looks to be a done day tbh, though DOW should break 15900. Tomorrow might be see some pullback

    1. Hopefully, got longs at 6600. Been a bad 2 weeks. Was in same position last week from longs at 6680.

  42. Guys don’t forget to factor into the equation the Thursday BOE and ECB decision and of course Friday’s NFP…more about anticipating BEFORE data comes out…as is usually the case with NFP…a big move just prior to release….day(s) before then another one as profits booked from NFP…usually a few days after maximum..

  44. FTSE reacting pretty well for now to that line I mentioned earlier. Look my new chart in twitter

  48. -3.5 points today, just recovered 45 pounds of 55 lost and will have to call it a day. Glad I recovered as it is, thought it would be much worse. It’s always another day and fresh head.

    1. Thank you hashmash, I did follow your add up, however I did it seconds before you posted. Just gave me a peace of mind.

  49. Very quiet for a POMO day! S&P 500 shows no sign of breaking out of the previously mentioned ϵ-channel straightjacket. Maybe Ben is planning a last-minute fireworks display! Maybe the medicine doesn’t work so well any more. What next – by way of stimulus? 🙁

    2. Well PMS, if you take an ϵ-channel on a daily timeframe from last June 25, the lower bound is at about 6473 now, rising to touch 6500 shortly. One would hope for a bounce off that level, or 6450 perhaps – by 21 or 23 December. 🙂

  53. Larry McDonald on CNBC now saying same crap about how recent good economic data is bad for mkts and why DOW is down…good news is bad news….taper scaremongering again!!

    Then when they want to change the script and screw us over it’s good news is good news and mkts rally. Your (impossible) task is to decipher this crap!!

    2013 was all about this crappy tapering…is it, is it not????…ALL YEAR!!!! Any rationale person can see that this tapering story is nonsense…every bloody other month the same crap gets recycled and interpreted and re-interpreted a zillion times!

    Proof?? Look at May sell of from around 6900 to 6000 then back to 6800 in a few weeks…all on taper fears…when Bernanke didn’t say anything new in his Fed meeting back then…

    Can’t wait till these crooks finally taper and we can move on from this scam…just a pretext for them to make silly money until then…

    Seriously..do you honestly believe Bernanke is going to taper on his last Fed meeting on Dec 17/18??? It’s absolutely inconceivable…not on his last day in office…and yet CNBC and Bloomberg are already talking crap as how to interpret NFP data this Friday and it’s consequences for tapering..

    Like the Nobel prize economist (Robert Shiller) said yesterday…stock market is just a bubble….expect it to get popped next year…why??? Do you expect another straight rally of some 26%?..expect tapering and US debt crisis to be the catalyst…I have my claws out for shorts….mkts fall faster than they go up..retribution in 2014….

    Yes…it’s a RANT..but I feel better now…lol..:-)

    1. The reason why markets fall faster is because mathematically the gradient increases on decline.
      Also, people dont panic when markets go up but do when they fall..hence when watching the vol index…a decrease in vol index most of the time signifies a bull trend.

  55. And add this crap : EUR/USD pushing higher, if that f*** s*** of good econimc data is hurting markets for taper fearing, EUR/USD should be lower

  56. OMG,
    That was some roller coaster ride.

    Was riding it all the way. Just closed my shorts and will be buying. A new safe for Xmas…Lol

    That was some crazy shit!

    Go all.

  57. big down side on ftse still…im not even thinking of buying yet.. going to keep hold of my shorts.
    Use 1-2 lot trades intraday, if i see fit, to catch extra points 🙂

    1. I read about two weeks ago someone predicting a 5% correction on FTSE.

      Right now we are at prob 3%.

      It definitely surprised me, but one rule I learned from Ahwab saved me today, “never trade against the trend”. Thanks Ahwab 🙂

      I owe you a beer.

      Anyway, Jack, how’s things going today?

  59. Sorry PMS Trader forget to add the illogical forex moves .. 🙂 Am trading forex as well at the moment as well…same nonsense!! No FTSE or doe trading for sime time now..just use them as a barometer to gauge movements in forex, equities and bond mkts..

    Sorry Santa not coming this year!!!…You only have just over 2 weeks…lol..

  61. Pimco’s El-Elrian is saying get ready for the big rotatiom next year in 2014…NOT money moving from equities into fixed income..but a repeat of 2013..money rotating/moving from retail investors pockets into city institutions/hedge funds balance sheets…lol…

  63. Another good one for you…investors..and particularly retail investors are still on the sidelines..that’s what all the experts on CNBC always say…so how the hell did we get a 26% unprecedented rally in 2013 and a 50% plus in the Japanese market if money is still on the sidelines??? Idiots…

  64. On a serious note one thing I agree with what Pimco’s El-Elrian said is expect 2014 to be very volatile..indeed…

        2. funny how everyone betting long are now going short…this itself should signal something :)…
          I technically have no levels…i flow with the market and my strategy doesnt predict where im going to buy..
          I buy when i see AT THAT point is good and market is showing strength.
          And believe me…when i say im looking to go long..i might not be going long at 6400 (even if ftse starts going up from there)…i am going to wait for when the market is strengthend!) even if it means watching it go from 6400 back to 6600-6700 and then catch 100 points after 🙂 (if it is to reach 6800)

  66. Next stop +-6470. It goes with a major support area and the maximum number of correction points from the last 2 downtrends. Look at my new chart

  67. ye means people are selling lol, u dnt know if there will be a pullback or if ull see 4 full red candles..wait for tomorrow,if u have enough capital to short then yeah go for it as thats the trend but if theres pullbacks then have a strong stomach to hold on to the intermidiary losses as im pretty sure ftse will be falling even more (cant say if there will be pullbacks or not 🙂 )

    1. Yes, I’m looking for some pullbacks to resistances areas and moving averages in 4 hourly chart to go short.

  68. PMS..if i had to take a guess then id say we are headed to 6300-6350..when we break 6470 i believe majority will start shorting and thats when markets will jump.
    This is just me taking a guess..so nothing to go by lol

    2. THen THis means Taper fearing coming to markets in end of year. I believe we could see something like that. This week will be important because of important economic data. That should clear more everything concerning that and now today we are seeing that already. Some say is that but it could only mean some profit taking ahead of that.
      But what is important is the price action. And things are glooming. In the first 2 days of December we already have a bigger drop than in entirely November.
      Furiously Bears

  69. i believe majority will start shorting and thats when markets will jump – exactly, that bit should be in capitals, underlined and in bold lol 🙂

  70. … I’m first in with 6200 or 6150 but it could bounce to 6650 or 6855 there’s that’s covered it I think 🙂 sorry outside chance of sub 6000 if it doesn’t go post 7000 🙂

  71. … Ftse down 4% over the last month, 3% of that in the last 3 days a tad oversold I fear but the f’in dips 🙂

    1. I know first two days of any dip are colossal lol, expecting sideways/slight bearish movement tomorrow, nothing drastic. But what really annoys me is how out of tune the FTSE is towards the other indices. It started dropping weeks ago, how fast will the DAX and DOW need to drop, IF they do drop, to level it.

      Gl Hubris, nice shorts – though, don`t try be clever like me and play both ways on a down day – it just doesn`t work, just bear traps.

  72. I agree with PMS Ftse has strong resistance at 6470 bottom of the ascending channel.

    Still got DOW running, and atm i`m in -£860 loss with average ftse position at 6462.

    But heck doing well with the DOW open position short @ 16062. Only mistake was to try to scalp the ftse against the trend. Oh well, personally believe this bearishness will be shortlived. 6400 I think is asking too much, but 6450 area seems reasonable.

    1. I’m so mad with this short trade in EURUSD -50€ right now and running with stop at highs of last week.
      A lot of taper fearing/good economic data and break of rising wedge/channel/1,36 level, etc,etc. And even so as markets started to go deeper the f*** EUR/USD started to go higher. Weak USD always means SPX/DOW higher.

  73. Two days ago, Friday precisely when I saw that fail in breaking the broadening wedge and that ugly close, I thought to myself. Well if that failed that much I only see FTSE going to visit the other side of the broadening wedge to regain strength. But this meant a monster drop. I could not believe in that.
    ANd here we are, a few points of reaching 2 days after.

  77. an observation ftse weekly chart needs to close above this level to maintain uptrend that’s been in place all year

  79. FTSE is at brink of a major junction as we approach the 200MA at 6507. That has been a place for major reversals in the past

  80. Nick’s got his work cut out tmrw…back to the drawing board…raff channels…support, resistance have very little meaning in mkts that move out of their usual trading range…ftse lately was trading in a boring 6600-6700 range..

    1. as appossed to the parabolic range that has gone on on the other indices? Sorry, Ftse not included, the UK is more f@cked than the cac or Dax.

  81. Those who entered this week looking for an easy Santa rally..which everyone says i8s guaranteed…just got whacked!!! They have already taken big losses in the last 2 days….bet they averaged down and their stops got hit…dow fell some 300 pts and ftse some near 180…mkt may recover..but too late for them….probably stopped out and losses crystallised!!

  83. what people need to understand i think is the basics…when ur trading, money u win is from someone else (in basic sense). So money is not “created”.
    E.g I im long and person X is short, if i got a winning position im taking money from person X.
    Using this terminology
    If majority of the people are long..then theres not enough money for them to win Therefore where ever the majority is thats the wrong side to be on (not talking about intraday charts – as sentiment can change quickly intraday).

    Also if u think about it in other sense…alot of people trade and yet no one is rich because majority is always wrong! Otherwise majority will be rich :).

    Therefore using this mentality the only hard part of trading is execution of the trade. Because we all know if our trading account was worth £1m, and we were trading £2.50 a point then we can average out enough to be a winner eventually. However its not as simple when u are trading £10pp with an account worth £500 as u’ll be knocked out the market if it moves 45 points (5 point margin).

    And currently most of the volume these days has been on the buy side and has increased today – signifying still bull trend.

    Do not there are exceptions, e.g japan earth quake, 9/11 which is out of human psychology

    1. ” signifying still bull trend” – meant bear trend…lol gotta stop making these little mistakes!

      1. hold to your gains, because last month I did not hold it to all of them. Only 50% of the gains as I got stopped with f***trail stop.
        I was so assure that FTSE was for a major rally and then, what we got…. We are already so close to the 200 MA that I thought not seeing for quite a while

        1. yup im holding on to it….not selling anytime soon (untill i get a signal) dont care if i lose 25% of the gains waiting for the signal.

  84. Most people here saying NFP going to surprise (on upside) and cause markets to rally…
    As we get closer to NFP ill give my view..Currently Im looking and no massive surprise on upside.
    But lets see ill post it here when time is near

    1. ye i did luke, jsut saw my indicator now (with updated data) )..i dont trade DAX btw but now running my indicator on it i see DAX is a shit market…no trend whatsoever right now – purely sidelines.
      It’s leaning towards becoming a small bull market but not there yet.
      Dow – small bull trend.
      S&P – Still a strong bull trend.
      FTSE – STRONG BEAR!

      1. FTSE – STRONG BEAR! because you are in it 😀
        I also said when I was in it.
        Sometimes it influences your trade. You need to stay flexible and neutral.

        1. lol man i dont know how flexible and netural i can be…im hardly building big positions on top of what i already have…im looking for a reversal.

  86. 6532 close is also a big important support. We even can have a reverse just tomorrow

  87. Gone long at 6530 stop 6490 target 6700 initially. Market breadth showing some bulishness, but still risky hence tighter stop. My concern there is still too many going long..so we’ll see..

  88. Just a lil view from me (these markets i dont trade but my strategy works VERY well on it, i just have no execution exp at it meaning im shit at trading these markets).
    EUR/USD – Hardcore bull
    GBP/USD – was hardcore bull but losing a bit of steam (still bull market).
    AUD/USD – No trend
    Gold – Still a decent bear (trade carefully MIGHT be close to reversal).

    JUST TO MENTION AGAIN…I DONT TRADE THESE MARKETS :).
    Only trade ftse as thats what i have exp executing with confidence 🙂 (atleast i hope i do haha)

    1. Just don’t get too ahead of yourself, because of a good day trading, remember to watch the indicators.

      As always you never know which way it’s gonna go…

      Lesson I had to learn the hard way…:)

      1. lol im not getting ahead of myself..ive been watching these other markets for a quiet long period and they seem to move with my view but i just cant trade them as i dont know how to (dont have exp)
        And believe me when i have bad trading days i also post here

  90. Anyone recall those big cockroaches…Goldman Sachs of course…saying recently FTSE by year end 7000…lol…always be a contrarian whenever they open their mouths…

      2. I think Lehman Brothers also said it would be in the high 8000s come year end… not sure if they mentioned which year though… lol 🙂

  92. Got £250pp riding of ftse long from 6517
    Should see a 70-100 point correction over the next few days!

      1. I had long 6515 it helped me to recover my losses, but I am short scalping. It gives me pleasure.

  93. Why?? May do…but what makes you so sure? So did guys when ftse fell from 6900 to 6000 in 3 weeks back in May…

  95. Found it…Goldman Sachs said ftse 7500 within next 12 months…posted 3rd August 2013…Daily Telegraph…

    1. I also recall that guy, Max Keiser on RT saying that silver would quadruple in the next 18 months… that was like 18 months ago… lol 🙂

        1. With hindsight 🙂 , I reckon Max was trying to offload a few tonne of silver at the peak lol 🙂 More fool me for buying it lol – only joking!

          1. And Soros shorting SPX. This was a must… a trillion bet to short SPX some months ago.
            Never heard again what happen to that short. Where was his stop 😀

  96. Between the bottom of the broadening wedge and the major resistance line I draw in my chart and where FTSE touched today and closed above it, I still go for the last.

  97. Hashmash closed my short as I see 9180 to 9200 on the Dax as resistance, the Dax has been in such a strong bull market that this retrace will be seen more as a buying opportunity, would rather wait now for maybe another short from 9350 area.

  98. Hashmash says possible 6300 on FTSE…I am not ruling it out…just trying to work out the implications regards new support and resistance levels in equities and forex

    …I have seen just about everything in these crazy mkts in the last 5 years..nothing surprises me anymore…not even if we had another Flash Crash wereby dow sheds 1000 points in half hour or so like a few years ago.

    1. It’s like trying to make ‘order out of chaos’ lol 🙂 especially applicable to stock markets lol 🙂

      1. What appears to be ‘chaos’ for us certainly but not so sure about the ‘big boys’ though lol 🙂

  100. Btw guys if everyone wants to post their pp mine is £1000. Problem? I would do more but wouldn’t want to seem too cool and richness but I do cause I’m insecure ennit.
    Rant over. Nice to let out some frustration.

    Ps I agree with OMS coming towards resistance thing is will it break or hold @6470

    1. Only that for 10pp is a bit small gains.
      I trade 5pp and at some point in that trade I mentioned earlier i had a lot more than you. But as I said only catch 50%.

  101. I agree Ahwab..can’t figure out for the life of me why people post silly £250pp or £500pp trades on ftse…when obviously that is unlikely…If they are so ‘big’ why come on these forums….because most of us are trading chicken feed in comparison…having said that I hope to take my game plan up in 2014 after a poor 2013 and hopefully by June if my trading strategy works out trade ftse at £30 to £50pp max…obviously I need to first build up my account capital by then to allow me to trade such sizes.

  102. In Jan of this year I traded about £68 pp on FTSE after averaging down….took huge losses from my short 6000 entry..jumped straight up to 6365 in 3 weeks before I capitulated and took the losses…maximum was £68 pp on FTSE..

  103. France’s index..CAC took a bigger beating today than ftse….keep an eye open for a bigger potential dead cat bounce tmrw than ftse…

    1. … that’s why I am big wary of these ‘flags’ saying to short an index especially after such a huge fall lol 🙂 could be further falls, you never know but I reckon there is a likelihood of a dead cat bounce… but as always you never really know… until after the fact lol 🙂

  104. I post very rarely. Don’t trade daily. Watch market 24hrs a day. Every time I have posted I make a huge points win.
    Once my gains are positive, I keep moving my stoploss it a point where I cannot make a loss. Eg. The least i will make on this trade will be £220 (£250 -commissions). I ain’t stupid!
    If you don’t want advise, then I won’t post! Just read what you guys put!

  105. Got 2 ‘flags’ lol 🙂 on the daily saying to short the DAX (no mention of shorting the DAX yesterday lol 🙂 and 4 (FOUR!) ‘flags’ lol 🙂 saying to short the CAC (again, not mention yesterday of shorting the CAC before it took the huge 2.65% drop lol) And nothing for the FTSE 🙁 lol 🙂 and the S&P 500 🙂 Got to love these ‘flags’ lol 🙂

    DISCLAIMER: ‘flags’ are for amusement purposes only. DO NOT bet your life savings on them! 🙂

    1. Both the DAX and CAC up on the day so far… what a surprise lol 🙂 Early days yet though 🙂

  106. According the the charts lol 🙂 the downward push on the FTSE is ever so slightly starting to level off, the CAC is being pushed down steeply and so is the DAX but to a slightly lesser degree, and the S&P 500 is showing a slightly upward push (in the shorter term). Eh?! You got to love these charts lol 🙂

Comments are closed.