cynic
- 20 Oct 2007 12:12
rather than pick out individual stocks to trade, it can often be worthwhile to trade the indices themselves, especially in times of high volatility.
for those so inclined, i attach below charts for FTSE and FTSE 250, though one might equally be tempted to trade Dow or S&P, which is significantly broader in its coverage, or even NASDAQ
for ease of reading, i have attached 1 year and 3 month charts in each instance
cynic
- 05 Jan 2016 08:47
- 19312 of 21973
hard to tell with both major indices
i think everyone is still pretty shell-shocked so there will be bear closing pulling against rally selling - or vice versa
FTSE at current level of ~6125 is worth watching for direction
jimmy b
- 05 Jan 2016 09:09
- 19313 of 21973
Closed DOW now for 65 points . Going down at the moment . Have no clue today if it's going to rally or fall back.
Again may be worth buying FTSE/DOW on weakness .
cynic
- 05 Jan 2016 09:11
- 19314 of 21973
ftse also looking unsettled
Stan
- 05 Jan 2016 09:36
- 19315 of 21973
Yes well done James
Re market today, if in doubt stay out is my motto.
jimmy b
- 05 Jan 2016 09:51
- 19316 of 21973
Yes true ,i sometimes try and trade for the sake of it .
Memo to myself ,, trade when you think you see a clear direction.
cynic
- 05 Jan 2016 10:09
- 19317 of 21973
markets dropping again ...... cash DOW suddenly -80 and FTSE only +12
jimmy b
- 05 Jan 2016 10:40
- 19318 of 21973
Went long DOW 17055.
cynic
- 05 Jan 2016 12:40
- 19319 of 21973
2 lots of numbers from US today, neither of which are likely to affect sentiment greatly .....
U.S. auto sales for December will reveal what a bumper year it was for automakers at 2 pm ET.
The Institute of Supply Management is due to post its economic activity index for January at 10 am ET.
jimmy b
- 05 Jan 2016 12:49
- 19320 of 21973
I'm staying long for now and will stop out if things look nasty below 17000 . I have enough points in the tank to accept a small loss if i'm wrong .
cynic
- 05 Jan 2016 13:00
- 19321 of 21973
FTSE has moved ahead again - now +33 - so with luck DOW will tag along
actually, with DOW now at 17095, i may bank this morning's profit .... shall certainly now keep a watchful eye so to do
===============
banked 30 points which is better than a kick in the nuts
shall now wait to see if 17,100 is (re)pierced with any impetus
cynic
- 05 Jan 2016 13:06
- 19322 of 21973
cluck cluck cluck :-)
cynic
- 05 Jan 2016 13:28
- 19323 of 21973
DOW now at next resistance of 17,140
and ditto FTSE at 6125
cynic
- 05 Jan 2016 13:55
- 19324 of 21973
blinked and missed ....... dow suddenly roars to life (17175)
cynic
- 05 Jan 2016 14:04
- 19325 of 21973
with mild bravery have gone long FTSE at 6130
cynic
- 05 Jan 2016 15:05
- 19326 of 21973
all very confusing at the moment
still in the money on FTSE but not comfortable that DOW doesn't want to hold onto any gains, notwithstanding last night's awful showing (and ditto the day b4)
==============
decided to back out of FTSE with joke profit and shall revert to watching
jimmy b
- 05 Jan 2016 15:10
- 19327 of 21973
Closed DOW for 62 points , like you say it doesn't seem to want to rally but might be worth another punt down lower ..
cynic
- 05 Jan 2016 15:30
- 19328 of 21973
as i have written b4, i see 2016 as a year for shorting, but i don't know from what sort of level ....... as with longs, i'll probably duck in and out - and at the wrong time of course!
jimmy b
- 05 Jan 2016 16:11
- 19329 of 21973
Strange day all in all ...
cynic
- 05 Jan 2016 16:17
- 19330 of 21973
very small long DOW 17,101 ...... bit silly in many ways, but just trying to prove the level is fine to make a turn :-)
jimmy b
- 05 Jan 2016 17:08
- 19331 of 21973
So do you hold and stay long overnight ?