Good evening everyone.
Been away for a couple of weeks. Managed to look in now and then
using my mobile as a modem to see what everyone is doing.

As you can plainly see from the above chart, we've been range trading
all year and we're now near the bottom of the range.

Systems and swing trading work great in trends but tend to give false
signals in ranging markets, IMHO. So I think what's been happening is
folk have been getting bamboozled and stopped out near the range
extremities where they have been given false breakout and trend
continuation signals.

Until we do break the range and start trending again I believe the
safest option is to play the range and ignore your 'Signals'.

I don't know when or which direction we'll break, nor, I suspect,
does anyone else. Osama could cause a drop, US election year could
cause a rise. Maybe we get both, who knows? That's the point, we
don't know the future. So if you are in a range, then play the range.
If we enter a trend, then play the trend. Just be careful with your
entry points and stops and don't try and get greedy by calling a change
before it happens and try to take all the move.
Wait for confirmation and take some of it.

Market doesn't know where it wants to go at the moment, so don't get
whipsawed whilst it makes it's mind up.

Melnibone.

Melnibone
How about doing a Thoughter slot for me one weekend?
Martinibbs@aol.com if you can be tempted.
Regards
M

cheers martini and BigAl.
:-)

morning all.
Very good reading and analysis big Al. Thanks for that.

Morning.

Cheers guys and welcome home Melnibone.

Have a good day.

mornin all

Mornin all

good to see you back melnibone - hope you had a good hol

Morning all

Thanks for your thoughts Al (and explaining the TA, so it makes more sense!)
I'm out most of the day, so have a very profitable day trading everyone.

Morning.
Interesting read Big Al.

Welcome back Melnibone.

Morning. Thx folks. It's not the whole story by any means, but might give some an idea/inspiration.

Thx to M for his HTML/hosting capabilities! ;-)

Have not made a trade today - pretty thin Monday as usual apart from the odd one.

Thanks Martini and Big Al - this thread is great and useful to
many on the BB I am sure - even if they are too shy to post on it.
Here's hoping for an upward week! Be Lucky All!!

Morning all,

Thanks for the welcome.

Thanks for the offer of being a 'Thoughter', Martini, it gave me
a 'feel-good' moment. :-)
I'll have a think about it, although I would feel a bit of a fraud.

There are guys on these boards that have probably forgotten more than
I've learned, so far. I've only been trading Cfd's for about 18 months
after several years of normal 'Share Investing. I bet there's long in
the tooth traders and professional fund managers that have a little chuckle
as I fumble my way through the learning curve and bring back memories of
their own early days. :-)

Maybe best if I just keep throwing my own views up on the threads
at the moment, rather than possibly wrongly influencing folk with
the headline lead that is currently being so ably done by the more
experienced traders and investors with a track record under their belts.

Melnibone.

Morning all.

Nice one Big Al.

PLR seem stuck in the current range since last week.

Bit of news would shift them.

I say that because when I do usually, then it happens so now the speel is cast.

There given away my secret for trading!

As you have I thought it only fair.

Magic spells!

Ah ha, ah ha, ah ha ha ha...............

THUS is coming down nicely. I can see this testing the 15p support
that was the level in March 2002 after the demerger by Scottish power.

15p was the level that CSFB placed loads of shares with institutions
that initially gave a price floor prior to the slide to 5p.

Margins are getting squeezed in this industry, at the moment, and with
the US ex Chapter 11 telecoms coming back into the fray, I can see even
more pricing pressure.

Be wary of CTM, as well, these alternates were priced for growth, and
without growth, the growth premium will be removed from the share price.
CTM has a lot of bond debt, as well, that it will need to service.

Melnibone.

Up to you of course Melnibone - but there's a lot of wisdom
in what you say that I'm sure others would find interesting.

Melnibone - I only have 2 years CFD, 3-4 years spreadbetting and about 7 years investing. That isn't much more than you.

You can either be right or wrong and the market makes fools of all of us, especially those fund managers - completely useless bunch losing everyone else's money whilst taking fat fees.

Am currently waiting for Friday to see how much I cocked it up! ;-)))))

sw - we've not seen why PLR had a good burst late Friday yet. I'm intrigued.

Went long MER at 173p earlier and now an RNS has landed handily. ;-))

Yes it was a good burst, can not understand why it has now stalled a little.

It definelty bounced on support, but the indicators are that it should further up than that.

Wait and see job for me.

which way you people are playing AZN?

IMHO, if AZN doesn't get back above 2400, then it will test 2200.

Sounds a lot, I know, but think percentages rather than price and
move the decimal point one to the left.

You are now talking about 220p and 240p. Not such a lot now, is it?

Melnibone.

2 trades FTC short at 180p and 178p