UK Stockmarket 2009 and beyond

sabretoothtigger

Theres a free webinar (live video presentation with Q&A) shortly on using charts and interpreting them for an advantage: https://www2.gotomeeting.com/register/555029138

The show starts at 8pm ET (12am GMT) and should last about 45 minutes. Here's what Julia and Michael plan to cover:

• Favorite Charts of Interest
• Trend Breakers
• Scanning Techniques
• Volume Buzz
• Trendline Alerts
• Twitter Charts
• Portfolios

Its american based but they have all the best stuff so that figures


Discussion of Centricas hostile but apparently profitable bid for Venture gas fields
http://www.heraldscotland.com/rivals-will-follow-centrica-1.917345

uk_steve

^^^^

dam i missed it

tradetime

Market is getting frisky again, 1068 tagged intraday on the S&P500, with volume spiking yesterday and today, this should hammer down the bears and have the media waves flowing with bulls even more than currently. My analysis suggests quite heavy selling into the strength, now we get to see just how much of the money on the sidelines is willing to commit at these levels as fear of not getting a pullback overwhelms reason. 1120 remains my primary endpoint target, although I have an overshoot projection on a fib extension to 1158.
If all the money rumored to be on the sidelines decides it has to be in or be damned, then all projections go out the window, with option premiums quite cheap that might just be worth a punt.
On another interesting note, the Irish government, if they were in a poker game, seem to have gone all in with a medium pocket pair One sincerely hopes that pays off for them. One figure I heard quoted on Bloomberg was in US terms, adjusted for the size of country, GDP etc, it is the equivalent of a $7 Trillion bailout:eek:

[Deleted User]

Back from hols and happy to see the bullish charts (and portfolio profits of course). It looks as though 5120 will be changing from resistance to support, perhaps after a possible small pullback.

I have seen NG and TEP mentioned in recent posts. I already have both amongst my 16 stocks and am particularly looking forward to TEP breaking out of its range. I hope you are all doing well

cloud_dog

cloud_dog wrote: »

I suppose I was thinking more along the lines of the convergence of a couple of TA ocurrances, first being the breakout of the symetrical triangle (to continue its uptrend) and then it breaking but not closing above its previous high.

My thoughts are:

1. Often stocks that breakout of a symetrical triangle will re-test the breakout point
2. It failed to close above the previous high
3. It may be forming a rising triangle before it gains sufficient momentum to break the 740 area longer term.

All of this is me guestimating and hypothesising what may occur.

Been away for a few days on business and it seems 'crazy FRES' has decided to completely ignore my post of possible action and has continued withi its balistic rising. So, the questions are...........

• Will it reach / exceed my 810 possible high
• What will I do if it does :-)

sabretoothtigger

I just noticed the ftse is back to zero on the year. We just spent a year bumbling round in the dark only to find our own footprints it seems :laugh:

It reminds me of a year ago cancelling my short because I was worried the ftse might rise back 200 points on me, opps. Not sure if the same sentiment could be true now


Sp500 is still down like 12%. But if we take into the account the currency difference in those numbers its only about 4% off us. However the dollar index has fallen 8% so go figure..






Comparing volume average, usa is down only 10% on last year and we're averaging about a third lower volume.
Doesnt seem theres an obvious conclusion to draw like the dip thats visible 08 year end



5150 is a rough projected open tomorrow before asia




GPX - Syrian oil field with an iraqi 'agreement' on gas

What will I do if it does :-)

trailing stop loss of 10% for some balance of what you hold?

tradetime

cloud_dog wrote: »

Been away for a few days on business and it seems 'crazy FRES' has decided to completely ignore my post of possible action and has continued withi its balistic rising. So, the questions are...........

• Will it reach / exceed my 810 possible high
• What will I do if it does :-)

Looks like it has been on a real tear, big moves in gold and silver got a lot to do with that I'd guess, silver broke out above a double top next target would be $19 ish keep an eye on SLV and the US$ going forwards. Huge short positions on the US$, if it were to turn the short covering rally would be fierce and commodities would take a beating.

tradetime

sabretoothtigger wrote: »

Sp500 is still down like 12%. But if we take into the account the currency difference in those numbers its only about 4% off us. However the dollar index has fallen 8% so go figure..






Comparing volume average, usa is down only 10% on last year and we're averaging about a third lower volume.
Doesnt seem theres an obvious conclusion to draw like the dip thats visible 08 year end



5150 is a rough projected open tomorrow before asia




GPX - Syrian oil field with an iraqi 'agreement' on gas

Interesting, someone asked me for a rough projection today on the FTSE, but since I don't subscribe to UK data on my charting package I just had a look on some web based proprietary charts and in line with projections for other indices such as DAX and SPX it looked like 5160 was the likely target, but since it's already just about there, and my projections for DAX and SPX have some way to go that's an unlikely endpoint

cloud_dog

I keep thinking there's got to be (????) a short-term blow out soon, got to be, hasn't there

A lot of my resource based stocks have risen significantly today (almost like a final blow out) - CRND 6.2%, CZA 7.2%, FRES 4.7%, MXP 9.8%, POG 5.5%, WTN 7.6% (numbers from iii).

Feel like I'm turning in to (am) a manic depressive, feel like I've been asking the 'When's it going to correct' questions since May...... Oh, I have!

Ho, hum, lets roll the dice for another few days and see where it takes us.........:rolleyes:

tradetime

Unfortunately (for thier accounts) a lot of retail traders have not only been asking that, but have been shorting the market trying to pick the top, not a good idea to fight the FED. Just roll with the trend, but keep the exit in sight.