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I'm timing the market - who's in?
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As the jargon goes Mondays markets saw a huge reversal during the day . Can be seen in the candlestick chart below. Low was 7200 and ended the day at 7400. Similar candle last October for a low.
FTSE 100 Index, UK:UKX Advanced Chart - (FTSE UK) UK:UKX, FTSE 100 Index Stock Price - BigCharts.com (marketwatch.com)
Hammer Candlestick Patterns: A Trader’s Guide (dailyfx.com)
As I said earlier waiting for price to go above 10 day moving average can cost vital points in entry from oversold levels . It's there today but I moved last week to buy. You've got to make the call from the lows but at least I've got more units in ISF.L than before . That's the main target to increase your units . Could have gone even lower and usually does in a mini crisis etc which is what we are seeing at the moment. That could be it but who knows. Anyway the FTSE is 300 points above its lows or 4% already.
I've added some momentum indicators as a guide when price is trending higher . Simply above the ZERO line is good and below alert. Kind of links up with the moving average on the chart. So we hold for now and see when stochastic heads to overbought. That will be the selling region.
FTSE 100 Index, UK:UKX Advanced Chart - (FTSE UK) UK:UKX, FTSE 100 Index Stock Price - BigCharts.com (marketwatch.com)2 -
coastline said:As the jargon goes Mondays markets saw a huge reversal during the day . Can be seen in the candlestick chart below. Low was 7200 and ended the day at 7400. Similar candle last October for a low.
FTSE 100 Index, UK:UKX Advanced Chart - (FTSE UK) UK:UKX, FTSE 100 Index Stock Price - BigCharts.com (marketwatch.com)
Hammer Candlestick Patterns: A Trader’s Guide (dailyfx.com)Tell me about it. I bought some LGEN at 216p early Monday morning for the income portfolio, timing it just about perfectly. Was up 10% within 24h. Currently up 2.6% on the last CTY trade, which went lower and rebounded strongly along with the FTSE100.No idea where we are headed from here, but volatility is a good thing as we can leverage it to increase our holdings as you say. Regarding levels, I'm broadly HOLD for now on CTY, REDUCE above 420p, SELL above 440p, and BUY with new capital below 375p. I'm fully invested now in my SIPP but Mrs_S has a large chunk of cash still to deploy if things take a material turn for the worse.
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Looking at indicators on here Stochastic and Williams hugged the lower region and never curled up. They've been more than useful for a low call. Again as I suggested waiting to hit the moving average would have been a late call. This is where gut feel comes in making a call in a crisis. In general there isn't a crisis just a boat floating on the waves and calls can be more accurate. It's never perfect but so far so good and 9 months left in the year.NedS said:coastline said:As the jargon goes Mondays markets saw a huge reversal during the day . Can be seen in the candlestick chart below. Low was 7200 and ended the day at 7400. Similar candle last October for a low.
FTSE 100 Index, UK:UKX Advanced Chart - (FTSE UK) UK:UKX, FTSE 100 Index Stock Price - BigCharts.com (marketwatch.com)
Hammer Candlestick Patterns: A Trader’s Guide (dailyfx.com)Tell me about it. I bought some LGEN at 216p early Monday morning for the income portfolio, timing it just about perfectly. Was up 10% within 24h. Currently up 2.6% on the last CTY trade, which went lower and rebounded strongly along with the FTSE100.No idea where we are headed from here, but volatility is a good thing as we can leverage it to increase our holdings as you say. Regarding levels, I'm broadly HOLD for now on CTY, REDUCE above 420p, SELL above 440p, and BUY with new capital below 375p. I'm fully invested now in my SIPP but Mrs_S has a large chunk of cash still to deploy if things take a material turn for the worse.
Legal & General Group PLC, UK:LGEN Advanced Chart - (LON) UK:LGEN, Legal & General Group PLC Stock Price - BigCharts.com (marketwatch.com)
City of London Investment Trust PLC, UK:CTY Advanced Chart - (LON) UK:CTY, City of London Investment Trust PLC Stock Price - BigCharts.com (marketwatch.com)
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SELL ISF.L at 749.22coastline said:
BUY ISF.L at 744.30coastline said:Sold ISF.L at 765.40p today .Units sold 13,065 . Notional 100K is now £99,987.05p with the £12.95 fee.
DATE BUY/SELL ISF.L UNITS VALUE
18 JAN SELL 765.40 13065 £99,987.05
DATE BUY/SELL ISF.L UNITS VALUE
18 JAN SELL 765.40 13065 £99,987.05
14 MAR BUY 744.30 13432 £99,974.10
DATE BUY/SELL ISF.L UNITS VALUE
18 JAN SELL 765.40 13065 £99,987.05
14 MAR BUY 744.30 13432 £99,974.10
29 MAR DIV 4.28 13432 £100,549
31 MAR SELL 749.22 13432 £101,197.171 -
What's the rationale for today's sell?coastline said:
SELL ISF.L at 749.22coastline said:
BUY ISF.L at 744.30coastline said:Sold ISF.L at 765.40p today .Units sold 13,065 . Notional 100K is now £99,987.05p with the £12.95 fee.
DATE BUY/SELL ISF.L UNITS VALUE
18 JAN SELL 765.40 13065 £99,987.05
DATE BUY/SELL ISF.L UNITS VALUE
18 JAN SELL 765.40 13065 £99,987.05
14 MAR BUY 744.30 13432 £99,974.10
DATE BUY/SELL ISF.L UNITS VALUE
18 JAN SELL 765.40 13065 £99,987.05
14 MAR BUY 744.30 13432 £99,974.10
31 MAR SELL 749.22 13432 £100,622.28
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NedS said:NedS said:Updating the position for the drip feeding strategy for last day of month (Feb):28/02/2023 purchase 1260 shares at 425.5p (the mid point of the days trades) including 0.5% stamp duty and £11.95 trading fee (no £1 levy as less than £10k)Price = £5400.06CTY shares bought: 1260CTY Share Total: 3830Cash position: £59037.25 - £5400.06 = £53637.19Total Value: (3830 x 425.5p) + £53637.19 cash = £69993.84Bought back in today just below my target price:My position:Shares: 18,000 shares @ cost of £71,770.55 (18000 shares @ 396.67p + 0.5% Stamp Duty + £12.95 fees)Cash: £16.09Latest hypothetical drip feeding purchase on last day of month (31/3/2023):1300 shares at 414p including 0.5% stamp duty and £11.95 trading fee (no £1 levy as less than £10k)Price = £5420.86CTY shares bought: 1300CTY Share Total: 5130Cash position: £53637.19 - £5420.86 = £48216.30Total Value: (5130 x 414p) + £48216.30 cash = £69454.50My position:Shares: 18,000 shares at 414p = £74520Cash: £16.09
So I'm £5k up on a drip feeding strategy after 3 months.
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Part system and part me. SP 500 is heading overbought on stochastic and might be the end of this mini run in recent days. ? Can't ignore the US. We shall see ?NedS said:
What's the rationale for today's sell?coastline said:
SELL ISF.L at 749.22coastline said:
BUY ISF.L at 744.30coastline said:Sold ISF.L at 765.40p today .Units sold 13,065 . Notional 100K is now £99,987.05p with the £12.95 fee.
DATE BUY/SELL ISF.L UNITS VALUE
18 JAN SELL 765.40 13065 £99,987.05
DATE BUY/SELL ISF.L UNITS VALUE
18 JAN SELL 765.40 13065 £99,987.05
14 MAR BUY 744.30 13432 £99,974.10
DATE BUY/SELL ISF.L UNITS VALUE
18 JAN SELL 765.40 13065 £99,987.05
14 MAR BUY 744.30 13432 £99,974.10
31 MAR SELL 749.22 13432 £100,622.28
$SPX | SharpCharts | StockCharts.com
On fast stochastic and Williams %R set up the FTSE is overbought . That's not to say it can't remain overbought and go higher ? My favoured set up on IC site and Stockcharts has also hit that territory. My call so we see. It's been a tricky market with a flat wave followed by that mini banking crisis . I made a call and even a day later I would have been in at a much lower price. These calls are from my ISA but my SIPP calls have been way better as I was in at 720.p and also sold today. Still the original 13065 units at close today would have been 13065 x 748.9 = £97844. Ex Div to add shortly when it paid out.
FTSE 100 Index, UK:UKX Advanced Chart - (FTSE UK) UK:UKX, FTSE 100 Index Stock Price - BigCharts.com (marketwatch.com)
Indicators can be loaded onto these charts to show similar.
S&P 500 Chart (SP500) - ADVFN Charts
FTSE 100 Chart (UKX) - ADVFN Charts
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Might not be a bad call, we've had a decent bounce in the last two weeks and if the downward trend continues. The S&P500 is certainly about to meet resistance from the downward trend line from Aug 22 and Feb 23 highs at somewhere around 4150. All the commentary I'm reading suggests a fall of 15% from here might represent a decent entry point for new capital. Earnings are everything from here as clearly the market is currently prepared to brush off shocks, and no asset classes other than equities looks attractive at present and the money has to go somewhere.I'm sitting tight at the moment as CTY is ex-dividend on 27/4/23, and last time I started tapering out, the SP pushed higher and I lost some dividends too (although holding cash now yields 4% at no risk).1
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NedS said:NedS said:NedS said:Updating the position for the drip feeding strategy for last day of month (Feb):28/02/2023 purchase 1260 shares at 425.5p (the mid point of the days trades) including 0.5% stamp duty and £11.95 trading fee (no £1 levy as less than £10k)Price = £5400.06CTY shares bought: 1260CTY Share Total: 3830Cash position: £59037.25 - £5400.06 = £53637.19Total Value: (3830 x 425.5p) + £53637.19 cash = £69993.84Bought back in today just below my target price:My position:Shares: 18,000 shares @ cost of £71,770.55 (18000 shares @ 396.67p + 0.5% Stamp Duty + £12.95 fees)Cash: £16.09Latest hypothetical drip feeding purchase on last day of month (31/3/2023):1300 shares at 414p including 0.5% stamp duty and £11.95 trading fee (no £1 levy as less than £10k)Price = £5420.86CTY shares bought: 1300CTY Share Total: 5130Cash position: £53637.19 - £5420.86 = £48216.30Total Value: (5130 x 414p) + £48216.30 cash = £69454.50My position:Shares: 18,000 shares at 414p = £74520Cash: £16.09
So I'm £5k up on a drip feeding strategy after 3 months.No updates from me.My position:Shares: 18,000 shares at 422p = £75960Cash: £16.09Latest hypothetical drip feeding purchase on last day of month (30/4/2023):1270 shares at 422p (last closing price) including 0.5% stamp duty and £11.95 trading fee (no £1 levy as less than £10k)Price = £5398.15CTY shares bought: 1270CTY Share Total: 6400Cash position: £48,216.30 - £ 5,398.15 = £42,818.15Total Value: (6400 x 422p) + £42,818.15 cash = £69826.15
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BUY ISF.L at 756.30coastline said:
SELL ISF.L at 749.22coastline said:
BUY ISF.L at 744.30coastline said:Sold ISF.L at 765.40p today .Units sold 13,065 . Notional 100K is now £99,987.05p with the £12.95 fee.
DATE BUY/SELL ISF.L UNITS VALUE
18 JAN SELL 765.40 13065 £99,987.05
DATE BUY/SELL ISF.L UNITS VALUE
18 JAN SELL 765.40 13065 £99,987.05
14 MAR BUY 744.30 13432 £99,974.10
DATE BUY/SELL ISF.L UNITS VALUE
18 JAN SELL 765.40 13065 £99,987.05
14 MAR BUY 744.30 13432 £99,974.10
29 MAR DIV 4.28 13432 £100,549
31 MAR SELL 749.22 13432 £101,197.17
DATE BUY/SELL ISF.L UNITS VALUE
18 JAN SELL 765.40 13065 £99,987.05
14 MAR BUY 744.30 13432 £99,974.10
29 MAR DIV 4.28 13432 £100,549
31 MAR SELL 749.22 13432 £101,197.17
10 MAY BUY 756.30 13379 £101,184.22
15 JUNE DIV 10.40 13379 £102,575.631
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