Was feeling good about having taken my put option at 91 pts on Friday, seeing it at about 75 before the open. Now am not so sure! Oh well, one that got away.
Missed the big leg down but grabbed it at the 30-min chart entry.
TRADE
SELL @ 6032.5
FTSE Daily
Been watching it creep back up but have now managed to move my stop down to 6030 so safe for this first trade of the week!
Now decidedly below all 3 daily moving averages. A break below 6000 and I think we're staring at 5800, the mid-April low, then 5700 and 5500... but surely those are for another day!
2 Jun 2008
Trading Day
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TRADE
ReplyDeleteSELL @ 6015.3
1-min signal
other stop down to 6020
gonna follow this one down.
TRADE
ReplyDeleteBUY @ 6001 to close
Profit = 14.3 pts
using 1-min chart
TRADE
ReplyDeleteSELL @ 6004.3
1min chart
TRADE
ReplyDeleteBUY @ 5997.5 to close
Profit = 6.8 pts
wasn't looking good so closed half my positions.
Well, that last trade sucked!
ReplyDeleteNever mind. Am now sitting on a 50 pts proit from the 30-min trade. So this already gets classed as a 'good trade'. Stop down to 6005 and have put in place a trailing 25 pts stop - min profit 27.5 pts. Can go watch the rain now!
Just as a micro-example of the article I wrote this morning. In the last 5 minutes crude oil popped up 50 cents, lifting the FTSE 20 points simultaneously. The natural resources sectors seem to be the only things stopping the FTSE already being at 5500.
ReplyDeleteHave abandoned the 1-min chart for today. Looking at 3-min and 30-min.
ReplyDeleteTRADE
BUY @ 5992.5 to close
Profit = 6032.5 - 5992.5 = 40 pts
61 pts bagged so far today.
TRADE
BUY @ 5993
3-min chart
Bit risky but sterling getting hammered today so perhaps a bit of relief for the exporters. Will close quickly if wrong.
TRADE
ReplyDeleteSELL @ 6006.8 to close
Profit = 6006.8 - 5993 = 13.8 pts
3-min chart
75 pts profit so far today.
TRADE
SELL @ 6004.3
3-min chart
TRADE
ReplyDeleteBUY @ 5989 to close
Profit = 15.3 pts
over 90 pts so far.
One for the Far Out Trades taken a few minutes earlier.
FTSE to finish UP @ 9.1 pts!
This could drift around here for the next 2 hours so going to take a break and back later.
Woken up now!
ReplyDeleteTRADE
SELL @ 6006
using 3-min chart
TRADE
FTSE UP
SELL @ 5.2
LOSS = 5.2 - 9.1 = -3.9 pts
TRADE
ReplyDeleteBUY @ 6004.5 to close
Profit = 1.5 pts
Not much of a profit and left this too late. Oil (and gold to a small extent) has come to the FTSE's rescue once again with a $3 swing up. Didn't trust it initially, but then, so much for my ideas!
TRADE
BUY @ 6008
FTSE Daily
TRADE
SELL @ 6014.8
Profit = 6.8 pts
Pretty good day.
Sorry but internet been unreliable so last few posts been late. Also the blog's server didn't respond but luckily it kept the post texts.
Sometimes best to concentrate on what's important!
Closing Comments
ReplyDeletehave just been perusing the articles on today's downbeat reports on the UK economy. Just as I've said, inflation due to rising raw materials is different to inflation due to rising economic activity, profits and wages. To use the same monetarist sledgehammer in both cases just shows how naive the whole theory is - and despite the media, remember that monetarism is not a law of nature but, in my jaundiced opinion, a mechanism to keep people placidly poor. Fiscal measures can target problems directly and swiftly but our stuffed suits seem to prefer to be seen as intransigent rather than flexible. Is it right to assume that central bankers are so much wiser than their commercial brothers? The FTSE Bank sector index looks like a long suicide note.
good-night