Damn! I'm going to sound like all the others, giving trading signals after they've already happened. Well, sadly, that's how it is going to be this time. The reason was that I'd started writing on the use of IG Index's charting software, and one serious bug in it.
The signal was to short the FTSE. This I actually did at 5440, a few days ago, only to discover the faulty signal generated by the chart I was using. The SAR on a standard daily chart was to be triggered at about 5410; which has now happened. So, in this case I was lucky to get a few extra points, but did also have to suffer the FTSE climbing back up to 5500.
I write this as the FTSE is sitting at 5340 and itching to take another dive. As we are potentially looking down the same well as a month ago it perhaps isn't too late to short here.
Anyway, I'll write about the chart bug later.
19 Aug 2008
Trading Signal: short FTSE
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