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Long at 7424.80

index:ukx

#42

7350 hopefully today jack. And gives a short call. Your right 're analysis. Just have a niggling feeling in volatility , 7100 not finished with yet. But that’s just gut feeling


#43

Didn’t take profit earlier 're the 25 point drop. Breakeven. Got greedy. Looking for A 100-200 point short hold.


#44

Some you win, other trades need more patience. They’ll come.

Indeed, short UKX again seems the logical position to take. Likely to reverse some later. No advice intended to anyone naturally, but I won’t risk it as if logic had much to do with markets & indices, most of us would be richer. Sentiment seems a bigger driver yet again. DOW looks strong & that tends to lift UK. Bar minor dips, I can’t rule out this rise continuing into next week. All major global indices seem in bullish mode.

IMO, last night’s by-election result probably also makes another disruptive early GE in UK less likely. I think Tories won’t risk it. I could be wrong.

Best of luck if you’ve gone short again. May need a bit of patience, but bound to be profitable later. Only timeframe in doubt.


#45

Not short yet. Waiting that intra divergence and volume. Forming now though .

New Quantitative easing in play. Feds cutting rates again? Somebody else mentioned it elsewhere. When you consider that, the bull isn’t so strong as seems last few days


#46

These things in the past were great support. But after a decade bull run , would you blame funds for going bearish to protect cash now? See it as a sign of weakness.

One thing I always look for prior to a short is a very bullish day. Usually the first sign. At high of a retrace obviously. Different when low


#47

Short kicked in 7330. But can’t have big expectation. Close it prior to 9pm


#48

Armageddon,

Valid deduction. OTOH, we could see slightly longer bullish momentum later on with lower summer volumes if certain macro-factors play favourably, for eg. a FED rates cut. If UKX sees consolidation, any subsequent close significantly over 7350 could see this bull run a while longer. Note that UKX saw stronger resistance at YTD highs of circa 7520+ only late April.

But like I say, you are by far the best judge of your own trading decisions, risk-appetite, et al. Always trade as you see fit. Ditto for anyone. I’ve not changed my mind about not adding to or hedging the one UKX long I’ve left. But my choice is meaningless to others. - GL.


#49

Well agree with you. Conjecture is one thing as are targets. But as you know, price at the next level determines the next move.


#50

Long at 7363.30. Re-added a 2nd UKX long for another bounce later. Reasons same: low Sterling, many dollar-earners in UKX. This long also far enough away from one existing one as in thread title.

Won’t add again unless well below 7300 seen.


#51

Closed at 7376.30 for quick 13 points due to existing UKX long to ride any further upside.

Also, the ECB’s Draghi speaks about 9.15am, which can be influential enough to increase volatility & either drive up or upset markets. This way no regrets. No more adds for now.


#52

Long at 7356.30. Re-added a 2nd UKX position for reasons as earlier.


#53

Closed at 7368.80. Booked 12.5 points more as further dips again soon won’t surprise me & I still have one UKX long for higher targets.


#54

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#55

Long at 7353.30. A 2nd UKX re-add for reasons as before.


#56

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#57

Closed at 7373.80. Booked a very quick 20+ points in case of more volatility later.

Busy day away from desk in spells, but would keep re-adding on any sharp reversals.


#58

Long at 7361.80. Reasons as before. Will keep re-adding UKX longs in this thread on any dips until the original mistimed entry taken out.

In perspective, already booked well over 300 profit points in this thread alone.


#59

Closed 7386.80. Booked 25 points due to expected further volatility.

One UKX long left as in thread title.


#60

Closed at 7447.30. Booked 23.5+ points on original & last UKX position in this thread. A badly mistimed entry, but plenty of dividend points also collected since.

Over 350 points booked in all in this thread alone. Could’ve been better, but I can’t really complain. Will now bide my time until we see a retrace before going long again. - Edit: typo.