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SantaClaus
10th October 2008, 09:20
We bounced off the 38.2 retracement and daily S2 pivot.
Next stop for FTSE will be at least 3800.
Could go down as far as 3660.

ratewhore
10th October 2008, 09:20
We bounced off the 38.2 retracement and daily S2 pivot.


WTF are you talking about?

:spank:

Bagpuss
10th October 2008, 09:23
I'm just waiting for GSK to fall bellow £10. Should see a 25% to 50% profit in a year or two. I'm not greedy.

SantaClaus
10th October 2008, 09:23
WTF are you talking about?

:spank:

Oh sorry, this is a boring IT forum.
You better get back to your job whilst it still exists :laugh

Bagpuss
10th October 2008, 09:24
Another camp sounding sock puppet!

sasguru
10th October 2008, 09:24
This has gone silly and doesn't reflect the fundamentals. Will be time to buy soon

Cyberman
10th October 2008, 09:26
I said that they should have cut the rate by much more... Vince Cable even said 2% . Hopefully these novices will act eventually. :eek

Bagpuss
10th October 2008, 09:32
and bring back those 100% mortgages

and allow more self cert mortgages

and not follow proper due dilligence



:laugh

HairyArsedBloke
10th October 2008, 09:37
We bounced off the 38.2 retracement and daily S2 pivot.
Next stop for FTSE will be at least 3800.
Could go down as far as 3660.

:spel S3

S1: 4221
S2: 4128
S3: 3890

Not a follower of the FTSE, but I think the 3800 is roughly right. It's around the 2003 lows.

sasguru
10th October 2008, 09:38
. Hopefully these novices will act eventually. :eek

Yes let's have Cybercretin and atW in charge - things will soon be sorted then :rolleyes:

ratewhore
10th October 2008, 09:42
Oh sorry, this is a boring IT forum.
You better get back to your job whilst it still exists :laugh

Plan A going swimmingly thank you and Plan B going well so stick that up your hoop!!

Cock...

SantaClaus
10th October 2008, 09:43
:spel S3

S1: 4221
S2: 4128
S3: 3890

Not a follower of the FTSE, but I think the 3800 is roughly right. It's around the 2003 lows.

Yeah, pivot points, were testing S3 at the moment.

Cyberman
10th October 2008, 09:48
Yes let's have Cybercretin and atW in charge - things will soon be sorted then :rolleyes:


The sad thing is that I certainly would not have done worse. These guys should have the best brains at their disposal, but have waited a year to do the right thing..... why not a year ago??? It is too late, and the rate cut now needs to be much bigger. :mad:

HairyArsedBloke
10th October 2008, 09:49
Yeah, pivot points, were testing S3 at the moment.

S4 is 3652 - that's your predicted low?

I don't like pivots myself.

SantaClaus
10th October 2008, 09:55
S4 is 3652 - that's your predicted low?

I don't like pivots myself.

My predicted low is the 1.382 fibonnaci extension from the last price swing.
Pivots are ok, but they need to be used in confluence with other things.

sasguru
10th October 2008, 09:55
S4 is 3652 - that's your predicted low?

I don't like pivots myself.

Bah - technical analysis.
Questionable at the best of times - when panic sets in completely useless.
The market is on a random walk right now.
You need to understand epistemology.

dude69
10th October 2008, 09:56
I'm just waiting for GSK to fall bellow £10. Should see a 25% to 50% profit in a year or two. I'm not greedy.

Plenty cheap ATM

BATS below 52-week lows, UU at 4-year lows, etc.

Moscow Mule
10th October 2008, 09:56
Bah - technical analysis.
Questionable at the best of times - when panic sets in completely useless.
The market is on a random walk right now.

OMG, I agree with Sas. Time for a stiff drink...

TimberWolf
10th October 2008, 09:57
The market is on a random walk right now.

:spel Emotional/flocking/herding/stampeding

Rantor
10th October 2008, 09:59
OMG, I agree with Sas. Time for a stiff drink...

I've got a cheque in my wallet to pay for a car today. I think I'll buy General Motors (http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/shares/2/15633/twelve_month.stm)instead at lunchtime.
:tongue

SantaClaus
10th October 2008, 10:00
OMG, I agree with Sas. Time for a stiff drink...

Believe me, the market is using technicals with the fundamentals giving the general direction.
Why else would the FTSE retrace to the 38.2 retracement of the last price swing which is also the monthly S2 pivot and daily S2 pivot?

sasguru
10th October 2008, 10:02
OMG, I agree with Sas. Time for a stiff drink...

Santa and HAB make me laugh. It's the result of a narrow technical training and lack of real education.

sasguru
10th October 2008, 10:03
Believe me, the market is using technicals with the fundamentals giving the general direction.
Why else would the FTSE retrace to the 38.2 retracement of the last price swing which is also the monthly S2 pivot and daily S2 pivot?

It's human nature to see patterns where there are none.
You need a course in probability theory.

BrilloPad
10th October 2008, 10:03
Is woolworths up today? Is it in the FTSE? Sir Alan buying must have helped?

HairyArsedBloke
10th October 2008, 10:03
Bah - technical analysis.
Questionable at the best of times - when panic sets in completely useless.
The market is on a random walk right now.
You need to understand epistemology.

I'm too busy rounding up the animals. Damn swans have escaped again.

Moscow Mule
10th October 2008, 10:03
Believe me, the market is using technicals with the fundamentals giving the general direction.
Why else would the FTSE retrace to the 38.2 retracement of the last price swing which is also the monthly S2 pivot and daily S2 pivot?

They haven't turned the ordering computers off yet then...

AlfredJPruffock
10th October 2008, 10:04
The sad thing is that I certainly would not have done worse. These guys should have the best brains at their disposal, but have waited a year to do the right thing..... why not a year ago??? It is too late, and the rate cut now needs to be much bigger. :mad:

Are you OK CyberMan - its not like you to be pessimistic ?

The thing is - it takes a wee while for rate cuts to have an effect. They couldnt do this a year ago because of concerns about inflation.

My advice is to transcend the mundane duality of Buying and Selling and take refuge in Heaven.

Chant - Hare Krishna - Hare Ramma - Hare Hare

Chant - Hare Hare FTSE index - Hare Ramma - London Bus- Hare Hare - Derivative Trading -Hare Hare Ladies Lavatory

SantaClaus
10th October 2008, 10:06
Is woolworths up today? Is it in the FTSE? Sir Alan buying must have helped?

Woolworths is up today Brillo. Up 6.45% at 3.3

Must be manic where you are today!

HairyArsedBloke
10th October 2008, 10:06
Santa and HAB make me laugh. It's the result of a narrow technical training and lack of real education.

Hardly use TA these days.

I'm more of an old school - "these look cheap, we're 'ave them" sort of guy. :laugh

sasguru
10th October 2008, 10:08
I'm too busy rounding up the animals. Damn swans have escaped again.


:laugh

Cyberman
10th October 2008, 10:08
Are you OK CyberMan - its not like you to be pessimistic ?

The thing is - it takes a wee while for rate cuts to have an effect. They couldnt do this a year ago because of concerns about inflation.

My advice is to transcend the mundane duality of Buying and Selling and take refuge in Heaven.

Chant - Hare Krishna - Hare Ramma - Hare Hare

Chant - Hare Hare FTSE index - Hare Ramma - London Bus- Hare Hare - Derivative Trading -Hare Hare Ladies Lavatory




A year ago inflation could be safely ignored because we were already well into the credit crunch, the USA had made drastic rate cuts in June 2007, and you are right, the effects of a cut take 6 months or so to take affect. All the more reason to cut a year ago by 1% IMO.:rolleyes:

BrilloPad
10th October 2008, 10:10
It's human nature to see patterns where there are none.

That Darren Brown book tricks of the mind was good on that.

ratewhore
10th October 2008, 10:20
Santa and HAB make me laugh. It's the result of a narrow technical training and lack of real education.

I have a picture in my mind of home based day traders sat at their desks in their shreddies.

Not nice...

:ind

Ravello
10th October 2008, 10:20
Oh sorry, this is a boring IT forum.
You better get back to your job whilst it still exists :laugh

So go post on a financial forum instead, and watch them laugh at your basic grasp of retracement and pivot points. Next thing you'll be wittering about the application of Bollinger Bands and Elliot's Wave Theory :yawn

The problem with technical analysis is not the various flaws and exceptions to the rules, but the halfwits who don't acknowledge the weaknesses and blindly apply them ad nauseum.

It's a self-fulfilling prophecy.. There will (almost) always be some sort of market reaction at each of the retracement points since so many applications have them coded in, does that actually tell you anything of value?

SantaClaus
10th October 2008, 10:42
So go post on a financial forum instead, and watch them laugh at your basic grasp of retracement and pivot points. Next thing you'll be wittering about the application of Bollinger Bands and Elliot's Wave Theory :yawn

The problem with technical analysis is not the various flaws and exceptions to the rules, but the halfwits who don't acknowledge the weaknesses and blindly apply them ad nauseum.

It's a self-fulfilling prophecy.. There will (almost) always be some sort of market reaction at each of the retracement points since so many applications have them coded in, does that actually tell you anything of value?

Funny that, cause I had a very profitable week from applying technical analysis.

Ravello
10th October 2008, 10:56
Funny that, cause I had a very profitable week from applying technical analysis.

I had a profitable week shorting using the 'dartboard theory'*... Your point is?

*I'd have made more but I had to throw again when it landed on a bank.

SantaClaus
10th October 2008, 12:19
I had a profitable week shorting using the 'dartboard theory'*... Your point is?

*I'd have made more but I had to throw again when it landed on a bank.

Ok Ravello, you have the last word. You're obviously far more intelligent than me :rolleyes:

ace00
10th October 2008, 12:24
Ok Ravello, you have the last word. You're obviously far more intelligent than me :rolleyes:

So it would seem. TA is simply market psychology applied, nothing to do with business fundamentals. I'd go further and say that the combination of TA, herd mentality and stupidity is responsible for the non-functional markets we see now. It's all your fault Santa Claus, you and your evil elves. :mad:

Bob Dalek
10th October 2008, 12:24
That Darren Brown book tricks of the mind was good on that.

Derren

Bagpuss
10th October 2008, 12:27
Bob, were you once Richard AF or whatever he was called? You seem to share a lot of his traits.

Bob Dalek
10th October 2008, 12:29
Bob, were you once Richard AF or whatever he was called? You seem to share a lot of his traits.

Bob's the name, though Dalek is, I admit, not my true surname: it's Davros.

Incidentally, you smell.

cupidstunt
10th October 2008, 12:38
Bob, were you once Richard AF or whatever he was called? You seem to share a lot of his traits.

Reminds me of DBA_Bloke

Quite funny some of the time

HairyArsedBloke
10th October 2008, 12:47
I had a profitable week shorting using the 'dartboard theory'

I've got an automated trading system somewhere here that does random entries into the market. Purely random timing and direction.

IT MAKES MONEY* :banana:

The trick is in the trade and cash management. The old saying "cut you losses short and let your profits run" is the key here.

* it is not in production. It was only written as demo.