MAGNETIC Trading Report - 29 November 2013

The FTSE is opening flat this morning and low volatility remains. The 6680 - 6626 range remains key for direction [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 27 November 2013

6626 is support this morning and I expect a bounce higher this morning if this holds just after the 8am open. We also closed on the lows so the market makers will most likely push price higher this morning to attract more sellers [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 26 November 2013

No real change on yesterday's analysis. 6712 and 6680 are major levels to confirm the next move in this market [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 22 November 2013

We have a double close on the FTSE at 6681 which means the FTSE closed at the same level over the course of 2 days. This now an area of interest for the market. The market should have little difficulty rising to 6760 whilst above this level [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 21 November 2013

Yesterday's afternoon session presented a spike above 6700 which I call a stop flush. This was an obvious place for the retail market to place stops for potential shorts [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 20 November 2013

The FTSE is still positive on the short term and medium term and targets at least 6765 whilst we trade above 6592 however sustained momentum above 6700 is a concern [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 19 November 2013

The FTSE finally managed to put in an end of day close above its Moving average 10 yesterday. This indicates more bull for the index if the FTSE can maintain trade above 6700 just after the open  [Signup For Mark's Trading Plan] 

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The problem is the people whose money they manage on the whole have no knowledge of the stock market and get neurotic if the market goes up and the money manager misses out on a gain and they don't get that upset if the money manager actually loses money when the market drops. Their no.1 fear is missing out if the market goes up without them and causes their friends to get rich while they are left behind. Here is the reality – if your advisor thought the market was topping out and called his clients and convinced them to sell their positions they would most likely get extremely angry with him if the market then went higher. They would probably move their money elsewhere. But if the market drops a typical client may get upset, but he wouldn't blame his advisor for that since everyone else is losing money too. He'll blame the market and the broker will tell his client to "stick with it" and most people will do just that. When you delve deeper the reality is most people would rather lose money by holding than face the possibility of making a decision to sell and being wrong especially when everyone on TV is telling them to keep holding on. The brokers and city firms make money by being in control of your money. Clients pressure them to behave in a way that results in them analysing the market and making trading decisions like the majority. To be successful in the market you need to act differently to the majority and the so called professionals are not really rewarded for learning about the stock market and what it takes to be a winning trader, but instead are rewarded for the client relationship. Subconsciously over time the money managers/brokers become a mirror of their clients. Its another big reason why the majority of funds out there do not beat the market. The ones who do develop an in depth knowledge of the market get the results! So the next time you start feeling the ''city boys'' have the edge remember the 5% rule applies to them as well.

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MAGNETIC Trading Report - 18 November 2013

We have no clear direction on the FTSE this morning. The trend is up but last week I mentioned we need to break up through the moving average 10 (MA 10) on the daily cash charts [Signup For Mark's Trading Plan]

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MAGNETIC Trading Report - 15 November 2013

The FTSE is gapping up again today. We should see 6670 at some stage today as its expiry. Expiry will take place between 10.10am - 10.20am [Signup For Mark's Trading Plan]

MAGNETIC Trading Report - 14 November 2013

The FTSE sold off hard yesterday and I have expressed my concerns over the MA10 . This is now standing at 6723 [Signup For Mark's Trading Plan]

MAGNETIC Trading Report - 13 November 2013

A nice dividend trade last night for the end of the year. We actually got a full 100% retracement from the drop at 4.30pm however I am not greedy on these trades and I am happy with booking 50% of the retracement.

Yesterday was a down day but clearly the day was dominated by the bulls. Even though we closed slightly down for the day I treat the day as a false down day. i.e the morning session sold off quickly and then the bulls dominated all day [Signup For Mark's Trading Plan]

MAGNETIC Trading Report - 12 November 2013

The FTSE held support yesterday (6700) but the index is struggling at its MA 10 (daily chart) which lies at 6740. The FTSE should not really be struggling here if we are to see a big push up to 6860. Nevertheless my analysis remains the same [Signup For Mark's Trading Plan]

MAGNETIC Trading Report - 11 October 2013

We have a big divi tomorrow standing just over 11 points! Refer to appendix 2 of the service manual for info on this [Signup For Mark's Trading Plan]

MAGNETIC Trading Report - 8 November 2013

We broke through 6700 yesterday which activated a downside target at 6650. We have seen this out of hours but not during normal trading hours.

MAGNETIC Trading Report - 7 November 2013

6700 Is key support for the FTSE right now and we are short term bullish whilst this holds.

MAGNETIC Trading Report - 6 November 2013

This week we have been bearish as a result of the investors sentiment index I mentioned on Monday. Yesterday profit taking came in and broke the previous low at 6715. We have subsequently rallied. This type of price action is always a concern as the market has stopped all the longs out (6715) and fulfilled market function [Signup For Mark's Trading Plan]

MAGNETIC Trading Report - 5 November 2013

The FTSE has remained stable over night and is opening strong yet again. As I mentioned in yesterdays report there is an imbalance between bear and bulls right now.  Upside is limited. [Signup For Mark's Trading Plan]

MAGNETIC Trading Report - 4 November 2013

The FTSE did see profit taking going into last part of the week which we had positioned for and Friday (1st of the month) turned about to be a non buying day which we had also discussed. We could see a brief buy in this morning from delayed fund injections however I don't expect this to last. The market is struggling to gain any momentum at current levels [Signup For Mark's Trading Plan]

MAGNETIC Trading Report - 1 November 2013

Its the first trading day of a new month. Going long on this day has a good success rate however on the occasions where this set does fail a large proportion have been on a Friday i.e its less likely for funds to commit new monies at the end of the week and instead wait for the following Monday [Signup For Mark's Trading Plan]