Mark Austin FTSE Trade Summary - 18th Oct 2010

Dear all

 

Today we bought the FTSE to be up Binary at a price of 21.  Half profits were taken at 47 and remainder at 60.

 

This morning I outlined a large gap on the price charts at 5717 (see this mornings email attached for reference).  I also had a POM signal (system) close to this level. Combined with support at 5660 this offered a good opportunity to go long. See attached chart.

 

I used the binary in case the market went on a stop hunting mission below 5660.

 

At this stage I am still looking for a correction to at least 5550-5600 and a short term top maybe in at 5770. 

 

To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com

 

Mark

Mark Austin FTSE Service Update - 18th Oct 2010

Good morning

The FTSE will open lower today after a volatile Friday session.

The markets are still over bought and in need of a correction however the bullish sentiment remains strong with continued talks of the FED pumping liquidity into the market. Retail investors are reading this in newspapers but what they are not aware of is this information will already be priced into the market.  Remember the markets price information in around 6 months ahead of us reading it. A key point to remember if you readily make trading decisions based on articles you read in the press.

Mark Austin FTSE Service Update - 15th Oct 2010

Good morning

Today is expiry on the FTSE.  These days can be pivotal with big moves created as traders take on fresh positions in the market. The expiry takes place between 10-10.30 am.

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Trade Summary - 15th Oct 2010

Good evening

 

Yesterday I sold the FTSE at 5768 as per my pre market email attached below for reference.

 

75% of the profits were taken at 5744 and the remaining 25% is still running with a stop at 5744. Target 5680 -5700.

 

My reasons for the trade

 

1) Yesterday we opened higher than the previous days close at 5661 and this level was not filled.  Today we yet again gapped up higher than Wednesday's close at 5747.  After a strong extended rally its rare that a second closing gap is not filled on an intra day basis.

 

2) My target for the rally was 5750 as mentioned earlier this week

 

3) Given its expiry tomorrow I was expecting a weak consolidating session

 

4) POM - System signal  - http://www.markaustintrading.com/pomseminar.html

 

This mornings email for reference

 

Good morning

Yesterday the market rallied as expected and left a nice short term sell target at 5675.

From a technical front 5820 presents very strong resistance and should be sold on the first touch if we manage to get that far.  Given the overbought conditions the market is unlikely to have the strength to penetrate this area first time round.

Today's Trading Opportunities

We have expiry tomorrow and after a strong session yesterday we may consolidate today.

I have a short term sell target at 5741. Current market is 5765. If we open 30 points higher than 5741 I will issue a sell SMS.

 

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Service Update - 14th Oct 2010

Good morning

Yesterday the market rallied as expected and left a nice short term sell target at 5675.

From a technical front 5820 presents very strong resistance and should be sold on the first touch if we manage to get that far.  Given the overbought conditions the market is unlikely to have the strength to penetrate this area first time round.

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Service Update - 13th Oct 2010

 Good morning

The FTSE maintained it position above 5585 yesterday so the outlook remain bullish.  For those wondering the relevance of 5585, this is where the MA 20 lies on the daily cash charts (non futures).  I am expecting one more leg up for this rally (circa 5750) which may present a good longer term short position.

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Service Update - 12th Oct 2010

Good morning

Yesterday's FTSE action was very muted.  As mentioned yesterday, traders are in a dilemma. They are aware FED intervention will help support the markets in the short term however buying stocks at these levels after an extended rally is risky.  A healthy pull back is necessary from current levels if we are to make a convincing move above 5833 (the highs this year).  If we continue higher without the pull back then the market risks a flash crash scenario.

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com