Friday, February 20, 2009

Not yet Capsulation?

London close: Footsie closes below 3,900

Footsie closed below 3,900 points for the first time since November after a weak start in the US sent the leading index even lower following its poor start.

Posted by peter_2008 @ 06:48 PM (843 views)
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2 thoughts on “Not yet Capsulation?

  • Well there is a thread below but that seemed to finish after lunch today.

    So I’d just like to take this opportunity to thank and congratulate techieman on his predictions last weekend.

    The FTSE behaved almost exactly as you said it would.

    Oh and can I come and work with you so you can teach me all this charting stuff ? I won’t even charge.

    Are you still a bit bearish next week and then seeing and upturn running through March and into early April before then the next big down leg ? Linking into some of S2R1’s timings ?

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  • str 2007 – i dont reallly know what to say. I had quite a strong feeling last w/end which was why i posted, as i said its the probabilities really, i didnt know it would behave that way. I dont want you to get carried away no-one least of all me is right all the time. My comments remain from the earlier thread – but these days its always best to have a fall back (i mean if something happens over the weekend we could see another of those vicious bear sqeezes come monday) so yes testing the Nov lows but perhaps with some up days between now and then. An upside break of the mid 4100s would look like something else though (at least in the short term).

    The IFs and BUTs are what you have to deal with all the time. In any case the video that was posted on http://www.cnbc.com/id/15840232?video=1040027857&play=1 on that thread i thought was very good – but he is braver than me – forecasting long term and getting it right is difficult.

    I think Flashman’s timeframes (hours maybe even minutes) are shorter than mine (days maybe a few weeks) and mine are shorter than the guy in the video although i can give longer term generalities, i am uncomfortable with giving longer term targets. We all have to be comfortable with our way of trading.

    I am getting more hesitant of doing this though – i first did it because i thought it would help me to commit myself to something (and not second guess myself). THE LAST thing i want is for people to start to rely on this though – its not meant as recomendations just opinions.

    In any case thanks for the compliment but really its just applying some pattern recognition (arbitrary and gained from experience) and some rules and money management, and have a great weekend……

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