4th January 2012

Morning all,

Eyeing up a long this morning, with modest targets as i expect the FTSE to have another crack at 5700 as it did out of hours. 

Currently at 5680 so not a lot of upside from here. Am waititng for a drop running up to market open or from the bell to pounce.

08;36 - missed out on a nice move up there but wasn't confident enough to go for it. Hovering around the 5,700 mark, i don't have enough conviction to trade this yet. In the medium term it is closing into a position for a nice medium term short entry.

1 - Short @ 5698.3.  Stop @ 5723.

5710 is a critical level on the FTSE and i was hoping for a pullback from here but it looks bullish again now. If we hold 5710 today then the FTSE is going to go for 5900 i think.

Had two cracks at 5720 and failed. looking a bit weaker now, but then i would say that....

2 - Closed @ 5715.6 fed up of watching this drift slowly.

-£34.60.

Will look at Dow later, around 1:30PM

3 - FTSE retreated to 5690 ish. This was support early into the morning session so trying a quick long to nab a few points here.

Long @ 5696.1. Stake * 0.4.

Stop @ 5685.

12:00 - not much happening here, thought we might break out a few minutes ago but could not get over 5700. 

Stop adjusted @ 5690 so only £12 risk here.

Lunchtime, don't want to leave this while i am out so closed 1/2 @ 5701.3 for £5.20 profit.

Other 1/2 set stop loss at 5609.9 for overall break even.  Target @ 5718.0.

Stopped out, overall break even.
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Should be a tight range trading day on the DOW, don't anticipate any big moves either way. Perhaps a range of 12300-12400. Will wait for any extreme before trading looking for a value entry point either way.

Finding the market hard to predict at moment.

4 - long FTSE @ 5679.2. Only looking for 25 points or so, to challenge 5700 again.
Stake * 0.8.  Stop @ 5635

5 - looking dodgy but 12340 is good support for Dow according to my notes. Gone long at small stakes for a bounce.

Long Dow @ 12344, stake * 0.33.

6 - closed Dow @ 12375. £31 profit. FTSE trades still running but looking iffy.

Come onf FTSE, looking a bit stronger now, could go back to 5700 with a following wind. Not far off break even but was a poor entry point.

7 - taking of the FTSE off the Table @ 5686, for £14 ish profit. Had a tough day and want to reduce some risk. Other half running still,

8 - closed the rest at 5684 for £10 profit.  Not as much as i was hoping but i'm finding today tough going.

Having a rest for rest of day and try again tomorrow when refreshed. Small profit overall which is good.