[INTRA-DAY ACTION]
A flat day for the FTSE belies the strength in some of the stocks I'm watching this afternoon. RBS and MARS are really the only ones down today from a list of 15.
RBS is hovering around 225, 2 pence off the significant figure of 223. MARS is currently at 200, in a support/resistance range. A break south to 195 represents a signal to short the stock.
The rest look pretty good. SOLA is bang on a support resistance line and is up 4.5% today as the oil price has risen again. Our short cover price was 525 and it dropped as low as 493, where it is currently finding support as represented by a previous double top resistance. I would like to say this is a good entry point with stops at 490.
If I were in FXPO I would take profits at 470 pending a retrace soon. SIA is up nicely today at 3.5%, with CNE, WSM and TLW also up by change. My call on NTG was bad, currently at 2 down days on the trot representing a probbale 180 day with further incentives to short.
BG. looking good off ema support at 1240.
Elsewhere in the markets, my brother is making an absolute fortune shorting the housebuilders. I gotta get my CFD on!
Bit of an update here on RBS. It's broken 223, the new absolute key prices are 221.5 and 219.5. Long at 221.5 with stops at 219.25 and short sub 219.25 with stops at 221.5. This is the intra-day chart.
Update 5 minutes later:
RBS making new lows at 218.25, fight or flight for anyone in this at the moment! Technically a short signal at 219.24 with stops at 221.5 but we'll see what happens. Actually I'd lock in the profits lol at 219 right now, just in case it bounces.
Update close:
Spent most of the day checking out BDEV because my bro is in there. It was down 40% at one point, then recovered to down 13% (with a 50% intra-day swing!). This stock has been insane all day, and the graph speaks for itself. Interestingly, the rise began 10 minutes before the RNS was officially released, meaning the market already knew the contents. Basically it was an "everything is ok, trust us!" message that included a significant amount of debt. I suggested a stop at 60 at the bottom to lock it in.
BDEV tailed off after the rally, and I reckon it will continue to drop - but who knows what to make of these stocks in this climate.
RBS got shot down to 208 at worst and closed around 216, still under my ema.
RBS is hovering around 225, 2 pence off the significant figure of 223. MARS is currently at 200, in a support/resistance range. A break south to 195 represents a signal to short the stock.
The rest look pretty good. SOLA is bang on a support resistance line and is up 4.5% today as the oil price has risen again. Our short cover price was 525 and it dropped as low as 493, where it is currently finding support as represented by a previous double top resistance. I would like to say this is a good entry point with stops at 490.
If I were in FXPO I would take profits at 470 pending a retrace soon. SIA is up nicely today at 3.5%, with CNE, WSM and TLW also up by change. My call on NTG was bad, currently at 2 down days on the trot representing a probbale 180 day with further incentives to short.
BG. looking good off ema support at 1240.
Elsewhere in the markets, my brother is making an absolute fortune shorting the housebuilders. I gotta get my CFD on!
Bit of an update here on RBS. It's broken 223, the new absolute key prices are 221.5 and 219.5. Long at 221.5 with stops at 219.25 and short sub 219.25 with stops at 221.5. This is the intra-day chart.
Update 5 minutes later:
RBS making new lows at 218.25, fight or flight for anyone in this at the moment! Technically a short signal at 219.24 with stops at 221.5 but we'll see what happens. Actually I'd lock in the profits lol at 219 right now, just in case it bounces.
Update close:
Spent most of the day checking out BDEV because my bro is in there. It was down 40% at one point, then recovered to down 13% (with a 50% intra-day swing!). This stock has been insane all day, and the graph speaks for itself. Interestingly, the rise began 10 minutes before the RNS was officially released, meaning the market already knew the contents. Basically it was an "everything is ok, trust us!" message that included a significant amount of debt. I suggested a stop at 60 at the bottom to lock it in.
BDEV tailed off after the rally, and I reckon it will continue to drop - but who knows what to make of these stocks in this climate.RBS got shot down to 208 at worst and closed around 216, still under my ema.
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