Wednesday, May 5, 2010

FTSE 250 Takes Lead from US Markets

With the heavy losses experienced in U.S. markets there was a hangover effect in play for early morning trading in the FTSE 250 (ETF: MIDD). Like US Markets the 50-day MA was to provide some anchor support, helped in part from a weak congestion zone from mid-March. Whether such support can hold will in part depend on what U.S. markets do when they open at 2:30pm GMT.

Alternative support lurks at 962.50, but the oversell of the past week will likely see a bounce before a challenge on the lows (currently at 990) is made.

Zignals Chart Image

Certainly the trading strategy summary signals were skewed heavily to stop exits, but there were two profit targets hit for FTSE Elm with Brooks MacDonald Group (BRK) and a 48% gain, plus UK Golden Brown with Tikit Group (TIK) and a 43% gain.

There are 186 trading strategies available in the Zignals MarketPlace.

Latest Trading Signals

ASX Oak

Short Confirmation Entry for CCL (Sydney) at AU$11.35
Short Unacted Entry for WPL (Sydney) at AU$45.91 (EoD): Entry signal given, but exited position on same stock too recently (4) days ago.

ASX Price x 20-day MA

Long Confirmation Entry for BXB (Sydney) at AU$7.35
Long Confirmation Entry for OSH (Sydney) at AU$5.81

BSE Zignals

Long Exit at Trailing Stop for HALC (Mumbai) at INR166.6

Developing a Strategy

Long Exit at Stop for IP (NYSE) at $25.75

ETFs Oak

Short Entry for QLD (NYSE) at $68.39
Short Entry for SSO (NYSE) at $43.31

Frankfurt High Winners

Long Confirmation Entry for MEOF (Frankfurt) at €45.19
Long Confirmation Entry for VOSF (Frankfurt) at €79.46
Long Exit at Stop for DTE (Frankfurt) at €9.05

FTSE Elm

Long Exit at Trailing Stop for TBK (London) at 513p
Long Exit at Profit Target for BRK (London) at 740p

India Oak

Short Confirmation Entry for BHEL (Mumbai) at INR2489.0
Short Confirmation Entry for PGRID (Mumbai) at INR109.9
Short Entry for GACM (Mumbai) at INR121.2

Indian Golden Brown

Long Exit at Trailing Stop for JLVY (Mumbai) at INR1141.7
Long Exit at Trailing Stop for GRSM (Mumbai) at INR2617.4
Long Exit at Trailing Stop for ACC (Mumbai) at INR874.4

Indian High Winners

New Long Target and Stop for BOB (Mumbai) at INR713.7 (EoD): Target INR786.5, Stop INR679.3
New Long Target and Stop for HPCL (Mumbai) at INR329.4 (EoD): Target INR364.0, Stop INR314.4
Long Exit at Trailing Stop for GRSM (Mumbai) at INR2654.7
Long Exit at Trailing Stop for RNRL (Mumbai) at INR67.27

MA Crossover

Long Exit at Trailing Stop for INTC (Nasdaq) at $22.37

Relative Canada

Long Confirmation Entry for BR.UN (Toronto) at $16.97

Relative UK

Long Exit at Stop for ACHL (London) at 47p

Relative US Dividend

Long Entry for BP (NYSE) at $50.60

Short Trender

New Short Target and Stop for IP (NYSE) at $25.65 (EoD): Target $21.09, Stop $26.80
Short Unacted Entry for IBM (NYSE) at $129.1 (EoD): Entry signal given, but exited position on same stock too recently (6) days ago.
Short Entry for INTC (Nasdaq) at $22.97

Tri-Indicator Aussie

Long Entry for CSL (Sydney) at AU$32.97

UK Golden Brown

New Long Target and Stop for MAI (London) at 163p (EoD): Target 183p, Stop 149p
Long Exit at Profit Target for TIK (London) at 185p

UK High Winners

Long Exit at Trailing Stop for MCRO (London) at 516p
Long Exit at Stop for RWS (London) at 297p

US High Winners

Long Exit at Stop for IP (NYSE) at $25.19

US Oak

Short Confirmation Entry for IBM (NYSE) at $129.1
Short Entry for INTC (Nasdaq) at $22.97

US Strength

Long Exit at Stop for IP (NYSE) at $25.00

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