Posts by "daveo"

@jacek, taking the datum point at 5510 low which I labelled W.2 or B my entry was 5670 and a choppy ride it be from there up. My target was 6540/50 127% ext ret level by which time had already removed 2 units so covered 3rd unit there. Then wait out the ret and re-enter 6580. My stop now sitting at b/e waiting to be trailed as we make new pivots. I think your support entry level is logical. If price return to my entry level I shall get flat and see what happens next. gl.

Yea Subz, you get my vote :-)

Alternate count could be ABCDE corrective up from the 1.1875 low but if true it must not exceed the 1.5143 high.

Although UK GDP broadly flat over the 6 month period manufacturing growth has been encouraging, very difficult to just turn on the tap again after the Thatcher bulldozers were sent in to crush the power of the unions in early 80's. Her answer to union power was to crush uk manufacturing---a greengrocer mentality one might think, yes her family were greengrocers. "City of London would be our golden egg", said she ---hahaha, spinning money around in circles does nothing whatsoever for mankind. Service industry is largely a parasite.

Once the austerity cuts to the public sector parasite start to kick in and bite I see a period of negative growth lasting about 3 years or more. We shall see the occasional blip on the radar but the path will be downward until the private sector can start to soak up unemployment and spare capacity. The major downside risk is the banks who no longer serve the community so investment in small companies who are the key to any recovery will be almost non existent. In addition there is still the threat of another bank crisis and there is risk of anarchy in opposition to the very necessary planned austerity measures.

I spose auctions today will effect $

Thing is as I see it:- Only lots of trades and screen time improves trade management skills and trade management is the key to profitability. Fading requires those skills.