FTSE & CannTrust too, 13/09/2019

#DAX #DOW #Nasdaq The markets appear to be ignoring UK Boris. Since the Falklands, one of the favourite toys in beleaguered UK PM’s playbook has been to go to war with someone. Our current PM, in conflict with Scotland, all the MP’s, and now, The Queen, has changed the game. He hasn’t actually declared a conflict yet, perhaps this being the reason for FTSE stability.

Firstly, CannTrust, a cannabis focussed share which is getting a fair bit of coverage in forums as a “cheap” share. Presently trading around 1.61 dollars, the price requires above 2 dollars to convince it has a reasonable future. Instead, more likely is weakness below 1.57 risking further reversal to an initial 1.04 dollars. Worse, if broken, bottom is at 0.23 dollars, this being a point we cannot calculate below. Despite the popularity of cannabis shares, we’d prefer advocating caution with this one as it’s liable to leave investors “walking funny” with the wrong sort of cannabis experience!

Our ever popular FTSE for FRIDAY worries us a little, because our bias is toward some upward travel. Given UK media coverage of the British PM, we appear to have a ‘Trump like’ character, only one without brain or charisma.  Of course, USA markets flourished under the tutelage of the US president, so perhaps we shall suffer similar fate in the UK. This being the case, now above just 7370 points calculates with an initial near term ambition of 7398 points. If exceeded, secondary is at 7424 points. However, beware any triggering movement which happens with an opening second spike upward on the FTSE. If triggered, the tightest stop is wide at 7285 points. We’ve a theory we’re working on which suggests tighter could be safe at 7328 points. We’re cautious with this one.

Allegedly, in the event the market makes it below 7328, we should anticipate reversal to an initial 7297 points. If broken, our secondary comes along at 7237 points. If triggered, stop can be 7364 points.

Have a good weekend, even though there isn’t a Grand Prix.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:22:12PM	BRENT	59.99	58.53	57.99		60.25	61.06	62.025		59.87	Success
10:35:35PM	GOLD	1499.82	1496	1489.5		1509	1507	1523.25		1494	Success
10:42:01PM	FTSE	7352	7301	7277		7361	7365	7381.5		7314	‘cess
10:44:25PM	FRANCE	5641.5	5590	5578		5641	5668	5688		5576	Success
10:47:23PM	GERMANY	12410.38	12338	12274		12426	12475	12525.25		12341	Success
10:48:59PM	US500	3008.92	2999	2992.5		3013	3021	3026		3006
10:50:56PM	DOW	27170	27105	27037		27240	27322	27388.5		27128	‘cess
10:52:54PM	NASDAQ	7916.89	7882	7860		7958	7966	7993.75		7901	Success
10:56:41PM	JAPAN	21827	21691	21629.5		21792	21883	21966.25		21697	‘cess

 

12/09/2019 FTSE Closed at 7344 points. Change of 0.08%. Total value traded through LSE was: £ 5,870,235,819 a change of -19.47%