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%

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