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#FTSE #SANTA Christmas has a dreadful way of sneaking up, spending months approaching slowly and suddenly, like a predator switching from “stalking mode” to “attack”, it’s here. And as usual, a degree of panic ensues. As one of the lucky folk with only<\/b><\/u> 4 people to buy for (wife, daughter, grand-daughters), the realisation only one present has been purchased is causing some flutters. Friday shall be spent on the mainland, raiding a row of boutique shops which seem to be flourishing due to a change in road layout. My sole justification comes from my wife slowing down every time we drive the route, glancing at every shop window. While such behaviour is usually due to a bloke checking out his cars reflection, my wife is capable of taking inventory of window contents and discussing shoes \/ woollens \/ craft jewellery while we’re on the ferry.<\/p>\n
Heading to the mainland goes against the grain, when buying Christmas presents. But locally in our part of Argyll, it feels like the shops have conspired to avoid carrying any seasonal stock. Deciding to keep quiet on my conclusion as I knew my wife would ridicule me, she came to exactly the same conclusion when doing her usual “stocking fillers” run, giving me a list of stocking filler ‘junk’ to buy. Being told to use my initiative, when buying socks, may prove to be dangerous.<\/p>\n
Of course, while toiling away 5 miles across the sea at the shops, there’s a chance I shall miss an event which – if life were a Hollywood movie – is almost certain. The UK index is within sniffing distance of extending itself to join the elite ranks of stock markets with 5 figure index numbers. All kidding aside, once index’ get into the 5 figure zone, stop loss levels become very difficult, often to the point of becoming absurd. This tends make large surges upward an expensive bet to make, demanding strict logic to remain safe when chasing a trade.<\/p>\n
Currently, the UK market suggests movement above just 9860 points should trigger a little journey to an initial 9976 points. Visually, there is a suggestion of hesitation at such a level, the fact the target is above the markets previous all time high injects some hope an effort shall be made to achieve our secondary which calculates at 10,060 points. This would certainly justify a party popper or two, especially as a massive number of traders will open short positions expecting sharp reversals from their perceived “top” at the 10 thousand level. Such a series of open goals for the Spread Bet industry should be possible, because we can provide a third level target providing a long term attraction from 10,230 points, sufficiently above any logical Stop Loss positions to ensure any profit generated by the rise is returned to the industry which is never generous.<\/p>\n
Or so our theory goes. If triggered, our tightest stop is massive at 9750 points.<\/p>\n
If real trouble is planned, below 9640 has the potential of triggering reversals down to an initial 9531 points with our secondary, if broken, working out at 9424 points.<\/p>\n
For now, it looks like Santa has arrived and we suspect a visit to 10,060 should be expected before the end of the year.<\/p>\n
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