British American Tobacco

[dmedin]

@MercuryI was put in mind of going short after reading an article about Juul in the U.S. being banned from selling sweet flavoured vapes.  Pretty soon they might only be able to sell 'tobacco flavoured' vapes, which teenagers and young people will hate. 

[Mercury]

OK I get the reasoning and it will most likely trade lower at some point but my challenge is twofold: firstly that the bulk of the bearish move is over; secondly the current retrace is complex, which is more difficult to trade out of.  Therefore the risk/reward is not a good as other stocks, say J&J or Boeing, which you are also looking at.  Same reasoning as for GE if you recall.  If you are going to take the risk to Short a stock better to go for the bigger rewards.  Catch a wave 3 down and you can ride it a long way in trend follower mode.

[phillo]

as it did between 2012 & 2016 , I can see this one just bouncing around between blue & red

[dmedin]

Will be interesting to watch on Wednesday.

[dmedin]

Quote

BAT says U.S vaping slowdown will lead to slower growth in e – cig business

 

What do they have left?  Vaping was the only thing that could possibly save them.  Perhaps a move into cannabis.  But that's dying on its **** too.

[dmedin]

Maybe not such bad news after all?

[dmedin]

This is a very bullish engulfing candle with a shaved bottom

[dmedin]

🤔🐮

[dmedin]

Up, up and away! 🥳

[dmedin]

How is this possible, though?  E-cigs sales are slowing down and being threatened by regulation, cannabis hasn't taken off yet, and far fewer people are smoking.  Except maybe in India and China?

Edited December 2, 2019 by dmedin

[Caseynotes]

45 minutes ago, dmedin said:

How is this possible, though?  E-cigs sales are slowing down and being threatened by regulation, cannabis hasn't taken off yet, and far fewer people are smoking.  Except maybe in India and China?

looks like it's getting a push from Yahoo Finance;

[CharlotteIG]

 

23 hours ago, dmedin said:

Up, up and away! 🥳

I'm sure you've seen it this morning but it's now heading down. This is on the hourly time frame though so could recover for the day. Do you think this will recover or continue down?

[dmedin]

@CharlotteIG It's interesting, some of the FTSE 100 and 250 stocks seem rather volatile just now.  Probably best to day trade them and close out positions before 16:30

[CharlotteIG]

1 minute ago, dmedin said:

@CharlotteIG It's interesting, some of the FTSE 100 and 250 stocks seem rather volatile just now.  Probably best to day trade them and close out positions before 16:30

If they are too volatile and you hold the FTSE outside of 08:00-16:30 the spread will widen so that's a good strategy. Further to this, you can't watch the market through the night. I guess you could have your stops and limits in place to secure you but it's whatever works with your strategy. 

For FTSE all GMT: 

07.00-08.00 08.00-16.30 16.30-21.00 21.00-01.00 01.00-07.00

2 1 2 4 3

[dmedin]

It has filled in a gap (closed the window ) - will it now go back up?  The entire FTSE 100 tanked yesterday so it's probably just a case of 'rising tide lifts all boats' and GBP looks set to go up which means FTSE 100 goes back down again.  Who the heck knows - might as well toss a coin

[Caseynotes]

30 minutes ago, dmedin said:

It has filled in a gap (closed the window ) - will it now go back up?  The entire FTSE 100 tanked yesterday so it's probably just a case of 'rising tide lifts all boats' and GBP looks set to go up which means FTSE 100 goes back down again.  Who the heck knows - might as well toss a coin

Try to think in terms of where price has come from and to where it might be heading to.

On the daily there is this rough range where price looks to be on a downward leg. On the 1 hour price looked to fill that gap but ... 

So you might expect price to try to lift from here or try to force it's way to continue down, the next few hourly candles should reveal what those in control are planning to do. Once that becomes clear then look to enter, the stop loss then becomes self evident (either side of the blue line depending on long or short) and the target also becomes self evident (prior high or low depending on long or short). 

[dmedin]

🤔

 

[dmedin]

🤔

[Caseynotes]

[Caseynotes]

@dmedin, see;

[dmedin]

@Caseynotes Not sure how to trade FTSE 100 stocks right now.  Could just be the influence of the GBP shenanigans.

[Caseynotes]

5 minutes ago, dmedin said:

@Caseynotes Not sure how to trade FTSE 100 stocks right now.  Could just be the influence of the GBP shenanigans.

true but worth keeping an eye on to see it's a true breakout. had good news on monday see pic.

[dmedin]

Completely adrift at the moment ... nothing seems to be working, TA is utterly hopeless (including those pivot points, as they swing up and down without rhyme or reason) and the markets driven entirely by big institutions manipulating things ... once again beginning to think retail clients are stupid for taking part in this.  I certainly am.

[Caseynotes]

17 minutes ago, dmedin said:

Completely adrift at the moment ... nothing seems to be working, TA is utterly hopeless (including those pivot points, as they swing up and down without rhyme or reason) and the markets driven entirely by big institutions manipulating things ... once again beginning to think retail clients are stupid for taking part in this.  I certainly am.

what 🙃?  The daily pivot points are calculated on yesterday's OHL so plenty rhyme and reason, check the chart below.

The 8am bar this morning went straight up to tag R2, the next H1 bar was a doji after retesting R1 and higher above R2, then price went on to test R3 and pulled back on the last bar of the day. 

After yesterday's pause bar on the break peeps were looking for continuation this morning and they got it.

[dmedin]

🤔😕

[Caseynotes]

9 hours ago, dmedin said:

🤔😕

It's not sure what to do having just completed that fill of the gap from Oct 2018. May look to test support or may just drive on through.

Weekly chart;

[dmedin]

Looks like it's taking off and has closed an old wndow, but I still don't feel inclined to go long.  It just doesn't feel right🤔

Edited January 6, 2020 by dmedin

[Caseynotes]

👀😮

[Caseynotes]

Oh well, there goes the Lambo;

 

[dmedin]

Yes, BATS is doing rather well.  Looking for stocks that are doing better than FTSE 100 index and not just bobbing up and down based on GBP gyrations.