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Getting up early to review the charts before FTSE opens can be simply too much bother for some traders but I consider it essential. As I do this I make notes and here are today’s:

Date: Monday 26 November 2007

Location: Naithonburi Beach Resort, Phuket

FTSE’s prior close: 6262.1

200 day MA: c.6420

Major Trendlines: c.6000 – 6500

Notes: FTSE has bounced well off Thursday’s (22nd November) low at 6026.9 – see chart below – and it looks like it is time for a pullback (possible five-wave form developing) so I plan to go short today. The big question at this time is whether this rally is going to build a head of steam into the Christmas period. Elliott Wave patterns suggest two main alternatives. Either a feeble wave 4 rally which could stagger into Christmas, or new impulsive action which would give the bulls some real festive cheer. Either way I expect more upside but FTSE may well want to re-test 6026.9 first – it is this re-test that sets the scene for the trade today.

Right, it is now time for breakfast on the beach. Damn hot it is to – I said it was tough! I have around six hours until FTSE opens and the fun begins, I have to try not to be too miserable in this island paradise up to that point.

As this is titled “a day in the life” I suppose I ought to mention the sunbathing, wave jumping, and lunch...

Actually I will mention lunch.

I ordered king prawns and they were around 12” long! Pretty impressive prawns. And freshly barbequed. It doesn’t hurt that they cost around £6 – I would have paid ten times that in the UK, although no restaurant in the UK can compete with a Thai beach for ambience.

Anyway at 2:50pm (7:50am in the frozen wastes) I was back “on station” at my PC expecting an early rally and looking to sell as I think it is time for a pullback.