FTSE at 3700 and no winners.

Realy

I was going to invest in natural fertilizers ltd.
But I heard their products were Sh*t.

mystic_trev

Dithering_Dad wrote: »

I've put my pension back in on the hope that the brokers overreact and drive the markets down today, recovering on Monday. As usual, I'll get the close of day prices. Got 75k riding.

Fingers crossed.

p.s. Will be selling and back into Cash on Monday/Tue eve if all goes well!

Will be in the Dog and Dart with my face in a beer glass if things go badly!

I thought this may have been a smart move by DD, but it's not looking so good at the moment! It's still (probably?) not a bad time to start investing at these prices. However, I remember 1974 when the Market dropped 75% from it's peak!:eek:

Generali

mystic_trev wrote: »

I thought this may have been a smart move by DD, but it's not looking so good at the moment! It's still (probably?) not a bad time to start investing at these prices. However, I remember 1974 when the Market dropped 75% from it's peak!:eek:

My feeling is that the market can easily hit 3000 from here as dividends get slashed.

dannyboycey

There are several money making machines of companies, whose share price is now ridiculously low considering how strong their business models are. There's a lot of uncertainty at the moment and prices are likely to fall some more before bottoming out, but these big players will not have bargain basement prices for long. If you can afford to lock your money away for a while, there is some serious money to be made at the moment. I wouldn't even consider day trading as things are personally as I don't have the time to dedicate to the research and setting limit orders and stop losses etc (which are essential unless you have money to burn).

Retail and banking have taken an absolute pounding of late but there are some very strong companies who will simply weather the storm and start to thrive again in a year or so.

dannyboycey

Generali wrote: »

My feeling is that the market can easily hit 3000 from here as dividends get slashed.

If we have a bottom calling contest, I would like to get in there with 2600. The markets are really fickle at present and any negative news seems to affect them. As soon as the media report that we are officially in recession, there will be another big dip - which is silly really as everyone and their dog already knows we are in one, but reporting it retrospectively will no doubt affect sentiment some more.

That said, I still think long term investing is a good bet as actually calling the bottom is almost impossible, and I say long term because getting in for a quick buck is like trying to catch a falling knife - you 'might' get lucky, but it will more than likely end in tears.

Realy

DD you can get off the toilet. just over .5% down now.:D

Dithering_Dad

lol, thanks realy

Actually, my pension is held in a wide range of geographical shares and so it's not terribly reliant on the performance of the FTSE100.

I'm only allowed to buy funds at the closing price, so I wouldn't have been able to capitalise on this morning's drop even if I had held my money in the cash fund. Looks as though the market will be pretty much back where it started from when it closes.

If anyone is interested, I'll be happy to keep everyone posted on how I did today and in future? I get my fund data when my online account is updated the next day, so will know how badly I did today when I log on tomorrow morning.

Quite a rollercoaster ride though

GDB2222

Generali wrote: »

My feeling is that the market can easily hit 3000 from here as dividends get slashed.

Institutions like insurance companies have to show a solvency margin. So, the solvency rules can force them to dump equities into a falling market. The last time this happened, Standard Life ended up having to dump most of their equities in 2003, and the FTSE 100 dropped to 3200. However, I was told they did a deal with Goldmans, as it would have been hard/impossible to sell around £50 bill of shares into the market. This time around, it is not clear whether there is anyone around in a position to buy the shares off them. It may be better for the authorities just to dump the solvency rules and keep fingers crossed. Otherwise, rules that are intended to ensure solvency could instead ensure insolvency. Strange and interesting times we live in.

sabretoothtigger

We're lucky the usa market is alot more optimistic then our own. They arent in recession, when is their next gdp figures. Last I heard they were 2% vs our -0.5%


Standard life has 3bn in cash and the FSA will not be demanding they sell any equities afaik. If anything they have stated they will be investing in bank open offers. Some speculate their dividend will drop to account for reduced profits, however they have not yet announced sales figures which come out this week. L&G reported 5% rise

neverdespairgirl

Dithering_Dad wrote: »

If anyone is interested, I'll be happy to keep everyone posted on how I did today and in future?

Yes please, if it's not too much hassle for you to do.