UK Stockmarket 2009 and beyond

tradetime

FTSE 5500 is certainly not unreasonable, it has been one of the strongest Indices, if not the strongest of the developed economies, I suspect that may have something to do with it being heavily weighted in Natural resource stocks?

US still feeling heavy, another very slow day and yet again no great influx of new money as it holds over 1100. I guess, "if you build it, they will come." is fading here
Still corrections have been equally scarce, quite challenging, one more pop to the upside would give me the satisfaction of entering my expected price area, 8 points short so far, but it was close enough for me to close all swing longs now. Time for me to sit and watch as far as swing trades go.
Dollar still very erratic, yet another test of the 75 "base" frankly that could go either way imho 76 is the level to watch there on the upside as a trigger.

sabretoothtigger

5555 sounds fair enough . Right now we're at the previous 2008 Feb low, support turned resistance








Barc has failed at its 320 support I think so its weak. However the brakes should come on before it falls below 260, I would expect it to find traction for a turn around starting here



Somewhere else I post with small time trader people trying to guess current market direction
http://wallstreet1928.ning.com/




Why is it so negative today, jobs werent that bad The SP was supposed to bounce back up on a gap fill at 1094 but instead it fell through the ice. Negative till we get above that point again


1085 is fridays negative trendline if it keeps dropping

ses6jwg

Yo guys, any thoughts on UK Mail?

Just doing a bit of research, looks promising?

- Obviously they are winning a fair few business contracts with the whole RM debacle - potential to increase also.

- 5% dividend yield.

- Directors buying-

- PE Ratio 19.47

- Rising turnover and profits.

Any thoughts?

Current SP - £3.33, 54m shares in issue and a market cap of £181m

tradetime

Why is it so negative today, jobs werent that bad The SP was supposed to bounce back up on a gap fill at 1094 but instead it fell through the ice. Negative till we get above that point again

Well you know my feeling on this, most day to day news has little effect on the market, other than perhaps cause a bit of noise at the event ie the immediate spike. Afterwards the market sets about it's business regardless of the news, and folks like you and I are not privy to what that business is, so we have to watch for signs of their intention. Today was just a day with more sellers than buyers, market has "felt a bit heavy" for a few days now, no new money came in despite holding 1100 for a couple of days, Dollar Index rallied overnight, may have spooked some of the leveraged pair traders, maybe there's some bad news to come.

Yes 1085 is the next reasonable support, as the gap didn't hold, 1095 may now provide a bit of overhead, if 1085 is breached 1060 is likely the next stop.

Looks like DELL just posted a miss on earnings.

[Deleted User]

re-test of 5170 ish coming up imo, then onward and upward. Nice and healthy

cloud_dog

Interesting article on negative RSI divergance NYSE:

http://www.safehaven.com/article-15055.htm

Not sure how much influence or how significant an idicator the NYSE is in rlation to other indexes.

tradetime

Haven't had a chance to read the article yet, but I'm assuming it refers to the NYSE Composite Index, which is basically an index of all stocks listed on the NYSE, some 2000+ stocks, including a couple of hundred large cap foreign International stocks that are dual listed. I would consider that index to be a fairly good indicator of the health of the US stock market. RSI has been diverging on a number of US indices and also on the German DAX to name another. Divergences can clear with time, but they are a warning light, for want of another description.

sabretoothtigger

GKP returns a good drilling report, opens up 20% then tons of selling to end down 4% on fridays close. Perfect market sense, classic sell on the news I guess

I remember it being 70 or 80 last time we had turbulence in the price so the trend is still up

http://www.iii.co.uk/articles/articledisplay.jsp?section=Markets&article_id=10061526

http://ashraflaidi.com/articles/oil-weakness-may-intensify.asp







The overall (western) market trend is still down

Seems to be maintaining a long term bear market rally in everything except maybe commodities





Anyone heard of solo oil ?

tradetime

This week will be a "throw away week" in the US due to the holiday, volume will be very light, mostly retail speculators diving in and out, being played by the specialists and market makers.
Other than that, market remains resilient, trend intact.

sabretoothtigger

Other than that, market remains resilient, trend intact.

Yes, probably best to wait till next week for any conclusions.

http://wallstreet1928.ning.com/ wrote:

what oil needs is an external shock to the system, like an iranian/israeli crisis!! long term very bullsih on weekly but short term very bearish!! it just depends on your investment horizon

Not sure why oil is weak, also smaller cap companies seem to show a little more weakness recently I think not sure if anyone else noticed that because I dont trade small caps really but the more volatile stocks seem more so recently anyhow.



Sp500 has today bounced back ever since breaching the 5 day moving average and pulling back. Ftse was dragged back up




Barclays touched 300 and came back up, which is all in line but theres still more weakness it seems to me. Im not sure if it'll breach 300 but should come close again and 260 is the real end of line for a turn around medium term


Hardy lost its 250 mark and suffered appropriately, real weakness now and coming back to its year lows which seem overly negative to me as they are still in progress with Reliance.
Speculators in this share are real flaky but its normal to overshoot

The bottom line value in this share must its relationship with a world giant and long term skills it provides and they have no debt
http://en.wikipedia.org/wiki/Reliance_Industries

Next volume price support comes in below 200



Fres looks like it be 10 pounds soon, stupidly high performance but thats the nature of the beast I guess. The traditional ratio to gold as a monetary reserve is 16:1 and the current ratio is above 60 I think so the upside on these must be extreme to say the least?
This is presuming dollars are no longer main world currency and no other mediums take over. It is an extreme case but possible at some point imo, hopefully its not certain quite yet



GKP down some more today I see?



Stay frosty! :snow_laug