UK Stockmarket 2009 and beyond

sabretoothtigger

I saw that big drop on silver, its outside its uptrend so a fall from here in theory could be significant but saying that I was really expecting it to basically fakeout and reenter the channel and continue upwards basically, hence why I'd scale in.


Roughly looking at SP500 I see it as an inverse of that, basically leaving the recent trend of stairstepping down, its outside that pattern and might retrace some :think: {in each case I think the major trend is threatened}


The removed the confused shrugging smiley, dam

StevieJ

sabretoothtigger wrote: »

The removed the confused shrugging smiley, dam

That is probably one of the key icons, still loads of kissy ones for Valentines now :think:

tradetime

Yes S&P quite choppy, support was tested overnight by way of the futures, though I would have expected a test in the open market, as long as the 080 - 085 level holds the bull case is still good.

I notice the FTSE also held the 5200 level, it would not surprise me if this "correction" was over now, at least as far as price is concerned, but I'll let the market signal that.

tradetime

Selling into the close finally took us close to the 080 - 085 test. Worth noting that todays action produced a bear flag on the intraday charts which has almost triggered. A measured move off this would lead to the mid 040 area. A move above 1105 would likely negate this.

FOMC tomorrow and Geithner testifying on AIG, so lots of political showboating.

tradetime

FRES.L down hard again for those who are interested, no idea if it would be a good buy or not. May have a look at that one for an ISA. Does it pay a dividend?
I think someone mentioned HOC.L the other day, how do they compare?

cloud_dog

tradetime wrote: »

FRES.L down hard again for those who are interested, no idea if it would be a good buy or not. May have a look at that one for an ISA. Does it pay a dividend?
I think someone mentioned HOC.L the other day, how do they compare?

Both appear to pay small dividends.

From their most recent Jan highs both have dropped about 24%, although FRES appears to be dropping more in the last few days (percentage wise FRES drop has been about twice the HOC drop over the last couple/few days).

Both have dropped below their 200 SMA have just touched oversol (21 day RSI).

For HOC there's also the.... has it, or hasn't it broken its up-channel?

Maybe a day or so too early to tell.

Don't think HOC can be held in an ISA.

tradetime

Thanx cloud_dog

Don't think HOC can be held in an ISA.

Hmn that's interesting, wonder why. Will have to have a look, need some "stuff" to dump in my ISA, considering all options at the moment.

cloud_dog

tradetime wrote: »

Thanx cloud_dog

cloud_dog wrote:

Don't think HOC can be held in an ISA.

Hmn that's interesting, wonder why. Will have to have a look, need some "stuff" to dump in my ISA, considering all options at the moment.

Ooops, got it wrong... thought it was listed on AIM but it is listed on the main market so, yes it is ISAble.

tradetime

Thanx again cloud_dog, yes HOC.L is is listed on the main market afaik. Didn't know AIM was not ISA eligible, but that's ok, wouldn't get involved with AIM anyway, out of my scope of risk.

tradetime

Worth noting that todays action produced a bear flag on the intraday charts which has almost triggered. A measured move off this would lead to the mid 040 area.

Slowly breaking out of the flag to the downside, this needs to reverse or we're in trouble