UK Stockmarket 2009 and beyond

tradetime

Market continues to act well, high y'day on the SPX recorded 1191.8 after an opening gap down, although as has been the norm lately it feels and acts like a grind higher, but nothing you could in good conscience act against yet. Although looking around the net, many in Blogland, continue to wage a "short" war against it.

Looking further afield, the Bond market may have completed a topping pattern here, which could supply a much needed rotation of new money into equities, however that will take time. 1175 - 1180 should now provide near term support, still targeting 1220 - 1230 as first target, and ultimately 1300 - 1330 later in the year.
Any deeper correction would initially target the mid 1160's and ultimately 1150.

US$ continues to hold within the rising channel 82.4 - 82.5 short term resistance with 80.8 - 80.9 as support. Gold still showing surprising strength 1140 - 1150 should be a big test of the current up move. Crude Oil, am at a loss for, seems to be doing its own thing keying off equities and the recovery story perhaps.
Would like to see FTSE above 5800 today it too appears a bit lack lustre

JonnyBravo

cloud_dog wrote: »

* MXP - It just has to come good in April (waiting on news)

Finally coming good? Signs of a slight move yesterday and a strong start to today.
News must be coming about the deeps in A&E soon, but I favour towards the end of C2 for definitive news.

sabretoothtigger

Looking further afield, the Bond market may have completed a topping pattern here, which could supply a much needed rotation of new money into equities,

Thats what I was refering to with weak Japanese Yen and possibly weak bonds which is related to currency strength I think. That would be bullish for stocks and surprise a few people


That ties into what bobbyj said, I think its better to own shares then bonds for this reason.
As bad as hsbc might look, it wouldnt be that bad an idea to buy around 640 betting on a recovery. The bad news is evident apparently
Why was PMK obviously flawed. They are still well funded now ?

I looked at the chart and its obviously terrible but might have put in a short term low now especially if their results arent as dire as the chart looks which seems to be the case.
Really it needs to go sideways and build a new history, its a bit of a melt down and I presume major holders have sold up

HSBC I would guess 660 to 700 today, its broken a short term down trend which limits its velocity downwards I think


I agree about starting from the top but we know the big companies arent always safe or slow even. AGK is up 56% in 4 months or 40% since feb.
CNE is up 47% since feb now (rupee stength)

bobbyj_2

PMK got competition off turquoise and obviously LSE stranglehold.

sabretoothtigger

Why couldnt they compete I wonder, wasnt that the point of deregulating. Maybe this makes LSE a better buy, they have a good div?


Tesco is a blue chip I like, not sure they are as cheap as before but if theres a growth story then its worth being interested still.
In theory all blue chips are relatively boring but not if they can consistently move up

Tesco has revealed for the first time that it ultimately expects to gain a 10% share of Britain's financial services market, making it roughly as big as Abbey and more than half the size of Barclays. The supermarket giant, which already sells insurance and some savings products, plans to launch mortgage deals by the end of this year, with a current account to follow in 2011, the Mail on Sunday reports.

Tesco also have overseas operations, the most of any uk retailer as far as I know. So growth on two fronts (possibly) and buffet owns them and even increased his holding slightly I think


tsco has res at 447 i think

turbobob

I'd read LSE's market share was under pressure too - http://www.ft.com/cms/s/0/051124c6-2620-11df-aff3-00144feabdc0.html

bobbyj_2

that's quite some news out at AYM, must be the biggest no brainer on the stockmarket this stock. Chart breakout now... no wonder.

cloud_dog

Now there's a company I know, been in (and out of them) a while back. THe news does look positive and they in an area which should benefit (iron etc).

cloud_dog

bobbyj wrote: »

that's quite some news out at AYM, must be the biggest no brainer on the stockmarket this stock. Chart breakout now... no wonder.

Doing some research last night.....

AYM 41% share in Labrador Mines is valued at approx £76.5m and AYM is valued at approx £56.5m...... hmmm, and this ignores their other interests.

cloud_dog

We haven't mentioned one of our old much discussed stocks for a while but.... Would any of you TA bods wish to review the chart for FRES?

Does it look like the SP may be about to complete a long inverse H&S starting from December 09? Or, is the time frame involved too large so as to invalidate it?