UK Stockmarket 2009 and beyond

StevieJ

lvader wrote: »

I sold my Apple, ABF and Lloyds shares last week to buy more BP on Friday. It's a pity I didn't sell Barclays and a few others as well. Doesn't BP go ex dividend tomorrow? if so wouldn't we normally see a drop although with the big drops already I guess normal might not apply.

Yes divi day, when I saw Shell tanking I thought I had the wrong day

tradetime

tonygee wrote: »

Hope you ALL took your profits;)
BP holding up better than most so far today

Yes, very nice move down so far, though given how risky the short side has been over the last year I caught very little of it . Still not to worry. US Indices testing the 50 day moving average currently which may bring some dip buyers in. Realistically we should be looking at further downside with an initial target of 1150 on SPX. The worry for the short side is that there are buyers waiting to act, and likely a lot of them. Traders currently however have little choice but to go with the flow and short the bounce, or stand aside and let this shake out. Hopefully the panic over the Eurozone shambles can keep buyers sidelined for now.

FTSE well ahead, already clear of the 50 day, and the Jan highs, looks like 5330 - 5350 area will be next test.

US$ comfortably took out the 83 level and is very close to the 84 target now.

BP a bit of a pain was looking for a bit more downside

tonygee_3

tradetime wrote: »

BP a bit of a pain was looking for a bit more downside

Some folk are never happy:D
UP 2% on top of DIV

Think this 'bounce' will reverse later as Pre-Election nerves kick in

tonygee_3

tonygee wrote: »

BP,well I expect a bit of tension short term,but longer,the big guys will be wanting them back.If I WAS holding SHELL I would switch to BP.

RDSB about 7%-10% WORSE off than BP:D

worldtraveller

IMHO I still don't see any real sustained upside to the FTSE 100 until we get to about 5100-5200, which would correlate with the 10% correction I expected around this time.

tradetime

tonygee wrote: »

Some folk are never happy:D
UP 2% on top of DIV

LOL, that'll be me.
US$ index target 84 hit and exceeded, SPX closing in on the Jan highs of 1150

turbobob

worldtraveller wrote: »

IMHO I still don't see any real sustained upside to the FTSE 100 until we get to about 5100-5200, which would correlate with the 10% correction I expected around this time.

That might come soon. Has hit 5304 today (so far). Riots in Greece not exactly settling nerves.

tradetime

Selling SSO June 37 puts to open

turbobob

tradetime wrote: »

Selling SSO June 37 puts to open

So that means you think it's a short term dip, is that right? BTW did you see this story trade?

"Some members of Congress made risky bets with their own money that U.S. stocks or bonds would fall during the financial crisis, a Wall Street Journal analysis of congressional disclosures shows.

Senators have criticized Goldman Sachs Group Inc. for profiting from the housing collapse. And Congress is considering legislation to curb Wall Street risk-taking, including the use of financial instruments known as derivatives and of leverage, or methods that amplify returns."

http://online.wsj.com/article/SB10001424052748703871904575216491495135642.html

tradetime

So that means you think it's a short term dip, is that right? BTW did you see this story trade?

Yes pretty much, volatility has risen quite a bit giving options premiums a nice lift, S&P would have to break below 1100 for those to be exercised, so a fair cushion.
Your link doesn't work, but I suspect I have seen the story it refers to