UK Stockmarket 2009 and beyond

worldtraveller

tradetime wrote: »

As if all that wasn't enough we have a 3 day weekend coming up. Would be careful with shorts for the rest of this week at least.

Don't you just hate that! Always a sense of not being in control and I've got caught out in the past with a big swing on a Friday evening in the U.S. and having to wait until Tuesday to do anything, by which time the situation can have changed radically again.

Luckily (?) the U.S. markets will also be closed on Monday for Memorial Day.

Just hope nothing major happens in Asia!

JamesU

worldtraveller wrote: »

Just hope nothing major happens in Asia!

Worth watching:)

http://www.trustnet.com/Factsheets/Factsheet.aspx?fundCode=K6F90&univ=E&typeCode=FB4P1&pagetype=performance&unitType=unit

tradetime

worldtraveller wrote: »

Just hope nothing major happens in Asia!

I will be predominantly out of the market over the weekend, so they can do their worst.

StevieJ

JamesU wrote: »

Worth watching:)

http://www.trustnet.com/Factsheets/Factsheet.aspx?fundCode=K6F90&univ=E&typeCode=FB4P1&pagetype=performance&unitType=unit

Agreed, could be a nice bounce there.

tonygee_3

Yep,nice bounce,the long weekend may allow traders to calm down a bit creating a bigger bounce next week;)

turbobob

Closed KAZ. Gold is breaking out, I see the spot price has gone up by about $9 in the last few hours, although now starting to pull back. Is this fear of something? Or just another risky asset rallying today?

tradetime

turbobob wrote: »

Closed KAZ. Gold is breaking out, I see the spot price has gone up by about $9 in the last few hours, although now starting to pull back. Is this fear of something? Or just another risky asset rallying today?

Gold imo is quite well supported in the current envoironment, lots of uncertainty, politicians messing about in all the markets of the world, changing the rules all over the shop, the ever present fear of the huge fiscal deficits which threaten only to get larger.

The only thing that worries me with gold is the endless stream of spam in my inbox, either urging me to buy gold or face financial oblivion, or others desperate to buy from me any gold I may not want. The fact that I have not seen a talking head on the media tell me I shouldn't be buying gold. Also someone, in Dubai I think, installing a vending machine for gold.
However, given the global fiscal backdrop, I believe as a contra-indication this may only serve to warn of a possible short term sharp correction that would present a great buying opportunity at worst case, and I don't really see any sign of that.

For the broad market, I continue to see any weakness as a buying opportunity for longer term swing or position traders. That said this correction could have a little while to play out before the next leg up begins. It is not uncommon to see "holiday reversals" going into long weekends, I have mentioned them before, like everything in the market they don't occur all the time, but with reasonable frequency. The logic is that as the holiday approaches, traders riding the dominant trend begin to exit ahead of the weekend, as in this case if the dominant trend into the holiday week has been down, then traders must buy to cover shorts, the reversal will last as long as they need to exit their positions. Had the trend been up then we would expect weakness approaching the holiday weekend. The primary pre-holiday trend usually resumes after the holiday in the absence of any market moving news to the contrary

sabretoothtigger

Great post, I tried to click thanks twice and hit the quote button :laugh:


Great timing on Kaz, also CNE saw similar spring back. I agree with closing it though I didnt rush to sell cne shares as Im hoping for some more of that irrational exuberance . It was near lines of support in both cases


Gold in a similar way was due to rise also it was near the previous closing highs of Nov.
http://img13.imageshack.us/img13/9036/img12748947780877478904.gif

Soros got gold right I think. Its a bubble because its inverse to the dollar or more recently the euro. How easily they reverse would then be related to how secure the gold price is


Currencies are acting negative but for the moment its not causing much trouble. I really dont feel euro has broken any negative trend



CEY a bit like POG on a discount allegedly due to being in Egypt and Russia respectively

http://www.telegraph.co.uk/finance/markets/questor/7768155/Centamin-is-now-targeting-the-FTSE-250.html


National grid chart looks a bit like gsk or hsbc. Nice yield and a utility but I think the argument involved for or against is complicated ?

Seems reasonably near a low
http://img522.imageshack.us/img522/5751/bigchart.gif




EOD view is euro possible support, positive snp 2 days negative 5 day




Uploaded with ImageShack.us

wombat42_2

tradetime - i am 100% gold stocks (Investec Global Gold fund) apart from cash. I feel pretty relaxed with leaving it alone for a couple of years. You may be fed up of hearing the hype but the average Joe Public still knows nothing about gold investment. Until your taxi driver starts recommending gold to you, the bubble will not be about to burst and i think it is at least 2 years away.

There are several reasons for golds rise.

cloud_dog

sabretoothtigger wrote: »

CEY a bit like POG on a discount allegedly due to being in Egypt and Russia respectively

http://www.telegraph.co.uk/finance/markets/questor/7768155/Centamin-is-now-targeting-the-FTSE-250.html

Picked up more CEY recently (137.5p) and POG (1110p); both of these two are my biggest holdings.

CEY has been a dream over the years.... not just hte SP but the way the company is run, its updates, setting achievable commitments and delivering on them. Excellent company.