UK Stockmarket 2009 and beyond

sabretoothtigger

I think POG is at more of a top then Fres or Hoc. Check gold and silver to see I guess


Euro dollar has stayed above the lows 4 times now which might be saying something though generally I think this equity rally will be short lived, some bond money has moved on better usa economic figures (^tnx is up). We have some usa jobs figures today

European Retail Sales m/m dropped 1.2%, 1% below forecast. so certainly seems that theme is set to continue some more

cloud_dog

sabretoothtigger wrote: »

I think POG is at more of a top then Fres or Hoc. Check gold and silver to see I guess

Am also in a bit of a dillema regarding CEY as they are likely to be included in the FTSE250 (cut off 9th June, announced 19th June) which would indicate likely buying by trackers etc.

The consideration has to be that since they have been officially recognised as London being their primary listing and they have such a large market cap (relative to FTSE250) they are virtually guaranteed to be included therefore, have the trackers etc alsready bought in (perhaps the reason for the recent spike to 160p)???

Nice artlce from BOAML comparing the relative merrits of CEY and ABG post FTSE inclusions (FTSE100 for ABG)

sabretoothtigger

Take it as a bonus rather a reason to hold. They do prebuy some I think as it helps improve their efficiency ratings otherwise they are playing catchup after the fact.
I dont think as much money tracks the 250 but allshare I guess would equal ftse100 tracker amounts so I guess it adds up

No wonder your in a dilemma as the price is right at the 5 day average. Had I bought last week on a swing trade I would certainly take profits but I dont intend to sell the small amount I have at this price. I see it as closer to the top then the bottom and its exceeded the previous nov high


Also a take over bid has been mentioned as feasible ,so lots of froth clouding things no doubt



US stock futures trim gains following lackluster jobs data http://nn.nf/1ccce

cloud_dog

sabretoothtigger wrote: »

No wonder your in a dilemma as the price is right at the 5 day average. Had I bought last week on a swing trade I would certainly take profits but I dont intend to sell the small amount I have at this price. I see it as closer to the top then the bottom and its exceeded the previous nov high

STT, thanks for the info but.... Am a little confussed by the highlighted bit? If you think it is nearer the top than bottom and considering other market / POG things wouldn't you be considering selling / reducing???

Thanks

sabretoothtigger

If I held that much yea, I dont hold much of these miners unfortunately. Not worth trading for me.

Top or bottom is just part of the price channel and overall I still its going up even if it falls this week. So I was just saying I think gains for the moment are capped generally, like with Tep or Rex I sold that but it hasnt really fallen but on the other hand I lost no money from any further gains.

It never does exactly as I expect, pog could just cling to the ceiling but Im not expecting it to break upwards right now. The odds favour the downside in my view

Depends if you can use the money elsewhere and all sorts of personal factors, generally I think its good to cycle money through different shares if possible

fullstop

Spam reported HH

sabretoothtigger

I was looking at the CEY chart again yesterday and it appears to have a pattern since May start beyond what I had already drawn. So I think you were right to point it out
Long story short, there does appear to be pressure to the upside I estimate though obviously some are selling, it is still bullish.
Really it needs to have the volume examined properly, yahoo really doesnt cut it but it appears to have most volume on the rise anyhow.


Also some might call this an inverse head and shoulders pattern, personally I dont rate the accuracy or my accuracy on that kind of thing but theres a pattern of some sort there.

I was going to call it a scissors or triangle formation, typically the price range compresses until it breaks out. It may be cut in half or I think more likely increase in size, either way Egypt is next to Palestine and Israel so this must carry a fair amount of risk I guess so only for the brave and well positioned perhaps




The gold price and the cey chart look very similar to me. Gold is falling but is due to change up soon I think, only problem is Ive no idea of the topside. I looked at dollar but I think its not looking weak. Euro has attempted to break support about 5 times and failed so..

bobbyj_2

NPE the next Rockhopper then? Looks a hot one. A fair old oil strike and more importantly 'light oil'.

turbobob

Ouch, US employment numbers well under forecasts - http://preview.bloomberg.com/news/2010-06-04/payrolls-in-u-s-climb-by-431-000-less-than-estimated-jobless-rate-9-7-.html Also more sovereign debt trouble, with Hungary now a focus.

Mad day, the FTSE has so far had a 160 point range, and it lost around 90 points in 10 minutes following the release of the non farm payroll numbers.

sabretoothtigger

I was expecting this, unfortunately I just closed my short snp and that was probably too early? I always do that

One positive area might be CHK (up 20%) or natural gas companies. If you look at UNG, its not been this price since March and I think its a relatively justified move, breaking the previous downtrend. Im uncertain how chk will do in a wider negative market though, it could be positive for Shell at some point also - they met res at 1800

Euro has failed that support and inversely dollar is beyond the previous top pricing to a new year high. Gold is reacting to an uptrend line (1198) as hoped

Possible bp downside is 424