UK Stockmarket 2009 and beyond

worldtraveller

Looks like the Footse is likely to be sub 5K again on Monday.

Personally, although I've been doing some drip feeding back in to equities from cash (taken out of equities back in March/April) over the past couple of weeks, I've now decided to back off on that and wait until the Footsie drops to around 4.6K, which is fairly likely at some point in the short/medium term now, IMHO, and is my next start to buy back in level.

Shatners_Bassoon

atsoc15 wrote: »

whats the deal wth desire and rockhopper shares, as sure fire a bet as everyone is making out?

Absolutely, a massive find on RKH's first well which has now proven the basin.

Desire still cheap at a quid and expect ten bagger for anything you put in now over the next 12-18 months.

sabretoothtigger

worldtraveller wrote: »

Looks like the Footse is likely to be sub 5K again on Monday.

I've now decided to back off on that and wait until the Footsie drops to around 4.6K

Ftse closed on friday at 5126 and the futures price after usa close shows 5069 which is low but not terrible yet
The main thing was the whipsaw from a bounce to extreme negativity with the market closing almost at its lowest point

I did expect this but again I underestimated just how much, the market always overshoots and is not rational
Anyhow this is a sign of a bear market to me. Nasty reversals like a house of cards, the market is estimating factors which are (increasingly) not certain or completely wrong even (depending on your politics)




Ftse 5069 futures price. 4987 downside target or 4952 is support. upside 5191


Every point of doom and gloom over the last 9 months has come back to this 5000 level roughly. I agree with you buying some stocks you like but I also agree 4600 should be seen at some point.

The euro failed its support level, I think it'll recover eventually but in the same way it kept bouncing before it failed I expect the same with this continued return to 5000.
I think the way to predict momentum strength or failure is the pace of the sharp reversals. As market mood swings occur ever quicker, the real conclusion is closer

as sure fire a bet as everyone is making out

That'd be the opposite of an open market really. Oil dropped 3 dollars in price on friday or about 4%
Transocean has a deepsea rig suspended in india. Kazakhstan has called into question present practices. Is falklands involved deepsea in their drilling




Fridays action appears to confirm the negative trend since April so its a failed breakout of that general decline.



I was short from 1090 here but closed far too early ( I did not expect the whole weeks range to happen in 1 day :eek:).
I dont think this bounce is intact but the chart says maybe it is, generally the chart or plan quality far exceeds my abilities to trade it



http://www.youtube.com/watch?v=vJ04JifD4eE

[IMG]http://img696.imageshack.us/img696/8585/28655569.png[/IMG]







.

cloud_dog

Basically, one more blow off before the bull snorts its last.

http://www.resourceinvestor.com/News/2010/6/Pages/Is-This-the-Ending-Phase.aspx

turbobob

At time of writing S&P 500 e-mini futures are down around 10 points @ 1055 and Euro weakness is continuing. Probably going to be a pretty volatile day when the markets open.

tonygee_3

After selling out last week just bought a couple back in
'no pain ..no gain';)

turbobob

cloud_dog wrote: »

Interesting action going on with FRES today (currently up 23p / 2.5% at 943p)........ So is this a top blow-off or is it breaking upwards?

Decisions, decisions......:huh:

Any decision cloud dog? FRES again near all time highs and one of the few bluechip winners today. Above average volume too. More takeover talk? I know gold prices are supportive of PM stocks currently, and I don't think this is going to change in the immediate future. Presumably the pound taking a beating (like it has today) would also support the SP of precious metal stocks. Clearly its outperforming in a very weak market, but I guess if the takeover rumours turn out to be false then it could fall quite rapidly.



The bottom two indicators show relative strength against the FTSE All Share index and the FTSE Mining sector - its outperforming streak picked up early May.

cloud_dog

Turbo....... Who knows

A lot of PM miners have down wel today (and similarly didn't do so well yesterday).

FRES is in an up channel and could still drop to 860p - 850p and remain in its uptrend.

I think PM's will likely take their lead from gold (as an indicator) and with that spiking to a new high today who knows what the next step is.

Wrt FRES, it keeps baning its head against the 940p - 950p range, the question is..... Will it break up or fail at the last? I still hold a few from my original purchase (111p) so, I will wait and see.

POG (not PoG) is forming a very nice flag/pennant - need to see where that goes.



CEY made a nice break above its previous trading high today. Also, according to livecharts.co.uk CEY has made it in to the FTSE250. I think the official announcement is 19th June (although thats a Saturday so not sure on the exact date).


I think the bottom line is that PM / PM miners did well today probably on the back of continuing sovereign debt fears etc but the market in PM miners has been exceedingly volatile recently.

worldtraveller

An African gold mining company and an Indian energy company are set to become the newest members of the FTSE 100, adding to the growing weight of emerging markets-based commodities companies in the blue-chip index.

The reshuffle will take place on June 21 but is based on last night's closing prices. Those prices suggest that African Barrick Gold and Essar Energy will replace Thomas Cook and the London Stock Exchange, subject to confirmation by the FTSE committee later today.

The two new entrants both floated in the past three months and are spin-offs of much larger groups. Canada's Barrick Gold and India's Essar Group control about three-quarters of their shares, respectively.

Essar Energy - ultimately controlled by India's Ruia family - joins several FTSE 100 natural resources companies that are majority-owned by billionaire families based in emerging markets. Zinc miner Vedanta is controlled by India's Agarwal family, copper miner Antofagasta by Chile's Luksic family, and Fresnillo by Mexico's Bailleres family.

The gold price hit an all-time high yesterday above $1,240 an ounce, lifting African Barrick's shares as the FTSE 100 deadline neared.

African Barrick houses four Tanzanian gold projects that were owned by Barrick Gold, the Toronto-listed company that is the world's biggest gold miner. Barrick executives told the Financial Times that it spun off its African unit so that it would grow faster and attract a higher valuation after gaining recognition in a London market that is more attuned to Africa.

Petropavlovsk, the gold miner known formerly as Peter Hambro Mining, once again missed FTSE 100 entry by a narrow margin.

Essar Energy's entry to the index caps a tumultuous listing for the power and oil business spun off from the Essar group.

Market turbulence triggered by worries over European sovereign debt forced Essar into a last-minute price cut. The shares fell 7.2 per cent on their first day of trading.

But by raising £1.2bn, the company achieved London's biggest stock market listing since the start of the financial crisis.

FT

tradetime

Market trying to hammer out a base here and it is possible the bottom is in, 1105 - 1115 important source of possible resistance with support being found so far in the low 1040's. I still have a projection to 1019 downside risk which would be negated on a move above the potential resistance level. Short term traders however likely remain sellers of rallies until the market proves otherwise. Global credit uncertainty has probably sent all but the bravest private investors back under the bed. Meanwhile out of the limelight the economy continues to chug along