UK Stockmarket 2009 and beyond

tradetime

SPY no longer closely matches Sp500 ~ ^GSPC for some reason.
First time Ive seen a big gap in the two numbers

Not quite sure what you are referring to STT
http://finance.yahoo.com/q/ta?s=SPY&t=3m&l=on&z=l&q=l&p=&a=&c=^GSPC

As for price SPX 1003 SPY 100.48, seems pretty close and pretty normal for the time I have been watching them.

sabretoothtigger

Actually think I was looking at a futures figure and got the numbers slightly wrong there, my bad I guess the yahoo SPY quote is actually delayed 20 mins because gspc isnt



Check out the the absolute pinpoint turn around on the pivot,






S1 roughly respected but Nov high 1008 breached, now acting as short term resistance?

Do index-based ETFs hold every security in the underlying index?

ETFs based on specific indexes may not hold every security in the underlying index. Many indexes contain illiquid or
small capitalization securities that are costly to purchase and sell. In order to minimize transaction costs, these
ETFs often use optimization techniques to design portfolios that will closely track the underlying index, but not
necessarily hold all the securities in the underlying index. However, this strategy may also lead to tracking error.

tradetime

I think the normal variations in the price are to do with dividend payments, though don't quote me, well you can quote me, but if it's important to you obviously you'd need to confirm the reason . I look at SPY quite a lot, and there is nothing new here, It's a pretty close tracker that has stood the test of time. Tech analysis on SPY will correlate to SPX

but all the spreadbet companies follow sp500 cash and I dont trade spy

Actually to be strictly accurate spreadbet companies, if you check with yours set their rolling cash from the futures contract, they simply take the futures, and apply fair value and voila you have the daily cash subsequently if you were to watch a live SPX cash, live futures and your rolling spreadbet cash index you would see it moves with the futures, otherwise they'd lose lots of money

The differing symbols I think comes from the fact that different platforms are programmed for different symbols, I use esignal and am more familiar with the $SPX

tradetime

Is the yahoo SPY quote actually delayed 20 mins because gspc isnt

No, just checked it, the SPY quote is live.

Yeah pivots can work quite well, like all of TA, as long as you realise it's a tool to tip the odds, nothing more, then you'll be good with it. Unfortunately human nature always seeks certainty, we want something to absolutely tell us when to buy and sell, so we win all the time, which of course is just not possible on a couple of different levels.

tonygee_3

Evening all,
Looking at allshare theres nothing takes my fancy now
Will wait for AUTUMN Sales;)
DSGI triggered +20%
Wish id bought NTG(put up last month) which has doubled since RI
Well done on EMED,not my cup of tea,too black and white,wise too take profits.
I remember CTT trebling whilst waiting for banking license only to collapse afterwards

uk_steve

@ sabretoothtigger


Refrence REX


My £2.20 price is slipping away from me

i feel i may have done a mistake if that is the case, that will teach me trying to save a few pennys on shares :-0

sabretoothtigger

Might not rise much till after RI or at all - I think too many were watching 2.20 and bought just before, hence it never got there, avoid round numbers imo.
It might still go below this price for other reasons though, can never tell these things for sure

tradetime wrote: »

No, just checked it, the SPY quote is live.

Yeah pivots can work quite well, like all of TA, as long as you realise it's a tool to tip the odds, nothing more, then you'll be good with it. Unfortunately human nature always seeks certainty, we want something to absolutely tell us when to buy and sell, so we win all the time, which of course is just not possible on a couple of different levels.

Yea it seems a bit fake that pivots would be quite that accurate, too many computers trading or something.





Tony, I just did a quick stalk through the thread, any more thoughts on developments with REX?

I also think the same on rights ending first but this is only a week away now on the 18th. Also the price action is getting interesting with them, Im thinking it looks reasonable and even if the div does half its still 5% at this price?

Massive volume today for some reason, a positive surely

Day's Range:226.89999 -232.63001
52wk Range:212.00 - 339.25

Volume:26,481,855
Avg Vol (3m):1,345,940

tonygee wrote: »

Think REX hit 210 in March so wouldnt be interested untill lower than thatAny RI and likely div cut (still has massive debts)should see go further down

tonygee wrote: »

Ive always fancied a big fall AUG/SEPT so will stay largely on sidelines for moHopefully MONY & TNI reporting soon will come good;)

tonygee wrote: »

Why not wait till RI is done and dusted,prob shorted till then.(REX)
Bloo*y SELFTRADE been off all morning,:mad:I thought with everone leaving them the service might improve
REL faller today(placing),uninspiring chart
TNI up (back in profit)
BT also doing well,
Nobody wants Utilities,although low theres not much upsides,keep watching

tradetime

Yea it seems a bit fake that pivots would be quite that accurate, too many computers trading or something.

They are just a simple mathematical calculation to produce prospective support and resistance levels, based on the previous periods levels, where the period is daily, weekly or monthly depending on which pivot you want. Most software will calculate it for you, or you can do it yourself.

tonygee_3

Not interested in REX at the moment(unless it falls much lower),there will be much better shares next time market falls.

sabretoothtigger

You might be right there because there is not that much upside potential i guess (short term), certainly not compared to emed or anything but then its a ftse100 company so thats how it is.
I prefer the bigger stuff tbh, I still have the false impression its safer


Best case is to see it approach 300 but I wouldnt expect it to exceed this unless we do get 5000 on the ftse for year end, if the currency is weak then I see this situation as more likely.

They were in a downward channel for 1 year but in May had broken out, does this remain a positive or a negative to overcome



Today Rex moved up especially as the ftse dropped on usa open, to me this means big money is expecting a further rise in the price and see this share as representing a counter trend. All the funds that cant go to cash bought into this I believe




The market bounced just before close today. The SPY touched Support3 and came back, the EUR/JPY also made a higher low and I thought about buying sl because they going ex div, its only interim but it might be 'free'

I agree about thinking about the market turning back, I closed a tracker for this bigger reason but short term it could mean 1050 like GS predicted




Right now the SPY has touched S3 (99.48) several times, which has to be a negative and seems to indicate a larger correction. The news behind it all being a bankruptcy warning by CIT - http://www.bloomberg.com/apps/news?pid=newsarchive&sid=awFbHfrDB.Y8

The ftse futures I think are predicting a higher open tomorrow but that hardly seems secure. The last half hour on the ftse is people closing positions, it often overestimates a trend Ive noticed





China’s economy cools as lending slows


http://www.ft.com/cms/s/0/06871ef4-8630-11de-98de-00144feabdc0.html