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FTSE100 falling fast!
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Ouch, half an hour to go in the US and the S&P 500 has broken below its daily low but always look on the bright side of life.
Some good news: WTI oil down at $86 so the US economy should get a boost from that (Brent Crude is also down 5% today but, of course, in the UK most of the petrol price is tax so it doesn't make as big a difference).
Good news 2: today is likely to be the highest volume of the year for US equities, the investment banks will benefit from that - pity about the chance of 'em blowing up!
Kinda good news 3: Spanish bond yields haven't gone out too far, at 6.284% they've not topped the Greece bailout 2.0 levels, yet. Pity about Italy though.
Sorta good news 4: US dollar has strengthened and a lot of the FTSE-100 has earnings and dividends paid in the currency.
good news 5 (personal): Hate to brag
but my 'folio was only down 0.9% today (yay Unilever!) and it was my best day vs the FTSE-100 ever - don't own banks or basic materials. The problem with this performance is it shows defensive stocks are still being bought. With an equity capitulation you'd usually see a chucking of the baby with the bathwater and the tobacco, pharma and other consumer staples sold off.
Stressed hedge funds with margin calls, also gold is only down 0.7%, nowt is performing better other than US Treasuries, Gilts and Bunds. Though, when I heard Marc "Dr Doom" Faber say he'd buy gold if it goes to $1500 a couple of days ago it did make me wonder whether it has gotten a little toppy.'It's an ill wind that blows nobody any good'
Gold and Silver taking a beating as well :eek:"The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
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1.5% down tomorrow... theres my puntPlan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)0 -
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experience08 wrote: »Lets hope so..... Dow Jones 11,383.68 -512.76 (-4.31%) :eek:
Yes but it was up the day before, not a luxury the Europeans have experienced for a while (Ftse down 6% in past two sessions), then again no telling what the Lemmings will do in the morn. I will be buying one of those Junior oils though, unless the market makers start playing games again.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Nothing new in the Eurozone. We always knew it couldn't run its own economy.Why? I think the Dow is following at the moment, it seems it's a European situation
What is just sinking in is (a) the US government can't now manage its own economy, even if it knew how, because the Tea Party won't let it
(b) the concept, hitherto unknown to this generation, of the USA in austerity. The whole world relies on the Americans spending like there's no tomorrow
(c) the prospect that the dollar might really be going soft, not just fluctuating. The Japanese - hardly in the best nick - have had to intervene - since the debt ceiling crisis - to hold the yen down against the dollar."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
FTSE 100 looking like a 94 point drop in the morning (1.74%) on the futures market, so hold on to your hats on this roller coaster. See if the Far East can pull something out of the bag to stem the sell-off over night :j0
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Living for tomorrow might mean that you survive the day after.
It is always different this time. The only thing that is the same is the outcome.
Portfolios are like personalities - one that is balanced is usually preferable.
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Ark_Welder wrote: »
Doesn't look pretty on the futures. See what happens when i wake-up in the morning. Only *lost* £2k on a long term £28k individual select company portfolio today. Not worried, just like to watch events...with brown coloured pants
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experience08 wrote: »Doesn't look pretty on the futures. See what happens when i wake-up in the morning. Only *lost* £2k on a long term £28k individual select company portfolio today. Not worried, just like to watch events...with brown coloured pants
I'll know how I've done tomorrow evening. Although I do keep an eye on things during the week I only do a valuation once a week after the LSE Friday close. And then it will include other asset types too, bonds, cash etc - should make things look a bit rosier!Living for tomorrow might mean that you survive the day after.
It is always different this time. The only thing that is the same is the outcome.
Portfolios are like personalities - one that is balanced is usually preferable.
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