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twinturboz said:
Well yesterday's rise in the US market was obviously a fed cat bounce, ugly action today.
I'm not experienced (getting my excuse in first) but I'm starting to get frustrated with the way the market seems to (over?)react to what happens in the US. A fall towards the end of the day there ends up translating to a horrible morning in the UK the following day. I know the US market forces are large but it seems like we're effectively too rung up on what they're doing than actually worrying about ourselves and what market forces are in place in the UK.
RichF said:
I know the US market forces are large but it seems like we're effectively too rung up on what they're doing than actually worrying about ourselves and what market forces are in place in the UK.
All the markets are linked the US often takes cues from what Asia did overnight etc, looking back with hindsight the Ftse was leading the way down last week before the US had its drop.Overall though the markets imo are still exhibiting a topping phase, you had the leaders start to break down early March where the indexes weren't following individual stock action. Rotation out of high momentum stocks is still ongoing and anything with a silly valuation has been brought down a peg or two with that money rotating into safer stocks with better valuations.
It's pretty safe to say the market is in a correction Facebook, Netflix, Google, Amazon, Tesla, Twitter and many bio tech stocks are all down 30% or more from the highs, based on yesterday's close theres probably more downside to come but how much more is the question, you also have the additional problem where a lot of investors have taken up large levels of margin because of low interest rates and so if markets continue to fall I'm sure margin calls will become an issue and lead to further selling.
Personally I closed the majority of my long positions a few weeks back and since then have been trading purely day to day, it's been a very difficult and choppy market recently with profits gone in a few hours if you hang about.
You have to be very careful buying just anything right now the expression catching a falling knife comes to mind, unless your operating on a short timeframe and most importantly honouring your stops.
Edited by twinturboz on Friday 11th April 11:53
twinturboz said:
All the markets are linked the US often takes cues from what Asia did overnight etc, looking back with hindsight the Ftse was leading the way down last week before the US had its drop.
Overall though the markets imo are still exhibiting a topping phase, you had the leaders start to break down early March where the indexes weren't following individual stock action. Rotation out of high momentum stocks is still ongoing and anything with a silly valuation has been brought down a peg or two with that money rotating into safer stocks with better valuations.
It's pretty safe to say the market is in a correction Facebook, Netflix, Google, Amazon, Tesla, Twitter and many bio tech stocks are all down 30% or more from the highs, based on yesterday's close theres probably more downside to come but how much more is the question, you also have the additional problem where a lot of investors have taken up large levels of margin because of low interest rates and so if markets continue to fall I'm sure margin calls will become an issue and lead to further selling.
Personally I closed the majority of my long positions a few weeks back and since then have been trading purely day to day, it's been a very difficult and choppy market recently with profits gone in a few hours if you hang about.
You have to be very careful buying just anything right now the expression catching a falling knife comes to mind, unless your operating on a short timeframe and most importantly honouring your stops.
Google is only off 10% ish, you do know it's had a share split so the 540 its trading now is equivalent of 1090? Facebook is not off 30% either.Overall though the markets imo are still exhibiting a topping phase, you had the leaders start to break down early March where the indexes weren't following individual stock action. Rotation out of high momentum stocks is still ongoing and anything with a silly valuation has been brought down a peg or two with that money rotating into safer stocks with better valuations.
It's pretty safe to say the market is in a correction Facebook, Netflix, Google, Amazon, Tesla, Twitter and many bio tech stocks are all down 30% or more from the highs, based on yesterday's close theres probably more downside to come but how much more is the question, you also have the additional problem where a lot of investors have taken up large levels of margin because of low interest rates and so if markets continue to fall I'm sure margin calls will become an issue and lead to further selling.
Personally I closed the majority of my long positions a few weeks back and since then have been trading purely day to day, it's been a very difficult and choppy market recently with profits gone in a few hours if you hang about.
You have to be very careful buying just anything right now the expression catching a falling knife comes to mind, unless your operating on a short timeframe and most importantly honouring your stops.
Edited by twinturboz on Friday 11th April 11:53
marky1 said:
Google is only off 10% ish, you do know it's had a share split so the 540 its trading now is equivalent of 1090? Facebook is not off 30% either.
Yup your quite right Facebook is off by 20% ish, I stand corrected. Are you arguing that the recent action is just a minor dip?
twinturboz said:
Yup your quite right Facebook is off by 20% ish, I stand corrected.
Are you arguing that the recent action is just a minor dip?
Wasn't really arguing anything other than google is off nothing near 30% so if you were using that to form conclusions they could be wrong. :-)Are you arguing that the recent action is just a minor dip?
marky1 said:
Wasn't really arguing anything other than google is off nothing near 30% so if you were using that to form conclusions they could be wrong. :-)
No worries long week hah 
Hopefully this week is easier to navigate trading wise, don't want to be too heavily short, might be approaching oversold in the short term.marky1 said:
Interesting to look at FTSE underperformace vs S&P over the past 6 weeks. I think a good trade now is buying FTSE selling S&P. S&P 0.6% below yearly high, FTSE 4.5% below.
For anyone that was following this it worked quite well. S&P now 1825, or 3.5% below yearly high and FTSE now 4% below yearly high, so you can see how they have converged. It works out the convergence is the equivalent of about 200 points in FTSE.Edited by marky1 on Tuesday 15th April 07:10
Edited by marky1 on Tuesday 15th April 07:11
Edited by marky1 on Tuesday 15th April 07:12
TalkTalk have announced (at 8am today) a project to bring FTTP to the city of York on a joint deal with CityFibre and Sky. Should have a positive impact on price as it'll be a whole new infrastructure outside of BT's network. Shares have fallen recently from 3.20 to currently 2.86. Maybe one for the short term investors.
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