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FTSE to fall further?

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    FTSE to fall further?

    http://business.timesonline.co.uk/to...cle6524450.ece

    Buyers rush for gilts as index slides below 4,300

    London’s leading stock market index plunged through the 4,300 level for the first time in five weeks, a move that many investment houses believe removes a crucial support for equities.

    Gilt prices soared as investors appeared to be running for safe-haven securities. The FTSE 100 closed down 50.11 points at 4,278.46, hit by another bout of selling of mining stocks.

    “I would rubbish suggestions of profit-taking,” Omer Bhatti, the head of sales trading at WorldSpreads, said.

    Mr Bhatti and many other traders believe that market moves in the past five weeks have been driven not by trading in individual equities but by investors betting in the futures market on movements in the index itself — buying when it approaches 4,300 and selling when it nears 4,500. Now that the index has fallen below 4,300, he thinks that these traders will close their long positions and even short the index further.

    He said: “No one is catching this fall as it has been so openly and widely demanded.” But he thinks that many fund managers who believe the worst is past will start buying at 4,100.

    The gloom is in marked contrast to the mood only a week ago, when “chartists”, who try to predict future trends using historic charts, were talking about an imminent “golden cross”, when the short term (50-day) moving average level of the S&P 500 rises above that index’s long-term (200-day) average level.

    #2
    Originally posted by BrilloPad View Post
    ...when “chartists”, who try to predict future trends using historic charts

    Comment


      #3
      Originally posted by BrilloPad View Post
      , were talking about an imminent “golden cross”, when the short term (50-day) moving average level of the S&P 500 rises above that index’s long-term (200-day) average level.
      Is that like a 4-way golden shower ? Just asking.
      Bored.

      Comment


        #4
        Originally posted by ace00 View Post
        Is that like a 4-way golden shower ? Just asking.
        How would I know? Ask atw.......

        Comment


          #5
          Originally posted by BrilloPad View Post
          http://business.timesonline.co.uk/to...cle6524450.ece

          Buyers rush for gilts as index slides below 4,300

          London’s leading stock market index plunged through the 4,300 level for the first time in five weeks, a move that many investment houses believe removes a crucial support for equities.

          Gilt prices soared as investors appeared to be running for safe-haven securities. The FTSE 100 closed down 50.11 points at 4,278.46, hit by another bout of selling of mining stocks.

          “I would rubbish suggestions of profit-taking,” Omer Bhatti, the head of sales trading at WorldSpreads, said.

          Mr Bhatti and many other traders believe that market moves in the past five weeks have been driven not by trading in individual equities but by investors betting in the futures market on movements in the index itself — buying when it approaches 4,300 and selling when it nears 4,500. Now that the index has fallen below 4,300, he thinks that these traders will close their long positions and even short the index further.

          He said: “No one is catching this fall as it has been so openly and widely demanded.” But he thinks that many fund managers who believe the worst is past will start buying at 4,100.

          The gloom is in marked contrast to the mood only a week ago, when “chartists”, who try to predict future trends using historic charts, were talking about an imminent “golden cross”, when the short term (50-day) moving average level of the S&P 500 rises above that index’s long-term (200-day) average level.
          Expect it to fall again massively.

          Doomed!
          Knock first as I might be balancing my chakras.

          Comment


            #6
            Originally posted by suityou01 View Post
            Expect it to fall again massively.
            Hang on, I thought you were all for inflation!?
            The Mods stole my post count!

            Comment


              #7
              Time to fill your boots, guys.
              Public Service Posting by the BBC - Bloggs Bulls**t Corp.
              Officially CUK certified - Thick as f**k.

              Comment


                #8
                Originally posted by Pickle2 View Post
                Hang on, I thought you were all for inflation!?
                I dunno anymore. I think I'm just all for being able to invoice at the minute. Bit down me ole son. You know how it is.
                Knock first as I might be balancing my chakras.

                Comment


                  #9
                  Originally posted by suityou01 View Post
                  I dunno anymore. I think I'm just all for being able to invoice at the minute.
                  I hear that. Bench in T minus 9 billable days for me.
                  The Mods stole my post count!

                  Comment


                    #10
                    Originally posted by suityou01 View Post
                    Originally posted by Pickle2 View Post
                    Hang on, I thought you were all for inflation!?
                    I dunno anymore. I think I'm just all for being able to invoice at the minute. Bit down me ole son. You know how it is.
                    Youtube: Inflation - wonderful stuff
                    "what a man, what a leader.
                    Yowsa, happy days are here again".
                    How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

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                    Comment

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