FTSE to fall further? FTSE to fall further?
Page 1 of 2 12 LastLast
Posts 1 to 10 of 12
  1. #1

    I Am Legend

    BrilloPad has reached the peak. Play again?


    Join Date
    Aug 2006
    Posts
    103,774

    Default 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. #2

    More fingers than teeth

    TimberWolf is too good to be a permie

    TimberWolf's Avatar
    Join Date
    Oct 2007
    Posts
    17,505

    Default

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

  3. #3

    Contractor Among Contractors

    ace00 is too good to be a permie

    ace00's Avatar
    Join Date
    May 2007
    Location
    Out of town
    Posts
    1,874

    Default

    Quote 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.

  4. #4

    I Am Legend

    BrilloPad has reached the peak. Play again?


    Join Date
    Aug 2006
    Posts
    103,774

    Default

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

  5. #5

    Potty-trained

    suityou01 is NOT a disguised employee

    suityou01's Avatar
    Join Date
    Jan 2009
    Location
    Skid row
    Posts
    21,017

    Default

    Quote 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.

  6. #6

    Fingers like lightning

    Pickle2 is too good to be a permie

    Pickle2's Avatar
    Join Date
    Jul 2007
    Posts
    955

    Default

    Quote 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!

  7. #7

    Godlike

    Fred Bloggs is NOT a disguised employee

    Fred Bloggs's Avatar
    Join Date
    Feb 2008
    Posts
    5,223

    Default

    Time to fill your boots, guys.

  8. #8

    Potty-trained

    suityou01 is NOT a disguised employee

    suityou01's Avatar
    Join Date
    Jan 2009
    Location
    Skid row
    Posts
    21,017

    Default

    Quote 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.

  9. #9

    Fingers like lightning

    Pickle2 is too good to be a permie

    Pickle2's Avatar
    Join Date
    Jul 2007
    Posts
    955

    Default

    Quote 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!

  10. #10

    (_?_)

    HairyArsedBloke is good enough for Jehovah!

    HairyArsedBloke's Avatar
    Join Date
    Feb 2007
    Location
    Pining for the tropics
    Posts
    7,091

    Default

    Quote Originally Posted by suityou01 View Post
    Quote 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.

    Follow me on Twitter - LinkedIn Profile - The HAB blog - New Blog: Mad Cameron
    Xeno points: +5 - Asperger rating: 36 - Paranoid Schizophrenic rating: 44%

    "We hang the petty thieves and appoint the great ones to high office" - Aesop

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •