Anyone scalping the FTSE Futures??

A very interesting article regarding market valuation can be found here :]

this article is a bit longer but very good,

Accounting Principles: Cash, Bonds, Stocks

At the margin, if no investor can be found that wants to hold a given unit of a given asset at the prevailing market price, then the market price will fall until a willing holder is found. With respect to shares of a stock or bond, the application is straightforward. If no one wants to hold a given share at $100, then we try $95. Still no takers? Then we try $90, then $85, then $80, and so on. We continue until some investor emerges that finds the share sufficiently attractive to hold at the offered price. The concept applies analogously to cash–if no investor wants to hold cash, then the price that is bid on everything else will rise until everything else becomes so expensive and unattractive that some investor somewhere capitulates and agrees to hold cash instead. Measured in terms of other assets, the price of cash falls.

http://philosophicaleconomics.wordp...est-predictor-of-future-stock-market-returns/
 
I have to say despite all my bearish calls, the FTSE looks desperate to leap higher.
 
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