Uffff, seems we placed in a bottom or at least very close to it. Need a breather amid big volatility, 1210 for me Pat please. Glad I picked a stock which has responded to the upside along with the markets, therefore, my recoup started, hands and feet fingers crossed, hehehe.
isatrader
Senior member
- Messages
- 2,963
- Likes
- 135
1212 for me this week.
Market breadth indicators that I follow are in the buy zone finally. They just need to turn back up again and break back above the 30% level and I'll be getting fully invested again. I sold my bonds that I bought for protection in April and have moved back into Silver and Nickel over the last 2 weeks. Could be a little premature but I have a target of 1460 for the S&P 500 by the end of the year as I don't see the world ending like the commentators are suggesting at the moment and think we still have wave 5 of this bull run to go yet before things get a bit iffy for a while.
Short term I think we go up a bit and then retest the recent low before moving higher again in a more meaningful way. Hopefully that is :whistling
Market breadth indicators that I follow are in the buy zone finally. They just need to turn back up again and break back above the 30% level and I'll be getting fully invested again. I sold my bonds that I bought for protection in April and have moved back into Silver and Nickel over the last 2 weeks. Could be a little premature but I have a target of 1460 for the S&P 500 by the end of the year as I don't see the world ending like the commentators are suggesting at the moment and think we still have wave 5 of this bull run to go yet before things get a bit iffy for a while.
Short term I think we go up a bit and then retest the recent low before moving higher again in a more meaningful way. Hopefully that is :whistling
Attachments
wackypete2
Legendary member
- Messages
- 10,211
- Likes
- 2,058
Probably another volatile week. I'm calling 1198
Certainly is exciting trading, and a bit gut wrenching.
Peter
Certainly is exciting trading, and a bit gut wrenching.
Peter
wackypete2
Legendary member
- Messages
- 10,211
- Likes
- 2,058
rathcoole_exile
Guest Author
- Messages
- 3,925
- Likes
- 767
1156
(with a low on the week of 1132)
(with a low on the week of 1132)
Hi guys 1250 for me please
Ref spread betters I am with ig and city (which is same platform as fins I believe) and city just can not cope with really fast markets the price appears to lag infact they are the worst of any sb company I have seen in fast markets and they need to sort it out although I suspect they have a fundamental problem with the platform.
IG on the other hand seem to cope much better and their advanced charts package is very good.
I still mainly trade with city though as the spreads are so good and they do allow very small stakes but would never enter a trade without a stop particularly in these markets!
Ref spread betters I am with ig and city (which is same platform as fins I believe) and city just can not cope with really fast markets the price appears to lag infact they are the worst of any sb company I have seen in fast markets and they need to sort it out although I suspect they have a fundamental problem with the platform.
IG on the other hand seem to cope much better and their advanced charts package is very good.
I still mainly trade with city though as the spreads are so good and they do allow very small stakes but would never enter a trade without a stop particularly in these markets!
robster970
Guest Author
- Messages
- 4,567
- Likes
- 1,390
1255 for me this week
Pat494
Legendary member
- Messages
- 14,614
- Likes
- 1,588
HONG KONG/SINGAPORE, Aug 15 (Reuters) - Asian shares bounced on Monday and European stocks looked set to follow as investors returned to pick up bargains, while havens like gold and the Swiss franc lost appeal.
But broader markets remained fragile ahead of a key Franco-German summit that may offer a solution out of the spreading debt crisis.
A 0.8 percent rise in U.S. stock futures encouraged selective buying in Asian equities, but all eyes were on the summit and euro zone second-quarter GDP data , both on Tuesday, for more clues on the global economic outlook and the policy response needed to tackle Europe (Chicago Options: ^REURTRUSD - news) 's debt quagmire.
Japan's Nikkei (Osaka: ^N225 - news) rose 1.4 percent after main Wall Street indices advanced on Friday, but without the wild intra-day swings that marked trading last week when the S&P 500 (SNP: ^GSPC - news) moved at least 4 percent up or down for four consecutive days.
This was only the third time such volatility had rocked markets since the Great Depression in the 1930s, according to research by BofA-Merrill Lynch (NYSE: MER - news) .
European shares were also expected to open higher and extend their rebound to three straight sessions. Financial spreadbetters saw Britain's FTSE opening 0.5 percent higher and Germany's DAX (Xetra: ^GDAXI - news) opening up 0.8 percent.
Japanese shares were also boosted by data showing Japan's economy shrank less than expected in April-June following a devastating earthquake and tsunami in March.
Asian stocks outside of Japan rose by 2.1 percent, after tumbling nearly 4 percent last week, with key indexes in Hong Kong and Australia up over 2 percent.
Frances Cheung, senior strategist at Credit Agricole (Milan: ACA.MI - news) in Hong Kong, said the meeting between the leaders of France and Germany on Tuesday would be crucial to determining whether any longer-term solution to the euro zone's debt crisis is in the works.
"There is still a huge focus on money markets ... and looking at them shows not everything is solved," she said.
German Chancellor Angela Merkel and French President Nicolas Sarkozy are due to meet in Paris to hammer out a solution to the debt crisis which has shown signs of engulfing the big economies of Italy and Spain and heightened strains in money markets to levels not seen during the 2008 crisis.
While dollar funding costs evident from cross currency basis swap rates in dollar/yen and dollar/euros have cooled from last week's peaks, they are still at elevated levels.
On a valuation basis, the MSCI index of Asia stocks outside Japan trades at 11.5 times forward 12-month earnings, according to Thomson Reuters I/B/E/S, above the 7.9 times seen during the depths of the 2008 financial crisis.
That suggests investors may still not be in a hurry to buy despite the 13 percent decline over the last two weeks.
Markets also remain vulnerable to declines as debt cutting plans in Europe and the United States threaten to act as a further drag on already weak economic growth at a time when latest data has been patchy.
U.S. consumer sentiment plunged to its lowest level since 1980 in early August, data showed on Friday, though July retail sales rose 0.5 percent.
FRANC TUMBLES
Adrian Foster, head of markets research for the Asia-Pacific (KSE: 002790.KS - news) region at Rabobank International, said markets would start focusing again on fundamentals such as corporate balance sheets and consumer spending after the volatility in recent weeks.
Signs that equities might have marked a temporary bottom after last week's volatile moves and persistent chatter that Swiss authorities may peg the franc against the euro to battle its surge sent the safe-haven currency tumbling by 2 percent against the euro and the dollar.
The euro, which plumbed a record low around 1.0075 francs last week, climbed to a high of 1.1351 francs , up from 1.1079 late in New York (Xetra: A0DKRK - news) on Friday.
But Barclays Capital analysts warned expectations of a peg seemed overdone, believing the franc would rally once again this week if markets started to change their view on its probability.
"We remain CHF bears in the medium run - we agree with the SNB (Swiss: SNBN.SW - news) 's view that it is "massively overvalued" - but, this week, we are not expecting the recent appreciation of EUR/CHF to hold," said Paul Robinson, strategist at Barclays Capital.
The drop in the franc rippled over into gold markets with the precious metal slipping more than 1 percent in early trade after a 1.5 percent slide in the previous session.
Gold, which had gained 9 percent so far this month before Friday's slide, later pared most of its losses and stood at $1,740 an ounce by mid-afternoon.
U.S. crude futures were steady around $85.40 a barrel after settling down slightly on Friday.
But broader markets remained fragile ahead of a key Franco-German summit that may offer a solution out of the spreading debt crisis.
A 0.8 percent rise in U.S. stock futures encouraged selective buying in Asian equities, but all eyes were on the summit and euro zone second-quarter GDP data , both on Tuesday, for more clues on the global economic outlook and the policy response needed to tackle Europe (Chicago Options: ^REURTRUSD - news) 's debt quagmire.
Japan's Nikkei (Osaka: ^N225 - news) rose 1.4 percent after main Wall Street indices advanced on Friday, but without the wild intra-day swings that marked trading last week when the S&P 500 (SNP: ^GSPC - news) moved at least 4 percent up or down for four consecutive days.
This was only the third time such volatility had rocked markets since the Great Depression in the 1930s, according to research by BofA-Merrill Lynch (NYSE: MER - news) .
European shares were also expected to open higher and extend their rebound to three straight sessions. Financial spreadbetters saw Britain's FTSE opening 0.5 percent higher and Germany's DAX (Xetra: ^GDAXI - news) opening up 0.8 percent.
Japanese shares were also boosted by data showing Japan's economy shrank less than expected in April-June following a devastating earthquake and tsunami in March.
Asian stocks outside of Japan rose by 2.1 percent, after tumbling nearly 4 percent last week, with key indexes in Hong Kong and Australia up over 2 percent.
Frances Cheung, senior strategist at Credit Agricole (Milan: ACA.MI - news) in Hong Kong, said the meeting between the leaders of France and Germany on Tuesday would be crucial to determining whether any longer-term solution to the euro zone's debt crisis is in the works.
"There is still a huge focus on money markets ... and looking at them shows not everything is solved," she said.
German Chancellor Angela Merkel and French President Nicolas Sarkozy are due to meet in Paris to hammer out a solution to the debt crisis which has shown signs of engulfing the big economies of Italy and Spain and heightened strains in money markets to levels not seen during the 2008 crisis.
While dollar funding costs evident from cross currency basis swap rates in dollar/yen and dollar/euros have cooled from last week's peaks, they are still at elevated levels.
On a valuation basis, the MSCI index of Asia stocks outside Japan trades at 11.5 times forward 12-month earnings, according to Thomson Reuters I/B/E/S, above the 7.9 times seen during the depths of the 2008 financial crisis.
That suggests investors may still not be in a hurry to buy despite the 13 percent decline over the last two weeks.
Markets also remain vulnerable to declines as debt cutting plans in Europe and the United States threaten to act as a further drag on already weak economic growth at a time when latest data has been patchy.
U.S. consumer sentiment plunged to its lowest level since 1980 in early August, data showed on Friday, though July retail sales rose 0.5 percent.
FRANC TUMBLES
Adrian Foster, head of markets research for the Asia-Pacific (KSE: 002790.KS - news) region at Rabobank International, said markets would start focusing again on fundamentals such as corporate balance sheets and consumer spending after the volatility in recent weeks.
Signs that equities might have marked a temporary bottom after last week's volatile moves and persistent chatter that Swiss authorities may peg the franc against the euro to battle its surge sent the safe-haven currency tumbling by 2 percent against the euro and the dollar.
The euro, which plumbed a record low around 1.0075 francs last week, climbed to a high of 1.1351 francs , up from 1.1079 late in New York (Xetra: A0DKRK - news) on Friday.
But Barclays Capital analysts warned expectations of a peg seemed overdone, believing the franc would rally once again this week if markets started to change their view on its probability.
"We remain CHF bears in the medium run - we agree with the SNB (Swiss: SNBN.SW - news) 's view that it is "massively overvalued" - but, this week, we are not expecting the recent appreciation of EUR/CHF to hold," said Paul Robinson, strategist at Barclays Capital.
The drop in the franc rippled over into gold markets with the precious metal slipping more than 1 percent in early trade after a 1.5 percent slide in the previous session.
Gold, which had gained 9 percent so far this month before Friday's slide, later pared most of its losses and stood at $1,740 an ounce by mid-afternoon.
U.S. crude futures were steady around $85.40 a barrel after settling down slightly on Friday.
Pat494
Legendary member
- Messages
- 14,614
- Likes
- 1,588
Dear Pat, you were much softer on the Irish debt problems and issues then any other country. Is that bias / prejudice?
Did go over there for a holiday many years ago. Got accused of being an Oliver Cromwell sympathiser, of all things ! They weren't very up to date with current affairs at the time.
Did go over there for a holiday many years ago. Got accused of being an Oliver Cromwell sympathiser, of all things ! They weren't very up to date with current affairs at the time.
Pat494
Legendary member
- Messages
- 14,614
- Likes
- 1,588
For Week Ending Friday 19th August at 1123.5
Name.............Call.........Direction.......Podium .........sub Total……………Total
Pat494……………..1211……..…..0………………….0…………………….0……………… . ...12
Gaffs1964………..1195…………..0……………..….0…………….……..0…………… … .…..11
robster970……….1255……………0………….………0…………………….0…………..… …. ..11
wackypete2.…….1198……………0……….…………0……….………..…0………….…… …….7
dpinpon..........1210..........0...............0.. ...............0..................5
Av…………………….1215…….…….0…………………..0…………………….0…………. .. …. …5
Rathcoole exile..1156.........1................3............. ...4..................5
Isatrader………….1212.….………0………………….0…………………….0……………… … ….4
Atilla………………..1215………….0………………….0…………………….0…………………… … 4
Wt av………….....1214.………..0…….…….……..0………………..….0……….… … …… ..3
Tim3..............1250..........0...............0.................0..... ..............2
DonStar..........1217..........0...............0.................0....................0
debrox............1247..........0...............0.................0....................0
Well forecast by Rathcoole exile. The rest of us were wrong even directionally. Ahem room for improvement methinks ?
:clap:
Name.............Call.........Direction.......Podium .........sub Total……………Total
Pat494……………..1211……..…..0………………….0…………………….0……………… . ...12
Gaffs1964………..1195…………..0……………..….0…………….……..0…………… … .…..11
robster970……….1255……………0………….………0…………………….0…………..… …. ..11
wackypete2.…….1198……………0……….…………0……….………..…0………….…… …….7
dpinpon..........1210..........0...............0.. ...............0..................5
Av…………………….1215…….…….0…………………..0…………………….0…………. .. …. …5
Rathcoole exile..1156.........1................3............. ...4..................5
Isatrader………….1212.….………0………………….0…………………….0……………… … ….4
Atilla………………..1215………….0………………….0…………………….0…………………… … 4
Wt av………….....1214.………..0…….…….……..0………………..….0……….… … …… ..3
Tim3..............1250..........0...............0.................0..... ..............2
DonStar..........1217..........0...............0.................0....................0
debrox............1247..........0...............0.................0....................0
Well forecast by Rathcoole exile. The rest of us were wrong even directionally. Ahem room for improvement methinks ?
:clap:
Last edited:
Pat494
Legendary member
- Messages
- 14,614
- Likes
- 1,588
I was anticipating a bounce at the end of last week, but nothing much happened. Could be one this week instead. There isn't enough gold to soak up all the liquidity and QE ( I didn't see a penny of it, but must be somewhere ? ) . I am going down, hoping not this week.
1070
1070
