shermanator

Absolutely right about the trading ranges. There may be a bounce in the DOW next week, but not much of one. The FTSE is looking way overbought though and think it will re-trace to 5,400

The stock market's like a giant casino and all these experts/analysts are no different from the blokes in my bookies who spend hours studying form. [My capital is now 75% gold 25% cash in short term deposits. In your opinion, is gold overbought? I'm looking to add to my holdings as I withdrew, shrewdly as it turned out, most of equities.

I thought most Wall St. traders buggered off to their weekend places in the Hamptons after Friday morning. How would you like to be a Brit holding FTSE calls and having bought shares on credit cards/personal loans? I wouldn't be able to sleep a wink this weekend......

Aren't there automated programmes that sell when certain key levels of support are broken? Will hedge funds be hurt by the shake out or do they win whatever? Terrific excitement though. Guess that's why it's called a market!

OMG, is anyone else watching the DOW ticker? They're getting hammered big time. Are we looking at a repeat of October '87 crash? If memory serves, the DOW took a big knock Friday and we threw in the towel. Monday's sure going to be interesting................ Whether by foresight or fortune I liquidated 90% of my portfolio this week. Only holding one share, Centrica. FTSE was looking more overbought than the DOW. Guess it's going to be brown trouser weekend for those who've remained fully invested.

Thanks for that. Oh dear, a recession's on the way.

A couple of weeks ago the US yield curve inverted. Can anyone tell me whether it's still inverted?

A few months before the October '87 stock market crash, Jimmy Goldsmith liquidated his shares and declared "cash is king". My holdings right now would be: 1. Cash 2. Gold 3. Diamonds (if things get really bad and you have to leave in a hurry)

Waliking along Beckenham High Street I saw that Wates Residential had moved out. A notice read, "due to restructuring this office will be merged with our Crystal Palace office". They started up in 2004. These aren't fly by night merchants as they've had a presence in South London for 40 years or more. Can you imagine being an EA on a commission only contract? Too many players, too few deals. But things ALWAYS get back to equilibrium.

26. Born compltely out of my time. 60s, 70s and 80s looked great. Everything post 1989 has been crap. Films, TV, music, cars, fashion. We live in dull commercialised world run by two-bit recruitment consultants who have bred a nation characterised by mediocrity, not greatness. (Still, one good thing has happened. The traitorous non-Conservative Party are finished.)

You have far,far more to lose by buying this house now, than waiting 5 years. You might as well chuck 150k down the drain. Sorry to be brutal, but there's no room for sentiment in the most burdensome purchase you'll ever make. DON'T DO IT!!

Well, the businesses one wants to run in a recession are those serving people's vices. Tobacco, alcahol, drugs, gambling and sex are pretty much recession proof, so Libitina's anecdotal evidence doesn't surprise me.

You've taken the words out of my mouth. I've always been of the opinion that the crash will begin when many of the bears throw in the towel. I recall many bear analysts c. 1998-99 who then did an about face and suddenly became bulls. Far from being seen as bad, Bootle's sudden bullishness is excellent news for us bears. I can't think of one economist/analyst who is bearish; the PERFECT cpnditions for a crash! Anyone who has studied human behavioural theory and the madness of crowds will have an even clearer understanding. I reckon the correction has now begun and poor old Bootle will be left with egg on his face.

Er... what??? Not one of my peers (I'm 26) earns 100k plus. Most are in the 18-40k bracket. The handful who do are of a different generation and blow it all on coke, nightclubs, bars, hols and cars. Perhaps you're mixing in hedge fund circles.

I have a largeish amount of money on deposit at the Halifax but my experience is rather more negative. Three times since October, as I have been paying money in or out, the cashier has said "are you thinking about getting a mortgage, we're doing good deal now". And they're still trying to get me to take out an unsecured personal loan. There appears to be plenty of air left in the bubble, unfortunately.

Estate Agent? Overstretched BTL investor? Greedy homeowner? Nu Labour spin-meister Take your pick.....

I sense the ruddy-faced farmers of the Dordogne et al. will be raising their Claret to this.....seeing as they sold delapidated old barns to gullible, Volvo estate drivers for ludicrous sums. I've got no sympathy for these second homers at all. Roll on the crash.

London's already a slum. So what's the difference between a city populated by white, cosmopolitan coke-heads or drug-addled Rasterfarians? They're all scum

It rather depends on what 'poor' means. It's certainly a grey area. Here's a little rundown of who I think some of the winners and losers will be : Winners John Lewis (+ Waitrose) M&S Woolworths Sainsbury's Primark WH Smith Losers Next French Connection MFI BHS JJB Sports JD Sports House of Fraser HMV Ottaker's Dixons Debenhams

Where's or little friend who appeared to think the high street was booming ("for all of you who portended a high st. crash etc etc")? Without sounding too arrogant, I got the timing of ths retail recession more or less right, aug '04. As for lowering interest rates; I reckon the consumer is now under so much debt, lower IRs wil only make a difference at the margins. If people don't wish to spend, they can't be forced. 7 fat years, 7 lean years. It's there in the Bible and seems quite accurate. BTW, this is just the beginning of one almighty fall-out.

Kerry Packer was a very shrewd man. His greatest coup was of course to upset the cricket establishment, but in terms of money-making, his selling of Channel 9 to Alan Bond and buying it back 4 years later for far less, catapulted him into the super rich league. He also withdrew a lot of money from stocks just before the '87 crash, as did Jimmy Goldsmith, another of my heroes. My favourite Jimmy story; Before he married the Petino heiress, her father said to Goldsmith, "Our family isn't in the habit of marrying Jews". Really, said Goldsmith, "my family isn't in the habit of marrying Red Indians". Bob Maxwell is possibly my 'favourite' business figure, post war. He built himself up from literally nothing, into a war hero (he obtained an MC), fluent in several languages, a buccaneering businessman and had the ear of top politicians the world over. His life story really does read as boy's own fiction. There are many unassuming wealthy people, but there are also many who are not. I have a lot of time for Rupert Murdoch, though many like to paint him as the devil, as he is an undoubted visionary. Philip Green, OTOH, I've met and have little time for. It's wrong to say though, that all charasmatic businessmen are unlikable. Donald Trump (Mr. New York) appears down to earth despite his brashness. His personality probably saved the banks foreclosing on him in the early 90s.......Though he could find himself in trouble again if he doesn't liquidate quickly.

I broke the habit of a lifetime and actually went out for New Year, in hated London. Me and two friends were wandering aimlessly around; The Savoy was charging £15 a head just to sit in the bar. Had a quick drink in Simpson's instead. Then we blagged our way into the OXO Tower Restaurant overlooking the Thames. Apparantly it was a private party and the wine was free if you were in a certain 'group'.....which of course we were. Danced to a bit of Kool And The Gang on their makeshift dancefloor, and pitied the poor sods who had paid hundreds of pounds to eat an overpriced meal. All in all, a very happy and frugal new year. P.S. the "fireworks" on the Thames were crap. Buncefield was far better.

I agree with all that. Bit like 'groundhog day'.

The BBC News is reporting 'brisk' trading - brisk being a euphemism for 'sluggish' That's just what I was thinking!