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If it finishes in the red today it will be the first time it's had four consecutive down day's since April. Seems like most of the bad data effecting it is comming from the US, but how much does October Curse effect it/investor nerves?

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If it finishes in the red today it will be the first time it's had four consecutive down day's since April. Seems like most of the bad data effecting it is comming from the US, but how much does October Curse effect it/investor nerves?

I for one have a bad feeling about today.

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Red October: it had to happen sucker money. Lost

I sold up yesterday morning. I guess the 'suckers' are those who buy now because the FTSE's dropped a few % ... The American nonfarm payroll employment figures are released this afternoon, The market will react to that (Whethers it's up or down is anyone's guess).

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I for one have a bad feeling about today.

Looks like the rally is running out of steam. Maybe a lot of people have taken a look at the real data, especially from the US/Japan and realised that there are no decent profits coming through. At least none that will justify the current p/e ratios.

My take? The market "players" have done their usual magic. Drawn in a number of suckers since the lows of last year and are now extracting their cash. It heads they win, tails they win. :rolleyes:

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Looks like the rally is running out of steam. Maybe a lot of people have taken a look at the real data, especially from the US/Japan and realised that there are no decent profits coming through. At least none that will justify the current p/e ratios.

My take? The market "players" have done their usual magic. Drawn in a number of suckers since the lows of last year and are now extracting their cash. It heads they win, tails they win. :rolleyes:

One of the reasons I sold the last of my stocks was because the "markets players" weren't playing, transaction volumes for the last few months have been really low. IMHO I think most of the people with the real money were caught out by this bounce, hence all the references to the 'wall of money' waiting on the sidelines to be invested. The recovery of stock prices is down to suckers, and I include myself in that group :), who compared prices to 2007 and thought shares were cheap.

Perhaps it's a similar mentality to people who buy houses now, because they're cheaper than 2007?

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Bloomberg news it telling us that "the market has become a bit jittery".

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aa.u8NXjsX_M

"Pound Falls Versus Dollar as Stocks Drop Amid Recovery Concern"

Oct. 2 (Bloomberg) -- The pound fell against the dollar, headed for a third straight weekly decline, as U.K. stocks fell amid signs the worst of the recession has yet to pass.

The British currency also weakened against the euro after Nationwide Building Society revised its estimated increase in house prices for August to 1.4 percent, from 1.6 percent. Investors should sell the pound against the dollar amid expected declines in stocks around the world, UBS AG, the world’s second- biggest foreign-exchange trader said today. The FTSE 100 Index of U.K. shares dropped 0.8 percent.

“Recoveries are never one way and the market has become a bit jittery,” said Lauren Rosborough, a senior currency strategist at Westpac Banking Corp. in London. The pound-dollar rate “has been hurt quite strongly on the back of that.”

The pound fell to $1.5881 as of 8:33 a.m. in London, from $1.5955 yesterday. It traded at 91.52 pence per euro, from 91.17 pence yesterday

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Hey when was the Euro floated ? what was the pound worth when it floated? In three years from now what will the pound be worth against the euro?

Iam guessing it will be worth the same amount as each other, that is off course if the EU is still working and not split up into countries who are looking to improve the lot of there citizens. In hard times the ranks close.

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...pushed by mean Mr Reality.

http://www.cnbc.com/id/33136151

US Job Losses Were Far Worse Than Expected in September

Spot on there mate.....

Gulp.....Denninger has spoke on this also......

http://market-ticker.denninger.net/archives/1485-September-Unemployment-ACTUAL-LOSS-995k.html

http://www.bls.gov/news.release/pdf/empsit.pdf

Could this be the catalyst , everyone on this thread has made valid comments as to the sudden drops........

Here we go?

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Spot on there mate.....

Gulp.....Denninger has spoke on this also......

http://market-ticker.denninger.net/archives/1485-September-Unemployment-ACTUAL-LOSS-995k.html

http://www.bls.gov/news.release/pdf/empsit.pdf

Could this be the catalyst , everyone on this thread has made valid comments as to the sudden drops........

Here we go?

Could be, Kommandant, could be...

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Being a good Catholic, I pulled out just in time.

Think it's all downhill from here...

Thats all very well...

...but fresh from beating off Injin (pun intended)...

...could you hazard a guess about where its heading to and why? ;)

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Spot on there mate.....

Gulp.....Denninger has spoke on this also......

http://market-ticker.denninger.net/archives/1485-September-Unemployment-ACTUAL-LOSS-995k.html

http://www.bls.gov/news.release/pdf/empsit.pdf

Could this be the catalyst , everyone on this thread has made valid comments as to the sudden drops........

Here we go?

"Gulp.....Denninger has spoke on this also......"

So you are saying now is the time to buy?

"Could this be the catalyst , everyone on this thread has made valid comments as to the sudden drops........"

To buy? i think so. The HPC contrarian indicator is something that cannot be ignored

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I pinched this from some dude called Henry Little who is posting on a google finance S & P thread.

My interest is in New York because London follows it slavishly.

I think this guy is talking sense, thanks Henry,

"To everyone reading these posts: I am a professional advisor/money

manager, not a layperson with an etrade account. Our firm manages over

$105 million in AUM.

Been doing this for about nine years now; ok,

that was just to provide some amount of credibility to my comments.

[Errr ,,, not sure it does but anyway, Henry continues,]

For those stubborn, blind bulls who, while they have made good money

this year, contend that the market is going to 1250 or some absurd

number, CHECK YOUR PREMISES.

Unemployment will be +10% in a matter of

months (could happen tomorrow), baltic dry index continues to fall,

foreclosures continue to rise, tax increases ARE coming, there has

been no top line revenue growth for the vast majority of the S&P500,

and we have an administration who says they are pro-market, but their

actions would suggest otherwise.

Yeah, the technicals are saying we

are due for a pullback. I think the fundamentals say we have another

recession in 2010 (you could make the argument that they two quarters

of GDP growth we have in 3rd and 4th Qs don't really count/matter

since they are inventory rebuilding).

Bulls, riddle me this, what

specifically drives the economy in 2010 and 2011?

Historically, it has

been 70% or so consumer spending. Well you can't count on that with

unemployment rising. So what does it?"

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Thats all very well...

...but fresh from beating off Injin (pun intended)...

...could you hazard a guess about where its heading to and why? ;)

Not sure why you'd associate me with an inflationista like Injin, but anyway, I'd expect an eventual step down below the March low. Whether this is the start of this process, or just the fluctuations on a temporary plateau, we'll have to see.

My basis for this opinion is simply from following the pattern of 1929-1933, where each rally led to a deeper low.

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To buy? i think so. The HPC contrarian indicator is something that cannot be ignored

Noel,

If you think that a black xxxday thread is a strong buy signal, you must have done a lot of buying all the way down from the peaks as well as all the way up from the lows ;)

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To buy? i think so. The HPC contrarian indicator is something that cannot be ignored

I''ve taken profit today.. so you will probably be right :ph34r:

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Noel,

If you think that a black xxxday thread is a strong buy signal, you must have done a lot of buying all the way down from the peaks as well as all the way up from the lows ;)

I did a lot of buying when FTSE was below 4000. At the time, I was cra**ing myself.

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