Realistbear Posted June 25, 2010 Author Share Posted June 25, 2010 Yes FTSE 100 5122.31+0.43% Double dip? No way--its buy buy buy and damn the economy......................... Quote Link to comment Share on other sites More sharing options...
mid_gen Posted June 25, 2010 Share Posted June 25, 2010 You know to buy when people on internet forums are predicting big falls. Trying to make something out of daily movements of the FTSE? Dear oh dear.... Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 25, 2010 Author Share Posted June 25, 2010 You know to buy when people on internet forums are predicting big falls. Trying to make something out of daily movements of the FTSE? Dear oh dear.... It relieves tedium when there is a quiet patch at work. FTSE chart looks interesting right now. Image of a cliff comes to mind--but what was the trigger. People getting depressed on here and deciding financial armageddon is about to break loose. Is today the first quintuple witching day sine the great black friday in 1931? Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 25, 2010 Author Share Posted June 25, 2010 (edited) http://uk.finance.yahoo.com/news/us-first-quarter-gdp-growth-cut-to-27-afp-c7ffecb1b204.html?x=0 US economic growth in the first quarter was revised downward for the second time to 2.7 percent, official data showed Friday, falling short of analyst expectations. The Commerce Department lowered its estimate on gross domestic product growth for the January-March period from the 2009 fourth quarter from an initial estimate of 3.2 percent, which was revised down to 3.0 percent in late May. The final reading was lower than the average analyst forecast of 3.0 percent. Nothing like a bit of downward revision to get the bulls charging again, what! Snarff, snarff, mumble mumble---BELCH. Dow 10,160.28 +7.48 +0.07% Edited June 25, 2010 by Realistbear Quote Link to comment Share on other sites More sharing options...
Alan B'Stard MP Posted June 25, 2010 Share Posted June 25, 2010 We DO have significant growth. It's just unfortunate that we have to keep counting the non-combatants in the figures. About time we reclassified them and removed them from the official calculations. Quote Link to comment Share on other sites More sharing options...
yellerkat Posted June 25, 2010 Share Posted June 25, 2010 Nothing like a bit of downward revision to get the bulls charging again, what! Snarff, snarff, mumble mumble---BELCH. That's just so 2010Q2 will come in as a MAHOOSIVE leap - until that too is revised down, down, down... Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 25, 2010 Author Share Posted June 25, 2010 (edited) We DO have significant growth. It's just unfortunate that we have to keep counting the non-combatants in the figures. About time we reclassified them and removed them from the official calculations. The main driver of our economy, HPI, is said to be growing and that is 40% of the total according to the ONS. I am not so sure a downward revision in projected HPI by the LR (they project double digit HPI this year) would do much good for stocks though. But in this contrarian market who can tell. I have a feeling that, despite the initial reaction to lower growth being to the upside, stocks will end up over 150 down on the DOW. We may scrape by in positive territory to break apossible 4 in a row down days but for the "good" news from the US. However, at this point the FTSE still looks like it may end up negative despite all the bad news being factored in. Edited June 25, 2010 by Realistbear Quote Link to comment Share on other sites More sharing options...
pl1 Posted June 25, 2010 Share Posted June 25, 2010 That's just so 2010Q2 will come in as a MAHOOSIVE leap - until that too is revised down, down, down... Who's ready to buy punt on BP yet? Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 25, 2010 Author Share Posted June 25, 2010 Who's ready to buy punt on BP yet? 1000 shares at 2.50 for a quick dip in and out might be worth it. North of 250 seems too risky as no one really knows the extent of the damage or the numbers of US lawsuits backing up to pick BP apart. I would not be interested in a buy and hold that is for certain. I have a dark sense of foreboding about the SMs recently. I can see 1000 of the FTSE any day now--thought it would happen today but not so far. Fundamentals are about as grim as they can get and no one is talking about the future with any sense of confidence and stocks thrive on what is going to happen 9-12 months out. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 25, 2010 Author Share Posted June 25, 2010 http://finance.yahoo.com/news/Consumer-sentiment-highest-rb-3273066784.html;_ylt=Aivz2ru0f.iL.Wg868qpup.7YWsA;_ylu=X3oDMTE1dmgwdTgwBHBvcwMyBHNlYwN0b3BTdG9yaWVzBHNsawNjb25zdW1lcnNlbnQ-?x=0&sec=topStories&pos=main&asset=&ccode= Consumer sentiment highest since Jan 2008 On Friday June 25, 2010, 9:56 am NEW YORK (Reuters) - Consumer sentiment rose in June to its highest since January 2008 while reports of job losses were down sharply from a year ago, a survey showed on Friday. A gauge of current economic conditions also rose to its highest since January 2008, according to the Thomson Reuters/University of Michigan's Surveys of Consumers. Feel good factor is just riding all that bleak news out there. It will wear off as soon as the fundamentals all turn positive. Quote Link to comment Share on other sites More sharing options...
Alan B'Stard MP Posted June 25, 2010 Share Posted June 25, 2010 http://finance.yahoo.com/news/Consumer-sentiment-highest-rb-3273066784.html;_ylt=Aivz2ru0f.iL.Wg868qpup.7YWsA;_ylu=X3oDMTE1dmgwdTgwBHBvcwMyBHNlYwN0b3BTdG9yaWVzBHNsawNjb25zdW1lcnNlbnQ-?x=0&sec=topStories&pos=main&asset=&ccode= Consumer sentiment highest since Jan 2008 On Friday June 25, 2010, 9:56 am NEW YORK (Reuters) - Consumer sentiment rose in June to its highest since January 2008 while reports of job losses were down sharply from a year ago, a survey showed on Friday. A gauge of current economic conditions also rose to its highest since January 2008, according to the Thomson Reuters/University of Michigan's Surveys of Consumers. Feel good factor is just riding all that bleak news out there. It will wear off as soon as the fundamentals all turn positive. We are all comrades now. Why can no HPCer see it? Quote Link to comment Share on other sites More sharing options...
tippingpoint Posted June 25, 2010 Share Posted June 25, 2010 Why can no HPCer see it? See what? Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 25, 2010 Author Share Posted June 25, 2010 FTSE 100 5046.47-1.05% 4 days in a row down--and by a reasonably large margin. Just 46 above 5000. Could next week be the rout we have all been looking forward to with a sense of yearning? Whats the big deal about the SM turning bearish? It is said to reflect where we are expected to be 2 Q's from now. Outlook ahead must be bleak--take defensive action now. Quote Link to comment Share on other sites More sharing options...
scappers Posted June 25, 2010 Share Posted June 25, 2010 I'm 50% certain it will open up on Monday. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 25, 2010 Author Share Posted June 25, 2010 I'm 50% certain it will open up on Monday. Well...you could be right as this propaganda/news came out just after the FTSE closed: http://uk.finance.yahoo.com/news/bp-economy-fears-drive-ftse-100-lower-reuters_molt-c9a29daebd09.html?x=0 BP, economy fears drive FTSE 100 lower Simon Falush, 17:10, Friday 25 June 2010 LONDON ( Reuters) - Embattled oil giant BP , hit by renewed worries about the financial impact of its Gulf of Mexico oil spill, and weakness from miners on fears for economic recovery dragged FTSE shares lower by the close on Friday. The FTSE 100 index ended 53.76 points, or 1.1 percent, lower at 5,046.47, its lowest close since June 8 and down for its fourth consecutive session. Even Reuters have notices the highly unusual 4 days in a row down despite all the bad news out there. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 25, 2010 Author Share Posted June 25, 2010 6 Reasons Why the Market WON'T Crash Posted Jun 25, 2010 11:55am EDT by Aaron Task in Investing Barring a huge turnaround today, this week is going to go down as one of the more desultory in recent history. What began with so much bullish excitement about China's steps to lift the yuan is ending with more disappointment for the bulls. Amid renewed concern about financial contagion out of Europe and rising fear of a double-dip recession at home, some observers are comparing the current environment to mid-2008, i.e. before things got really bad. But fear not! There are 6 Reasons Why the Market Won't Crash, according to Wall St. Cheat Street co-founders Damien and Derek Hoffman: ** BP is NOT the ‘new Lehman Brothers'. (For more, see: Is BP the Next Lehman Brothers?) ** The Fed is stuck at zero for the foreseeable future -- if not beyond. (For more, see: Fed's Next Move Is to Ease, Not Tighten.) ** Upcoming mid-terms will spur pro-market policies, especially for housing. ** CEO hiring confidence is at a 3-year high. ** Technology is still driving productivity growth and creating new industries. ** The consumer is NOT dead, as evinced by today's strong consumer confidence data. (For more, see: Apple iPhone Mania Is Actually A Profound Phenomenon.) http://finance.yahoo.com/tech-ticker/6-reasons-why-the-market-won't-crash-509205.html;_ylt=Ap._Dw8TC2FVcLLllUYc9K.7YWsA;_ylu=X3oDMTE2NGttMmMyBHBvcwMxMQRzZWMDdG9wU3RvcmllcwRzbGsDNnJlYXNvbnN3aHl0?tickers=BP,AAPL,^DJI,XLF,FXE,NKE,XRT&sec=topStories&pos=9&asset Quote Link to comment Share on other sites More sharing options...
peakoil Posted June 25, 2010 Share Posted June 25, 2010 i love the way BP are used as a scapegoat to explain the FTSE 100 drop - so why has the FTSE allshare had the same week: http://www.google.co.uk/finance?q=INDEXFTSE:.FTAS Quote Link to comment Share on other sites More sharing options...
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