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House Price Crash Forum

A Spooked Market?


FreeFall

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HOLA441
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Nah, it's oil again, crude prices have slipped and that's dragged the FTSE down oil and engery Cos make up about 20% of the FTSE.

BP and Shell are both down. Silly really as the oil price is just falling because Katrina and Rita did so much damage to US refining capacity. It'll soon be back up over $70pbl ;)

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IMO it's slowly dawning on the markets that there may be trouble ahead (cue the music...). What with the Dow Jones close to hitting significant lows (and this just after the FTSE 100 had reached 4 year highs), another cautionary speech from Merv, increasing doubt over the stability of the UK & US economies, job losses cropping up left right and centre... there's just too much bad news coming out at the moment.

Anyway, I've decided to cash in my meagre holdings today (I'm sure the market will miss my £8K!). My time as a shareholder was always going to be a short-term affair. You can call it panic selling, but I think it's time to move onto something else.

So that'll be £8K on red please...

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