Tuesday, July 28, 2009

Will the FTSE 100 break a new record today?

How much higher can the FTSE 100 go?

The index closed up 9 points yesterday. That made it the 11th winning session in a row. That's the longest streak of gains seen since early 2004. It's never managed 12 in a row before.

Posted by damien @ 12:52 PM (1704 views)
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10 thoughts on “Will the FTSE 100 break a new record today?

  • Well it’s got a long way to climb to get back to 6930 and if it does we’ll be back to where we were 10 years ago (all time high Dec 1999)

    A bit of profit taking today might scupper the 12 day run but we’ll see what happens when Wall St opens.

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  • Europeanbear says:

    Still in secular bear (which started Dec 1999) – will bounce around between 4000 and 6000 for another 4-5 years before we start the next secular bull

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  • No.

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  • If they can continue to destroy the currrency then the skys the limit, just look at Zimbabwe their stock market is booming.

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  • Well, my opinion for what it’s worth, is that this is a suck in. Personally I see it falling back sharply either during the next 6 weeks when everyone is on holiday or in September when everyone comes back and comes to their senses.

    Perhaps not what the technical analysis says according to the article, perhaps techieman has an opinion.

    And what about Bellwether, are you coming round to Flashmans optimism in equities or are you still bearish ?

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  • 1% drop today – so much for that

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  • paranoia blue says:

    …the big bad bear is back, hopefully!

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  • Hi STR – my opinion is that a short term pullback makes sense as we are overbought – but we could still see some more gains ahead. EVENTUALLY i remain convinced we will have new lows. But i wouldnt dip my toe in just yet. I might give you some levels soon STR 2007.

    Actually i havent got time to read it – will have to go out soon, but will take a look later

    Cheers!

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  • tenyearstogetmymoneyback says:

    I pointed out a few days ago that most companies in the FTSE are Multinationals.
    What is happening in the UK only has a small affect on their profits.
    In fact if the Pound drops profits made in Euros or Dollars will rise

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  • Thanks Techieman, I’ll keep checking back. Interested to know when eventually maybe.

    It’s an interesting point that ’10years’ makes also. Perhaps lending weight to the point that if we did see new lows that it would represent a very good buying opportunity. Although ’10years’ most of the multinationals other markets are also in difficulties.

    As for Techiemans (and my) thoughts that falls could follow an excellent shorting opportunity for those with spread betting accounts perhaps.

    BTW techieman, I’ve been out of action recently so please excuse my absense over the last few weeks. Back now though.

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