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Ftse has been below May lows the only other I have seen is ASX
of the major stock markets we are likely to trade on kpad.All that seems to be missing from the Ftse chart(if ath is in)
would be a sharper decline, like -200pts or more in a day.I will be flat into NFP and try and trade the reaction which
can be more fun stateside as they will not be in rth and
that can result in an ooh and rth reaction.Never give up, never surrender.
39th June? Lol
Specsavers for you Dan 😉
thought it was a clever Greek deadline extension….
I have made lots of promises for 31st June 🙂
Stock markets seem more in unison now and I would not
like to say if they find support or crank down hard.One possible outcome is that niether bulls or bears
get it all their own way. For example we drop more
and then bounce next week, even if that is only
to be a lower top / last chance saloon.I am still not trading.
Never give up, never surrender.
Very late in the US session I opened a Ftse ooh position
even though I think we will rally quite soon. So it’s
a banker, maybe not for next week but who knows.Small short Ftse 6822
Never give up, never surrender.
Ftse pattern and indeed some other markets is a close call
where you end up thinking it could go up or down and that
is no use for a trading plan.I see the larger risk being down and so that will form the
main part of my trading plan for next week.Never give up, never surrender.
I think we have to look back at the history of modern markets
to show the way forward for two particular issues.Stock market valuations have over reached themselves in that
they do not reflect future growth prospects. Hence they do
have to fall and realign with reality.After World War 1 the UK had a lot of debt and these loans
were undated and low interest. Hence the current huge
debts around the world have to be transfered to an
undated status. Most likely to be written off by
our children or their children. This will avoid
defaults and all the hoo ha we hear today.Never give up, never surrender.
An example of my second point above.
In the UK the BoE has bought(and holds) the lions share of government debt.
Both of these bodies are owned and or work on behalf of the people of
this country. Hence ‘we’ are both creditor and debtor and are in a
unique position to square the books by erasing the debt.It may take a while for this idea to be adopted but of all the ways
the UK debt could be settled, this is about the only one I can see
which does not involve, suffering, riots and many tears.Never give up, never surrender.
With the Greece bailout circus there are two standouts here to.
Around the world we encourage people to vote and in Greece the
people have voted for change. No future agreement which does
not take this onboard has any hope of working, ever.Any loan has a creditor and debtor and both have to be held
responsible. Look at how we now see US subprime and who we
now blame for that.Never give up, never surrender.
Re Bank of England:
In 1977, the Bank set up a wholly owned subsidiary called BANK OF ENGLAND NOMINEES LIMITED, a private limited company with 2 of its 100 £1 shares issued. The objectives of the company are:
“To act as Nominee or agent or attorney either solely or jointly with others, for any person or persons, partnership, company, corporation, government, state, organisation, sovereign, province, authority, or public body, or any group or association of them….”
The two shares belong to the bank itself and John Footman who only holds it on behalf of the bank. The directors of this private limited company which is a subsidiary of the bank are John Footman and Andrew Bailey who are both employees of the bank itself.
This company is very special as its protected by the official secrets act, its Royal Charter status and is exempt from the normal disclosure requirements that other companies have to comply with to meet section 27 of the Companies Act 1976.
The war bonds that became worthless…some poor sod took the hit on them Cimac. I remember reading about the same situation in Weimar Germany. The public bought all these bonds (national duty rubbish). They thought they were secure ways to save their wealth. Alas they lost it all, and those that saw it coming sooner than most scrambled for real assets – gold, silver, a piano, a bag of potatoes. Pretty basic stuff but what do people trust when fiat currency fails big time like in Weimar Germany?
I don’t see how they reconcile the current debt without some type of big negative impact. I suspect they’ll ultimately inflate it away so it’s not an ‘announced default’ so to speak.
there again we are assuming ‘they’ stay in control of the market and it can be managed. If for example, the bond bubble pops due to some player being in over their head, I don’t think they can control it. The bond market dwarves the stock market. I think the proverbial ‘black swan’ will fly in. I don’t think they will manage it away.
I bought 16 cans of tuna fish last week lol… Keep me going a bit longer if it goes wrong 🙂 Long tuna futures… 🙂 No point owning gold if I have no food. Also have a garden full of beans and courgettes lol. Again, not gonna sustain me all year but will help 🙂
Gotta go open my garden centre shop now… A bit late…
Dan.
Well if the debt exit is hyper inflation then we
will have to hope for the same kind of luck that
the Weimar had with the Rentenmark.Never give up, never surrender.
Ftse ideal end pt for this move(unless it truncates) is
still 7250 (mid) with a possible extention.
Time either Bradley 9th window or new moon 16th window.So we have either truncated in price and time or we
rally with some strength, very soon.Hence I have only a small short to guard a truncation
and will closed or add most likely early nextweek.Never give up, never surrender.
Small short Ftse 6822
Closed 6802 because I am out today.
Never give up, never surrender.
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