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FTSE / DOW YTD

The Papers

FINANCIAL CRISIS - 10 YEARS LATER

Good morning.

The Papers

Good morning.

Good morning!

Boost for May as EU backs Irish border plan

Good morning

Eurobank CEO expects to beat bad debt reduction target

Morning all.

Another day of Brexit ifs, buts and maybes 🔭

Looks to me like the market is starting to move towards a deal being done.

Cable move looks more than noise to me, although I'm not following the headlines today.


Looking forward to RBS at 250 and LLOY at 60 by cop. Rofl. I wish.

This is what's moving markets on 17/9/2018

Thanks Skinny. Fingers crossed for 250 on RBS.

RBS makes 250 in the closing auction.

Trade war fears weigh on FTSE and Wall Street

Well that’s another fine mess you’ve got us into...if it’s not Brexit it’s Trumpet 🚾

Good morning.

The Papers

Good morning.

Good morning!

Good morning. Off we go again. GLA

European stocks open lower as US-China trade conflict escalates

Morning all.

FTSE struggles as cigarette giants fall on growth concerns

Good morning.

The Papers

Good morning!

Good morning

Morning all.

Inflation up to 2.7%. Banks rising on the back of NIM but not much. BOE going to be forced to bring forward rate rises.

UK inflation up to 6 month high at 2/7 %. https://www.bbc.co.uk/news/business-45572856https://www.bbc.co.uk/news/business-45572856

Opps CC beat me to it.

No worries Stan. I was hoping it was enough to push my LLOY back to 60 but not so far.

RBS is doing much better. It's going to make 255 soon, showing much more strength than LLOY these last couple of days. Not sure why, but don't care. As long as they are both going up that will do me.

If you are holding banks, maybe of interest:

"Broker Forecast - Deutsche Bank issues a broker note on Barclays PLC
BFN
Deutsche Bank today reaffirms its buy investment rating on Barclays PLC (LON:BARC) and raised its price target to 240p (from 239p).

Story provided by StockMarketWire.com

Broker Forecasts data provided by www.sharesmagazine.co.uk"


Done B.all for the price.

Somebody must have heard!

Good. About time we were listened to.

Banks really strong today. This afternoon could be very interesting.

Seems to me May's words on Irish border slowed down the rise on the banks but now the buyers have come back

The problem I have at the moment is when I smile usually it is followed by a grimace.

I have to break up some heavy holdings such as AHT, TW., RDW, GLEN into smaller amounts and already hold too many Builders and enough Banks.

Where "goest" the market and for how long?

Dow going crazy. Hope we follow

Strange day. I can read the trade flow but I can't understand it.

There seem to be inconsistent movements all over the place suggesting to me porfolios are being re-positioned.

Most of my stocks up today and took a little intraday.

Good morning.

The Papers

Good morning

Good morning!

Good morning.

Watching Kier. Opened limit up over 5% and now is down 2.4%.

18% of the stock has been lent out for shorting. Results looked good to me.

oh and RBS heading for 260 and LLOY for 61. Strange how fast things change.

Hmmmm - Britain is 85-90 percent of the way to agreeing Brexit deal - UK minister

Markets seem to be agreeing Skinny. The buying on RBS and LLOY looks like traders in a hurry rather than what we've had for the last 3 months is that buyers have had plenty of time to think.

On another topic. Kier the place to be today. Opened at 1100, dropped to 1000, now back at 1100. Think those shorts are going to have trouble closing. Rest of sector doesn't seem that bothered

Somebody put the coffee on.

I wish I could have a portfolio where the choice of movement for more than a day is up.

It seems other than banks what went up yesterday is meandering down to-day.

Perhaps TM is listening to:

"I have overheard their plans
There will be no attack tonight
They intend to starve us out
Before they start a proper fight
Concentrate their force
Hit us from the right."

GBP Retail Sales m/m 0.3% -0.2% 0.7%

UK shoppers keep on spending as August retail sales smash forecasts

Imho the market is mostly wandering around a the moment based on the strength or weakness of the pound based on economic data and Brexit.

Good news on Brexit means FTSE falls due to reduced value of dividends in pounds (e.g. RBSB & BP.). Likewise LLOY should rise on good Brexit news or rising interest rates but often the sell bots just sell everything for a while, until the investors arrive and start pushing LLOY up.

You can see it all over the place right now and clearly see how much of the algo trades are based on the exchange rate. Some of them appear very badly programmed and whilst this has worked for a long time, they seem to fail to differentiate between "brexit is fixed, so profits will fly, therefore go long" and instead go "exchange rate indicates cost of debt rises, therefore go short"


You can see this today on INTU and HMSO. With retail sales figures being really good I would have expected them to rise, based on rationale of retailers profits improve equals rent stable or going up, but deffo not worse. However, what's actually happened is some algo has thrown significant sell volume at INTU presumably on basis of the cost of their debt will rise and repatriated profits in euros will be down as indicated by the exchange rate."
I'm running with good retail sales indicates improving economy equals good for retailers, the algos are running with the opposite. Some 40 minutes after the data the "investors" are starting to arrive and the price has at least stabilised.
Or put another way the algo's logic is "retail sales up" = short retailers. I assume by the same logic "retail sales down" = buy retailers.

So, as I indicated I think some of the current anomalies in the market are due to stupid algo's running proxy trades, which will have worked for the last year but now we come to the turning point, are going to get badly burnt.

At least that's my theory. Make of it as you will. I see rising interest rates as part of a growing strong economy repairing itself after years of under-investment and recession. Others appear to see rising interest rates as the devil in disguise, with the cost of increased debt ready to paint red all over companies profits.

Anyway I'm long INTU intraday. The algo's and one large buyer are having a fight. Neither is winning at the moment. We will see what happens later. So far in 50 minutes I've covered the spread and my trading costs although that could disappear in an instant.

Morning all.

...Well it's like this 🤭

GBP 10-y Bond Auction 1.60|1.9 1.46|2.2

CC,

Thank you.

When, or if, I say my prays before I go to sleep tonight I will read that post again and then ask god to guide me the correct direction during the night as what decisions I should make, if or when I wake up in the morning.

As an atheist, I don't think I will be any more enlightened.

So it will be back to uninformed guesswork.

haha Fred. When I make money I'm completely in tune with the market and a genius. When I lose money I'm still right and the city boys couldn't trade their way out of a paper bag.

Anyways cable getting close to 1.33. A significant move. FTSE is doing well not to fall given sterling strength today

FTSE/DOW without the false April gap in the MAM chart above.

Interesting times. I am off tomorrow.

It's witching. Triple witching I think.

Which means we should get some proper direction once that's over.

Good morning or afternoon for Stan when he rolls out of bed. :-))

Good morning.

The Papers

Good morning!

Morning all...and D/C -);

'There's something the European political elite don't want you to know'
'Are you prepared for the collapse of the Euro?'.

These ads are driving me mad. Does Moneyam really have to sink so low as to accept advertising like this?

Wow Stan, good morning. :-))

Britain posts much larger-than-expected budget deficit in August

May: EU must respect UK in Brexit talks