Market Direction: Gold above 50 Day Line Targets towards $1,340 Direct Line Insurance (DLG): Gap Floor Trigger for 415p I still find it amazing that RBS’s (RBS) jewel in the crown, Direct Line Insurance, was floated off at around one third of the present £5bn market capitalisation. While it may be said that keeping Direct…
I got on the property ladder by buying houses that needed an awful lot of work doing on them and then doing it mostly myself. I used to punch people who would tell me how lucky I was to have a house. I remember that when it came to selling, one of the agents asked…
Market Direction: Dow above 17,500 Targets 18,000 within Wedge LSE (LSE): 20 Day Line Break Could Lead To 3,500p We should be on the edge of our seats as we eagerly await the fate of the London Stock Exchange, given that after a back story of some 15 years, almost anything could happen. By anything…
Market Direction: Euro/Sterling above 80p Still Targets 83p BP (BP.): Possible Return to November Resistance Now that the Deepwater episode is finally out of the way for BP – at least in terms of the financial liability – it looks as though the oil giant may finally be able to move on. However, we are…
The other day a friend of mine posted on Facebook how it would have been her grandmother’s 96th birthday. Of course what she meant was not anything to do with age, but how she missed her grandmother. It got me thinking about how I must have a male ancestor from 1066 and it would inevitably…
Market Direction: Euro/Dollar above $1.1250 Targets $1.16 ARM Holdings (ARM): 1,170p January Price Channel Target Although ARM Holdings has been a favourite play of mine over 15 years since the Dotcom Bubble burst, all through this period the cynics seem to have been pointing out how the high p/e rating is difficult to justify. This…
I remember when I was a teenager saying to people “if you get three wishes from a genie don’t ask for world peace.” The reply would come “why ever not?!” “Because”, I would reply, “our economy is based on arms sales”. If you read my magazine article “War! What Is It Good For? Absolutely Your…
Market Direction: Dollar/Yen below 111 Points Towards 106 Electrocomponents (ECM): 320p Technical Destination Just for a change we are looking at the mid caps in place of the larger companies in today’s daily roundup, although the selection still includes companies with chunky market capitalisations. First up is Electrocomponents, where it can be seen that it…
Market Direction: FTSE 100 below 6,100 Risks 5,845 Berkeley Group (BKG): Above 200 Day Line Points to Range Highs It should very much be the case that shares of Berkeley Group were a safe pair of hands in current stock market conditions. While this has been true to some extent, those on the long side…
Normally I avoid using news as an entry signal. I’ve written in this very blog about how most news isn’t even news: it’s noise. Company announcements, many government figures – they’re all released, often with careful timing, in order to achieve an objective. They’re basically infomercials. The other problem is that, given it’s in the…
