You Snooze, You Lose

2 mins. to read
You Snooze, You Lose

Re-cap on last Thursday’s calls: Short Tesco (TSCO) at £ 2.17 made it as low as £2.05 within three trading days, followed by the inevitable bounce to about £2.11. I am staying with my call of £1.75ish price target for the patient. The £2.00 level is a major psychological level and when breached will most likely give us a gradual move down to £1.75ish, in my opinion. There are major interests to keep the price of Tesco to above £1.90ish but there is a lot going against Tesco at present and I think it is a fight they will lose.

PLUS500 (PLUS): I am sure there will be a deal done for around the £4.00ish level… and one has to say the shareholders should be very happy they have had a serious approach as I believe this firm was going to go down in an ugly way. I have no position in this stock.

I am long Lloyds (LLOY) at 87p, with a price target of 94p within 4 weeks. Although I rarely make technical calls, I feel the chart is very bullish and Lloyds’ price has kept its strength and made very small but significant advances. It is very close to breaking the 90p resistance, which should make the 94 target pretty easy.

It is important to note that I have been extremely negative on the banking sector since the banking crash of 2008 and my stance has not changed at all. I feel the entire banking sector will experience a major historical consolidation and another banking crash in years to come is inevitable. Having said that, we are still able to trade for the short- to medium-term and profit from the price fluctuations, as long as one keeps at the back of one’s mind that they have no real future in their current form. There will most certainly be a revolution in this sector and I feel investing in banking stocks is not something one should consider as a long term plan.

I continue to stand by my call of DJIA 20,000 and FTSE 7,500 by Christmas 2015.

DJIA has stayed above 18,000 on the close for a number of days now and I feel it shall continue to do so. I feel the bull is just sleeping until we have a significant rush, probably starting at the end of August or the beginning of September.

I do not believe there will be an interest rate rise up until we have hit DJIA 20,000 and S&P 500 2,200.

If you wish to receive email updates, check my website , I do not sell or do business with your details and they stay completely confidential. I write and send updates whenever I have something to say and no one or party has any influence on what and when I express my opinions and thoughts.

Good luck


Clever Games

Always expect success

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *