Some two weeks ago I wrote that I had gone long poundland (PLND) at £3.21 and insisted that it was a screaming buy and one of my favourite companies. Today the price hit £3.36 in what is still a weak FTSE, I still have a medium term target of £3.60/£3.70. Certain brokers have gone further with a target of £4.10 ish which is not an unreasonable target.
I am still long BHP Billiton (BLT) at a higher price than what we have right now £12.30 ish, but this is one for the pension with a price target of £20.00 plus, let’s face it the population of the world is increasing, we are using more and more and commodities will be getting shorter and shorter in supply as time goes on. With BLT I am backing one of the biggest producers in the world and I think in the long run, it will be a very wise choice.
I have Lloyds (LLOY) long which is kind of hanging around the 85p ish and we need the FTSE to make a move higher for it to rise and break the 90p level.
Did a short-term trade (as per my advice last week) at £2.01 ish and today £2.07 ish.
TESCO does not like dropping below £2.00 and this could well be a scenario where one can grab a little excitement going long TESCO £2.00 ish or shorting it £2.17/18 ish.
I am still with the scenario that DJIA will make it to 20,000 by Christmas 2015, around August time is probably when the bull will start waking up from the summer sleep.
And again I insist the whole bull market continuation scenario will be cancelled if DJIA drops below 17,000. I cannot stress enough the significance of this level as an indicator.
All in my humble opinion and no investment advice intended.
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