You snooze you lose… Dow 17,000 is the decider

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You snooze you lose… Dow 17,000 is the decider

Just to re-cap… The TESCO (TSCO) share price is doing its usual dance between £2.00 and £2.20, and unless there is some news on the very negative or the very positive side it might stay within this range for a while. It is a good day trader/short-term trader stock.

I must say I have noticed that the big four supermarkets having convinced us that they were competing and cutting prices are back to their usual tricks. I can hardly see any bargains in Sainsbury’s anymore; they are back up to the very high prices they had previously, and on some products they have gone even higher. Tesco is doing better on the discount front and so is ASDA and to be honest does anyone shop at Morrisons unless they have to?

Poundland (PLND) one of my favourite stocks of 2015 has broken through the £3.50 resistance level. I had a screaming buy on Poundland at £3.21 (now £3.56ish) but I feel it has room to go higher, maybe to £4.00, but holders will have to be patient.

Lloyds (LLOY) will be back up, give it chance. Once it is fully privatised they will push the price up, the bankers in cahoots with their Government (not our Government) did a good number on us, the UK taxpayer. It was all planned this way and they always pretend they did not know what they were doing… it was mismanaged etc. Not so! It was all managed to make them money at our expense.

Now onto the DJIA 17,000 heading… what of it? Well, I have been writing here and everywhere else that we are heading for DJIA 20,000. I am still sticking with that scenario for Christmas 2015.

The only and I mean only thing that will scupper this scenario for me and signal a large correction or a crash is if DJIA drops below 17,000. If it does, the bull market is over.

I feel 17,000 DJIA is an extremely significant number and if it breaks it certainly means that a new macro game plan is being played out.

Good luck!

All in my humble opinion and no investment advice intended.

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