sorry, been in a meeting. I wouldn't pay attention to Soc Gen, they are a market making for options etc, they are more a proxy for what the wider professional investors think and none of their positions are for themselves. Personally I reckon theres a rumour going round that profits or AUM will be x% less than expected causing the "hotter" money to go running. Unless you are day trading this I wouldn't worry too much, 119p is still a lot better than we were 3/4 months ago!!
I think Man Group has followed this pattern before. I want to definitely see a close above 120p though. could just be a big shakeout.....the last couple of months have been so bullish , that unless someone knows something, then this will hopefully prove to be the mms taking out stops, etc. I guess quite a few would have been around 120p. we'll know tomorrow and sincerely hope Man aren't going to let us down....again!
Yes - this is getting concerning, took a while to break 120 so needs to be back up sharpish or who knows where it will end today - lets just hope the market likes the look of the results tomorrow - a significant drop the day before is never a good sign. Hope I'm wrong.
Leak or not, you often get irrational wobbles before results day. I think its just intrinsic instability rather than a conspiracy, but I am sure that i the bars around the City there are some people in the know, some who pretend to be in the know, and plenty who would like to be in the know. Todays drop made up my mind to stick. I want 1.50 and can afford to wait. Analysts forecast are all below where we are today and that might be at play with profit taking in mind.
Thanks for that. You are partly right in that the bulk of the Knife Family fortune is stuffed into the most boring pension fund possible, and that a lot of other dosh is in ETF Trackers and funds, but I do have a risky trading portfolio as well, even some very flaky AIMees. What's p*ssed me off recently was that I felt a few wobbles and bought a few stocks I regarded as defensives, including TSCO and BARC which had had falls and looked like a punt but with upside. I have a few strange habits: 1. Never sell at a loss, just wait - timing is all we have control over; 2. Longer term aim to build an 'equilibrium' portfolio for retirement (3-10 years away) where, for example, you own enough Water stocks to pay the water bill with the dividends, enough supermarket shares to pay for the shopping with the dividends, enough oil shares to fill the car etc. Eg you can retire in equilibrium with your spending needs and you own exactly your share of the world, and can live without worry. Just need to find a publicly listed strip club company! :-)
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