Most will agree that trading is probably best in the short term. If you buy in steps with at least five rungs on it then you probably will do ok. Post brexit and due to the high volatility it is probably best to have a 10p gap between each rung and taking a 10% profit. So if you buy at 110, 120, 130, 140, 150 and sell at 125, 135, 145, 155 165 then you probably can't go wrong over the next few months.
LONDON (Alliance News) - Stocks in London opened lower Wednesday, with housebuilders back amongst the fallers, as Barratt Developments said it is preparing for the greater uncertainty following the UK's referendum on European Union membership.
The FTSE 100 housebuilder said it expects to post a 20% increase in pretax profit for its recently ended financial year, on rises in both sales volume and the prices of those houses sold, but said it was "too early" to assess the impact of the UK's vote to leave the European Union.
Barratt said it expects to post a pretax profit of GBP680.0 million for the year ended June 30, a 20% increase from the GBP565.5 million reported a year earlier, after its total completions for the year rose 5.3% to 17,319 from 16,447 and the average selling price of these rose 10.6% to GBP260,000 from GBP235,000.
The housebuilder said it has traded well throughout the year, with good consumer demand seen across its regions, although it noted some increased uncertainty in the higher-value London market.
The company noted that forward sales, including joint ventures, fell slightly, by 0.5% to GBP1.76 billion from GBP1.77 billion, and said it was "mindful" of the greater uncertainty facing the UK economy following the EU referendum.
"Following the EU referendum, it is too early to say what the impact of the uncertainty facing the UK economy will be. The sector continues to receive focused government support, mortgage availability is good and there remains an undersupply of new homes," Barratt Chief Executive David Thomas said.
The stock was the worst performer in the FTSE 100, down 2.4%, together with peers Persimmon, down 1.9%, Taylor Wimpey, down 1.8%, and Berkeley Group, down 1.8%.
as did Galliford yesterday but that won't deter the "ah buts" sadly. worrying also is that volumes have been much much higher since the vote suggesting that bigger players are ducking in and out probably with block trades suggesting to me at least we expect to endure more volatility justified or not then we have seen over theist twelve months or so. jmo
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