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NASDQ has taken a hammering yesterday and continues it's downward trend. FANG stocks taking a bashing along with Chip Markers so taking majority tech stocks down - U.K just following. I think the U.S tech stocks hammering will continue.
In terms of the U.K, it's not just Sophos that's down today - majority of non-tech stocks are down. FTSE always follows the DOW / SP500 / NASDQ.
Market will continue to be volatile until the U.S markets show some stability.
have to agree with ll you say FTSE12. having sold out shortly before the last update i was expecting a significant recovery following the sell off and have been on the point of buying back in a couple of times but fortunately(luck not judgement) have held off as worried by general market negativity.iwill probably continue to hold off until i sense a change in overall sentiment whenever that may be.
I'd still keep an eye on the SP. I think it's likely that the U.S tech stocks will continue with their downward trend (the big names e.g. Apple & all the Chipmakers all appear to have no positive momentum whatsoever and have been hammered over the past month or so. I can't see this changing in the short-term.
Even the great Warren Buffet has got the Apple Call wrong.....but yet again, he holds for the long term....and can afford to.
I certainly wouldn't hold Sophos until the next earnings update - every update crashes the stock by 20% - 30%.
Who knows when the market volatility will end....IMO, it'll only happen once Trump comes to some agreement with the Chinese......his trade war will only end up damaging the U.S economy.
Amran, if I were you, I'd get out when the next mini bounce comes. I think the U.S tech stocks will continue to get hammered for a while yet. The bell weather was Apple and now it's on a downward trend. The negative sentiment amongst the large U.S tech stocks appears to be gaining momentum.
I personally wouldn't get back into Sophos if it falls ( could be a falling knife.....the P/E is way to high - was ok when the U.S tech stocks were doing ok, but now the tide has turned on the tech stocks.....all this impacts any UK tech stocks. The market volatility will continue until Trump comes to his senses on the China trade war.
Recent guidance from the large U.S techs is not great and to some extent this is dragging the whole market down (not just tech stocks). Yes, my view has changed over the past week - due to too much negative news coming from the U.S tech sector. Sometimes you just have to make a judgement call.
I got out yesterday - market signs were not good.
Sophos have a good product - but the market will determine what is and what is not a reasonable SP.
i don't like to give advice so please don't take this as such but I've just read FTSE12s post of 15.18 and i think it encapsulates the situation extremely well.sorry for the truism but i do think it is much easier to lose money than make it and recovering lost ground is usually much harder than losing gained ground.i am therefore largely sitting the market out in cash awaiting developments and a change in sentiment .ive traded sophos quite a lot over the last year or so but i don't think I've to the nerve for it at the moment as its trading pattern was i think reasonably predictable for most of that time (there were couple of extreme movements but they still presented trading opportunities to my mind) but now it seems to have entered a different landscape with which i am not comfortable.just my opinion and probably wrong.good luck with whatever you decide