BE VERY CAREFUL6 Nov 2019 10:15
As I mentioned before, I sold PMO recently at 83 (a few days too early, admittedly) because I forecast a huge drop by Dow, FTSE and therefore oil, PMO and all shares in general. Any time between today and Monday, the slide will start and will be severe and inexorable. This time of the year has always been the worst and shares and markets have always fallen off a cliff from their record highs. Happened the same last year when all indexes were at record levels and dropped sharply till Xmas. FTSE was 7,600 this time last year and went down to 6,600 at Xmas, losing a whopping 1,000 points in a few weeks. The Dow from 27,000 to 22,000 losing a huge 5,000 points in the process. PMO was 148 this time last year and ended down to 55 at Xmas. ENQ was 38 and finished at 18. CNE at 230 and finished at 138. I’m not saying this is definitely going to happen and of course you are free to think that I am deramping, but you make your choice and I hope it is the right one for you. Good luck all.