Member Info for Monaco

Short FTSE at 6013. It looks overbought on any timescale or average...and anyone who knows me knows I am happier on the short side while the policy of all is: pretend and extend. [This attitude can be harmful to my finances at times but I know I am right ;o)] Melt-up is ongoing with light-volume trading while US is on holiday.

It is funny that Mella said on 4 May that it was "confusing having two boards" but then she went ahead and set up a board for Mr and Mrs Breezy in direct competition with the Spreadbetting (II) board. I saw Plays being confused when Mella said it was a new place where personal attacks were not acceptable...and in the same breath attacked Plays personally (though playfully I'm sure). Plays noted this inconsistency at the time. Even more recently, I was also reprimanded by Princess Mella for apparently being off-tone in my posting on her new eutopia but I honestly cannot recall why that was. Oh well.

It is funny that Mella said on 4 May that it was "confusing having two boards" but then she went ahead and set up a board for Mr and Mrs Breezy in direct competition with the Spreadbetting (II) board. I saw Plays being confused when Mella said it was a new place where personal attacks were not acceptable...and in the same breath attacked Plays personally (though playfully I'm sure). Plays noted this inconsistency at the time. Even more recently, I was also reprimanded by Princess Mella for apparently being off-tone in my posting on her new eutopia but I honestly cannot recall why that was. Oh well.

Oooh, that's nice. Wax off, wax on worked a treat. So much for those who thought the markets would drift up on low volumes while everyone was watching the football.

GO DOW! I'm hoping the DJIA can claw back a close at or above 9900. I have cashed my shorts for nice profits. Though I'll be happy to put them back on if appropriate. I feel a little respite is in order.

The clue is in the title: http://citywire.co.uk/new-model-adviser/bank-of-england-warns-on-homeowners-vulnerability-to-rate-hikes/a409673 "if interest rates were to rise to 5% - their long-term average level - British consumers would find themselves just as indebted as they were when the credit crunch hit" Well, of course! Little has changed, few will have used this opportunity to pay down their debt. Indeed, the sheeple were told that the cheap money was to stimulate consumption. Low equity : high gearing affects a significant number of mortgage borrowers. I suppose this should be on PB's house price crash board!

That said, it could be that VAT @ 20%, higher taxes and reduced public spending will be enough to rein in inflation and money can continue to be cheap. I would see the net effect of these as propping the FTSE 100.

3.5% by end of next year doesn't seem out of the question but would we get there through 0.5% increments or with 1 or 2 hikes? http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7768875/UK-interest-rates-must-rise-to-3.5pc-says-OECD.html

More of the same: http://www.timesonline.co.uk/tol/money/savings/article7129687.ece

Building expectations for an interest rate hike to counter inflation. This could prove a strong headwind to any continued bull market: http://business.timesonline.co.uk/tol/business/economics/article7120027.ece

Uh-oh; people talk about interest rates and FTSE drops 1%. http://www.independent.co.uk/news/business/news/sharp-inflation-rise-may-force-bank-to-raise-interest-rates-1949554.html consumer prices index up 3.4% in the year to March retail prices index rose by 4.4% real return on average account, after basic tax and inflation, stands at minus 2.82%

Ooh, it's lush in here. Like the VIP area of a club or something.

Ooh, it's lush in here. Like the VIP area of a club or something.

The big 3 are tanking hard right now. I'm starting to get a bit excited.

Yeah, really. If an individual was so skint that he felt the only way out was to do more shopping you'd have to cut up his cards.

Countries Urged to Plan for End of Stimulus: http://www.nytimes.com/2010/04/08/business/global/08oecd.html Whaat?! This is a bit like "Teenagers urged to start doing chores or saving for things that they want or planning a career rather than bingeing on freely given resources.

Looking like a down day for the DAX and FTSE. I took profits on my hedging longs yesterday. If there is much sign of more gains on the indices I shall place new long CFDs but my focus is on the short. Unhedged, I am seriously exposed on my shorts but I am less concerned about them than I am about keeping a long for too long, feeling that FTSE at 5400 will be seen again this year but 5800 could soon be a distant memory.

DJIA looks like closing down for the day. I think that 11000 will be a tough nut to crack. Obviously I would like for this to be the start of the end of the rally.

Wall Street then FTSE 100 have joined in now in challenging their 10 day emas.

DAX just tumbled significantly in the last few minutes. Went as high as 6295 in the session but now down to 6225. This 'low' threatens to cross the 10 day EMA, at least on IG charts.