Posted in: forex-and-indices
RE: FTSE 1001 Jul 2008 14:24
Hi TandH at what level do you think the run on ftse 100 will end. i believe support is at 5350. If it breaks 5350 then anything is possible. We have to remember though shell, bp,hsbc, gsk, rio tinto, anglo american,bg group, bats are 9 of the 10 most capitalized shares in the ftse 100 which have not been affected really by the downturn. which makes me think all the others esp banks & retail and any others that use oil have been seriously killed already and if they are killed even more then then they pose too much of an oppurtunity. We know now that there is a large shift in weighting (capitalization) in stocks e.g bp being worth 108 bill whereas lloy only being worth 16bill. That wealth will need to be distributed back over time, the ftse is too uneven at the moment. BP, shell etc are worth too much whereas others are worth too less! back to the days where we have to light a candle lol.