Tomorrow, Thursday10 Oct 2018 22:35
For a moment today I thought the SP was going to go for the night before XD day and grab 240p. But this is more than good enough as it is.
Now, tomorrow.
There are two games being played out here. BT's defiant gently uptrending SP over the past handful of months. And the wider markets, most notably the US markets. For the past 6 or 7 days I have been feeling very uneasy with the volatility index of the markets in general. It's at bear market readings.On average a lot of shares are at what might be called bargain area as they've been under assault in that time. BT has escaped the wider market wrath
Turned on the Finance channels tonight and they matched the volatilty readings I'm on about. They're badly down. It's so bad that I think the FTSE100 will get hit seriously tomorrow, Thursday, under the guise of they cough over there and we sneeze over here.
Actually It's been making me feel quite off with concern. (Perhaps I need a holiday) So did the only thing left to make me feel better- and took action and started building short positions on the FTSE about an hour ago. If I'd come to my senses earlier I'd be in 4 figures profit already, but have only opened small positions and such is the ferocity in the after hours FTSE Index I'm already in profit, but just small amounts.
I'm posting this, because BT has been impressive how it has defied the wider market shenanigans. Some might remember in the height of the summer when I went on a value hunt on BT and wrote up half a dozen pages on the "value" metrics I found in BT?
Well I had it confirmed by a little snippet I caught on the finance TV channels. They've took a battering on the US markets by close tonight, but they were nusing that whilst growth, tech and hot stock big names have all been hit this week, "value" stocks appear to have weathered the storm much better.
And that's the longwinded point I'm making about Thursday and BT. If as I fear it will be a very testing day for the FTSE100 tomorrow and all UK markets in general, it doesn't mean BT automatiically gets put in the firing line. It's a "value" stock, and if what holds true over here as it does over there, BT could escape the worst of tomorrow.
This is all assuming that UK markets hit the buffers tomorrow, perhaps I'm 100% off the track here, and nothing of the sort happens. But whatever, I think BT should sail through it well. As I said the only thing for me to do was put actual money where my mouth is so I've shorted the FTSE tonight. Just checked - and GOSH! I'm well up already increasing again!
- those shorts I placed are barely an hour old - which means the more I make, the more the FTSE is going down tomorrow.
I hope all that makes sense. A bad day on UK markets tomorrow, but reasonably confident BT will be "protected".
I don't know if the FTSE100 is tradeable 24/7 through the night or closes at 10 or 11pm - If I'm still about will post if profits have increased further (indicating a bad day here in the
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