Wall Street is in retreat over euro worries April 23, 2012 US stocks fell yesterday as political turmoil in Europe cast doubts on the Eurozone’s ability to push through measures to end its debt crisis and as Wal-Mart sank following a report it stymied a bribery probe. The Dow Jones industrial average was down 102.09 points, or 0.78 per cent, at 12,927.17. The Standard & Poor’s [...]
SELL IN MAY AND GO AWAY REMAINS EFFECTIVE ADVICE April 23, 2012 DIRECTOR OF CURRENCY RESEARCH, GFT FORGET merger arbitrage, forget relative strength, forget long/short hedge books. In investing, one simple strategy has been wildly more effective than any modern, sophisticated computer-driven algorithms. You may have heard the old trader manta “sell in May and go away”. I certainly have, but until I looked up its results [...]
THE TIPSTER April 23, 2012 EasyJet shares have been taking off since last summer, tacking on over 50 per cent to highs of almost 500p. Look for any drop back towards the 460p level to take a long position, as trendline support and the 50 and 60-day simple moving averages should offer a buying opportunity. Spread Co quotes easyJet at [...]
Trading up in a sideways market April 23, 2012 WHEN it comes to the markets, most traders are agnostic about which way the market is moving, whether up or down, just as long as it is moving in a direction. Following the trend is one of the basics of spread betting. But markets move in a non-trending or sideways direction more often than they [...]
Analyst picks for 24 April 2012 April 23, 2012 CURRENCY STRATEGIST JOEL KRUGER My pick: Sell sterling-dollar at $1.6210 Expertise: Technical analysis Average time frame of trades: 3 days to 1 week The market has recently broken to fresh 2012 highs beyond $1.6000. This now likely opens additional upside, back towards the October 2011 peak by $1.6165 further up. While our core bias remains [...]
Fundamentals remain for gold to resume its bull run April 23, 2012 With the US balance sheet more than doubling, it is not gold and other commodities that are expensive but cash that is cheap GOLD has been struggling to make any real breakthroughs of late, stuck below the psychological $1,700 an ounce level since the beginning of March. On the New York Mercentile Exchange, Comex gold [...]
INSIGHT MARKETS April 23, 2012 CHIEF MARKET STRATEGIST THE news of the French election, with the Socialist candidate creeping ahead of incumbent president Nicholas Sarkozy, had the predictable effect of unsettling the FTSE yesterday morning. Although yesterday’s falls have only taken it back to the levels seen around a week ago, it is beginning to seem as if a combination [...]
LONDON REPORT April 22, 2012 UK investors are set for a busy week with a slew of earnings both here and on Wall Street, the release of Britain’s quarterly GDP rate and a decision from the Fed on the US Bank rate. Both the Nationwide Housing Prices report and Nationwide Consumer Confidence report are due out this week and today’s [...]
WALL ST THE WEEK AHEAD April 22, 2012 A SPIKE in bond yields has brought Europe’s debt crisis back to the forefront last week, and traders will be anxiously watching the sovereign debt markets alongside corporate earnings in the week ahead. US economic figures point to steady-but-uninspired growth, and stocks have backed off the sharp gains that recently pushed indexes to near four-year [...]
Insights from a young Silicon Valley startup April 22, 2012 THE RACE is on to turn Britain into an entrepreneurial society. But we aren’t blazing a trail just yet. This global pursuit for innovation remains a one-horse race, with Silicon Valley light-years ahead of the competition. Sam Chaudhary and Liam Don – the British-born founders of ClassDojo – have gone west to strike gold. THE [...]