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No6

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  1. No6

    Slow hosting

    Very few if any problems accessing the site after 1pm UK time. Have not noticed any slowdown at all after this time. Prior to 1pm UK time it is unacceptably slow for several hours and at times an unable to connect to server message appears. Sometimes the site is down during this period. In my experience at no stage has it been down the whole time prior to 1pm UK time, but no one should have to wait several minutes for the page to change either. The host is providing an appalling service, the answer is to either get them to sort it out and provide the service you are paying for or move the site.
  2. Alvin Hall - Financial problems will hit UK Money man Alvin Hall says British people feel the financial crisis is a "problem across the pond" and do not yet understand how it could affect their lives. http://www.bbc.co.uk/news/uk-politics-15124479
  3. It seems that he is a private trader who for some reason the BBC latched on to. He clearly doesn't work in the city, but he does have that somewhat flash stereotypical trader look that many might recognize from Hollywood. He seems more of a marketing type with something to sell. Having said that, many of his comments rang true, the Goldman Sachs ruling the world one probably being the best. The BBC have had another go at explaining it all. This is his latest market video. http://www.youtube.com/watch?v=nG4WtnuhX5c&feature=player_embedded#!
  4. Just who is Alessio Rastani? Hoax or for real? http://www.youtube.com/watch?v=7v9L-t3gxzQ Was the BBC's trader from hell one big hoax? Claims greedy dealer praying for a recession in which to get rich was a FAKE The 'trader' at the centre of a controversial interview, in which he claimed the City just 'loves' a economic disaster, was today accused of being a hoaxer. Twitter users took to the social networking site to 'out' the City trader as an imposter and claimed he was a member of a group of hoaxers, hours after an astonishing interview on the BBC. Interviewers were left open-mouthed as Alessio Rastani admitted that traders 'don't really care that much' about the prospect of an economic collapse. He astonished BBC viewers yesterday by describing his hopes of profiting from a recession, adding: 'The governments don't rule the world - Goldman Sachs rules the world.' http://www.dailymail.co.uk/news/article-2042291/Alessio-Rastani-Claims-greedy-dealer-praying-recession-FAKE.html BBC financial expert Alessio Rastani: 'I'm an attention seeker not a trader' He's become the face of the global debt crisis and an internet sensation. The self-styled City trader who stripped away the jargon and bluster of the financial world and summed up our woes in just three minutes. "I go to bed every night dreaming of another recession," Alessio Rastani explained in a BBC interview. "It's an opportunity." ================== How a man who has never been authorised by the Financial Services Authority and has no discernible history working for a City institution ended up being interviewed by the BBC remains a mystery. The incongruity led to some commentators speculating Mr Rastani was a professional hoaxer. The BBC denied the allegation: "We've carried out detailed investigations and can't find any evidence to suggest that the interview with Alessio Rastani was a hoax." However, the BBC declined to comment on what checks, if any, it had done prior to the interview. Mr Rastani was a little more forthcoming. "They approached me," he told The Telegraph. "I'm an attention seeker. That is the main reason I speak. That is the reason I agreed to go on the BBC. Trading is a like a hobby. It is not a business. I am a talker. I talk a lot. I love the whole idea of public speaking." http://www.telegraph.co.uk/finance/economics/8792829/BBC-financial-expert-Alessio-Rastani-Im-an-attention-seeker-not-a-trader.html Trader was not a hoaxer, says BBC A financial trader who appeared on the BBC was not a hoaxer, the broadcaster has said after doubt was cast on his credentials. It issued a statement after Twitter users suggested that Alessio Rastani was not a trader. "We've carried out detailed investigations and can't find any evidence to suggest that the interview... was a hoax," the BBC said. http://www.bbc.co.uk/news/business-15078419 I am an experienced stock market and forex trader and professional speaker. I have had the privilege of learning from some of the world’s greatest traders. I have a strong foundation in US and UK stocks, using precision timing and tools for entering and exiting the markets. My belief is that anyone who wants to improve their income and achieve success in life, cannot afford to ignore learning how to trade. The problem is that most people are under the illusion that they can do it themselves – often without any proper knowledge of how the markets work and taking measures to minimise the risks involved. http://www.leadingtrader.com/about/ So, who are the Yes Men? Identity Correction Impersonating big-time criminals in order to publicly humiliate them. Our targets are leaders and big corporations who put profits ahead of everything else. http://theyesmen.org/ If you look at his blog, his Twitter account, and his interview with Forbes, not to mention his notorious BBC interview, it’s pretty clear that Alessio Rastani is, at least in part, who he says he is. The Yes Men do set up elaborate hoaxes, but they do so with respect to large institutions: they wouldn’t put this much effort into inventing “Alessio Rastani” out of whole cloth. Mostly because there are lots of genuine traders like Alessio Rastani floating around the internet already. They trade their own money, they sometimes win and they sometimes lose, and they aspire to getting famous on the internet and selling their own trading advice. That said, however, the resemblance to “Jude Finisterra” from the Yes Men is startling. Which raises the question: is it possible that Rastani is both a trader and a member of the Yes Men? And the answer there, I think, is absolutely yes. Independent traders are, well, independent — and you don’t need to spend very much time hanging around the comments section (or even many of the posts) at Zero Hedge to discern a strong nihilistic and even anti-capitalist strain to much of the thinking in that community. Independent traders are often men in their 20s and 30s who inherited a substantial sum of money and who for whatever reason don’t have a more attractive opportunity in the regular workforce. They work from home, they tend to have a strong contrarian streak, and they have a lot of time on their hands. http://blogs.reuters.com/felix-salmon/2011/09/27/is-alessio-rastani-a-yes-man/ Jude Finisterra hoax. Bhopal Disaster - BBC - The Yes Men http://www.youtube.com/watch?v=LiWlvBro9eI
  5. Don't quite follow. You didn't sell and take the profit or did you? It could be worth 50 or 60 in a year or so, but if your decision to buy was based on a short term swing trade then to hold it for the long term from here would be a risky decision. It can easily go down a lot again. There will be plenty of ups and downs in the Lloyds share price over the next two years to get back in. A decision to sell on the basis of a swing trade, having bought at 33.9 was probably correct because it is now well into overbought territory. You've made around 10% very quickly, for a swing trade that is a result. Trading is 90% psychology IMHO. Trading systems are 10 a penny and many work, while an individual's psychology often doesn't. If you cannot overcome any psychological hangups about trading that you may have than it probably isn't for you. I'm still working on it and this is one area that you will never master overnight. It had a good run recently and then sold off in line with the market falls and then some. I read one market report when it fell 20% in a day that no one could see any reason for it. I would agree, it could easily come back just as fast, but these oil growth companies can be every bit as volatile as small gold and silver miners.
  6. Buffett seems to like shopping at Tesco.
  7. Markets seem to be reacting positively to this, but there again they were oversold so a rally was not unexpected. EU seems to be working to a 6 week time frame from here whereas the markets want something quicker, wonder who will give in first? I suppose it depends on whether the markets begin to throw their toys out of the pram again or not. 5400 or so on the FTSE looks like the new 6100, as the hurdle to be overcome, 4 times since early August it has failed to break through, we could be seeing another attempt now at breaching it. Lots of mining shares with some catching up to do on any rebound.
  8. Here's a different view, perhaps even a real contrarian one, of what is going on.
  9. Falling knives. Some big falls today especially amongst the miners. Vedanta Resources (VED) 1,117.00p -13.28% Antofagasta (ANTO) 972.50p -12.70% Kazakhmys (KAZ) 846.50p -12.37% Fresnillo (FRES) 1,709.00p -11.68% Rio Tinto (RIO) 3,023.00p -10.80% Lloyds Banking Group (LLOY) 32.51p -10.09% Burberry Group (BRBY) 1,361.00p -9.81% Eurasian Natural Resources Corp. (ENRC) 569.50p -9.75% Xstrata (XTA) 849.50p -9.61% Barclays (BARC) 138.85p -9.40% When should you try to catch them? I have a general rule not to, wait for the charts to show they have settled and a new uptrend/bounce may be starting, but it is probably important to distinguish between different types of falling knives. I tend to go by the following general rule. Falling knife - bad company - bad results, very high P/E, no dividend, reputation on expectations, etc, steer clear. Falling knife - good company - good results - making money - lowish P/E, pays dividend or re-invests as miners tend to do, falling because of general market fear, etc, wait for the right moment to get in, assuming you have done your homework on the company and it fits in with your rules to buy. I would say that all of the miners above are pretty good companies, but the worst may not be over for them in current market conditions.
  10. Naked Trader, Robbie Burns could be right with his latest blog.
  11. More inclined to believe a rally, as there would need to be an event to set in motion a repeat of 2008. We tend to be in a repeating pattern of market fears based on possibilities of what might happen at the moment which after a while subside when nothing immediate has happened and the market starts to tentatively rise again. Then the fears come back and the markets tank a little as the profit takers jump in and wait for things to settle. So far there has not been a definite event, a bank going bust (Lehmanns), a country defaulting, a policy failure, to push things over the cliff. There hasn't been certainty either, so markets continue to feel more fear than cheer. It is possible that we are at the beginning of a slow, bear market leg down, with significant rallies along the way. The 200/50 dayMA is suggesting this may be the case.
  12. The Fed statement looks the same as before. The markets must know that more QE would result in a negative response in Congress, but then the markets would apparently like to see more being done about the deficit. Perhaps it likes QE, because most of that money heads its way via the investment banks, etc. It gives them more to play with, although as they often use it to play commodities the end result would be more price inflation down the line. The Fed statement also said that they would use the tools available to it as appropriate, but it would appear that the market always needs Ben to come out a day or so later to hold their hand and state it for all to hear. Do the people in the market actually read the statement? BoE base rates to follow the same path until at least 2013? Most likely I would have thought, especially as 1.7million in the UK now face negative equity if house prices fell another 10%. Continuing nasty times for savers though.
  13. Tesco go on the offensive. Could be bad news for Ocado.
  14. Interesting that the Fed did not give the market the extra monetary stimulus that it desired and stocks are now falling back heavily again. I'm still convinced that the market doesn't really know what it wants, stimulus or cutbacks, or both! Depends on its mood at the time it would seem and if it coincides with a bout of profit taking after a rally, then anything will do.
  15. They will then probably come up with something else. This is the way this financial system works. Too many people seem to think that there will be an end game, many of these link it to their own political and economic opinions. Most of the time they get it wrong, but a bit like waiting for a bus they then bet on the next crisis to come along that will prove them right. I can easily imagine that there will be no end game, just more of the same, or some clever plan that will use the twin levers of time and inflation, along side economic and financial restructuring to sort things out. We are heading into that time of year which is usually good for equities, so as long as the market feels the immediate euro zone problems can be put on one side, they may get happy again. May not happen. What they need is a cunning plan, one that stretches things out over many years, but recognizes that Greece will be a basket case for most of that time. The issue is then sidelined, the market will be happy as long as something is seen to be done. It won't necessarily be what many think should be done, but as long as the markets buy into it things could muddle on for years. The EU know they cannot let Greece just go to the wall, if that were to happen, Portugal would be picked on next, then Spain, then Italy, all the way up to France and yes, the UK. There's too much at stake.
  16. It may be cheap, but that won't stop the price going up and down over the next 6-12 months. As to where it might be in 6-12 months time, the weekly and monthly charts may give you the best answer. If your intention is to swing trade than you will look to catch those swings on a timeframe that would probably range from hourly to daily charts, with the weekly and monthly chart as a reference to the long term trend. It is sometimes difficult to mix the two, after all, why swing trade some and not others?
  17. Amidst all the doom and gloom, some UK retailers seem to be doing very well. These two are in the homeware, home improvement sector, suggesting that as people stay put they are doing up their homes.
  18. China states price for Italian rescue. Will they start buying Western equities?
  19. Be careful with those banks, you can easily lose 5-10% in a day if the market gets jittery about the flavour of the month gloom spot Europe at the moment.
  20. Now 406, this one is looking quite good. Are you swing trading it or longer term position trade? If it's a swing you have a nice profit on this one of more than 10%, so you may want to be looking for signs of a reverse, profit taking by the market, unless you are looking to hold for months.
  21. There has been no mention of them dropping their dividend and while sometimes a high dividend yield may indicate future problems ahead, Aviva's debt is seen as being manageable. I think it has fallen because of general feelings about the finance and insurance sector. For those interested in dividends it looks a gift right now provided you are prepared to live with the volatility of the actual share price.
  22. Quality companies still keep announcing good results and few are worth a mention. Be interesting to see how these do going forward. Morrisons' People still gotta eat. Ashtead This is an interesting one because it supplies the construction industry, but it does with equipment on loan. The construction companies are not keen on buying equipment right now so increasingly they rent it. Ashtead seems to be doing very well out of this. Safestore Perhaps more of a risk going forward, but this one is doing well out of people using storage space more.
  23. I haven't come across any others, especially dealing in UK based shares, that offer what Burns does. Most of them tend to be US based and concentrating on US markets. They also will usually charge for the more "advanced" or "tips" information. The Naked Trader site is the only one that I have come across where trades are listed free and has survived the test of time. Unfortunately, as he does not update as often these days there are inevitable delays in when he lists his buys and sells, which may lead some to question if they are genuine, as by the time they are published they have often gone up 10%+ already! Not that anyone should follow him blindly as he is quite open on his site that not all trades or size of trades are listed. The main spin off for him from the site would be his seminars, now £550 a pop, and his book sales. He also still does the Utility Warehouse (Telecoms Plus) distribution business and he's stated in the past that most of his income actually comes from this. So, financially he doesn't really need the site, but it would be a shame if he packed it in because it is a good read and you can learn a lot from the simplicity of his approach. I've always liked the fact that he doesn't do economics, follow gurus, or take a doom and gloom approach to things. All of that, often the backbone of many forums these days just gets in the way, he figures there is always money to be made in markets and he has made a ton of it from his strategies despite the bigger picture that many like to focus on.
  24. Sometimes the smaller companies that he buys don't move at all when the main markets are in free fall. I've often wondered how he managed that. He does say this in the latest update.
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