The FTSE

[flook]

You and me both. I also hold some crypto, as a speculative bet more than anything. In the space of two hours it dropped 20%.

same, but my crypto died months ago so dont even look at that any more

 

[flook]

even gold has crashed today

 

[Millwallawayveteran1988]

My portfolio looks like fucking carnage today, down 20% from 3 weeks ago. The only saving grace is that the markets are down more like 30% so it could actually be worse.

I work with clients and it’s carnage.

At the moment I think it’s a case of leave it and don’t look too much! I’ve never seen a drop like this in 2/3 weeks since 1987.

My Sipp is down similar to you. Maybe more now.

 

[Cheer Up Peter Reid]

Another bottom picker and no less from the author ofthe Motley Fool website which is a right riveting read. A country mile out of his depth with or without tech analysis as there looms another 20% of free fall to get to today's price. A bounce off the 6750 support you say? ...Gets coat and shuts door : /

Friday, 28th February, 2020 by Jonathan Smith

As you are probably well aware, this week has been a horrid one for the FTSE 100 index. It has lost £152bn in value so far, putting it down 8% in trading this week in just four days. Why? Mostly due to negative sentiment from investors who, worried about the outbreak of the coronavirus, are pulling their money out of the stock market. This is because equities are seen as one of the higher risk asset classes, and so these funds will likely either be held as cash (seen as the lowest risk store of wealth) or possibly gold.

For those who remain invested in the market, or who have excess free funds which they are looking to put to work, the big question is where is the market going to bottom out at? When will the falling knife hit the floor?

Technical analysis
This analysis is based on charting and patterns, with the assumption that in some form, history repeats itself. It also looks for previous levels of support or key resistance levels that have been important in the past.

A key level of support is 6750 which is the low from 2019, followed by 6525 which was printed in 2018. Below that is no man’s land, with us then looking back to levels seen at the EU referendum in 2016.

Should we manage to bounce off the support at 6750, then the FTSE 100 has plenty of room to retrace this move back higher, with 7000 being a large psychological resistance level now.

Another gauge is the relative strength index (RSI). This highlights when the market is overbought or undersold, by running an algorithm. It can spit out a number between 0 and 100, with anything above 70 being overbought, and anything below 30 being oversold.

Currently on a daily picture, it is at 15, the most oversold technically since February 2018 (when we last had a sharp sell-off). In 2018, we dipped to 14 before bouncing back to 49 just a few weeks later, which could indicate that we are nearly at the bottom this time in terms of how oversold the FTSE 100 is.

What a load of bollox, as if anyone buying shares is actually thinking I better not buy this stock now since the FTSE 100 is at 6999.99. FWIW, I have bought a few banking/finance shares today and will continue to do so every time there is another big drop (or until I run out of cash!). I might lose out in the short term but I am fairly sure I will be up in 1 year's time.

 

[SilverFox2]

Not a mathematician but if the pound is buying less euros why in the same FT table at the same time is the euro showing that it buys less pounds?

 

[kippax4ever]

even gold has crashed today

And Shithouse paper gone through the roof
With these fking morons..

 

[Churchlawtonblue]

Best not to look at the ftse at the moment. Way too scary

 

[117 M34]

When you originally put it in, when were you planning take it out?

I'm way down over the last few weeks, but I'm planning on using the money I've invested years from now. I'm not concerned by the short term as I confident when I come to take it out it'll be up. Personally, times like now I'm topping up my investment.

I was going to take it out this time next year so should be enough time to recover

 

[Ifwecouldjust.......]

I work with clients and it’s carnage.

At the moment I think it’s a case of leave it and don’t look too much! I’ve never seen a drop like this in 2/3 weeks since 1987.

My Sipp is down similar to you. Maybe more now.

stop the drop .... convert it into cash

 

[dickie davies]

What a load of bollox, as if anyone buying shares is actually thinking I better not buy this stock now since the FTSE 100 is at 6999.99. FWIW, I have bought a few banking/finance shares today and will continue to do so every time there is another big drop (or until I run out of cash!). I might lose out in the short term but I am fairly sure I will be up in 1 year's time.

You are Sheikh Mansour and I claim my camel