Trading Tortoise

Ftse up on optimism about European interest rates. Might well fizzle out again

 11.27

I have taken a little break and have now decided to do a bit more trading again. I feel the theme that we’ll be higher after the UK budget and US election will probably stay in play. The ftse has traded up to 4393 this morning and now is subdued with most markets in the red so this should be a good time to buy if my main theme is right. 

40-70

Week 2

Wall street up again, it’s way too high so that is a concern but support for the Ftse not far below this. China, Hong Kong and oil all lower which has brought the Ftse off the highs of the night.

8295-8325

No stimulus from China over the weekend but China is up, so I take that to be a positive. The bull case is that some of the uncertainty will be out of the way at the end of the month (US elections and UK budget) and we’ll be higher soon. I think that is most likely but it will be heavy going with US markets overvalued, at top of bollinger bands and above moving averages.
8225-8255