15 September 2008
Dead cat bounces
While I'm far from being an expert, all this investment banking panic seems to present an market opportunity. I still think the FTSE100 will bottom out at 4,500 (give or take 10% - see, I told you I'm no expert...), but this Lehman nonsense will cause an overselling today and maybe tomorrow. That generally provokes a bounce. If I wasn't neck deep in National Savings, I'd be buying the FTSE at 5,000 and looking for 5,500 as a sell-out point before the bear run continues...
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2 comments:
How wrong I was!
Now a buyer in... probably Feb, looking for 3,500-ish.
Hmm. Might be closer to the mark. FTSE 100 at 4,000 with a tricky reporting season coming up. Using the old adage "sell in May and go away", perhaps re-enter the market in early September if it's still around 4k.
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