Off Topic EU deabte. Which way are you voting ?

Please refer to my last post!....

 

The banks have lost Billions already and the stock market is in turmoil and many businesses will move from the UK altogether if we leave. Voda phone have said they are moving anyway as they have had enough of this shambles.......Trade is down massively as countries wait to see the outcome and scotland have been told they cant do any deals as they are a part of the uk.......We all know now that they will demand to leave the UK and so will NI so it is getting much worse for boris who though he would get a smooth ride......How wrong can someone be....

 

This thread is starting to reek of desperation.

 

... they'd me more readily identifiable if we made them wear badgers...

 

... that's the new fragrance from Givenchy ... unfortunately it will now cost a lot more over here ..

 

... we could give them Coventry... it's a ghost town... there's a song that confirms it ... we could even send them there ..

 

Well the foreseeable future seems to be doing okay, considering the market shock. There is a way to go and more volatility to come (it's a market strait that serves traders nicely). Some of us said to calm down, an expert predicted chaos until we know our EU future.

I've posted this as a 'stake in the ground'. I am sure we will all be interested to see how this progresses. How long is the foreseeable future? I do welcome our resident expert keeping us all up-to-date with his advice and predictions, it will make interesting reading, as ever.

N.B.

I have copied the whole piece for balance and for those who struggle with phone links.


The FTSE 100 has surged through the level it closed at last Thursday, recovering all of the ground it had lost in the wake of the Brexit vote.

The pound also strengthened against the dollar and euro, while Wall Street's rally continued for a second day.

Some investors say last week's sell-off was overdone, while others are betting on central banks to rescue the global economy if needed with more stimulus.

"It never was the end of the world," said strategist Jeff Weniger.

The senior portfolio strategist at BMO Private Bank in Chicago. said: "To have these kinds of reactions was ridiculous."

The FTSE 100 share index closed up 3.6% at 6,360.1 after a flurry of last-minute trading.

At the close of trade on Thursday last week, before the referendum vote, the FTSE 100 ended the day at 6,338.10.

"The plethora of bargains on offer, plus a welcome period of calm in the UK/EU relationship has provided the opportunity for markets to recover in impressive fashion," said Chris Beauchamp, senior market analyst at spread betting firm IG. he added.

'Wishful thinking'

However Joe Rundle, head of trading at ETX Capital, warned reality was likely to bite soon.

"What we're seeing in the FTSE is hope in Britain being able to ride it out by remaining part of the single market. This looks like wishful thinking."

The FTSE 250 - which contains more UK-focused companies - closed 3.2% higher on Wednesday, but still remains more than 7% below its pre-Brexit level.

Germany's Dax index ended the day 1.8% higher while France's Cac 40 closed up 2.6%.


The pound rose 1.2% against the dollar to about $1.35, although it also remains well below levels reached before the referendum.

The pound had risen as high as $1.50 on Thursday as traders anticipated a 'Remain' vote, but by Monday it had plunged to a 31-year low against the dollar.

Sterling rose 0.8% against the euro on Wednesday to €1.2159. Before last week's referendum it had been trading around €1.30.

On Wall Street, the Dow Jones index rose 1.64% and the broader S&P 500 was up 1.7% in the strongest two-day rally since February. The indexes have recovered more than half the losses suffered last week after the UK's referendum vote.

Shares in Asia had also posted gains.

Still stormy

Michael Hewson, chief market analyst at CMC Markets, said investors had been reassured by hopes that Britain's EU exit wouldn't happen immediately, meaning the status quo was unlikely to change in the short term.

"Whilst that doesn't remove the uncertainty with respect to the eventual outcome, it also means that markets are going to have plenty of time to settle into their new-found reality and equilibrium," he said.

But Adam Jepsen, founder of Financial Spreads, urged caution: "Any investors who think the markets have calmed down should think again. It is far more likely that we are in the eye of the storm."

Shares in the UK's financial sector - which had been particularly hard-hit in the wake of the referendum - continued to recover, with Prudential up 5.5% and Barclays 4.9% higher.

The increases came despite credit rating agency Moody's cutting its outlook on the UK banking sector to "negative" from "stable" late on Tuesday. Moody's also downgraded its outlook on the ratings of a number of UK banks and insurers.

After losing some ground on Tuesday, the price of gold rose 0.4% to $1,317.75 an ounce.

Gold is viewed as a safe asset in times of uncertainty and the price of the precious metal hit a two-year high on Friday in the wake of the referendum result.

Government bonds are also considered safer investments. Continuing high demand since the referendum meant the return on 10-year UK government bonds remained close to Monday's record low, when the yield dropped below 1% for the first time.

High demand tends to push up bond prices, and when the price of bonds rises their yield falls.

 

About as wrong as you; certainly no worse.

 

Yes and it's all coming from Boris.....He is desperate to find a solution that is not there...

 

I didn't realise Boris had posted on this thread.

 

Any Outers prepared to give up access to the single market/free trade if it means also having to accept free movement?

 

A lot of that is correct. I don't buy the theory that investors are betting that the UK won't actually leave the UK. It's possible that some speculators who go for higher risk strategies are doing just that. But it is high risk.

The main reason for the rally is short covering. Investors, traders, scalpers who were short from late Thursday onwards (which would have been most of them once it began to appear that leave were likely to win) will have made some good profits. As there doesn't look like being any new significant news in the immediate future, they've done what I would do in the same situation, take profits.

For those who don't understand how this works, if you are 'short' you have sold something that you most likely don't actually own in the hope that you can buy it back later at a lower price before delivery on the contract becomes due. Consequently, those who were short have to buy the index, or the underlying individual stock to cover their short position. This naturally causes a temporary rise in that index or stock as there are many buyers. Once you have done that you are 'flat'. Next thing is to look for the next opportunity to make money. That will almost certainly come as this whole saga unravels.

 

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You're wasting your time mate. The outers on here have convinced themselves that it's now all sweet as a nut. Most haven't got a clue about how the markets actually work, and what will happen the minute article 50 is actually actioned and sets off a chain of irreversible effects. They'll find out in due course. In the meantime let them celebrate their 'victory' the realisation will dawn at some point in the next few months / years.

 

"What I think people are grasping here is, this is a disaster for the U.K., but it's a big splash with small ripples," said David Kelly, chief global strategist at JPMorgan Funds.

 

What will be will be, stop crying about it, embrace it and make the UK great, or keep up your crap and cry yourself to sleep