ive mentioned this before,,,go away in may and come back in September for this year. Buying shares right now is way to risky as we have not had a bad fall yet..The big fall will come once uk enacts the article 50.This will officially take us out of europe and then markets may really react.
Bank shares can get a lot cheaper as we are going down a path of unknown.
Right now im looking to short the currency (pound/usd) at 1.35 with a massive stop...as i expect the pound to go a lot lower towards 1.05 area,,yes you heard it right,,,thats my prediction for the pound. In par with the dollar...This is based on technical and not emotion as thats the next real support for the pound...as long as we stay below 1.35 then thats the area it can go to as no real support until then.Theres some around the 1.20 area but the main one is at 1.05.
as for indexs,, im looking to short the dow at 17405 with a 50 point stop,,as thats the back test area of the 200ema,,,so im on the short side of the markets for the time being .
So trying to bag some cheap shares now is kinda risky as there is so much uncertainty out there and we need stability to be able to get cheap shares again.It will come but i suspect this chapter has just started and we are far from the end of the story.
So please try and been smart with your cash as it could be a crazy few months ahead and its not gonna be easy.
remo
