Quite a few nice setups and technical charts tonight. Markets have impressed me with their advances over the past week. Not much market related anecdotes lately, so thought I’d share with you something I heard on the local radio this week which I amused me for a minute or two.
The local station often provides a daily market update after the drive-time news which mainly focuses on crude oil given that this is the oil capital of Europe. Anyway the presenter said “And lastly, the FTSE lost 15 points so it will be opening at 5240 tomorrow morning” (I’m making up the close price as I write btw).
I LOL’d with jest as I drove. Overnight trading action, worldwide news, shifts in sentiment or pre-market auctions mean that the market very, very rarely opens at the same price which it closed at. Most people don’t have any idea how these things work, and for them to make such a flippant statement was both funny and sad at the same time.
Anyway, let’s check some charts. My preferences are for PBI HAL BWLD & BMRN this week.
AXP & CA didn’t quite do it for me.
Not had a heavy tune on here for a while, this ought to do it;
Actually here’s a two-for, a little more funk here