I'm thinking of cancelling my ISA from last week, under the 14 day cancellation and redoing either very shortly, or a bit later depending how the markets go.
I'm thinking of cancelling my ISA from last week, under the 14 day cancellation and redoing either very shortly, or a bit later depending how the markets go.
Even if its within the 14 day cooling off period, if the value has fallen you will get its current value, not the amount you originally put in.
I'm thinking of cancelling my ISA from last week, under the 14 day cancellation and redoing either very shortly, or a bit later depending how the markets go.
Even if its within the 14 day cooling off period, if the value has fallen you will get its current value, not the amount you originally put in.
FTSE down about another 270 points today as the youngsters in the City decide we are all doomed.
What really irks me is years worth of gains are wiped out in days.
Yes, I know the market will turn. But our fall today will probably drag the Dow lower tonight and so it goes on.
I have a funny feeling it will take years for the market to regain its previous high
It's not years of gains that are being wiped out......the FTSE is today around where it was in Dec 2018 after if fell 12% in 3 months (remember that....probably not). Then last year those falls were more than made up. It will happen again. I dont know where or when this current downturn will correct itself but it will. In the short term 2 things will happen. 1) investors/traders will see a chance to make a profit (as a pp mentioned) and will start buying selected stocks. 2) We will soon be at the end of a quarter & like car dealers there will be some "squaring off" for their quarterly figures and so the market will rise.
FWIW. The FTSE100 had been moving between 7500-7700 since the New Year. Earlier today it was around 6500. My bet it that it will be above 7000 by the summer.......maybe sooner. And back to a range between 7200-7500 by the end of the year.
Are you sure you're not being slightly economic with the truth?
A quick look at the FTSE 100 stats on line shows that the last time the index was as low as it finished on Friday was 5 July 2016.
FTSE down about another 270 points today as the youngsters in the City decide we are all doomed.
What really irks me is years worth of gains are wiped out in days.
Yes, I know the market will turn. But our fall today will probably drag the Dow lower tonight and so it goes on.
I have a funny feeling it will take years for the market to regain its previous high
It's not years of gains that are being wiped out......the FTSE is today around where it was in Dec 2018 after if fell 12% in 3 months (remember that....probably not). Then last year those falls were more than made up. It will happen again. I dont know where or when this current downturn will correct itself but it will. In the short term 2 things will happen. 1) investors/traders will see a chance to make a profit (as a pp mentioned) and will start buying selected stocks. 2) We will soon be at the end of a quarter & like car dealers there will be some "squaring off" for their quarterly figures and so the market will rise.
FWIW. The FTSE100 had been moving between 7500-7700 since the New Year. Earlier today it was around 6500. My bet it that it will be above 7000 by the summer.......maybe sooner. And back to a range between 7200-7500 by the end of the year.
Are you sure you're not being slightly economic with the truth?
A quick look at the FTSE 100 stats on line shows that the last time the index was as low as it finished on Friday was 5 July 2016.
Well taking a start point of about 3 weeks ago, my £170,000 stock/fund portfolio is now worth £154,000 so a 9.4% loss in days. I’m just glad I took my final salary pension as a pension. I couldn’t imagine sitting invested with drawdown and seeing near 10% wiped off my future in a few days.
Will it come back, I expect some stocks will recover quickly. Others may take years. As a Former Lloyds employee, I am overweight in Lloyds which is helping drag me down.
You must be very heavily weighted in equities. My pension fund has fallen around 5% this week, but I have around 30% in bonds/property.
Not sure when this "correction" will stop & things recover, but it will. As pp have said, the FTSE100 is not a good gauge of UK shares. Big companies like BP make up a large proportion of its value & I think about 6 or 7 shares make up 20% of the overall total.
That was my thought too, and quite high volatility stuff for a pension fund. Worth looking at that @RaplhMilne, although not a good time to sell anything, IMO
Thanks for comments guys. But, as I said I took my Lloyds Final Salary pension as pension. The stocks/funds I hold are my historic personal investments and some of my 25% Tax free. However, I still hold about 45% of my overall funds in Cash. So I will have no need to sell out anytime soon.
Markets go up and down. Down is a chance to invest, up is a chance to cash in the profit. It's all good
True, but far easier to gamble on getting right when your playing with other people’s money. An mistakes costs clients their savings not you. Surely for someone to win and make money, there has to be a a matching loser, who suffers.
As a pure amateur I see the rises of today, as dead cat bounce. I think this will turn and plummet again. But, I’m not bold enough to sell out and accept the hit. Even though it feels the tight thing to do.
Comments
Great idea, thanks. Will do that.
A quick look at the FTSE 100 stats on line shows that the last time the index was as low as it finished on Friday was 5 July 2016.
Unless anything untoward happens overnight/Asia opening, the FTSE should follow suit. There's usually one opportunity to get out during a crash ....