Tag Archive for 'Standard Life'

The FTSE to hit 6000?

Published on December 31, 2010 in Market Reviews and ShareHunter News. 0 Comments Tags: , , , , , , , , , , , , , , , , .

In our blog dated 12 August 2010, under the same heading, we questioned the motives of Mr. Keith Skeoch – the CEO of Standard Life – when he forecast that the FTSE 100 index would hit the ‘6000 barrier’ by the 31st of December. We wrote then that he attributed no reason why it should and we added that we would congratulate him if it did.

Well, our congratulations to Mr. Skeoch are happily and freely given. Well done, sir, you got it exactly right.

It wasn’t until a few weeks later that we were able to confirm that the technical signals that we could see for the FTSE meant that higher share prices were likely to follow. This enabled us to build a good series of trades in FTSE 350 shares that has resulted in an excellent and profitable end to 2010.

The FTSE to reach 6000!??

Published on August 12, 2010 in Education, Market Reviews and ShareHunter News. 0 Comments Tags: , , , , , , .

So, the CEO of Standard Life Investments announces that he thinks the FTSE is going to hit 6000 before the end of the year! He may be right – but he could be very wrong. He is obviously guessing as he cites no technical reasons why it should.

It couldn’t be that he has an ulteria motive could it? It couldn’t be that he wants to encourage as many people as possible to invest into equity based funds (with the Standard Life of course) could it?

We will keep a note of Mr.Skeoch’s claim and will congratulate him on Dec 31st if, indeed, the FTSE has hit the 6000 level again or, if it has failed so to do, we will ask him for an explanation of how he and his investment managers base their wild claims. And we will keep you informed.

At the moment we could not make any such claim ourselves. Our detailed technical analysis still shows the FTSE as struggling to gain enough support to get above the resistance of the 5400 level area; should it eventually succeed in doing so the 6000 does become a possibilty but, at this stage, it is only proper to advise caution as the FTSE could so easily confirm its current effort at downtrending and could, soon, quickly fall to the 4500 level and perhaps a lot lower!

So, Mr. Skeoch we think it would be a lot fairer of you to have given equal prominance to the possibilty of a FTSE collapse or a continuing sideways move – but, the, of course, that wouldn’t attract many new investors into Standard Life’s equity funds, would it!!