Monday, 16 September 2013

St Leger's Day



This was on Saturday and then this morning I find even the sickliest of poor AIM shares that I have in the bottom draw are moving up nicely. What is strange about the old City Phrase 'sell in may and buy again on St Legers day' is that it does often come true.

Not so much this year on the FTSE as you would be down about 2.4%,plus then you would have your divi's and trading costs to add in; but as market sentiment goes things are certainly looking frothy.
Now is also a traditional time of year to worry about the impending doom of an October Crash, as in 1987 and 2008.

Yet with the Syria crisis easing (for everyone except the Syrians, unfortunately) and few major macro economic issues looking like they are to blow, up, things look set fair for a calmer end to the year. Events, as we well know though, have a habit of blowing up quite fast!

The big driver, as ND wrote a week or two ago, will be the German election. Once Frau Merkel is back in place resolution of the Eurozone mess will gather pace. Still though, as it is governed by politics, that will become next years news....

8 comments:

Demetrius said...

Cough, cough, too much dwelling on finance. It is St. Leger, not ledger. The St. Leger's were once a major family, part of the ancestry of Queen Elizabeth I. They eventually ran out of money. Which the way the markets may go could apply to some governments in the near future. It might be a better bet than any of the horses.

CityUnslicker said...

Yikes!!

humble face.

Demetrius said...

Long long ago I used to arrange meetings on non race days at Doncaster Race Course because they did a first class lunch there at a reasonable price and with a decent wine list for that time.

Budgie said...

I nearly (!!) bought RRR when they were at 0.35, but didn't because of a nasty experience chasing AFE to the bottom. I did average down, so ok with that.

Ok, CU, so what's your thinking on XTR, EME, SMDR, HOIL, AEY? I tend to go for XTR and AEY as outsiders with potential to recover.

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