JRDS Posted June 24, 2016 Report Share Posted June 24, 2016 (edited) 3% or so on the first day post the result hardly the financial Armageddon all the Experts, Osborne, Carney and crew were predicting. We need shut of both of those now also. Well done the UK, a fantastic day for democracy for which we owe a huge vote of thanks to Nigel Farrage who made it all possible through years of work in the face of much adversity. As an aside nice to see Sadiq Khan and wee Kranky recognising democracy, keep London in the EU how does that work then!! Sorry Sadiq you are getting seriously above your station. I thought Cameron was very humble today to is credit and his timing good for going, if only the slime ball Osborne was as humble no place for him in the brave new world. Edited June 24, 2016 by JRDS Link to comment Share on other sites More sharing options...
la bala Posted June 24, 2016 Report Share Posted June 24, 2016 Lot of people who sold stock in the last 48 hours have bought it back very cheaply this morning. Lots of money been made from Brexit. Why wasnt i born clever. Link to comment Share on other sites More sharing options...
AVB Posted June 24, 2016 Report Share Posted June 24, 2016 Lot of people who sold stock in the last 48 hours have bought it back very cheaply this morning. Lots of money been made from Brexit. Why wasnt i born clever. The thing is the majority of people have not been selling over the last 48 hours. They have been buying. That is why the markets rose so dramatically. Some people may have 'shorted' the market but they were in a minority. Link to comment Share on other sites More sharing options...
Lloyd90 Posted June 24, 2016 Report Share Posted June 24, 2016 Some claim its down, just published tho most are either equal or up 2-3% over the course of the week Link to comment Share on other sites More sharing options...
la bala Posted June 24, 2016 Report Share Posted June 24, 2016 The thing is the majority of people have not been selling over the last 48 hours. They have been buying. That is why the markets rose so dramatically. Some people may have 'shorted' the market but they were in a minority. The thing is the majority of people have not been selling over the last 48 hours. They have been buying. That is why the markets rose so dramatically. Some people may have 'shorted' the market but they were in a minority. Sorry thought the object was to sell when prices high and buy when low. Just goes to show how ignorant i am. Link to comment Share on other sites More sharing options...
oldypigeonpopper Posted June 24, 2016 Report Share Posted June 24, 2016 hello, i think it is called a bear market? not for the faint hearted Link to comment Share on other sites More sharing options...
Brodie Posted June 24, 2016 Report Share Posted June 24, 2016 Got an email from my pension man this afternoon - Footsie 100 is 100 points higher today after Brexit than it was on the day the referendum was announced. European stocks are worth more due to the pound going down so overall my pension pot has gone up in value - the opposite to what all the experts predicted Link to comment Share on other sites More sharing options...
oldypigeonpopper Posted June 24, 2016 Report Share Posted June 24, 2016 Got an email from my pension man this afternoon - Footsie 100 is 100 points higher today after Brexit than it was on the day the referendum was announced. European stocks are worth more due to the pound going down so overall my pension pot has gone up in value - the opposite to what all the experts predicted let us hope many many other UK residents saving for a pension will benifit to Link to comment Share on other sites More sharing options...
Mungler Posted June 24, 2016 Report Share Posted June 24, 2016 My cousin who works in IT made £60k shorting the pound against the dollar this morning, whatever that means. Link to comment Share on other sites More sharing options...
Lloyd90 Posted June 24, 2016 Report Share Posted June 24, 2016 Sorry thought the object was to sell when prices high and buy when low. Just goes to show how ignorant i am. It is. They sold the stocks they owned before the results, when we were expected to remain, therefore the stock price was high. When results were published the stock prices crashed, a lot of people then bought back the exact same stocks they had owned before, except at a lower price than they sold em fore, so they end up with their stock plus lots of £££ OR more stock than they had originally without any extra investment I think ... Link to comment Share on other sites More sharing options...
ditchman Posted June 24, 2016 Report Share Posted June 24, 2016 so does that mean my euro lottery ticket will be worth more ? Link to comment Share on other sites More sharing options...
JRDS Posted June 24, 2016 Author Report Share Posted June 24, 2016 Got an email from my pension man this afternoon - Footsie 100 is 100 points higher today after Brexit than it was on the day the referendum was announced. European stocks are worth more due to the pound going down so overall my pension pot has gone up in value - the opposite to what all the experts predicted Moral of the tale **** the experts with their ulterior motives. so does that mean my euro lottery ticket will be worth more ? No but it means Sir Bob Geldof is mightily ****** along with the establishment. Insert middle finger to Sir Bob. Link to comment Share on other sites More sharing options...
Lloyd90 Posted June 24, 2016 Report Share Posted June 24, 2016 Even if EU pulls out , I'd wager big players around the world are looking at how this could benefit them, running the numbers and will put forward trade deals when ready Where's there's money to be made, someone will capitalise on it! Link to comment Share on other sites More sharing options...
SNS Posted June 24, 2016 Report Share Posted June 24, 2016 3% or so on the first day post the result hardly the financial Armageddon all the Experts, Osborne, Carney and crew were predicting. We need shut of both of those now also. Well done the UK, a fantastic day for democracy for which we owe a huge vote of thanks to Nigel Farrage who made it all possible through years of work in the face of much adversity. As an aside nice to see Sadiq Khan and wee Kranky recognising democracy, keep London in the EU how does that work then!! Sorry Sadiq you are getting seriously above your station. I think the better place to look was the FTSE 250 which was down about 7% (or £25bn lost for those that prefer more dramatic headlines) A lot of the FTSE 100 derive much more of their revenues overseas so when converted into sterling from dollars then they gain given sterling down a bit over 7% against the dollar whereas more of the FTSE 250 revenues are UK based Link to comment Share on other sites More sharing options...
JRDS Posted June 24, 2016 Author Report Share Posted June 24, 2016 I think the better place to look was the FTSE 250 which was down about 7% (or £25bn lost for those that prefer more dramatic headlines) A lot of the FTSE 100 derive much more of their revenues overseas so when converted into sterling from dollars then they gain given sterling down a bit over 7% against the dollar whereas more of the FTSE 250 revenues are UK based Whichever still not Armageddon and shares in my Employer went up, not bad for the first day of the Apocalypse. Link to comment Share on other sites More sharing options...
Paul1440 Posted June 24, 2016 Report Share Posted June 24, 2016 The trend of the stock market has always bern on average 10% per year up since it started.. ok it may have periods over several years where its low but it soon catches up. Thats why I can't understand why they always resort to knee jerk reactions with pensions. Rob them when its good and cut when it's not. Link to comment Share on other sites More sharing options...
la bala Posted June 24, 2016 Report Share Posted June 24, 2016 Done with this post, i now have a headache Link to comment Share on other sites More sharing options...
AVB Posted June 24, 2016 Report Share Posted June 24, 2016 It is. They sold the stocks they owned before the results, when we were expected to remain, therefore the stock price was high. When results were published the stock prices crashed, a lot of people then bought back the exact same stocks they had owned before, except at a lower price than they sold em fore, so they end up with their stock plus lots of £££ OR more stock than they had originally without any extra investment I think ... mm doesn't work like that. Let me try to explain (and I am not being patronising) The indices were rising before the announcement because people were buying. Prices go up when people are buying and fall when people are selling. For example if there were only 10 widgets in existence (and shares are no different there are only a set number of those in existence) and you owned them all. If a few people wanted to buy them they would have to offer you a price at which you would sell. £10, £11, 12 etc. The price is rising because there are more buyers than sellers. Say you decide to sell at £15. Then what if the buyer later wants to sell them. If there are more buyers out there then again the price will rise. However if nobody wants the widgets then he will have to lower the price until they get to a price that somebody is willing to buy. The price is falling as there are no buyers. So in the few days before the referendum there were lots of buyers and fewer sellers hence driving the price up. Yes some people who sold at the time who then bought back today will be quids in but dwarfed by the losers who bought higher. Anyway it's all paper loss until you have to sell. If you buy at £10 it doesn't matter what the price is until you come to sell it. At that point your profit or loss is crystallised. Link to comment Share on other sites More sharing options...
AVB Posted June 24, 2016 Report Share Posted June 24, 2016 My cousin who works in IT made £60k shorting the pound against the dollar this morning, whatever that means. It means he sold pounds and bought dollars (one assumes before the pound crashed). He was short of pounds and long of dollars. Then when sterling falls he sells dollars and buys pounds. He must have had to put a lot of money up front to make £60K unless he was trading futures or some form of spread betting. To be honest I have heard so much rubbish spouted by part time traders in the past over how much they have made on specific trades I would take it with a pinch of salt. Link to comment Share on other sites More sharing options...
JRDS Posted June 24, 2016 Author Report Share Posted June 24, 2016 (edited) It all goes to prove at the end of the day you cannot put a price on democracy, it will be very interesting to see how the contagion spreads France and Germany out and it is game over for the corrupt EU and I would think the public in both countries will want a say. Edited June 24, 2016 by JRDS Link to comment Share on other sites More sharing options...
Mungler Posted June 24, 2016 Report Share Posted June 24, 2016 It means he sold pounds and bought dollars (one assumes before the pound crashed). He was short of pounds and long of dollars. Then when sterling falls he sells dollars and buys pounds. He must have had to put a lot of money up front to make £60K unless he was trading futures or some form of spread betting. To be honest I have heard so much rubbish spouted by part time traders in the past over how much they have made on specific trades I would take it with a pinch of salt. It was spread betting Link to comment Share on other sites More sharing options...
Duckandswing Posted June 24, 2016 Report Share Posted June 24, 2016 I believe time will tell as they say. Link to comment Share on other sites More sharing options...
AVB Posted June 24, 2016 Report Share Posted June 24, 2016 It was spread betting I'd call that one to be honest. £60K profit betting on something that has already happened when the whole market is doing the same thing! Link to comment Share on other sites More sharing options...
oowee Posted June 24, 2016 Report Share Posted June 24, 2016 I think the better place to look was the FTSE 250 which was down about 7% (or £25bn lost for those that prefer more dramatic headlines) A lot of the FTSE 100 derive much more of their revenues overseas so when converted into sterling from dollars then they gain given sterling down a bit over 7% against the dollar whereas more of the FTSE 250 revenues are UK based Exactly. Market is all over the shop stuff that should stick is down and then there is Unilever that should be down and its up? Fun and games today which one to choose black or red, odds or evens? Link to comment Share on other sites More sharing options...
Mungler Posted June 24, 2016 Report Share Posted June 24, 2016 I'd call that one to be honest. £60K profit betting on something that has already happened when the whole market is doing the same thing! I'm going to find out a bit more about this caper - I've been meaning to do it for years, ever since all the bottom set lot from my year at school all went off up town to the Liffe floor and made fortunes notwithstanding that to a man they were all extra ordinarily thick but pretty good at drinking and shouting. The latest text update is that there was a substantial bet on brexit with paddy power mixed in with a hedge to fx (whatever that means). I did have a client whose son lost everything (including my client's pension) up in the City but I'm guessing you need specialist systems, software, approvals and accounts and it's not for the amateur punter. Maybe I'll stick to losing my shirt on the football. Bloody Ronaldo. Link to comment Share on other sites More sharing options...
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