I’m away for the Christmas holidays and looking forward to the break. I haven’t traded recently and have no intention of doing so until the New Year. My supposition is still that after a Christmas rally which could take the FTSE 100 to 5,500 there will be a slow down in January and cliff dive in March 2010 (4,500 FTSE100).
The fundamentals still don’t add up and once the Christmas spirit has worn off the hangover could start to kick in. Many will say this is just the perma-bear in me but I have been patiently following the markets recently and waiting for my entry. The FTSE 100 has been struggling at these heights and whilst there are good indicators my common sense approach i.e. what I see in the shops tells me that year end isn’t going to see stellar growth and usher in a new wave of spending.
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