Well here we are again at the beginning of another week and it’s likely to be another choppy week on the FTSE 100. Last week’s 230 point decline has been significantly retraced with many seeing this as an opportunity to go long or increase exposure to UK stocks.
For us the timing doesn’t seem quite right – although the level and magnitude of the fall was pretty much perfect for an “initial retrace” – but remember the market does not move in straight lines and a fall of this magnitude is often “bought up” before completing the correction.
Those who follow us regularly will understand our caution. There are less risky opportunities out there at the moment.
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