I sat in the stand on the thirteenth tee for one and a half hours waiting for a glimpse of the awesome talent that is Tiger Woods and what does he do? Duff his tee shot out to the right. Four shots later, with me nowhere near he holes his second. As I often say timing is everything!
Golf is not a good spectator sport however it is isn't a bad social event. The Bollinger tent was doing roaring business with scouse footballers in one corner, a plethora of former rugby players in another and a load of fat rosy cheeked bankers in the middle, nervously checking their Blackberries as the equity markets slid.
They will probably be comforted by today's rise the FTSE though I would suggest that this is rally will last about as long as Sergio Garcia's at the top of the leader-board on the last day of a major!
News from the California real estate association that the property market can no longer be described as a soft landing will not help things nor will the further capitulation of the semi-conductor market. We do however need to see a break back below 1235/1240 before we can put up our own Bollinger tent. Behind this there are a wave of stop losses from 1205 to 1195 and more below 1160 so if we see further losses this can quickly accelerate into a rout. Here's hoping!
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Posted by: オテモヤン | 27/03/2010 at 07:52 AM