Good morning!

There was some discussion in the comment thread last night about the effect of reader suggestions on the SCVR, which I haven't had a chance to respond to yet.

If you do have any comments or suggestions for today, please fire away.

On the macro front, the FTSE-100 closed lower by 1.2% at 6953 yesterday, returning to December 2016 levels, and is set to open lower again today.

Small-caps on my radar today are:

There have also been announcements for the big-caps Next (LON:NXT) (which I hold) and £AV.A.

Graham



Macro Thoughts: The market is worried about trade wars after Trump announced $60 billion of tariffs on Chinese steel and aluminium. Do we care about this story at the SCVR? For now, I don't think so. The success or failure of individual companies is still more interesting.

Something I do care about is the level of the FTSE, so to the extent that jitters send the FTSE lower, I do take notice.

Personally, I've been keeping track of the FTSE All-Share Total Return Index against my personal portfolio since 2011.

I also watch the FTSE-100 Index as a measure of how invested I should be. Ideally, I will increase my equity weighting as the index falls. And if the falls become extreme, I would even be willing to take some leveraged long positions in stocks.

Stockopedia has helpfully saved the lines I drew on the FTSE-100 chart the last time I looked at it, during the big fall in early February:

5ab4e68e95bc4FTSE_20180323.PNG

The 7100 level provided support for a while, but is out of the picture now and from a technical point of view we look headed towards the 6600 mark.

If we drift deeper into the 2016 range, we would be headed to 5900 and then the 5500 low:

5ab4e8653645bFTSE_20180323_LT.PNG


These are the fundamental stats for the FTSE-100, according to Stocko:

5ab4e8eebaabfFTSE_20180323_stats.PNG

These metrics look fairly…

Unlock the rest of this Article in 15 seconds

or Unlock with your email

Already have an account?
Login here