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Hello you Crazy Crazies,
There's a real uncertainty stalking Crazyland at the moment. The Footsie and the Dow are both holding up rather well. But opinion seems divided as to whether they'll rise or fall.
This time of the year often sees rises in share prices all round. And store prices soar more than most. This is not because stores outperform every Christmas - often its the reverse. But Crazies see loads of people in the shops and associate long pre Christmas queues at the cash counters with a general improvement in the store's fortunes.
But so far this year, this cheery Christmas feeling has not yet affected the markets - mainly I suppose because of the cloud hanging over banks and their ill-fated delving into sub prime mortgages.
However, there's still time, and I'm probably going to put a bit more money into chain stores, like Woolies (WLW), Marks & Sparks (MKS) and Instore (INST).
These new shares will do doubt be sold straight away after Christmas, before the true Yuletide profits are announced.
But what about the rest of the shares - the non shopping kind? Well, I still favour oil over banks. Though, for insurance - and because I think banks have been oversold, I will not sell any more of those just yet.
Meanwhile, oil is getting scarcer by the day while demand is rising by the day. That can only mean higher oil prices in my view, so those big and small oil firms who have a nice supply should do extra well. As for the banks, well, Barclay has announced the prospect of record profits again, so perhaps they're not in as bad a shape as some of the pundits would have us believe.
All in all gang, I am optimistic about share prices. But these are not the best times I've know in Crazyland, so don't take what I say as gospel. It ain't. God bless!
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