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Hello Crazy chums,
I opined early this week that the Footsie might surge forward as the Christmas rush to buy stock has been slow to get underway this year - and is due a bit of catching up.
I seem to have been right - and the index is doing rather nicely as I write this. Though one is always aware that the story can soon change, even as I put pen to paper, or finger to keyboard in this case.
Any road up, I expect the Footsie to reach 6,400 by the year's end - and that is still 10% below its all time high of around 6 years ago.
What is rather remarkable is that shares are doing well this week, even though higher inflation figures have made the threat of another interest rise more likely. If shares can rise under this cloud, then the Footsie must indeed be rather strong.
It's helped by the fact that the dollar seems to be regaining strength again - and the fact that figures are already dribbling in to say that shopping for Christmas is stronger than last year. That will not only send up shop shares - it will give encouragment to most other stocks as well.
It seems that people are still prepared to spend - and that will probably benefit most companies in the long run.
And now - it's time to rock on!
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