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Neighbour: Looking for the Santa rally
Central Markets' Joe Neighbour is looking for more gains on the FTSE this Friday and is hoping for a "Santa rally" between now and the new year. Joe says Wednesday's tapering announcement from the Fed indicates we're still "risk-on" as far as equities are concerned. A "Santa rally" is a rise in share prices that often happens in the last week of the year.
The FTSE-100 put on nearly 1.5% on Thursday. Joe is looking for a dip to place a long position on the index. He has a short term target of 6,630. Risk reward is limited, he says, but he's targeting 6,665 beyond that with a stop loss at 6,525.
01:34 minutes
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