Micheál Ó Cróinín

Solas Trend Finder (STFA) bullish on FTSE100 stocks

Micheál Ó Cróinín | October 12th, 2011 | Tags:

The Solas trend following system has taken on a bullish undertone in the FTSE100 in recent days with 66% of the stocks now showing a bullish bias and only 11% of stocks with a short bias. Interesting to see if this shift in market sentiment on the Solas Trend Finder Algorithm is the start of something stronger or just a flash in the pan. Opportunities are abound with realistic risk management…let’s watch this space over the coming period.

The strongest sector in the FTSE100 list is the Consumer goods sector with 9 out of 10 stocks with a long bias. Burberry (BRBY.L) is the latest of these stocks to generate a new trending signal to the upside along with Next (NXT.L) from the Services sector.

Depending on the traders appetite for risk the list compiled below would be considered stocks with a high risk/reward ratio with a bullish outlook

CNE.L, BLND.L, CSCG.L, HL.L, HMSO.L, MKS.L, RB.L, REX.L, IAG.L, LAND.L

In the financial sector a stock with potential is Land Securities REIT (LAND.L). Although relatively weak since early August the stock has recently gone bullish on the Solas Trend Finder Software and it may have found a bottom as recent price behaviour has seen its stock price trade above the daily 20sma (current dynamic stop) with increasing volume and is now pausing above this level.

Sentiment in the markets may be changing as European banks may finally be getting to grips with their debt, although a vote by the Slovakian Government to extending the funding from the EFSF (European Financial Stability Facility), may cause unease and increased volatility in the equity markets.

Investor confidence has grown of late as the US jobs data report was better than expected. Also German and French politicians have announced that they will unveil a comprehensive plan to resolve the debt crisis in peripheral Europe within the next month, which will provide some relief for investors.

Instrument Profile:
FTSE A company that specializes in index calculation. Although not part of a stock exchange, co-owners include the London Stock Exchange and the Financial Times. The FTSE is similar to Standard & Poor’s in the
United States. They are best known for the FTSE 100, an index of blue-chip stocks on the London Stock Exchange.

About the Solas Trend Finder Algorithm (STFA):
The Solas Trend Finder Software is designed for traders and investors who want to take advantage of short, medium and longer term trends across multiple timeframes on all major asset classes including global indices, equities, exchange traded funds (Etfs), commodities & forex.

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