Indus Gas Share Discussion Threads

[itsourpete] 30/6/2003 22:42

Check this out



Loads of interesting stats - but what about the 'average annual income being 460 US dollars!' Cheap labour indeed!

Pete

[itsourpete] 30/6/2003 22:29

Fleming Indian Investment Trust

[itsourpete] 30/6/2003 22:21

'you should have come to ME first - I'm your UNCLE - I can get it CHEAPER!'

Little did we all know that Goodness Gracious Me would be watched by the Fat Cats that run the British Service & Manufacturing (what's left of it) industries. But they must have done, because certain messages from the programme stuck in their minds. EG
(what nationality was Brunel? = INDIAN)
(who's the F1 World Champion = AN INDIAN)
(who said ' 'you should have come to ME first - I'm your UNCLE - I can get it CHEAPER!' = AN INDIAN)
etc etc.
Well they're now putting their subconcious thoughts into action by starting to export jobs to where the wages are cheap and the overheads are next to nothing!

Nothing wrong or illegal with that - but how do we punters hedge against further deterioration of the UK economy through investing in India? Is it a good idea? Is the timing right? If it is a good idea and the time is right what is the best way to go about it? Shares / warrents / unit trusts / investment trusts / currencies / real estate / utilities? What a choice - and that's just a few examples.

What are your views?

I'm considering a modest punt in the Fleming Indian Investment Trust (epic jii) to start the ball rolling. Fleming have been loitering with intent for a while now in India and their IT is worth a not insignificant £47m and trading at a 16% discount to NAV. There are other quite sound and reliable ITs trading at bigger discounts than that so someone is finding them appealing enough to stick with them.



Goodness Gracious Me!

[nc] 30/11/2000 18:45

Mr E,

My understanding is that with betting on shares, Cantor do not adjust the spreads for sentiment - just time value, divis etc. (time value is just interest & is different from sentiment - I think).

With indices, the bet is on the futures contract - which itself has sentiment built in. I do not think Cantor make any further adjustment for sentiment.

My (limited) experience with Cantor is consistent with above.

I believe that IG & other spread betters also claim this to be their policy, but have no experience.

IMHO
NC

[kayak] 30/11/2000 12:13

Mr E, the info I have read from IG makes it clear that the time value for share futures only includes interest apart from an adjustment for dividends due or estimated to expiry, i.e. no sentiment. In general I have found this to be true for quotes from the website, i.e. the premium is generally constant and decreases as expiry approaches.

However, the spread when you ask for a quote depends on the dealer. I always have the website quote in front of me when I ask for a quote by telephone and it is often adjusted. Sometimes it is clearly because there is only one MM at the best bid or offer, or, for SETS, the best bid/offer are for a quantity lower than the proposed position. Sometimes the dealer widens the spread, particularly in the first hour of trading. Other times it is clear that the dealer is indeed taking a view, in fact on one occasion I overheard him ask the market maker for a view on the "direction". I found that this latter fiddle is heavily dependent on the dealer quoting, so I have a list of the good dealers and bad dealers and avoid the bad ones if I can. Honest dealers: Ollie, Steve. Dishonest dealers: Gary (avoid at all costs), James, Matt, Richard.

DYOR :-)

This BTW is my only problem with IG who otherwise are very professional, and where there have been administrative/recording errors they have been rectified very quickly and efficiently and on one or two occasions clearly just on trust.

[mr euro] 29/11/2000 20:35

Hoops - No prob.

K - Just had a quick look, IG etc.. must take a position as they are selling time contracts and therefore must include time value etc.. which means they must take a view. yes?

[hoops] 29/11/2000 20:12

Thanks mr Euro and dead cat bounce.. et all

Like i said so far with cmc i havent come across any prices were i thought that they had a position themselves (Spent about 6 months as a mms assistant. (and even this doesnt help me !)).

Some of the prices i have been offered have been inside the spread.
and even with the stocks which could trade either way they just widen the spread a bit but at least it is consistent.

[jameshj] 29/11/2000 18:42

Dead Cat. Was there any defining moment(s) when you felt you had graduated from novice to competent trader. Were they to do with specific knowledge / experience or simply a gradual increase in ability and results? Thanks.

[mr euro] 29/11/2000 09:50

K - I only trade indices with the spread betters so assumed it would be the same.

As for IG, hmmmmmmm.

[kayak] 29/11/2000 09:48

Mr E, for individual shares IG claim in their dealing manual not to include sentiment in their quotes (they do for index futures of course). So their quote should not do what hoops described in the case of Cityindex. In fact IG do adjust it by a few pence depending on their assessment of the market, but this depends on the dealer. If you get Gary on the line, put the phone down and ring again...

[mr euro] 29/11/2000 09:09

Hoops, when you take a position with Ig etc.. as K said above you are not buying the stock but buying a future. As with any futures position it trades at a different value to the underlying stock. There are many reasons for this, time value etc.. but also the MM will take their own position which will lead to the price being quoted either at a discount or premium, possibly both within a short period of time.

You have to really understand this or you'll have no chance. When trading indices I often look to exploit such positions.

[robbb] 29/11/2000 08:49

big vern
I know its after the horse has bolted, so to speak, but I ticked the "send confirmation by email" box on my original application form. This email usually arrives within a couple of minutes and can obviously be checked immediately or at least that evening if you are out. Just a thought.
Regards
Rob

[dead cat bounce] 29/11/2000 08:37

I have been daytrading indices for nearly a year, using CMC. Their service, on the whole, is ok and the spreads are tighter than with the spreadbetters, also, being an online service, you can deal quicker.
However, your technical analysis skills have to be honed to perfection and the CMC charts are NOT sufficient to trade off, you need another realtime feed, such as eSignal (dbc.com).

Finally, do not expect to make money for 2-3 years. If you survive that long, you may become a passable trader. Daytrading indices is the hardest thing I have ever tried my hand at (except being a parent :-), so DO NOT expect instant riches.

dcb

[hoops] 29/11/2000 02:38

KAYAK , dont mind paying the premium but I cant see how 2/3 days later the time value could have dropped by that amount(Well I can it is as I said earlier they are just calling there book).
So far with cmc there price have been equally priced at the mid.

Time will tell
HOOPS

[kayak] 29/11/2000 01:40

hoops, the reason that March Marconi is higher than the share price is that it is priced as a future, i.e. the quote you get includes (a) an adjustment for an interest charge from now to March and (b) an adjustment for any dividends. You pay interest on spread betting, it's just that it's included in the quote and not separate as with CFDs. Although the difference with the second quote does indeed sound like they adjusted it.

big Vern, I always write down time of each trade and name of dealer spoken to exactly for that reason.

[hoops] 28/11/2000 19:19

on your contract there would be a serial no next to your trade . if they cannot locate the tape then surely that is there problem.
After saying that though i have had the odd rogue trade appear on my statements but i have always let them know.My problem is that they are just not consistent
with there prices

good luck anyway

HOOPS

[jameshj] 28/11/2000 19:14

Vern; I've been day trading the index for a couple of weeks with IG. Apart from the prices moving like rockets on occasion I've had no problems with them. From my experience you must know your technical analysis, you have to start small (IG do £2 a point) and losses have to be cut very fast - they can grow at an alarming rate and wipe out several days profit in the time it takes to find the phone. Good luck.

[nc] 28/11/2000 17:38

hoops,
If you are still interested in spreadbetting, I have found Cantor to be a good service.

[nc] 28/11/2000 17:23

LC, thanks - much as I thought
unfortunately CGT isn't as big an issue for me as it was earlier in th year :o(

[limpsfield chartist] 28/11/2000 17:20

nc

In my experience the spreads on indices for cfds is much narrower than the spreadbetters, so it make short term trading a lot more realistic.

Spread bets of course have the big advantage of being tax free.

LC

[nc] 28/11/2000 17:13

LC,
Hope you don't mind me interrupting. I have been doing a little spreadbetting recently, but I wonder how you would compare the spreadbetting with cfds - when is one more appropriate thanthe other?
Thanks, NC

[limpsfield chartist] 28/11/2000 16:05

bv

I use these for nasdaq and think they are fine. Also use IG and futures, but cmc is a good place to start off with. Any other qs please post.

LC