Skip to main navigation or content
You are here:
No new signals were announced in November and all the IC/Coppock Indicators continue their journey south, with the exception of the UK All Stocks Gilts.
Advertising
This index performs contrariously to the equity markets and even posted a new high since its 'buy' signal was given in August last year. This indicator remains on 'hold' for now, though.
Rebased: 02 01 2003 = 100
The only indices to perform well during November were those for the gold mines. Toronto Gold was up 45.8 per cent on the month, followed by the FT Gold Mines up 31 per cent and South Africa up 21.72 per cent. These increases reflect the recent rise in the price of gold bullion, but their performance wasn't sufficient to produce any 'buy' signal. The overall trend for these markets remains downward and these rises must, therefore, be viewed as a correction.
Rebased 03 11 2008 = 100
Summary table of Coppock indicators:
| Index/market | Average index | Indicators | Signal | ||
|---|---|---|---|---|---|
| November * | November † | September † | September † | ||
| UK All Stocks Gilts | 151.29 | +7.3 | +6.6 | +6.0 | HOLD |
| FT30 | 1,555.94 | -163.7 | -142.2 | -116.8 | WAIT |
| FTSE 100 | 4,223.95 | -110.9 | -90.3 | -63.9 | WAIT |
| FTSE All-Share | 2,110.73 | -118.4 | -97.6 | -71.5 | WAIT |
| FT Gold Mines | 1,611.75 | -31.3 | 33.5 | 98.8 | WAIT |
| Amsterdam | 397.05 | -163.4 | -133.8 | -99.0 | WAIT |
| ASX All Ord | 3,750.30 | -132.1 | -102.5 | -72.6 | WAIT |
| S&P/ASX 200 Energy | 12540.29 | +50.2 | +87.6 | +129.8 | WAIT |
| Belgium S.E. | 18,012.96 | -167.9 | -142.2 | -111.5 | WAIT |
| Dax (Germany) | 4,691.99 | -123.2 | -95.4 | -62.9 | WAIT |
| Dow Jones | 8614.55 | -106.5 | -81.9 | -53.6 | WAIT |
| Rep of Ireland (ISEQ) | 2,653.33 | -274.6 | -253.8 | -228.4 | WAIT |
| France CAC 40 | 3,287.21 | -155.2 | -135.0 | -111.3 | WAIT |
| Hang Seng | 13,572.81 | -94.5 | -39.4 | +21.9 | WAIT |
| Italy BCI | 1,008.25 | -189.7 | -171.2 | -148.4 | WAIT |
| S Africa (Gold) | 1,680.52 | -131.8 | -115.5 | -97.8 | WAIT |
| S Africa (Industrial) | 20,642.36 | -97.6 | -74.9 | -51.8 | WAIT |
| Straits Times | 1,753.36 | -154.2 | -119.4 | -79.7 | WAIT |
| Tokyo New S.E. | 857.92 | -168.7 | -151.6 | -130.3 | WAIT |
| Toronto Comp | 9,043.71 | -67.1 | -35.5 | -3.2 | WAIT |
| Toronto Gold | 1,815.66 | +13.2 | +60.4 | +109.3 | WAIT |
| Sweden OMX | 642.07 | -180.5 | -164.8 | -141.4 | WAIT |
| FTSE techMARK 100 | 1,156.88 | -87.8 | -66.7 | -41.3 | WAIT |
| Nasdaq 100 | 1,199.07 | -92.2 | -55.2 | -16.2 | WAIT |
| *Average index for the month of November 2008. † IC/Coppock indicator. †† Unofficial signal. BUY/SELL = self explanatory; WAIT = you sold at the last sell signal and are now waiting for the next buy signal; HOLD = you bought at the last buy signal and are now awaiting the next sell signal. | |||||
Read more articles about Coppock indicators here...
The IC/Coppock indicator identifies long-term buying opportunities. It is based on a mechanical system known as the long-term buying guide, which was devised by Edwin Coppock of Texas. This buying guide was then revised by Investors Chronicle in 1963 - so it differs from the original system, which is still used by our columnist, The Trader.
Mr Coppock only used his indicator as a buying guide, but we also show the sell signals in our table (above), just for interest. However, caution must be exercised when viewing these sell signals because they do not always indicate the commencement of a bear market. Sell signals do indicate a downward movement in the particular index, but this may well be a mere dip in a continuing bull market.
In the table, you will see the latest indicator, followed by the figures for the previous two months. These indicators can rise and fall, and be positive or negative figures. So when an indicator is in its negative phase, and then begins to rise after a falling trend, this is a buy signal [eg -5.1 (Jan), -28.3 (Dec), -27 (Nov)]. When the indicator is in a positive rising phase, and begins to fall, this is a sell signal [eg +120.9 (Jan), +132.5 (Dec), +128 (Nov)].
Unofficial buy signals occur when the indicator begins to rise, but is not in the negative phase. These may give investors an extra opportunity to purchase shares. Conversely, unofficial sells are given when the indicator begins to fall while in the negative phase.
Enter IC's Fantasy Portfolio competition for the chance of winning £1,000 or a luxury golf weekend, courtesy of ETX Capital and Celtic Manor.
The only way to access our daily share tips, analysis and profit making tools is with an IC Advantage subscription, and you can sign up for a free two week trial here.
Profit from our latest investment - Trial IC Advantage for free today
Advertorial Feature
Have you ever watched a move in the markets that you saw coming, but you weren't able to exploit?
by Dominic Picarda
Advertorial Feature
With so many big moves in the world's financial markets, there have seldom been more opportunities around for spread traders. Isn't it time you joined them?
by Dominic Picarda
© The Financial Times Limited 2008. All rights reserved. "Investors Chronicle", "FT" and "Financial Times" are trademarks of The Financial Times Limited. No part of these web pages may be reproduced or transmitted to or stored in any other website or other form of electronic retrieval system, without prior permission in writing from the editor.
Warning: Do remember, particularly if you are new to stock market investment that the prices of shares and other investments can fall sharply. You may not get back the money you originally invested. The material here is for general information only and is not intended to be relied upon for individual investment decisions. Take independent advice before making such decisions. This site is aimed at UK residents only. To read more please see our Important Warning
-IC-1.6.1b-prod - 17/12/2008 12:46:12 - jonathan.furseftb
