The Footie is down another 5.42 points today and it has generally not been a great week on Football Index as far as prices are concerned. Plenty of players have dropped in price including 63 players who have dropped 10%+ over just the last week.
There have been 24 players rising 10%+ over the last week, but this is mostly limited to the few players who have performed exceptionally well recently and many now have fairly wide spreads.
Why has the market dropped?
A combination of; the bonus period ending, lack of improvements in the platform and another lockdown have been huge contributors to the recent decline in the market.
Overall, sentiment is low and players are becoming more and more valuable as they drop in price. However, it seems few traders have much more money to spend and of course there is understandable uncertainty whilst we go into the transition into a NASDAQ powered system.
What will happen next?
Last Thursday, Football Index informed us that a full progress report would be published early this week and so I expect another update from Football Index very shortly. For many, it is a fairly frustrating time on Football Index and they are certainly acting slower than expected to implement all of the changes that they originally promised.
However, it does seem like better times are now on the horizon. Until then, I would advise generally placing low ball bids on quality, value players and then attempting to sell when sentiment improves.
Which players to buy?
More players will be highlighted on FIC shortly, but in general I am currently looking for players who have a good chance of competing for match day dividends over the upcoming seasons and have potential to improve a considerable amount.
Most importantly, I am looking for players with particularly attractive instant sell prices. Youri Tielemans won match day dividends tonight and has been in strong form this season. Despite this, his price has dropped 2% and so this just shows how negative the sentiment is towards plenty of players and this can certainly be taken advantage of.
More to come on this soon.
Overall, I am very confident in the longer term prospects of the platform and as we have now seen countless times, most temporary drops are met by subsequent rises in the market.