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Traders Thread - Wednesday 3rd September (ABP)
Crocodile - 02 Sep 2003 22:18
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S&P &Futures (Click for latest)
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Pre Market Futures (7:30) | |
| FTSE | +20 | ||
| TechMark | +4 | ||
| DAX | +25 | ||
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Hang Seng +106
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Nikkei +17
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DOW | -10 |
| S&P | -0.8 | ||
| Nasdaq | -1 | ||
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News Headlines: US stocks powered ahead after bullish analyst calls in the technology sector pushed the major indexes to levels not seen in well over a year. The FTSE 100 is expected to open up some 20 points higher after U.S. equity markets surged through 14-month high following more evidence of a recovery.Gallaher Group tobacco reported a seven percent rise in in half-year profits and said that group trading remains in line with expectations for the full year. They reported first half profits of 241 million pounds compared to forecasts of 227-237 million pounds. Associated British Ports posted a one percent dip in first-half profit to 66.6 million pounds which was less severe than the market feared. LogicaCMG computer services reported a first half pretax profit of 39.4 million pound 28 percent lower on the previous six months. Sales were three percent lower at 854 million sterling and Europe's No. 3 computer services company said order intake in the first half was strong, providing a solid start of the year. Serco Group industrial and government services firm reported a 10.2 percent rise in first-half pre-tax profits on Wednesday and said it was confident of achieving sustainable profit growth. They reported profits of 31.3 million pounds with the market expecting 29.8 million pounds to 31.5 million pounds. Cable & Wirelesss may hand its loss-making U.S. business to management in a deal that could avoid full closure costs of up to 850 million poundsVernalis biotechnology company is preparing to axe more than half its drug pipeline to leave it enough cash for three yearsBP, SHELL may be affected by the seven percent fall in oil prices overnight. McCarthy & Stone the UK's biggest builder of retirement homes said it expected a "highly satisfactory" set of full year results and it had beaten its turnover targets for the year, with unit sales and average selling prices "well in advance" of last year. Somerfield which rebuffed a takeover approach in June, said overall performance was in line with management expectations. Like-for-like sales at Somerfield stores were up two percent, but down 1.5 percent at the group's Kwik Save budget supermarkets. SIG Europe's biggest distributor of insulation products posted a 10-percent rise in first-half profit on Wednesday and said it expected conditions in the second half to be similar to the first.
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little woman
- 03 Sep 2003 00:33
- 2 of 51
thought I would check out if theres anything I need to be aware of as I for one don't intend to get up too early later!!!!!
jules99
- 03 Sep 2003 00:41
- 3 of 51
little woman
- 03 Sep 2003 00:46
- 4 of 51
I'm feeling a bit tired now - driven over 200 miles today, and worked over 8 hours either infront of a computer or just dealing with paper work, and finally got home. You still up too! I've been watching some of the treads you post on, but due to lack of time have been very conservative in my trades lately!
So what are you doing awake at this time of the morning?
jules99
- 03 Sep 2003 00:57
- 5 of 51
jules99
- 03 Sep 2003 00:58
- 6 of 51
little woman
- 03 Sep 2003 01:05
- 7 of 51
I've not actually had time to actually deal yet, and have been warned to stick to the better known shares as they can be a bit slow to react when dealing in the less popular shares. The good thing, is that to deal in UK shares you only need to put 5% of the cost upfront. You can try out a few examples & compare them on the site before you open an account to get an idea of what you can do!
They do lots of different types of CFD's but I'm only interested in the Share CFD's as this is something I am more comfortable with. (and less likely to panic if it goes wrong!)
little woman
- 03 Sep 2003 01:09
- 8 of 51
I'm going to try and find sometime over the next few days and check out what going on generally as I feel really out of date at the moment!
jules99
- 03 Sep 2003 01:17
- 9 of 51
E'g If I open a position and go short for example on BT at 1.82 is it like shares they Short for you at current BID price or better, hence if they fall to 1.72 is the term... Close/Buy position back from Broker...? Differecne is the Profit...
Question also if things go wrong...i.e if I buy shares on T5 and stock goes down, I usually put up money and perhaps sellout at a later date be it 1 month or two...with CFD's if things go wrong is it a case of you can only rollover or Close position only..or can you buy the shares i.e put up the cash...??
appreciated...
ta..
Jules99.
little woman
- 03 Sep 2003 01:31
- 10 of 51
Use VOD as an example. On the main page CMC are quoting 116.5/117.5 and on money-am it closed 116/116.25. You can play with different options and see the results.
I'm not 100% sure about the answers, but to use the account there is a 2,000 deposit required. So thats the amount to play with to learn how it all works! Because the amounts at risk are a lot smaller, (its important to learn with small deals - which it's not possible to do with normal trading through a broker, where this amount wouldn't go far because of the dealing charges!)
I'm sure someone will be able to answer what actually happens in the situations you mention later.
jules99
- 03 Sep 2003 01:39
- 11 of 51
BTW When is the meeting with traders ur organising again??
Cheers...!
Jules99.
little woman
- 03 Sep 2003 01:47
- 12 of 51
I don't know about you, but I need to get some sleep!
LW..........
jules99
- 03 Sep 2003 01:57
- 13 of 51
zzz........................
ThePlayboy
- 03 Sep 2003 07:17
- 14 of 51
WED FTSE PP
R2 4230.6
R1 4217.5
PP 4205.4
S1 4192.3
S2 4180.2
Close was above Tue pp and the weekly pp after loosing 3.9pts in the auction, still closing below the 38.2% FIB at 4209!
Updated 9/2 for Wednesday's market.
Key DOW Levels for 9/3
UP Above 9,550
DN Below 9,425
Rally
Dow rallies, breaks through key 9,500 level.
From prior commentary, "...The index continues the formation of the potential higher low pattern, seen in the Daily Chart. The index must break through 9,500 if further upside movement is to be seen..."
The Dow traded sideways early in the session, forming a tight range at the highs of the 15 Minute Chart. The index finally broke out from the range late in the session, sparking a sharp 107 point rally to the Close.
The index has broken through the key 9,500 level and has officially formed a higher low in the Daily Chart. The fact that such a pattern has formed is indicative of further upside movement in the medium term - especially if the Dow can continue to hold above 9,500.
We want to see a consolidation form, or other signs of strength above 9,425. A break below this level will likely signal a pull-back.
Short Term Dow
Short term, the Dow has formed a tight range at the highs of the 1 Minute Chart from 9,510 to 9,535. Watch for a break from this range for direction tomorrow morning.
Medium Term Dow
In the medium term, we entered the market Long today at 9,463, but were stopped out on the pullback We later re-entered Long at 9,481, and are still in the trade. We will continue to hold stops at the entry for tomorrow's market. Stay Long above 9,550, and look for Shorts bleow 9,425.
NASDAQ & S&P
The NASDAQ and S&P each continued higher today, ending the day at the session highs. The S&P has broken through the large range, while the NASDAQ has formed a successful higher low, both of which, indicate further upside movement. *
Summary
The Dow started the day sideways, but eventually got going to the upside late in the session. The index gained 107 points on the day and currently sits above the 9,500 level, where we are Long. Watch for further upside movement in the medium term.
Crocodile - 03 Sep 2003 07:38 - 15 of 51
Druid2
- 03 Sep 2003 07:57
- 16 of 51
ThePlayboy
- 03 Sep 2003 08:16
- 17 of 51
Crocodile - 03 Sep 2003 09:11 - 18 of 51
Logica motoring again and long this morning. EMI managed to short at last nights closing price despite a 6p divi. Couldnt believe it! +5p
ThePlayboy
- 03 Sep 2003 09:17
- 19 of 51
little woman
- 03 Sep 2003 09:27
- 20 of 51
Just dropping in whilst I have a leisurely breakfast! Day for research....
jules99
- 03 Sep 2003 09:32
- 21 of 51
Tea sounds good, I'll have no sugar plse...lol..
Ta..Jules99
little woman
- 03 Sep 2003 09:47
- 22 of 51
Not a share a would touch nowadays as its a matter of time before they go under, or merge with another struggling co to survive a bit longer!
The banks are finally picking up!
Crocodile - 03 Sep 2003 10:13 - 23 of 51
Any coffee left?
jules99
- 03 Sep 2003 10:20
- 24 of 51
Let me know as I am interested..
Ta..
Jules99.
p.s there's tea in the kitchen...
Crocodile - 03 Sep 2003 10:39 - 25 of 51
No Email, could you resend it please?
little woman
- 03 Sep 2003 11:13
- 26 of 51
jules99
- 03 Sep 2003 11:33
- 27 of 51
Order Book upto 10 Billion up 2.5 Billion, rerating on way...
little woman
- 03 Sep 2003 12:07
- 28 of 51
They went ex div last year on the 11 sept. So I presume they will do the same next week. Payment is pretty quick - 10 Oct! Not sure if I'm tempted to hold this for long or do my usual and go for a quick profit.
little woman
- 03 Sep 2003 12:30
- 29 of 51
the TWT purchase from this morning is now breaking even, and the sets order book still looks good. Hope to bail out by close.
SRP are now breaking even - but the question is whether to ignore and stick it out, or try just go for the quick profit?
jules99
- 03 Sep 2003 12:40
- 30 of 51
vasey
- 03 Sep 2003 12:54
- 31 of 51
jules99
- 03 Sep 2003 13:03
- 32 of 51
Dont mean to sound ignorent, as I havn't read all threads lately but, roughly where is Clitheroe, AND again stupid question -GNI stands for?
aplogies not thnking today...
ta..
Jules99.
little woman
- 03 Sep 2003 13:04
- 33 of 51
Looks like next thursday will be a quiet trading day, with everyone else at Clitheroe! Wish I could join you. :(((((((
vasey
- 03 Sep 2003 13:15
- 34 of 51
You are not being stupid re GNI. I thought it was the plural of a gnu to start with! Actually it is part of the Man Financial empire, based at Sugar Quay in London.
LW: Fine, seems this is the quieter, less testosterone-fuelled traders' thread. Could be developed into a nice little niche....
Clitheroe could be a hoot. Our arrival could double the local population for the day. Certainly they aren't used to so many people being shoe-horned into the local Conservative Club to listen to talks. All day! I'm amazed IDS hasn't been on the phone, offering a key-note speech - to take advantage of this HUGE audience....by his standards.....!!!
Da Bear - 03 Sep 2003 13:20 - 35 of 51
Back from my hols, to find 15 and 17 month highs, its a tough life being a bear, overbought now, like that means squat :-), need to get back up to speed on whats been going on.
So for an impartial point of view been looking at PAUL CHERNEY
On a pure chart read, the Nasdaq has broken out of its trading range. Chartists like to take the high of the trading range minus the low of the trading range and add it to the breakout point for an upside target. When I look at the charts there are potentially two different lows which could be used: the lows from the end of June (Nasdaq 1,598) or the most recent lows in the beginning of August (Nasdaq 1,640). I calculated an upside target for the Nasdaq using each of the lows and those targets are 1,912 and 1,954.
While I have little doubt that at some point the Nasdaq will be printing back above 1,912, the index does have a pretty thick layer of resistance, which will probably cause a stall in the current advance. Chart resistance for the Nasdaq is from March, 2002, and it is well defined: 1,845-1,946, with a thick shelf at 1,846-1,873. Resistance becomes especially cluttered with prints of 1,933 and higher because not only is there resistance from March, 2002, there is also the beginning of resistance dating back to June and July of 2001.
S&P 500 resistance (daily bar charts) was established by price action in June, 2002; it is 1,008-1,041, with a focus at 1020-1031. The next resistance is big at 1,048-1,107, from March, 2002.
Prior resistance levels are now support.
Immediate support for the S&P 500 is 1,015-988 with a focus at 1,015-1,008.
Immediate support for the Nasdaq is 1830-1773, it becomes thick starting with prints of 1797-1778. Support runs all the way to 1737.
Another day of gains is likely for Wednesday.
Cherney is chief market analyst for Standard & Poor's
Crocodile - 03 Sep 2003 13:33 - 36 of 51
D.
Crocodile - 03 Sep 2003 13:34 - 37 of 51
Set a target of 250
skinny
- 03 Sep 2003 13:53
- 38 of 51
little woman
- 03 Sep 2003 13:56
- 39 of 51
Druid2 - I hope you cut your losses with PRU and went long instead as it is still going up!
ThePlayboy
- 03 Sep 2003 14:10
- 40 of 51
Mkt expected to push higher early today, continue to sell rallies for a pullback! Hes looking to sell 1027/28 area, pos first hr pivot.
ThePlayboy
- 03 Sep 2003 14:11
- 41 of 51
For Wednesday, downside is once again favored as all indicators are overbought, however, pullback may be mild as an upper target of 1033 has now been identified. Support below is near 1015 and then 1011, 1006 and 1000. A move below 995 could be very bearish. Support near 1015 or 1011 is favored to be the ideal support line on a pullback
Crocodile - 03 Sep 2003 14:43 - 42 of 51
david@ftsedow.com
hilary
- 03 Sep 2003 14:51
- 43 of 51
vasey
- 03 Sep 2003 15:07
- 44 of 51
little woman
- 03 Sep 2003 15:45
- 45 of 51
jules99
- 03 Sep 2003 15:52
- 46 of 51
sorry didn't mean to ignore, i will be touch ...things are a hectic this sec, eating sending mails, on phone etc...feeding moggy..etc...
Jules99.
little woman
- 03 Sep 2003 16:19
- 47 of 51
Crocodile - 03 Sep 2003 16:32 - 48 of 51
No probs Jules, just didnt want you to think I was not answering your mail
Crocodile - 03 Sep 2003 16:32 - 49 of 51
Da Bear - 03 Sep 2003 21:24 - 50 of 51
well now, i'm hoping they all bought the top.
Druid2
- 03 Sep 2003 22:27
- 51 of 51
Unfortunately still in PRU - patience & margin - will review on a regular basis - hopefully close tomorrow !!
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