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Traders Thread - Friday 30th January (ALLD)
Crocodile - 29 Jan 2004 21:53
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US Stocks Blue-chips rally near close, pushing DOW and S&P 500 higher. Nasdaq recovers, too. Interest rates will have to have to rise gradually if the economy runs in line with the government's economic forecast in November, a senior Bank of England official has said. Friends Provident life insurer reported a 14 percent increase in annual life and pensions sales and said it expected to expand market share in 2004. New business sales rose to 429.2 million pounds from 377 million just ahead of analysts forecast of 427 million. HSBC Holdings said it remains open to acquisitions but has no new buys on the horizon. Acambis vaccines maker said it was closing its research operation in Cambridge, eastern England, with the loss of about 40 jobs as it moves to streamline its development projects. Maiden Group outdoor advertising company said it expected to report 2003 pre-tax profit of 5.3-5.5 million pounds adding that 2004 is demonstrating a continuation of the recovery National Express Group was named by the Britain's rail authority to operate the new Greater Anglia franchise in Eastern England. |
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Friends Provident FY Sales 427m exp, Whittard of Chelsea (I)Allied Domecq (AGM), Alibi communications (AGM) Ultimate Leisure Group (EGM) Forever Broadcasting (AGM), Slimma PLC (AGM) 09.30 Dec Final M4 Money Supply y/y 6.7% exp. 09.30 Dec Net consumer Credit 1.4bn exp. 09.30 Dec Net Lending Secure on Dwellings 8.7bn |
Chevron Texaco (Q4) 13.30 Q4 GDP 4.9% exp. 13.30 Q4 Personal consumption 3.0% exp. 14.50 Jan Final Michigan Sentiment 102.7 exp. 15.00 Jan Chicago PMI 62.0 exp. |
Pechiney (F), SAP (F) 07.00 Dec German Retail Sales m/m 0.5% exp 09.00 Nov Current Account 6.5bn exp. 11.00 Jan Industrial confidence 7.0 exp. 11.00 Jan Economic confidence 95.6 exp. 11.00 Jan consumer confidence 16.0 exp. 11.00 Jan Business Climate Indicator 0.0 exp. |
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Melnibone - 30 Jan 2004 14:35 - 11 of 15
Sorry for late reply, been playing at packhorse for Mrs. Melnibone's
shopping. She usually has Friday off from work.
I've been quite cautious this January. As posted, I made a pig's ear
of the first weeks trading and have been carefully making it back and
going into profit again. The danger when you put a string of losing
decisions together is to abandon your strategy and try and 'win it back'
with clouded judgement and too big a position size.
Back on course now.
What you describe with positions running away from you, seems to be
the personal psychological battle we all fight every day. We're so
used to the market taking profit straight back that we get anxious
to take it whilst it's there.
The answer is to move a take profit stop up in line with the price
action. Stick to your rules and it takes the decision away from you.
The only problem I have with building up a dividend stake over a month
is that a lot can happen in a month. I would rather let the market
show me where it's going than anticipate that far ahead and maybe
take a 3% divi on a stock that drops 5% in a falling market.
But if it works for you, then go for it.
Melnibone.
little woman
- 30 Jan 2004 15:12
- 12 of 15
Fortunetly they dropped back again so I picked them up again. The results are due out the 18th February and they are on record as say that the figures are expected to exceed earlier estimates by a comfortable margin.
Melnibone - 30 Jan 2004 18:15 - 13 of 15
this afternoon as unable to log in.
Tried the fix's as advised by the help desk but no joy.
In the end I was advised that my platform was probably
corrupted and I had to uninstall it and download a fresh
copy.
21Mb download later................
Finally back online and missed that nice drop.
Good luck with the new HBOS strategy Testex.
I'm watching STAN as well, little woman, that's why I did
an overnight scalp on it.
Can't decide if it's at the bottom of a trading range, or
trading in a new downtrend channel. That's the impression
I'm getting for a lot of charts at the moment, nothing is
really clear.
Still, makes life interesting, doesn't it, if it was too easy
everyone would be doing it and nobody would work anymore. :-))
Melnibone.
ThePlayboy
- 30 Jan 2004 19:33
- 14 of 15
R2 4451
R1 4421
PP 4406
S1 4375
S2 4360
Fri close was below s1 after loosing 4.3pts in the auction! 2 day ftse chart targeting 4370 unless we get a brk out of the downtrend at 4405 to target 4420, all down to 10480 dow for direction imho!
MONDAY FUTURES PP
R2 4441
R1 4416
PP 4389
S1 4364
S2 4337
WEEKLY FTSE PP
R2 4484
R1 4437
PP 4414
S1 4367
S2 4344
Caught on the wrong side Fri long looking for short closing into weekend, instead got longs panicking closing and shorts comfortable to hold, a sign for next week? Major 10 month uptrend is now broken at 4420, ftse is looking a litte OS atm, so maybe some defensve by the bulls, but on the whole I,m quite bearish for next week, 10375 the level to watch on the dow to try and hold any longer term moves next week, feel we could test the weekly s2 at 4344 imho next week!
Have a good weekend!
little woman
- 30 Jan 2004 20:16
- 15 of 15
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