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Traders Thread - Thursday 20th November (RSA)
Crocodile - 19 Nov 2003 21:29
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U.S stocks broke a four-session losing streak following a strong report on the housing market, a bounce in the U.S. dollar and some upbeat corporate news. The Nasdaq rose 17.90, the Dow Jones up 66.30 and the S&P up 8.29 Nationwide sees 2004 UK house prices rising 9 pct SABMiller The world's second-biggest brewer reported a big 78 percent rise in half-year profits but said the earnings growth in the first-half, enhanced by currency movements, is not expected to be repeated in the second half of the year. Safeway said its interim profits had slipped to 173 million pounds for the six months against 187 million a year ago as it awaits an offer from rival William Morrison Supermarkets. People close to the company expect an offer before Christmas.Mothercare said like-for-like sales rose 4.6 percent in the five weeks to November 14, and it had maintained an improvement in margins. Results showed it made 13.4 million pounds profit in the 28 weeks against a 10.0 million pounds loss in the year ago period. SSL International the maker of Durex condoms said profit before tax fell to 9.5 million pounds in the six months including an exceptional charge of 12 million pounds. Lastminute.com reported its first annual profit of 200,000 pounds and said its managing director and co-founder Martha Lane Fox would stand down at the end of 2003. Royal & Sun Alliance Britain's second-largest general insurer reported underlying Q3 results consistent with the first half and said it was making good progress on restructuring its U.S. operations. It unveiled an operating loss of 212 million pounds in the nine months to September 30, but the figure included the reserve charge. Its combined ratio, a key gauge of non-life underwriting profitability that measures costs and claims against premiums, had improved to 96.2 percent from 104 percent in the same period last year, beating a consensus estimate of 99.3 percent. |
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FKI (I), GUS (I), Tomkins (I) Great Portland Estates (I) National Grid Transco (I), Royal & Sun Alliance Insurance (I) SABMiller (I), Dimension Data Holdings Limited (F) Lastminute.com (F), Safeway (H1), Hilton group (I) Retail Sales Y/Y M/M for October PSNCR for October PS Net Borrowing for October |
TGT retail, Walt Disney
1:30 Initial Claims 11/15 - 360K 15:00 Leading Indicators Oct - 0.2% 17:00 Philadelphia Fed Nov - 26.0 |
ABB Swiss engineer holds an extraordinary shareholder meeting on Thursday to approve a huge financing plan after the indebted firm nearly went bust last year. Swisscom (I) French-Belgian banking group Dexia (I) |
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little woman
- 20 Nov 2003 10:15
- 12 of 24
It'll be interesting to see what the US does later.
I was intending to buy BT.A earlier, but realised it hadn't bottomed out. In fact it is looking worse now than this morning (and I'm not refering to the price, but the weighted sell orders against buy on L2.)
Melnibone - 20 Nov 2003 10:23 - 13 of 24
I am doing the same, waiting to see how the US reacts.
Watching LGEN and BT.A.
Bit risky to start bottom fishing yet I think.
Melnibone.
little woman
- 20 Nov 2003 10:44
- 14 of 24
I'm now out for the rest of the day - so I shall not be doing anything!
A couple of months (?) ago, I read a comment made by a chartist reviewing BT.A when it was yo-yoing between 1.9/2.1 who said it was at a dangerous point, and although it could suddenly break upward, it was more likely to suddenly drop and not bottom out until it reached the 1.5 level.
ajren - 20 Nov 2003 10:45 - 15 of 24
Nov 19: Mr Hydon,director = 2,224,263 shares aj
ajren - 20 Nov 2003 12:09 - 16 of 24
zarif
- 20 Nov 2003 12:57
- 17 of 24
The market has been spooked by the blasts and results coming out today on YM.The sentiment can change and cause us damage. Also the Options expiring tomorrow i think -beware whipsaws etc.
Croc -what are your opinions for today on the YM. 9625 seems to be supported and brick wall at 9700 yesterday.Which direction are we moving any comments as you are not a crocodile but an ALLIGATOR in my books
rgds
zarif
Melnibone - 20 Nov 2003 14:46 - 18 of 24
I'll keep my powder dry on BT.A.
I think 4280 on the FTSE and and 1038 on the S@P will act
as support/resistance levels today.
People will be shy of buying in this environement.
They won't want to get caught in any new longs unless
they are LTBH looking for a specific buy price.
I see further declines as Bulls bide their time while
Bears have to drive the price down looking for buyers.
Melnibone
ajren - 20 Nov 2003 18:49 - 19 of 24
Melnibone - 20 Nov 2003 19:08 - 20 of 24
All information and views on stocks that we trade on this thread are welcome.
Keep it coming.
Melnibone.
Druid2
- 20 Nov 2003 19:51
- 21 of 24
Melnibone - 20 Nov 2003 20:04 - 22 of 24
Very pleased your LMC short has worked, well done.
Sorry your EZJ isn't going your way, but if you recall
terror attacks were my problem with airline stocks.
Look on the bright side, these are an LTBH buy so short-term
drops are not a problem to you, you may get the 250p support
top-up price that I mentioned.
If not, you are already in and you will be quids in anyway if
your 500p price target is met.
Melnibone.
Melnibone - 20 Nov 2003 20:54 - 23 of 24
Please see my comments on the 'Dow Jones' thread
for my reasoning.
Melnibone.
Druid2
- 20 Nov 2003 23:14
- 24 of 24
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