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Traders Thread - Tuesday 6th January (NXT)
Crocodile - 05 Jan 2004 20:58
| Premarket Futures | FTSE +13 | DAX +10 | DOW -5 | S&P -0.2 | Nasdaq -1 |
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A big rally propels the Dow up over 120, and the Nasdaq up nearly 2 percent, as investors bet on strong 2004 The Euro rose to a new all-time high of $1.2712 in late Asian trading on Tuesday as the dollar showed no sign of ending its long-running decline Next said its Pre Sales Christmas business was better than anticipated the New Year Sales were excellent with lower discounts required. Profits for the year would exceed expectations up 13%. It said it expects pre-tax profits of at least 340 million pounds for the full year which ends in January. The current consensus among analysts is 325 million pounds. Next said like-for-like sales at the store's 304 shops that have traded for at least 12 months were up 2.8 percent year and the best analysts had expected 2.0 percent at best Celltech Britain's biggest biotechnology firm said it had started the first of two final Phase III clinical trials to study its experimental CDP870 medicine as a treatment for Crohn's disease. Topps Tiles wall and floor tile retailer said it was confident of hitting its annual targets after like-for-like sales grew more than 16 percent in the first 14 weeks of its financial year. Majestic Wine: Say sales are ahead of expectations. British Airways: Update later on this morning News will be posted at approx 7:35am |
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British Airways Dec Traffic Figures 12:00am Next Trading Statement Carr's Milling Industries (AGM) Topps Tiles (AGM) 09.30 Dec CIPS Services PMI 09.30 Dec Preliminary M0 Money Supply y/y 7.7% exp. 11.00 Dec CBI Distributive Trades |
15.00 Dec Non-manufacturing ISM 60.6 exp. 15.00 Nov Factory Orders 1.4% exp. |
09.00 BME Services PMI |
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Melnibone - 06 Jan 2004 16:19 - 14 of 15
over bought condition by going down, that the Indices
are working it off by going sideways.
It's done this before and caught many Bears out in the process.
The strength in this market is keeping me very wary of going
short at the moment, even though everything is crying out
for a swing low.
It may go higher and then swing low just back to these levels.
I just don't know the answer, nor I suspect does anyone else.
Melnibone.
Melnibone - 06 Jan 2004 16:25 - 15 of 15
Keeping my eyes on AZN.
It's trying to make a swing low towards the 2550/2600 area
and still seems to be in an uptrend channel.
Edit. Forgot to add, that if it does, then there is a possibility
of a change in trend due to a lower swing high.
Needs careful evaluation.
Melnibone.
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