Investors' Room :: Traders Thread - Friday 7th May - MoneyAM - Free Share Prices, Stock Quotes, Charts, News, Level2

Crocodile - 06 May 2004 21:19

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US News

S&P Futures

Nikkei -132

Hang Seng -78

Asia News

DAX

CAC

Euro News

US stocks sank as investors worried about higher interest rates, rising oil prices and Friday's jobs report.

The FTSE is expected to start positive but with big worries over oil prices they are likely to remain under pressure. Watch out for any companies which could be affected by higher fuel costs such as airlines. Currently oil is trading just under $40 a barrel. The retail sector may fall back following the increase in interest rates yesterday.

Main water companies plan to raise customers' bills as part of a multi-billion pound programme to fund the upgrade of outdated sewage systems and provide cleaner drinking water. United Utilities said it expected to spend 3.2 billion pounds from 2005-2010 as part of this programme, while Severn Trent envisage spending 2.9 billion pounds.

Reg Vardy car dealer said profits would be in line with market expectations

Cattles lender and debt collector said that trading in the first quarter was in-line with expectations and it was confident of a successful year

Calendar: United Kingdom

United States (GMT)

Europe & World (GMT)

Amersham (AGM), Foreign & Colonial Inv Trust (AGM), Premier Oil (Update)

FirstEnergy

13:30 Average Workweek, Hourly Earnings 13:30 Nonfarm Payrolls, Unemployment Rate 15:00 Wholesale Inventories 22:00 Consumer Credit

Deutsche Boerse, Epcos,

Data Download	FTSE Intraday	Calendar	US Zone	HTML Edit	Currency Calc	Dividends	Director Dealings	Broker Upgrades / Tips
David@SnappyTrader.com www.SnappyTrader.com			Pre Market Futures	FTSE +15	DAX -5	DOW +2	S&P -0.5	Nasdaq -1

aldwickk - 07 May 2004 11:38 - 14 of 26

L W
Regards ICI,if the bot selling stops selling will there be a good rise in the price, should you buy for a day trade? whats best to do in this situation.

little woman - 07 May 2004 12:09 - 15 of 26

bosley - JRVS results due out 17th June. I suspect it'll trade sideways until nearer the date. The current price should be discounted to take into account the expected results. I'm afraid its a case of watching the trend for the rest of the month and then decide.

little woman - 07 May 2004 12:12 - 16 of 26

aldwickk - bot stopped selling, but so did the one buying! Someones bored out there, and have being putting in silly orders to make the price move (who puts orders in for 1 share unless they are trying to get the bots to follow!)

little woman - 07 May 2004 12:45 - 17 of 26

I hope no one holds OEM

zarif - 07 May 2004 13:07 - 18 of 26

Happy Birthday Croc -Have a good one.

rgds
zarif

little woman - 07 May 2004 13:40 - 19 of 26

Short term chart shows no support for ICI, so changed long to a short a while back. Can't see where the next support level is at the moment.

Melnibone - 07 May 2004 14:50 - 20 of 26

Happy Birthday Croc, and many more of them.

No trading for me this morning. Decided to get the MOT done
early on one of my cars whilst the market messed about with
the jobs numbers.

We're still in the noisy range on most Indices on the P@F charts
and the swing charts are still messing about.

Sticking to short term trades and scalps until trend resumes
or reverses. I heard someone say on Bloomberg today what I was
saying last week. Lot of this dropping is due to margined
speculative longs that are getting shaken out of the market
because they can't fund the losing positions.

If we go lower we need to watch the last lows, circa 1085 on
the S@P and the corresponding levels on the Indices and stocks
you trade. From memory, I think it was circa 4290/4300 on the
FTSE?

Melnibone.

Melnibone - 07 May 2004 15:27 - 21 of 26

STAN has hit and bounced off the circa 840p support level I mentioned
earlier on one of the previous threads.

Melnibone.

Melnibone - 07 May 2004 16:15 - 22 of 26

Don't forget to move your take profit stops up on STAN now.
This market is treacherous.

Melnibone.

Zoltar - 07 May 2004 19:23 - 23 of 26

Croc's Birthday?????
What company is it that makes candles? Gotta get long ;)
Have a good one!

little woman - 07 May 2004 20:07 - 24 of 26

Melnibone - my stop loss on STAN kicked in a couple of days ago!

pacofran - 08 May 2004 13:34 - 25 of 26

belated birthday wishes to croc..thnx for ur postings on here...i was watching bloomberg on thursday and a regular trader said on his take of the markets that the institutions are staying out at the mo..+he sees s+p going down to 980 so that should equate to the ftse in or abt 4280/4300 give or take a few
points..also i noticed CSR has really jumped consistantly over the last few trading days ..bluetooth technology

Melnibone - 08 May 2004 22:18 - 26 of 26

Sorry to hear that, little woman.
But look on the bright side. They worked.
You can now re-enter lower than your exit point,
if and when you choose to.
You are in control again, not hope and the actions of
other market traders.

If you look at the charts, circa 840p seems to be a support
area. All depends if the last lows on the S@P and Dow hold.
If S@P breaks below the last lows, 1085?, there's no telling
where it stops. Futures down to 1095 already.
If circa 1085 holds then we at the bottom of the trading
range. Lot of folk will be watching these levels.

Melnibone.

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Traders Thread - Friday 7th May (BAY)