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Traders Thread - Wednesday 3rd December (GSK)
Crocodile - 02 Dec 2003 21:50
| Premarket Futures | FTSE -4 | DAX -12 | DOW -2 | S&P -0.5 | Nasdaq +1 |
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US Stocks suffered a mild round of profit taking today after hitting new 2003 highs the day before. United Utilities said profits grew 4.4 percent from a year ago, towards the top end of analysts expectations. Profit grew to 171 million pounds from 163.8 million a year ago. Serco Group said it continued to trade strongly and in line with market expectations. The company manages and operates call centres, speed cameras and prisons for government bodies, said in a statement: "In addition, there continues to be a good flow of new bids and opportunities for the Group, both in the UK and overseas and it expects to hear news, in the short term, on bids worth 7.5 billion poundsJarvis said it had won a contract worth 263 million pounds with Norfolk County Council, eastern England, to improve up to 39 Norfolk schools. Rank Group launched a 150 million pounds convertible bond issue on Wednesday to refinance existing debt maturing in 2008. The new issue would be convertible into about 42 million new Rank shares Wolverhampton & Dudley Breweries Britain's biggest regional brewer reported a 1.2% dip in annual profits to 73.1 million pounds but said it had made a good start to its new financial year. Tesco said the interest rate rise by the Bank of England (BoE) last month had not yet had a big effect on consumers De Vere Group hotels posted a five percent rise in annual profit to 39.7 million pounds slightly above expectations and said recent booking trends were encouraging, though trading conditions remained volatile. |
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De Vere Group (F) PBT 38.7m exp. United Utilities (I) PBT 168m exp. Wolverhampton & Dudley (F) PBT 72.5m exp, Upholstery (F), Wagon (I) Expro International (I), Mentmore (I), Reliance Security (I), RPC Group (I), ScSGlaxSmithKline research and development day British Airways Nov Traffic Figures 08.30 Chancellor Brown Addresses European Finance Convention 09.30 Nov CIPS Services PMI 59.0 exp. 11.00 Nov CBI Distributive Trades 26.0 exp. |
Mandalay, QwCommunication (Q) 13.30 3rd Quarter Final Non-Farm Productivity 9.2% exp. 13.30 3rd Quarter Final Unit Labour Costs 5.6% exp. 15.00 Nov Non-Manufacturing ISM 64.0 exp. |
Europe: KLM (Traffic) 08.55 Nov German BME Services PMI 54.5 exp. 09.00 Nov BME Services PMI 56.5 exp. 11.00 3rd Quarter GDP Estimate q/q 0.4% exp. 11.00 Commission Publishes 4th & 1st Quarter GDP Forecast |
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Ex Dividend: 3i Group (5.1), Anglo Irish Bank (EUR 0.1393), Bank Of Ireland (EUR 0.148), Big Food Group (1.1), Body Shop International (1.9), Bodycote International (2.25), Caledonia Investments (8.4), Cranswick (4.4), Croda International (4.02), Daily Mail & General (6.85), Diploma (10), Greencore Group (EUR 0.0758), Helical Bar (6.6), Hill & Smith Holdings (2.15), Johnson Matthey (8.2), Land Securities Group (9.9), London Merchant Securities (2), London Stock Exchange (1.4), Majestic Wine (4.5), Merchant Retail Group (0.75), Pilkington (1.75), SABMiller (US$ 0.075), South Staffordshire (6.1), TBI (0.7), Tate & Lyle (5.6), Town Centre Securities (3.85), United Drug (EUR 0.0297) |
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little woman
- 03 Dec 2003 14:23
- 18 of 35
ajren - 03 Dec 2003 14:38 - 19 of 35
This site is - in my opinion - the best on the board in regards to everyone
seems to be businesslike in a friendly way and nothing is Personalised rgds aj
stockbunny
- 03 Dec 2003 14:54
- 20 of 35
after yesterday's vulture-like performance! MLC climbing on
the back of De Vere's results (sorry guys don't know the epic for
that one!) LLOY can't quite make up its mind if its 'playing' today
or not - currently neutral at 00.00 and MKS looking healthier today.
If the dollar doesn't pull up on the Euro will it be tears be
the end of the week??? 10 to 1 we don't get another interest rate
rise announced tomorrow..
ajren - 03 Dec 2003 14:57 - 21 of 35
ajren - 03 Dec 2003 15:01 - 22 of 35
Melnibone - 03 Dec 2003 15:04 - 23 of 35
Markets are selling off a bit.
Bonds rising a bit.
Melnibone
Melnibone - 03 Dec 2003 15:31 - 24 of 35
around in a range until the employment numbers on Friday.
It looks like this may be happening.
Dow/S@P/FTSE have all tested resistance and failed to go through.
If the market can't make money one way it won't just sit there,
it will try it the other way.
Looks like Bears will make some short money by taking stuff away
from the highs.
Decided to back my view and sold my longs at FTSE 4400.
Expecting to buy them back cheaper.
It's working nicely on BT.A but LGEN is proving stubborn.
Any Bears out there fancy a short on LGEN, please feel free. ;-)
Melnibone.
zarif
- 03 Dec 2003 16:06
- 25 of 35
Have got another short open on the dow and will get the profits asap and be happy hopefully.
good luck today
zarif
little woman
- 03 Dec 2003 16:07
- 26 of 35
Melnibone - 03 Dec 2003 16:15 - 27 of 35
Looks like we both want the markets to retrace a little.
As long as we are enjoying ourselves and making more
than we lose, then that's what matters as far as trading
is concerned.
This is really just a big game, I have trouble taking it all
too seriously.
Melnibone
Melnibone - 03 Dec 2003 16:36 - 28 of 35
back at evens, but I haven't.
I don't like it when the FTSE closes in this situation.
The S@P/DOW are up near their highs and resistance at
1073/9920. There is a good chance of a pullback before
the close at 2100 hrs.(Assuming we don't get a breakout
that I miss) :-(
If this occurs, it will put pressure on the FTSE to gap
open lower tomorrow morning which would give cheaper
prices.
Guess I'll find out. :-)
Melnibone
zarif
- 03 Dec 2003 16:46
- 29 of 35
U r quite right about the 9920/9930 area.
The range on the Dow l see for today is 9830-9920, estimate for Wednesday 9870-9940
Thursday 9900-9970. Friday is the day when we should be falling back but the day will be led by unemployment figures in the US
Anyway these are solely my guesstimates and please DYOR & NAG.
lets see what it throws at us.Could be avolatile session hence give us some opps both ways.
rgds
zarif
Druid2
- 03 Dec 2003 18:30
- 30 of 35
Melnibone - 03 Dec 2003 20:34 - 31 of 35
If it keeps it up to the close I should get the lower
prices I'm looking for on the FTSE tomorrow morning.
After hours FTSE spread is already down to 4374/4378.
In addition to selling my longs I should have opened an
index short, but I don't like to go against a trend.
I prefer to buy on the pullbacks. If you get your timing
wrong but the trend holds it will always come back to you.
If you are counter trend and get your timing wrong it will
run away from you.
Now, fingers crossed for a weak last 30 mins.
Melnibone
Melnibone - 03 Dec 2003 21:09 - 32 of 35
Dow is roughly 40 points lower than it was when
the ftse closed.
S@P is roughly 9 points lower than it was when
the FTSE closed.
FTSE spread at 2100 is 4370/4374.
With a bit a luck we'll get a gap open lower.
Be able to pick some stocks from a sea of red
and take some scalps as it moves back up to try
and fill the gap.
Well, that's the plan. Funny how it never seems
to work out exactly, but at least there's a chance
with these conditions in place.
Fly in the ointment tomorrow could be a surprise BOE
rates decision and a weird and wonderful contrarian
market reaction.
That's what makes trading interesting, it's always
full of surprises.
Melnibone.
Douggie - 03 Dec 2003 21:17 - 33 of 35
Melnibone - 03 Dec 2003 21:24 - 34 of 35
views to make a market and who is to say that mine
is right?
We'll compromise. A lower open for me and a swift
reversal before the BOE decision for the both of us.
How does that sound?
Melnibone.
Melnibone - 03 Dec 2003 21:51 - 35 of 35
waffling again.
Last time, they threw a curved ball and the oil stocks
threw a wobbler.
They are a bit peeved with the non OPEC guys,(Russia et al),
pumping whatever they want and spoiling their party.
Chavez, in Venezuela, needs the Dollars.
Dollar is still depreciating, in case nobody has noticed.
They all seem to be exceeding quotas and playing 3 card
brag as it is, so there's no telling what this lot will
get up to.
Melnibone.
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