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Traders Thread & Thoughts - Monday 17th May (OOM)
Crocodile - 16 May 2004 11:03
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Stocks tumbled all over the world following the assassination of the head of the governing council in Iraq, political unrest in India and another rise in oil prices Celltech Group, Belgian USB drugmaker has agreed to buy the company for 1.53 billion pounds, 550-pence-per share in cash a 27.8 percent premium to last nights closing price BAA airports operator reported an inline 4.9 percent rise in annual profit to 616 million pounds following a record number of passengers through its seven UK airports. MmO2 achieved market forecasts with a 59 percent rise in full-year core earnings and a maiden pre-tax profit, and said it was reviewing a payout policy for November. Land Securities Europe's largest property investor reported a rise in net asset value, at the top of forecasts, and said it saw market conditions improving for London offices. Annual profit rose 16.7 percent to 373.1 million pounds , up from 319.6 million pounds. (Regus?) LogicaCMG said it expected first half revenue to be around ten percent lower at its Wireless Networks unit, which would book a loss for the period. Yell Group telephone directory publisher, said its full year net loss widened to 51.1 million pounds due to costs related to its initial public offering, as turnover rose 6.5 percent to 1.19 billion pounds |
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Calendar: United Kingdom |
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United States (GMT) |
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Europe & World (GMT) |
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Abacus Group (I), Care (I), Countryside Properties (I), Enterprise Inns (I), SCS Upholstery (I), BAA (F), Business Post (F), Land Securities (F), Luminar (F), mm02 (F), Yell Group (F), Corin Group (AGM), DataCash (AGM), Fitzhardinge (AGM), Glanbia (AGM) April CPI (08:30) |
Deere and Co, Hewlett-Packard Co AutoDesk, TJX Companies Home Depot, JC Penney Staples, Network Appliance Corp 2.30 pm Building Permits 2.30 pm Housing Starts |
IKB Deutsche Industriebank Medion, Techem |
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Pre Market Futures |
FTSE +10 |
DAX+26 |
DOW+39 |
S&P+4.1 |
Nasdaq+8.5 |
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Melnibone - 17 May 2004 09:12 - 19 of 45
The bombings have skewed everything. Huge gap open down in
the US at these levels. Shock factor will have worn off by the
the time the US opens.
Agree with Insider trader. We are due a bounce at the least as
Bears take profits and bottom fishers cast their nets. Don't
know how far we bounce.
Should be some good trading opportunities here.
Melnibone.
little woman
- 17 May 2004 09:41
- 20 of 45
Insider trader
- 17 May 2004 09:44
- 21 of 45
little woman
- 17 May 2004 10:50
- 22 of 45
ThePlayboy
- 17 May 2004 11:42
- 23 of 45
little woman
- 17 May 2004 12:04
- 24 of 45
ThePlayboy
- 17 May 2004 12:11
- 25 of 45
little woman
- 17 May 2004 12:43
- 26 of 45
ThePlayboy
- 17 May 2004 12:45
- 27 of 45
zarif
- 17 May 2004 12:46
- 28 of 45
rgds
zarif
little woman
- 17 May 2004 12:50
- 29 of 45
Looking at the 2 charts below, I think if the US does go, and we follow, it won't be as bad in the UK as it will be in the US. But until the US elections in Nov, things are going to be very uncertain.
david 2000
- 17 May 2004 13:01
- 30 of 45
david 2000
- 17 May 2004 13:06
- 31 of 45
amberjane
- 17 May 2004 13:25
- 32 of 45
A day to be careful, trading and sunbathing! That suns hot today. Good luck all you shorters!
mpw777
- 17 May 2004 13:58
- 33 of 45
article by andrew smithers 'founder and chairman of smithers who advise leading fund management companies worldwide on asset allocation'.
the sunday times describes ANDREW as being the KING OF THE BEARS.
little woman
- 17 May 2004 14:12
- 34 of 45
My mother doesn't believe in investing in the stockmarket as she remembers every bear run and the losses my father had on each one! Personally I'm tired of waiting for shares to recover. It's easier to cash in, most of the long term stuff, until the dust settles and go short (with a small amount) while waiting to reinvest long again.
stockbunny
- 17 May 2004 15:15
- 35 of 45
much chance of the FTSE recovering any ground I suppose today.
Melnibone - charts etc above were great to read and interesting
thanks for posting.
Picked up some Billiton shares this morning (426p) - well the bargain
hunting territory was too good to waste! I'm going to re-name
Mondays to Bargain Day if this carries on as this is two weeks in a
row I have picked up a good buy at the start of the week!
Melnibone - 17 May 2004 15:31 - 36 of 45
Dow 9920, S@P 1085, NDX 1400, FTSE 4395 were all supports that
are now proving difficult to overcome as resistance.
Bulls really need to push back above these levels if they want
to initiate some Bear covering and move stuff higher.
Last redoubt, they need to hold and close above 1075 on the S@P
to stop a panic sell off.
Melnibone.
ThePlayboy
- 17 May 2004 16:28
- 37 of 45
Melnibone - 17 May 2004 16:39 - 38 of 45
at the finish, thanks, IMHO, to Bear covering and profit
taking.
Don't think it was genuine Bull buying.
As posted this morning, US is closing some of that gap open,
as expected.
Plenty of trading time left in the US to close most of it and then
start dropping again. Should it choose to do so, of course. :-)
Time will tell.
Melnibone.
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