Traders Thread Friday 23rd July 2004

In the UK the Markets had a miserable day closing at lows as a further early sell-off on Wall Street saw the DJIA surrender the key 10,000 resistance level in early trading amid ongoing concerns over corporate earnings and after a surprise fall in US leading indicators.

At the close, the FTSE 100 index was 71.0 points weaker at 4,306.3, its low for the day, with all the broader FTSE indices also sharply lower.

Volume, however, was moderate, with 2.32 bln shares changing hands in 172,425 deals.

On Wall Street by London's close, the DJIA was 73 points lower at 9972.after a mixed batch of earnings reports however (theres that word again!) as seems to be the way the US Markets waited for the UK to close and then rallied closing close to the highs for the day.

The DOW up 4.2 at 10052.33 - the S&P up 2.96 at 1096.84 - the NASDAQ up 14.69 at 1889.06

So with after hours earnings reports from heavy weight stocks Microsoft and Amazon.com there is still all to play for.

Good Hunting
Playful of Oxon

morning all.

good day to get long the financials early doors.

Morning boys and girls.

Short day for me as going away for the weekend around lunchtime. A couple of tidy up exercises to do depending on what happens from the off.

HSD - price has done astonishinly well this past few weeks.
http://moneyam.uk-wire.com/cgi-bin/articles/20040723070000PF3F1.html

KCOM - one of the few telcos to have held up recently seems on track.
http://moneyam.uk-wire.com/cgi-bin/articles/200407230700011319B.html

ATN - contract might give the price a boost as it's done little since floating in March.
http://moneyam.uk-wire.com/cgi-bin/articles/200407230700021387B.html

ATL - trading statment pre-close shows a lot of cash for a 10m company and they generate it too.
http://moneyam.uk-wire.com/cgi-bin/articles/200407230700051442B.html

GGK - after SLY, we've now got other gaming companies doing well by the look of it.
http://moneyam.uk-wire.com/cgi-bin/articles/200407230700051450B.html

SPD - profit? They've never done that before.
http://moneyam.uk-wire.com/cgi-bin/articles/200407230700061467B.html

UBC - info a bit thin on the ground for the AGM. You'd have thought, given the recent price moves they'd have wanted to say a bit more than sales are up 78%. Hmm
http://moneyam.uk-wire.com/cgi-bin/articles/200407230700071472B.html

CCS - FY looks very good, but what the hell does this mean? "As a result of this integration the representative measure of continuing profits versus acquisition based profits cannot readily be derived from the headline reported figures." Plain speaking please! ;-0
http://moneyam.uk-wire.com/cgi-bin/articles/200407230700071478B.html

MLS - placing for more cash
http://moneyam.uk-wire.com/cgi-bin/articles/200407230700081482B.html

FDI - also need more cash, but don't forget what EPD did yesterday.
http://moneyam.uk-wire.com/cgi-bin/articles/200407230700121487B.html

HHO - sounds like a veiled profit warning to me. Words like "disappointing" usually get hammered. We'll see.
http://moneyam.uk-wire.com/cgi-bin/articles/200407230700121488B.html

POR - any company that titles a press release "Profit Upgrade" should be looked at I guess.
http://moneyam.uk-wire.com/cgi-bin/articles/200407230700151503B.html

NTP - they've been on a roll this past week or two. Must be time to grab more cash where it gapped up to. Cynic Al.
http://moneyam.uk-wire.com/cgi-bin/articles/200407230700171512B.html

Apparently the FTSE is being called up at the open. Haven't seen that for a while! ;-))

I'm long AQP, MRS, PLR, WBY and short far too many FTC!

Have a good day.

Al
;-)

PS - a few things to chew over in the next 9 minutes. LOL

Longed VTI and added to AQP.

mornin all

Morning all,

Quick visit before I satrt crawling around floors again.

Nothing's changed.
Still no institutional buying.
Testing bottom of range on low volume, but volume seems to be higher on
the down legs which is not a good sign for the Bulls.
As I suspected on Wednesday night, Dollar slightly stronger and Gold
weaker with a weakness in equities. Don't know how long or how far
those trends will continue.

If the range doesn't hold, we need to be aware of what happened in the
Bear years, where we had what folks called G&C. (Gap and Cr*p).
This is where we gap open higher after a down day, as Bears take profit,
which is met by a further wave of selling and shorting to end the day
lower.

But we are not there yet. We're still in the range, although stuff is starting
to look decidedly dicy.

Melnibone.

Glad I added to AQP! ;-)

Evening all,

I'm afraid, despite my efforts, I have found myself an (rather well paid)
employee again! Why do companies work such stupid hours?

Hope to work flexi-hours, and travelling time is only 10 min, so will try
and drop in to keep an eye on whats going on.

Hijeff, your post No. 3, what a call............was that inside information?