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Traders Thread & Thoughts - Monday June 2nd (CW.)
Crocodile - 01 Jun 2003 12:36
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S&P &Futures (Click for latest)
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Pre Market Futures (7:30) | |
| FTSE | +48 | ||
| TechMark | +4 | ||
| DAX | +29 | ||
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Hang Seng +120
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Nikkei +122
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DOW | +39 |
| S&P | +5.3 | ||
| Nasdaq | +7 | ||
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News Headlines: Big gains overnight on Far East stocks and strong US futures ensure a strong opening for the FTSE & European stocks: Munich Re deliver much worse loss than expected for the first quarter after a 1 Billion Euro write-down: Oil prices may decline 15% in the second half as Iraq oil returns to the market: Many UK companies announced they bought back large quantities of shares for cancellation on Friday: German retail sales rise for the first month in 3: Data shows that semiconductor sales could possibly on the rise: Courts: AZN: Bought 250,000 shares Friday evening for cancellation.
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Crocodile - 01 Jun 2003 12:38 - 3 of 11
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Sunday News 1st June Millions of mobile phone users could find themselves cut off within days in a row between retailers and the Government over who should bear the cost of a new tax on popular pay-as-you-go cards. MyTravel has missed its own deadline for its interim results as the struggling holiday firm tries to sort out vital refinancing for the company. Britains two biggest retail stockbrokers are to start selling controversial and high-risk financial products on the mass market for the first time. Barclay brothers face a bitter battle over their 590m acquisition of the GUS home shopping business from rival catalogue companies. |
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| Eircom, BT Cheapest internet use in Europe, promises Esat BT Ryanair trounces BA with record results of 180m Marks & Spencer Group AIB pares back interest-free credit Sports & Leisure Group Shami Ahmed in sports firm swoop Scottish Power Ministers refuse energy funds Anger as state-supported British Energy reveals 4bn loss Sorrell considers bid for troubled Cordiant Vodaphone Irish Business Digest Scottish Radio Holdings Today FM in tune with 2.5m profit HBOS buyout plan in Australia triggers scrutiny New C&W boss will focus on Britain Allied Irish Bank AIB alleges year delay cost $500m Ryanair trounces BA with record results of 180m BT GroupHoldings Irish Business Digest Ryanair Holdings Airline dogfight starts to get catty Allied Irish Bank pares back interest-free credit |
Tesco, Sainsbury: William Lewis: King of the supermarkets must guard his crown Vodaphone Colossus of the mobile world GUS Inside the City: Paul Durman: Shareholder value mantra is meaningless Capital Radio, Game Group Former DJ who tuned Guardian into radioland Share of the week: Colt Telecom BT Group Business Letters Peace plan for GUS starts to take shape Vodaphone Shareholder value mantra is meaningless EMI Focus: Music gets the blues British Energy Sharewatch: Nuclear fallout Stream Group Investors should review their AIMs A Share in the Boardroom: Wyevale Garden Centres Paddy Power Against the odds Edinburgh Fund Managers: Former EFM chief speaks out P & O Princess Cruises Investors turn on Carnival |
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| British Energy to write down 3bn on plants BIL considers suing former Thistle board Rowland planning 50m Austin Reed bid Dixons prepares to Freeserve | City Comment Invensys BT City Diary BT, Greene King, HSBC ComputerLand Carphone stays in Germany Scottish and Southern Energy Bondholder row halts Midlands sale | |||||||
| Observer | WPP takes aim at Cordiant Communications Harvey Nichols boss eyes Harrods British Energy nuclear power stations are now worth 4bn. In 48 hours that halves WPP takes aim at Cordiant |
Throg Street Lloyds TSB, EMAP, Cable and Wireless Harvey Nichols Tycoons join sale queue at Harrods Vodaphone How good a City Gent is he? Stenham out in Telewest purge |
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| Independent | British Energy Double blow rains down on nuclear energy Boots goes for big stage in West End C&W to perform 600m U-turn The Thing Is: 'GUS was viewed as a fuddy-duddy company with a lot of different parts' BT fights a rearguard action |
Faith, hope and C&W Why Tesco (and others) are rushing to shop at boutiques HSBC 'Payment for failure'? The Government should know all about that Group Debt-laden FKI has to slash payout |
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| John Menzies is buoyant VodaphoneThe mobile mogul calls it a day British Energy in write-down survival bid EMAP Battle over radio franchise title set for court Diageo Black day for Guinness purists C&W mulls sale of loss-making US outfit Macdonald Hotels Not the retiring type | BAE Systems Diageo A good name is domain attraction BAA Retail therapy is on hand as war and Sars take their toll Strength of rand makes Thistle Mining see Daily Mail & General Trust Press ad rates set to slow HSBC Bank brokers hefty deal for director | |||||||
| Tips:*Buy Alliance and Leicester (AL) at 828p - Alfred McAlpine (MCA) at 238p - McBride (MCB) at 74p - Infast (INS) at 31p - Camec at 2p - Broadcastle (BCS) at 58p. Tip Updates:*Buy GB Group (GBG) - JKX Oil & Gas (JKX) - Goshawk (GOS). *Sell Compco (CMP).*Hold Capita (CPI). Company Results: *Buy Compass (CPG) - Scottish & Southern (SSE) - BPB (BPB) - National grid Transco (NGG) - Man Group (EMG) - Merrydown (MYW) and Genus (GNS). *Sell RM (RM) and Capita (CPI). | ||||||||
| The Plays of the Week: *Buy Galen Holdings (GAL) at 555p - GB Group (GBG) at 15p - Glenmorangie (GMGA) (long-term) at 775p.*Sell Kensington Group (KGN) at 260p. Tip Updates: *Buy/hold First Quantum Minerals (FQM).*Hold Intec Telecom Systems (ITL) and Detica (DCA). Profit Growers: *Buy Sports & Leisure (SOP) at 6.75p - Telecom Plus (TEP) at 187.5p - Dana Petroleum (DNX) at 12.75p - DRS Data (DRS) at 37p - Gyrus (GYG) at 217.5p - Celsis (CEL) at 22.75p - Belgravium Technologies (BVM) at 13.5p - Entertainment Rights (ERT) at 7.37p. Company Profiles:*Marchpole (MPH) - Ideal Shopping Direct (IDS) - GET Group (GTG). | ||||||||
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Crocodile - 01 Jun 2003 12:38 - 4 of 11
kevinmcm
- 01 Jun 2003 15:28
- 5 of 11
From the 12/03 to the 8 day Fib of 21/03 ( peaked on 20/03 ) gave a projected Fib 1.618 level of 4077 ( reached on the 29/03 ) as it was a continuation. If it continues up this week the next levels are 4129 & 4212. I suspect due the the overbought levels we are seeing that upside will be limited or has started to turn early ? The last circled point on the chart is the 1.618 Fib continuation level. It seems likley that we will meander up for a few more days till the end of the week and possibly be over 4100.
On the chart we have two Fib dates which tested the upper Bolly and two which have touched it but are not Fib dates but it does look like it is starting to wane.
If it does pull back I have the first few retrace points at 3995, 3966 & 3943.
Melnibone - 01 Jun 2003 20:32 - 6 of 11
I agree with following the trend but I think that the FTSE trend
will only continue if the S@P breaks above this 960/965 area and
turns it into support.
If it does then your initial target of 4200 for the FTSE looks
good.
If it breaks down then the fall could be quite dramatic. Bulls will
be seeing their only decent gains for a while melting away and will
take profits.
Bears are hurting and will jump on the back of any sign of weakness
and increase the selling pressure.
I feel that the key is the S@P, not the FTSE holding above 4000.
Melnibone
Crocodile - 02 Jun 2003 07:32 - 7 of 11
Melnibone I am a long term Bear but I trade what I see. I do agree that when the fall comes it could be very sharp!
Morning all...
Crocodile - 02 Jun 2003 07:39 - 8 of 11
little woman
- 02 Jun 2003 13:32
- 9 of 11
Your comments are interesting, as I was wondering how long the current trend was going to hold. It seems to be on a upward trend, but the signs show it is struggling. I have been investing for short term gains, and holding quite a lot of cash waiting for a sharp drop. Perhaps I won't have to wait as long as I thought I would!!!!
kevinmcm
- 02 Jun 2003 16:34
- 10 of 11
little woman
- 02 Jun 2003 17:39
- 11 of 11
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