| Home | Log In | Register | Our Services | My Account | Contact | Help |
Traders Thread & Thoughts - Monday 24th November (JRVS)
Crocodile - 23 Nov 2003 12:39
| Premarket Futures | FTSE +5 | DAX +14 | DOW +13 | S&P +0.2 | Nasdaq -1 |
|
|
FTSE 250 |
FTSE Small Cap |
FTSE TechMark |
|
|
Nasdaq 100 |
S&P 500 |
S&P Futures |
|
|
|
10 Year Bond |
 |
| UK/US charts have 1,2 or 5 day views. and now FT NEWS & Price link to UK, US & Asian markets. The Dax/CAC and Nikkei/Hang Seng are now switchable | |||
| News: | Sorry Your browser is not java capable | |
|
EMI Group said it had withdrawn its offer for Time Warner recorded music business, saying it was no longer possible to reach an agreement on acceptable terms. Amlin British insurer which operates in the Lloyds of London insurance market said the outlook for underwriting in 2004 was "good" as it posted a 18 percent to 743 million pounds rise in gross written premiums for the first nine months. of 2003 Virgin Express Belgian-based no-frills airline reported a net profit of 1.7 million euros for the third quarter, down from 4.5 million euros the previous year. Revenues slipped eight percent to 62.1 million euros, while operating profit came in at 1.87 million euros, down from 4.45 million euros. UBC Business Media first half loss narrows. Glaxo: A US federal appeals court on Friday rejected the drug-maker's bid to salvage patent protection for its antibiotic Augmentin, once its second-biggest selling product.INVENSYS The engineer struggling under 1.6 billion pounds in net debt could run out of cash by next June if its programme to sell non-core assets fails, British house prices edged up again in November and a crash in 2004 is highly unlikely even though interest rates are likely to rise further |
||
|
|
|
||||||
|
Innovation Group (F), Merchant Retail (I), RM (F), UBC Media Group (I), Workspace Group (Q2), Aggreko (F) |
|
Skandia (Q3) 07.00 EMU Oct German Import Price Index m/m 0.2% exp |
|
|
|
|
|
 |
Crocodile - 23 Nov 2003 12:40 - 3 of 25
| Sunday News: | Sorry Your browser is not java capable |
|
Headlines 23rd November THUS A telecoms firm is to scrap its 118 directory inquiries service after it was criticised by the industry's regulator. Glasgow-based Thus said it plans to withdraw its 118 service "to protect our reputation and quality ethos". British Sky Broadcasting Group's finance director Martin Stewart, who recently missed out on the CEO job, may quit the pay-TV company, the Observer newspaper has reported. Jarvis Plc's chairman Paris Moayedi is likely to step down from the role next week when the engineering and services company reports first-half results, several Sunday newspapers have reported. Private equity firm Apax Partners has explored a possible management buyout of Skandia Life, the British arm of Swedish savings products firm Skandia Insurance, The Sunday Times newspaper has reported. Loss-making German bank WestLB will have to raise its risk provision for its exposure to UK television rental chain Boxclever by some 150 million pounds, a report to be published in Der Spiegel magazine on Sunday says. The financial watchdog is investigating the nation's fund management industry after initial inquiries found it may be guilty of abuses now plaguing U.S. mutual funds, The Financial Times says. |
|
| SUNDAY TIMES QC backs BAs Heathrow fight Tesco pins its fashion hopes on Finest label Monster of the deep wreaks havoc at BAE Kerry Group and IAWS slug it out for Hibernia mmO2, Orange, VOD Mobile phones set to sparkle amid Christmas sales gloom Independent News and Media launches 125m bond issue Jarvis Chairman of rail crash firm to resign Tesco pins its fashion hopes on Finest label Scotland: Macfarlane deal could net 4m D-Day for EMI on Warner music bid William Morrison on a mission to buy back his company Kerry Group and IAWS slug it out for Hibernia HBOS Scots wake up to reality of Halifax deal |
Martha Lane Fox's working day LastMinute.com Vodfather peps up his mobile family, Vodafone HSBC Pick out the stocks that offer best of both worlds LastMinute.com Interview: Andrew Davidson: Martha Lane Fox seeks new worlds to conquer BT Group, Shell, LGEN, Pick out the stocks that offer best of both worlds Hays, Last Minute, Rexham Pick out the stocks that offer best of both worlds Judgment Day: Should you buy shares in Icap? Working Space LastMinute.com Sharewatch: Robert Wiseman Ratner tackles Signet over suppliers BAE Shipbuilders may split duties in bid to cut cost of Navy carriers Ireland: Watchdog may scupper sale of First Active |
| Icap, London's top derivatives* and money-broking group, was started with 40,000 and now has a 1.6 billion market value. Investment group Schroders said Icap has probably one of London's best management teams, acquisitions have been successfully integrated and it has not put a foot wrong. Schroders said it expects the firm to post good interim results on Tuesday and the share price to continue rising. | |
| SUNDAY TELEGRAPH Invensys admits cash crisis Jarvis chairman offers to step down Glaxo loses US antibiotic patent Monsoon activist owns just one share Acambis Ebsworth takes the lead |
Clipper class, Clipper Ventures LastMinute.com 'It wasn't a last-minute decision' Easyjet Stelios on the buses L&G takes a risk |
| Engineering consultancy and support services group Atkins unveiled a 62 million annual loss to March. But following the appointment of Keith Clarke as chief executive and other management changes, the firm looks back on track. Atkins has a strong order book and margins are improving. Confirmation of the group's improving prospects should come in interim figures on December 2. There are still plenty of growth opportunities and it is not too late to buy in. London and Dublin-listed Anglo Irish Bank has managed impressive growth in recent years. There have been fears about the group's exposure to property and economic slowdown. But it should post a 24% rise in annual profits next week and with strong earnings prospects, the shares should have further to go. | |
|
OBSERVER Soaring food sales at Tesco leave rivals far behind BSkyB finance boss ready to quit British Energy BNFL hopes sell-off threat is over Blackstone plots 1.5bn EMI ambush |
Sainsbury Can he be King of all he purveys? Double talk at Telewest Shell, BP Small is smart in oil patch LastMinute.com Dotcom's pin-up princess pulls out |
| There is a saying in the City that when the last bull turns bearish on a company, it's probably time to buy the shares. So now might be the time to buy into one of the most unpopular firms on the stock exchange, Lloyds TSB. Last week, Lloyds' own broker Citigroup finally downgraded its buy recommendation to hold, an uncomfortable moment for any company. But Lloyds, like Abbey National, could soon find itself on an upward trajectory after a period of significant share underperformance. A planned share buyback early next year will strengthen the share price and underpin the dividend*, which already yields 8.5%. Lloyds has fallen so far behind that it should be able to narrow the discount at which its shares trade to rivals like HSBC and Royal Bank of Scotland. | |
|
SUNDAY MAIL Warner chief 'wants EMI merger' Bronfman may need to share costs Market report: Friday close HSBC leads fightback after attack BT 'is sneaking' euro into Britain Eurosceptic MP accuses over kiosks Terrorism fear may hit spending, Consumers are feaerful for the future Portman onslaught 'toxic and terrifying' Society threatens affair whistleblower Mr Quality wanted 'lower spec' meals, New Sainsbury chief's M&S cost-cut plan |
Jarvis chief Moayedi set to resign, Exit comes after damning crash report Jaeger moves on menswear stores, Upmarket brand eyes Ciro Citterio MMO2 is a target for Japanese, DoCoMo eyes rival mobiles firm Bonanza if Boeing ok's 7E7, Futuristic jet deals worth millions British connection in Moscow oil saga, Khodorkovsky ally thought to be in UK Hostile bid on the cards at Derwent, Noe targets London property group Sky to fight 150m a year dish tax bill Murdoch Jnr battles with OfCom boss |
|
INDEPENDENT Rivals ruled out of Telegraph race Daily Mail & General Trust British Energy US puts $90m pressure on BNFL project William Morrison The Week Ahead : The City switches from rugby to ITV |
Marks & Spencer, Morrison The bags full of problems that face the new king of Sainsbury's The Week Ahead : The City switches from rugby to ITV, Granada, Carlton The bags full of problems that face the new king of Sainsbury's |
| Imperial Tobacco reported excellent results last week. While its main markets in western Europe continue to see a decline in smoking due to higher taxes and greater awareness of health risks, Imperial's operations are highly profitable and generate a lot of cash. The key to future growth lies in Asia. If the firm manages to capture even a small fraction of the 1,700 billion cigarette-a-year Chinese market, the impact on profits may be enormous. Investec Securities said the shares 'look extremely good value'. | |
|
SCOTLAND ON SUNDAY Investors hope for good advertising news from Daily Mail Carlton, Granada SMG prepares to fight on in battle over ITV brand Safeway seeks 300p a share bid for Morrison takeover Thus makes move across Border to challenge ailing rivals |
Munro heads west, or is it east? Ryanair Holdings Iomart set for share price jump after upbeat results Allied Domecq Right spirit of self-censorship |
|
INVESTORS CHRONICLE Tips: Buy Marks & Spencer (MKS) at 283p - Fenner (FENR) at 86p - Finsbury Foods (FIF) at 57p - Bristol & West (BWE) at 9p - UA Group (UAS) at 535p. Sell MyTravel Group (MT) at 13.25p. Updates: Buy Victoria (VCP). Sell NXT (NTX). BTG (BTG) is fairly priced. Paladin Resources (PLR) is good value.Company Results: Buy Vodafone (VOD) - Latchways (LTC) - Imperial Tobacco (IMT) - easyJet (EZJ).Sell Capital Radio (CAP) - Invensys (ISYS) - Cambridge Antibody Technology (CAT). |
|
|
SHARES MAGAZINE Plays of the Week: Buy Tenon Group (TNO) at 30.25p - Dewhurst (DWHT) at 105p - Printing.com at 26p. Sell Dixons Group (DXNS) at 134.5p.Updates: Take profits in Xansa (XAN) and Pilat Global Media (PGB).Buy Dimension Data (DDT), XKO (XKO) and Caffe Nero (CFN), Hold Hornby (HRN).Five to Buy on a Fundamental View: Cable & Wireless (CW) - Reuters (RTR) - BHP Billiton (BLT) - Man Group (EMG) - Old Mutual (OML).Five to Sell: Alliance & Leicester (AL) - EMI Group (EMI) - Centrica (CNA) - Scottish Power (SPW) - United Utilities (UU). |
|
|
|
|
|
|
|
ThePlayboy
- 23 Nov 2003 21:41
- 4 of 25
There are two counts, and either should be confirmed on monday.
The first is the red impulse down, with today's action being a minor degree wave ii of the larger (iii) down. If true, we drop rapidly on monday, and a 200+ pt decline would not be surprising.
The other is bullish near term, but still says the top is in. The pattern for both the ending diagonal and the decline now fits quite nicely as shown by the gray leading diagonal.
By this count we have completed, or nearly completed wave 5 and (1) down. If true we rally on monday with the likely extent being the 9750 area. The technical divergences with price support this count for now.
Next week is likely to be a light volume affair with the thanksgiving holiday. Thus a sloppy, light volume rally over next week would fit well with a wave (2) correction here.
No reason here to cover shorts yet, and no reason to do anything other than wait for monday's action to confirm one of the counts..
Updated 11/21 for Monday's market.
Key DOW Levels for 11/24
UP Above 9,650
DN Below 9,580
Consolidating
Dow trades sideways, forms tight consolidation at lows.
From prior commentary, "...The fact that the index has formed a wide range at the lows of the recent downmove implies weakness in the medium term...we could see further trading range movement before a break either way is seen..."
The Dow got a light break of 9,600 this morning, but pulled back slightly and proceeded to trade strictly sideways the remainder of the session, as seen in the 15 Minute Chart.
Looking at the 15 and 60 Minute Charts show that the Dow has now widened the large trading range into an expanding pattern. The index has formed a tight consolidation just above the lower boundary of the expanding range, which we will watch closely for Monday's market. The fact that we are consolidating at the low of the wider range is clearly bearish, and we need to be ready to Short at the lower boundary.
If the consolidation is broken to the upside, that will also be significant, as it will imply sufficient strength to overcome the prevailing negative technical pattern. Therefore an upside break from the consolidation at 9,650 will likely spark a move higher toward the upper boundary of the range at 9,750. Watch the consolidation boundaries for direction Monday. Our expectation is to see a downside break at 9,580.
Short Term Dow
Short term, the Dow has formed a tight triangle consolidation at the lows of the 5 Minute Chart. A downside break is implied, but watch both the upper and lower boundaries for a break Monday morning. Watch 9,650 up, and 9,600 down for short term direction.
Medium Term Dow
In the medium term, we entered the market Short this morning at 9,600, but took a 20 point loss as we were stopped out. No other trades were entered and we are still out of the market. Watch 9,650 up, and 9,580 down, with 20 point stops.
NASDAQ & S&P
The NASDAQ and S&P each traded sideways throughout the session, mirroring the Dow's activity. The tight consolidations that have formed at the lows will be key to Monday's trading. *
Summary
The Dow traded sideways the entire session, forming a tight consolidation at the lows. The index is sitting on the lower boundary of the wide expanding range, which we will watch closely Monday. Watch 9,650 up, and 9,580 down
MON FTSE PP
R2 4340
R1 4330
PP 4313
S1 4302
S2 4286
Close was above Fri pp after gaining 2.4pts in the auction!
WEEKLY FTSE PP
R2 4455
R1 4387
PP 4329
S1 4261
S2 4203
Close was below the weekly s1!
2 day ftse chart trying to brk outat 4320 with an uptrend forming off Thu lows, brk to downside at 4305, tight range! For the longer term its all about 4280!
zarif
- 24 Nov 2003 07:14
- 5 of 25
The past week the stock market sold off without any major bad earnings or economic news. It looks like investors just want to take profit even with some good news. For the week, Dow closed down 140 points at 9628.53. Nasdaq is down 36.38 at 1893.88.
The three strongest groups for the week are: silver, sporting goods stores and consumer services. The three worst performing groups are: drug delivery, specialized health services and jewelry stores.
Most of the economic news for the past week are either in line or better than expected. HPQ?s quarterly revenue and earnings are better than the analysts estimate.
Going into this week, we have GDP-prelimary for Q3, consumer confidence for November, existing home sales for October on Tuesday, personal income for October, Durable goods order for October, Michigan sentiments for November and initial claims on Wednesday.
The technicals.
At the end of the week, Dow closed at 9628.53, above the 50-month ema of 9210.87, 200-week ema of 9264.88 and below 50 day ema of 9644. The monthly and weekly Dow charts are still bullish. The daily chart of Dow is a little bearish. The next daily support for Dow is 9500. The resistance for Dow is 9644 and 9800.
On the monthly chart, Nasdaq closed at 1893.9, at the 50 month ema of 1893, above 200-week ema of 1891 and below the 50 day ema of 1893. The weekly and monthly charts are still bullish. The daily chart is a little bearish. The daily support for Nasdaq is 1880. The resistance for Nasdaq is 1917.
VIX closed the week at 18.98. The next resistance for VIX is 19.6 and the support for VIX is 18.2. VXN closed the week at 29.08. The next resistance for VXN is 30.62 and the support for VXN is 27.5. On Monday, the VIX and VXN might go lower. Since both VIX and VXN are too close to 50 ema, it is still hard to tell whether they would rebound at 50 day ema..
The setup.
Friday?s close tells us that the market might go higher on Monday morning. In order for the market to go higher in the intermediate term, the market has to have follow-through days on the upside on the closing basis. Over the last 11 trading days, the market did not follow through on previous us days. Right now, the market still has down side momentum. A few follow through days with heavy volume might change the momentum.
Right now, it is important to keep options open since the market could go either way in the short term, depending on how the market behaves over the next few trading days. A close on Nasdaq below 1980 is very bearish for the market
Crocodile - 24 Nov 2003 07:40 - 6 of 25
Druid2
- 24 Nov 2003 07:58
- 7 of 25
Melnibone - 24 Nov 2003 09:08 - 8 of 25
If Croc thinks there's a good chance of the FTSE
testing 4250, then I can't find a compelling reason
to take out any new position longs at this point.
With the FTSE at 4350, it may be worth considering
a FTSE short.
Melnibone
little woman
- 24 Nov 2003 09:54
- 9 of 25
Just received some news on one of my long term high risk shares. (Small holding in value, although not in quantity!)
BLLM are consolidating their shares to 1 for 100 held. With a current share price at less than 0.5p and a spread varying between 25-50% should help the share price & spread. Must remember to send my voting papers off.
Douggie - 24 Nov 2003 10:04 - 10 of 25
Crocodile - 24 Nov 2003 10:28 - 11 of 25
Taken 1.25p from Invensys this morning, good start to the week
Crocodile - 24 Nov 2003 11:24 - 12 of 25
little woman
- 24 Nov 2003 12:34
- 13 of 25
Sales - 10.03 mln stg vs 8.42 mln
Pretax profit before exceptionals - 350,000 stg vs loss 14.75 mln
Pretax profit - 1.03 mln stg vs loss of 37.81 mln
EPS - 3.96 pence vs loss per share 1,556.5
And the share price drops even more......
little woman
- 24 Nov 2003 13:52
- 14 of 25
- too many posts on last weeks thread today!
CYH lookin healthier
Juzzle
- 24 Nov 2003 13:53
- 15 of 25
Looks like some very heavy selling today at ULG. Directors or institutions dumping stock? Downward curve has been steepening lately. Anyone know anything?
jzl
Crocodile - 24 Nov 2003 14:14 - 16 of 25
little woman
- 24 Nov 2003 14:29
- 17 of 25
Not so long ago they sold shares at 3 which was oversubscribed. If I had bought the share and watched it go down, and continue down, I would consider getting out and cutting my losses. Perhaps that's whats going on.
Juzzle
- 24 Nov 2003 15:00
- 18 of 25
Crocodile - 24 Nov 2003 15:06 - 19 of 25
Enterprise Inns (F) PBT 169m exp. AbacGroup (F),
Acambis (Q3), Autologic Holdings (Q3), Care U.K (F). Character Group (F), De La Rue (I), Gen(I), ICAP (F), Intec Telecom Systems (F), Jarvis (I), Kingston Communications (I), London Merchant Securities (I), New Look (I), Quintain Estates & Dev (I), Signet Group (Q3), South Staffordshire (I), TBI (I), Topps Tiles (F), Tribal Group (I)
Tesco Q3 Sales
09.30 3rd Quarter Business Investment q/q
09.30 Oct Car Production 3m y/y
little woman
- 24 Nov 2003 15:37
- 20 of 25
Melnibone - 24 Nov 2003 15:53 - 21 of 25
If the S@P can break through the 1049/1050 area,
it should initiate some short covering and lead
to higher prices.
Could be good for the FTSE if it happens.
Bet it's just teasing though. ;-)
Melnibone
stockbunny
- 24 Nov 2003 16:03
- 22 of 25
quite a shock, but a nice one! Agreed BTW on Croc's comments on
LLOY got to be due a come-back in the next few weeks/months,
going fairly well today but way behind HBOS rise.
- Page:
- 1
- 2
| About MoneyAM | Ts and Cs | Privacy Policy | Investment Warning | Content Standards | Corporate Solutions | Advertise With Us | Site Map | © 2025 MoneyAM |
Follow us on Twitter