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Traders Thread Wednesday 5th November (PILK)
Crocodile - 04 Nov 2003 21:35
| Premarket Futures 23rd Oct | FTSE -8 | DAX -1 | DOW -9 | S&P -0.5 | Nasdaq -0.5 |
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| 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 | |
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US Stocks stocks closed slightly down with the Dow Jones finishing some 19 points lower after Monday's strong gains. MFI Furniture said its third quarter sales were flat as growth slowed right down during the exceptionally hot summer. Group turnover for the 44 weeks to November 1 rose 16 percent in total to 1.273 billion pounds Shanks waste management firm posted an expected fall in first half profits and said its UK waste services unit was showing signs of improvement. They said profit fell to 14.1 million pounds against 19.1 million a year earlier with analysts forecast of around 13.7 million pounds. Electrocomponents electrical and industrial parts distributor said it did not expect a rapid improvement in trading as they posted a 2.2 percent fall in profit to 45.3 million pounds on 6 month sales up 1.0 percent to 369 million pounds. FirstGroup bus and train company met forecasts with a small rise in first-half profit to 56.8 million pounds after being hit by higher pensions costs and lower rail subsidies. The analysts' forecasts was 56 million pounds Pilkington glass maker reported first-half profits up 11 percent, at the top end of expectations althoughit said trading conditions remained difficult. Profits came in at 84 million pounds compared with analyst estimates of 82.5 million pounds. |
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AVEVA Group (I), Shanks (I), Big Yellow Group (I), Electrocomponents (I), FirstGroup (I), MFI Furniture (I), Millennium & Copthorne Hotels (Q3), Pilkington (I), Shire Pharmaceuticals (Q3), Volex (I), Yates (I), Fenner (F), Netb2b2 (F)Goodwin (AGM), Redrow (AGM), Sygen International (AGM) JP Morgan Fleming Mid (AGM) Sept industrial/manufacturing (0930) CBI Small and medium enterprises survey (11:00) NIESR GDP estimate (13:00) Bank of England MPC meeting |
Cisco Q1, Qualcomm Q4 Watson Pharmaceuticals Q3 15:00 Factory Orders 15:00 ISM Services |
Accor F Q3 Adidas-Salomon D Q3 Douglas Holding D Q3 Hugo Boss D Q3 LION Bioscience D Q2 |
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Ex Dividend: Aga Foodservice Group Plc 2.2, Alexandra Plc 1.7, Austin Reed Group Plc 2.5, Beazley Group PLC 0.25, Bloomsbury Publishing Plc 0.474, Chloride Group 0.8, Collins Stewart Tullett PLC 2.5, DFS Furniture Plc 17, European Motor Holdings Plc 3.4, Finsbury Food Group PLC 1, Game Group Plc 0.5, Giardino Group Plc 1.9, Hunting Plc 1.25, Intertek Group PLC 2.9, Jennings Brothers Plc 2.4, Johnston Group Plc 5.25, Laird Group Plc 3, Lincat Group Plc 12.9, Malcolm Group PLC/The 1.7, Marshalls Plc 3.65, Matalan Plc 2.7, Northern 2 VCT PLC 1, Peacock Group Plc 2.5, Quadnetics Group Plc 2, Radamec Group Plc 3, St Ives Group PLC 12.15, Taylor Nelson Sofres PLC 0.95, Ted Baker Plc 3.2, Unilever Plc 6.16, Whitbread PLC 6.15, William Hill PLC 3.5 |
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Melnibone - 05 Nov 2003 18:18 - 31 of 36
No, I didn't short AVZ. I like to keep things simple and use
Trend/Support/Resistance.
Trend is currently up so I don't try and fight it.
What I look for is opportunities to buy stocks on support and
if I think everying is way over bought I sometimes look to short the
FTSE.
When the bear returns and the trend turns I'll be looking to short the
FTSE on the bounces and ignore stocks unless they get a big bounce for
no apparent reason except a Bear Squeeze.
Melnibone
Melnibone - 05 Nov 2003 18:30 - 32 of 36
The world and his dog are waiting for the US payroll numbers.
US markets are just range trading near their highs whilst they wait.
If they come in strong the DOW will head off towards 10,000
and take the S@P with it. There will be a big bear short
squeeze that will accelerate the process.
What do you think would happen to you if you happened to be
short a FTSE stock?
Unless your stop is one of the paid for guarenteed variety
you will be joining a long stack of closing Bears and buying
Bulls watching the price rocket with no sellers.
Melnibone
zarif
- 05 Nov 2003 18:42
- 33 of 36
any ideas on the dow today as seems in a stupor today around 9800 +/-15 say for the last hour atleast.
what topside do you think it will achieve if any today?
rgds
zarif
Melnibone - 05 Nov 2003 18:53 - 34 of 36
My guess on the Dow would be no better than yours or anyone
elses.
As I said, it will just range trade. Where it finishes will
just depend on which part of the cycle it's in as it nears the close.
If the Bears are in profit it will rise towards the close as they
trouser their profits.
If the Bulls are in profit it will drop as they trouser their profit.
I doubt any position traders are taking new positions, this will
just be price movement by the day-traders.
Melnibone
zarif
- 05 Nov 2003 19:09
- 35 of 36
rgds
zarif
Melnibone - 05 Nov 2003 19:28 - 36 of 36
RBS as a proxy for the FTSE.
Treat the pence on RBS as points.
Today the FTSE had a 42 point range and dropped 27 points.
Today RBS had a 42 pence(points) range and dropped 29 pence(points)
For every 1 a point you trade the FTSE you put approx 4300 up front
on a 3 point spread.
For every 1 a pence(point) you trade RBS you put approx 1580 up front
for what is often a 2 pence(point) spread.
Think about it.
Melnibone
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