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Traders Thread - Thursday 12th February (BARC)
Crocodile - 11 Feb 2004 21:46
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Dow closes at highest level in more than 2.5 years as investors cheer Greenspan's views Unilever said its 2003 net profit had come in at 4.277 billion euros at the higher end of analysts' expectations, who had predicted a 2003 profit ranging between 3.531 billion and 4.288 billion euros. Niall FitzGerald will retire as chairman Barclays bank said on Thursday that full-year profit rose 20 percent to 3.845 billion pounds, matching analysts' expectations, boosted by growth at its investment banking business. Rolls-Royce posted an 11.8 percent rise in profit to 285 million pounds beating forecasts of 271.75 million pounds. It said it expected to increase earnings in 2004 despite some challenging markets. BT reported a 7% rise in Q3 earnings near the top end of forecasts, on a 2.6 percent decline in revenues. Underlying earnings per share rose to 4.4 pence for the three months with analysts forecasts at 4.3p. lastminute.com posted a narrowing first-quarter loss, and said the second quarter had started well. Centrica reported a 10.5% rise in annual earnings that met market forecasts, helped by strong growth at its North American operations. EPS rose to 16.8 pence from 15.2 pence, analysts had forecast of 16.9 pence. Marconi said its Q3 loss widened slightly but that sales were still recovering. Its operating loss rose to 66 million pounds from 62 million and sales fell 11 percent to 408 million pounds Glaxo, later. |
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stockbunny
- 12 Feb 2004 16:21
- 35 of 44
Will check it tomorrow, but for now I've seen enough red and blue
blocks of colour to last me a week (lol)
Be lucky people!!!
optomistic
- 12 Feb 2004 19:44
- 36 of 44
How do you calculate S3/R3? the other R & S's I use 'Crocs pivot point calc'
Melnibone - 12 Feb 2004 19:59 - 37 of 44
optomistic, use this and just extrapolate to S3.
The calculation for the new day are calculated from the High (H), low (L) and close (C) of the previous day.
Pivot point = P = (H + L + C)/3
First area of resistance = R1 = 2P - L
First area of support = S1 = 2P - H
Second area of resistance = R2 = (P -S1) + R1
Second area of support = S2 = P - (R2 - S1
May I suggest that if you are doing this for longer term positions
that you use the weekly High/ Low/ Close for the purpose of
performing your calculations.
Daily data contains far too much noise for longer position trades, imho.
Melnibone.
optomistic
- 12 Feb 2004 20:27
- 38 of 44
All understood except this 'extrapolate to S3'
As said I use the PP calc for the rest- no problem, its just this S3/R3 I can't get.
optomistic
Melnibone - 12 Feb 2004 20:57 - 39 of 44
So you are basically getting an average of the range.
R1 = 2P - L
R2 = (P - S1) + R1
R3 = (P - S2) + R2
S1 = 2P - H
S2 = P - (R2 - S1)
S3 = P - (R3 - S2)
I think I've got this right, I'm sure that Croc will leap in
and correct anything that is wrong.
Please double check before making any trading decisions, we
just give views here, not necessarily facts. ;-)
Melnibone.
seawatcher - 12 Feb 2004 21:13 - 40 of 44
Can I suggest this link http://www.stelaronline.com/resource/pivot.htm
cheers,
sw
optomistic
- 12 Feb 2004 21:15
- 41 of 44
After reading earlier post by LW consider 'S3' would be a usefull guide to setting stop losses. Appreciate trading decisions are always down to No 1.
Thanks again
optomistic
optomistic
- 12 Feb 2004 22:11
- 42 of 44
That is a great link, takes all the work out of it.
Thanks a lot
optomistic
little woman
- 12 Feb 2004 22:25
- 43 of 44
chartist2004
- 13 Feb 2004 12:01
- 44 of 44
All Longs :- ISYS 20 @ 200 p/p closed @ 19.75 went to 29.
Javis 119.75 @ 50 p/p made 375 went to 152.
OOM 84.5 @ 200 p/p now 90!
S&P 500 (1124 last Wed) @ 10 p/p went to 1158.
Euro/USD 300 points missed in a week @ 2 p/p
This must be the best drop bo***ck PCM Sept 99 bought 2300's worth @ .o95p (just less than a 1p) kept them for about 6 weeks sold em end Oct 99 lost 250 went to 15p in 3/4 months, another 30k down the pan!and speaking of pan PRE dropped 7500 on that one.
SPT 38.5 @ 300 p/p 04-08-03 spiked down to 32.5 2 days later CMC did a 'chrissie'on me. CMC didn't close me out @ 100 margin remaining, they closed me out owing them 450,work that one out. a bad week, was also the day I went on holiday! so instead of returning from hols 4500 up...took the shine off a little. The crazy thing is I pulled out half of me capilal at the end of July, had I not I would be 's in now SPT went to 82p.
And an other CS. long @ 4.5 @ 400 p/p (yes I picked the bottom for once) closed @ 5.75 took 600 off CMC :o) went to 42p! Now what was thingi about letting your profits run.
Here endeth the moan for today, must learn to get to grips with this trading malarkie! Or give up or seek help!
I also have a few good days but not many! DUC + 9K - BLT 5K- GIM 20k - VOC 5k -KWL 6k, now only down 70k in 5 yrs!! :o)
Chrissie hope this cheers you up a little. I know how you feel I realy do, take care Mike...
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