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Traders Thread - Thursday 17th July (MSY)     

Crocodile - 16 Jul 2003 22:56

draw?period=1D&action=draw&startDate=10% draw?period=1D&action=draw&startDate=10%

Gold

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fpDJIA.gqplus?511 marketwatch-ss.img?symb=SP500 fpNASDAQ.gqplus?183

marketwatch-ss.img?symb=DAX

S&P &Futures (Click for latest)

globex.png

Pre Market Futures (7:30)
FTSE -3
TechMark -3
DAX -20

Hang Seng -83

Chart

Nikkei -237

Chart

DOW -52
S&P -6
Nasdaq -10

 

News Headlines:    U.S. stocks fell for the second session in a row following weak earnings or forecasts from Ford, Motorola and Lucent.

Northern Rock lent a record 7.8 billion pounds in the first half of this year and posted a 22 percent surge in pre-tax profits, roughly in line with market expectations. Despite warning that it expects UK house price growth to slow over the next year the bank increased its interim dividend by 15.4 percent to 7.5 pence.

Marconi says tough market conditions reduced its sales to 367 million pounds in the April-June quarter, down 31 percent from a year earlier. They said the lower sales reduced gross margin by two percentage points to hit the quarterly operational performance.

British American Tobacco says it is buying Italian state-owned tobacco company ETI for 2.32 billion euros, a price sources close to the deal say exceeds rival bids by 800 million euros.

Galen Holdings says it is in talks that might lead to a takeover bid for the company.

Misys: Produce results ahead of some analysts expectations and increase dividend

Calendar

All GMT

ukf.gifUnited Kingdom (F)inals (I)nterim usf.gifUnited States (Click Flag) euro.gifEurope & World

Thu 16th

Misys (F) PBT 117m exp. ,Bespak (F) Northern Rock (I) PBT 175m exp.New Look AGM & Q1 Trading Statement Dairy Crest (AGM), De La Rue (AGM), Northern Foods (AGM)

Honeywell (Q2), Microsoft (Q2),Coca Cola (Q2), GM (Q2),

13.30 US June Housing Starts 1745k exp. US: 13.30 US Initial Jobless Claims (w/e 12/07) 425k exp. 17.00 US July Philly Fed 7.0 exp.

Nokia (Q2), SAP (Q2)

11.00  May o-Zone Industrial Production m/m 0.4% exp.

Good Trading!   David@FTSEDOW.com    www.FTSEDOW.com

Bloomberg TV          

Pivot Calculator

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ThePlayboy - 17 Jul 2003 07:23 - 4 of 9

Apple Q3 income slides 41 percent
Revenue climbs along with Macintosh computer sales .reported net income of $19 million, or 5 cents a share, down from the $32 million, or 9 cents a share, the company earned in its fiscal 2002 third quarter.

IBM said Wednesday it more than tripled second-quarter earnings from its continuing operations while sales rose just 3 percent as customers continued to delay purchases.N.Y.-based technology hardware and services giant reported earnings in the second quarter, ended June 30, of $1.7 billion, or 97 cents a share, up from $56 million, or 3 cents a share, in the second quarter of last year. The year-ago results included a charge of $1.4 billion to cover job cuts and the cost of exiting money-losing businesses.

AMD narrows loss, boosts revenue Despite computer chip sales that declined "significantly," the Sunnyvale, Calif.-based company said it successfully met its cost reduction goals by lowering its quarterly operating expenses to $769 million, below the $800 million target the company set late in 2002.

Druid2 - 17 Jul 2003 08:11 - 5 of 9

Morning all from an overcast North Wales. Thanks for the pivots/info TP.

ThePlayboy - 17 Jul 2003 11:22 - 6 of 9

RAPTOR:
For Thursday, downside is favored as the index is expected to be in the c of D down in the large wedge off the October lows. In the short time frames it appears that 1 and 2 of c are complete and thus the 3 of c down should begin with a drop early Thursday possibly followed by a consolidation period before the index drops again to complete the 3 of C. Support below is near 984 with the index expected to fall at least 13 points (possibly more) off the prior day close to 982 before a bounce occurs.


No TH hes on his Hols!

ThePlayboy - 17 Jul 2003 13:33 - 7 of 9

US HOUSING +3.7%
JOBLESS 425K EXP ACTUAL FIG 412k

Druid2 - 17 Jul 2003 16:05 - 8 of 9

S.Bartley's views for today.

17/07 European action says we are in a strong wave 3 or C down which still has a way to go. Goodish data has helped to prop the futures but I expect any early peak to run out of steam quickly. Also Philly fed later may disappoint. So with the trend currently down and a break of our major rally trendline, you have to say the bears have the upper hand.

ThePlayboy - 17 Jul 2003 16:42 - 9 of 9

FRI FTSE PP

R2 4107.7
R1 4082.1
PP 4057
S1 4031.4
S2 4006.3

Close below Thu s1 but still above weekly PP, lost 4.1 in the auction, ftse back in the 4054/4085 fib trading range, DJ/SP at close 9072/986!
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