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Traders Thread - Friday 19th December (WTCH)
Crocodile - 18 Dec 2003 23:17
| Premarket Futures | FTSE +8 | DAX +20 | DOW -6 | S&P -0.8 | Nasdaq -2 |
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U.S. stock rally continued as investors expressed optimism about corporate and economic growth after upbeat reports on employment and manufacturing, as well as a number of stock upgrades. Mind you this spike up through the resistance line on the uptrend often signals the end of the rally, as the buying becomes overheated. I am going to take out a small DOW short for a longer term target of a 250 points fall back to 10k or below and I will set a 75 point stop loss. Wilson Bowden housebuilder said it expected results for the year to meet market expectations with profits of 215 million pounds IMI engineering firm said its second-half sales would be around three percent higher with profits in a 136-140 million pounds range compared to 131.5 million pounds in 2002, which included a five million pounds pension credit. RMC the world's largest producer of ready-mixed concrete, said it expects its full year profit to be at the top of the range of market expectations due to disposals and cost cutting. The company said it expects to take a 15 million pound charge in 2003 for a cost reduction programme. It plans to write down 230 million pounds of assets most of which relating to its troubled business in Germany |
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Wilson Bowden (Trading Statement) 09.30 Bank of England Quarterly Bulletin Released 09.30 Nov Car Production 3m/3m FTSE Index changes effective after the close of business |
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Europe: Kaufman & Broad 07:50 French HICP final prev. 11.00 Oct Trade Balance |
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ThePlayboy
- 19 Dec 2003 07:28
- 4 of 36
12/18: Dow is sure looking like a 3rd wave of a larger move up here, with impressive technical support to the move up.
As mentioned a few days ago, a move above 10100 would likely extend above 10200, and so far that has happened.
10K is now the level for covering longs/aggressive shorts by this pattern.
Hard to tell if this is real or just options related/rotation garbage going on.
A continued rally above 10500 from here will likely test the 11750 high before it is done.
Chase it if you're so inclined, but be aware that we have yet to have a significant correction of the move up from 7400, and even if this is part of a new bull market one is due.
If this is a C wave ending diagonal here the retrace will be a rapid one.
If the ndx starts making new highs above 1450 there is nothing to really say it can't keep going and it would be time to go aggressive long.
The old market adage of 'The market can go higher than you think it can, and lower than you think it should' certainly applies here...
Druid2
- 19 Dec 2003 07:39
- 5 of 36
Crocodile - 19 Dec 2003 07:39 - 6 of 36
little woman
- 19 Dec 2003 07:42
- 7 of 36
your're up early Zarif. You don't normally come out to play until lunch time!
I going to be really positive today. Theres no reason why the UK shouldn't do well until US open. The drop predicted for yesterdays close didn't happen - and OK it could happen today, but if it doesn't the the between the US & UK is getting dangerous and could cause major problems if it ever does!
ThePlayboy
- 19 Dec 2003 08:06
- 8 of 36
little woman
- 19 Dec 2003 08:11
- 9 of 36
Crocodile - 19 Dec 2003 08:24 - 10 of 36
BROKER & NEW RATING (FROM) TARGET (PREVIOUS)
COMPANY
=========================================================
CSFB:
Dixons 150P (160P)
Kesa Electricals Outperform 300P (280P)
=========================================================
JP Morgan:
Woolworths Overweight 57P
Carlton Comms Overweight 265P
Granada Overweight 140P
=========================================================
Lehman Bros:
United Business Media 425P
=========================================================
Sarasin:
Roche Buy CHF136 (CHF125)
=========================================================
UBS:
Informa Buy (Neutral)
Misys 240P (315P)
=========================================================
Douggie - 19 Dec 2003 08:30 - 11 of 36
Melnibone - 19 Dec 2003 08:32 - 12 of 36
Dangerous territory here, near the top of the trend
channel, and at options expiry day as others have pointed
out.
All I'm going to be doing from now to Christmas is intraday
scalps. Not interested in playing hero with position trades.
Everything is too frothy and uncertain for me.
Melnibone.
little woman
- 19 Dec 2003 08:34
- 13 of 36
Melnibone - 19 Dec 2003 08:46 - 14 of 36
Melnibone.
Melnibone - 19 Dec 2003 08:53 - 15 of 36
thread, you were certainly right.
I popped off to get a coffee and came back to find it had
popped up.
Looks like it filled the gap from where it opened lower on the
drop.
What I'm unsure about at the moment is this short term trend
channel of lower highs and lower lows.
I'd like it to break before taking a position long.
Patience is a virtue as well as a great wallet saver.;-)
Melnibone.
ThePlayboy
- 19 Dec 2003 09:17
- 16 of 36
Melnibone - 19 Dec 2003 09:21 - 17 of 36
Wall Street's shenanigens last night.
Doesn't seem to be many buyers at these levels.
There was a time when last nights performance in the US
would have brought out a rash of buyers and set up a great
shorting opportunity.
Perhaps everyone is a little more canny these days.
You can't fool all the people all of the time.
Melnibone.
little woman
- 19 Dec 2003 09:59
- 18 of 36
IOT is starting to move upwards.
little woman
- 19 Dec 2003 10:01
- 19 of 36
Fundamentalist
- 19 Dec 2003 10:15
- 20 of 36
Also, can someone explain double witching to me (being a longer term investor its not something I understand)
Crocodile - 19 Dec 2003 11:04 - 21 of 36
Have a look
D.
little woman
- 19 Dec 2003 11:17
- 22 of 36
Fundamentalist
- 19 Dec 2003 11:25
- 23 of 36
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