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Traders Thread & Thoughts - Tuesday 13th April (EGG)
Crocodile - 10 Apr 2004 09:32
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S&P Futures |
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DR DOOM: House prices are set to crash, according to Tony Dye, the London fund manager who earned the nickname "Dr Doom" after he predicted a collapse in global stock markets in the 1990s. Dye was quoted in Tuesday's edition of the Financial Times as saying he expects a 30 percent drop in London house EMI denied it had ever misreported its sales and contested media reports which said hip-hop record label Avatar had made the allegation against EMI in a U.S. law suit. Canary Wharf, Canadian Brascan said it had extended its offer by 11 days to April 19. BAA reported a 4.4 percent rise in passenger traffic for the year ended March 31, with a record 133.4 million passengers travelling through its airports. March passenger traffic rose 10.4 percent. |
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BAA (March traffic figures), Informa (EGM) 08:30 Feb house prices 10:00 BRC March Retail Sales Monitor |
Merrill Lynch (Q1), Intel (Q1), Public Service Enterprise (Q1), Amsouth Bancorp (Q1), C R Bard (Q1), Dow Jones (Q1), Johnson & Johnson (Q1), Linear Technology (Q3), Marshall & Ilsley (Q1), McDonald's (Q1), BB&T Corporation(Q1), State Street (Q1), Pepsi (Q1), 13:30 Business Inventories Feb 0.3%, 13:30 Retail Sales Mar 0.7% 19:00 Treasury Budget Mar $72.5B |
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| David@SnappyTrader.com www .SnappyTrader.com | Pre Market Futures | FTSE +10 | DAX +30 | DOW -1 | S&P +0.5 | NAS -0.5 |
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Crocodile - 11 Apr 2004 10:50 - 4 of 24
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Sunday Newspapers: Shell was already warned 18 months ago about the dangers of linking management bonuses to oil and gas reserves, the NRC-Handelsblad newspaper revealed. Mayflower executives created a 17m black hole by abusing an invoice-collection system, the companys administrator, Sunday Times M&S Leading shareholders in Marks & Spencer have issued an ultimatum to chairman Luc Vandevelde: commit yourself fully to the company or quit. |
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mm02 Mobile company chief's share options are like telephone numbers |
Forget the Big Spend: the future for M&S is pants Directors' Deals: Founder sees telecom's plus side Ashtead fails to fix weak controls Judgment Day: Should you buy shares in Kingspan Group? PIPEX Comms Should you take AIM at small companies? Judgment Day: Should you buy shares in Cattles? Sharewatch: Kenmare Resources |
| Rank will have been pleased by last week's report on the Government's draft legislation to shake up Britain's gambling laws. A parliamentary committee agreed that the laws needed updating, but proposed restrictions that would deter many US operators from entering the UK market. Rank should benefit from this and there are plenty of further opportunities for growth. Buy at 332 1/2p. Alizyme has attracted investors since it reported successful progress of its treatments for obesity and irritable bowel syndrome last year. However, many were put off by the absence of a licensing deal for its latest products at the time of its annual results at the beginning of this month. Shares, which have fallen by 20% in the past two weeks, now offer solid value. Buy at 159 1/2p. | |
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SUNDAY TELEGRAPH Auditor warned Shell Marks & Spencer Group ditches 'drab' green Dennis to take Mayflower hit Centrica, Group City comment |
Amersham 'I'm a GE black belt' Air Partner The coy royal pilot M&S needs more than a makeover |
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William Hill has had a spectacular run over the past 12 months, culminating in a place on the FTSE 100 index. Improved annual profits, changes to the law to allow fruit machines in betting shops and indications that it will begin a share buyback programme have helped to propel shares higher. But the prospect of new gaming companies such as casino operators entering the market sour the long-term outlook. Sell at 517p. Mothercare has enjoyed a trading revival over the past 12 months, enabling its share price to recover significantly. But chief executive Ben Gordon has warned of tougher comparatives going forward, while problems continue at the group's Daventry distribution centre. Sell at 329p. Lastminute.com (217p) has announced the departure of vice-chairman and major shareholder Clive Jacobs. From May 13 Jacobs will be free to sell his 3.9% stake, currently worth around 25m. There is mounting speculation he will dump a significant stake. Sell. Tesco (250 1/2p) should come out on top of the latest supermarket price war sparked by Asda last week. Keep buying. |
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OBSERVER BSkyB Premiership in 250m overseas TV rights deal Marks & Spencer bosses under siege EMAP Thirty bidders enter race to save Face from closure Royal Bank of Scotland Goodwin in line for 8m bonus |
Whitehead Mann, The headhunter's queen bee Will Rolls-Royce be rolled over? ITV Premiership in 250m overseas TV rights deal |
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MAIL ON SUNDAY MGM Mirage in Wembley bid war, Casino giant trumps Kerzner by 14m Marks & Spencer hit by downgrade Morrisons outstrips rivals... as Asda cuts its prices BAE Systems to cut 1,000 jobs, Lancashire losses confirmed SurfControl on crest of a wave, Invoices total up 21% Champagne figures for LVMH, Full-year targets revised More oil stocks shocks at Shell, Oman reserves hugely overstated Marshalls man for Thorntons, Builder takes chocolate chair New boss slams excesses at Boeing, Shocking profligacy of old guard Wal-Mart gets the thumbs down, Town votes to reject store plan |
Yahoo! doubles first-quarter profits, Internet giant beats expectations Bankruptcy threat to housing boom, Mortgage lenders warn over debts Intel raided over 'unfair practices',Swoop on chip maker's Japan offices Dell lifts revenue forecast to $11bn, Overseas sales boost computer giant Eurotunnel lenders slam rebels, Creditors form war council Jackpot for UK casinos, Reforms hit global players Mayflower fears raised a year ago, Pirc asked governance questions Canary bidders made to sing, Takeover Panel sets deadline JP Morgan brightens Sky |
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INDEPENDENT WPP, ITV tries to calm City over fears of ITV-style bonanza for Sorrell |
M&S: St Michael will hope the City has the patience of a saint |
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SCOTLAND ON SUNDAY Sky finally puts its house in order with switch to US Profitable Megabus is just the ticket for Stagecoach Baillie Gifford consolidates Asian presence with 1.6bn Japan fund Radice under pressure to deliver and revive fortunes at M&S Ua Group Farmers step up interest in merger for auction group |
Lloyds TSB, New bank role Alliance and Leicester In the uncertain world of the stock market, it makes sense to use protection Scottish and Newcastle sells city plot of land for 10m New Sainsbury's chief plans big changes |
| THE BUSINESS | |
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INVESTORS CHRONICLE Turning Penny Shares into Pounds': Virtue Broadcasting (VTB), Cater Barnard (CRB), Carbo (CAB), Stanelco (SEO), Vianet (VIA), Digital Classics (DTC), Healthcare (HCEG), iTrain (IRN), MOS International (MOI), Chelford (CHR), Croma (CMG), CYC (CYC), Fundamental-E (FEI), Hereward Ventures (HEV), Multi (MLT), NetB2B2 (NEB), Prime People (PRP), Top Ten (TTH).Tips: Buy Xansa (XAN) at 86p, Molins (MLIN) at 321p, Straight (STT) at 101p, Birse (BIE) at 15p, Albemarle & Bond (ABM) at 101p. Sell Bradford & Bingley (BB) at 295p.Updates: Buy, Northern Rock (NRK) and HIT Entertainment (HTE). Hold, DFS Furniture (DFS) and Coral Products Synergy Healthcare (CRU) is fairly priced.Company Results: Sell Johnston Group (JHT). Buy Personal Group (PGH), Havelock Europa (HVE), Antonov (ATV). |
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SHARES MAGAZINE Plays of the Week: Buy Hunting (HTG) at 127.5p - Earthport (EPO) at 2.62p.Updates: Buy Melrose Resources (MRS), iTrain (IRN) and Clarity Commerce Solutions (CCS). Sell Aerobox (ARX) and Sopheon (SPE), Hold Tissue Science Laboratories (TSL).Analysis: Ramco Energy (ROS), Arena Leisure (ARE), Torotrak (TRK). |
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| David@SnappyTrader.com www .SnappyTrader.com |
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little woman
- 11 Apr 2004 21:42
- 5 of 24
Mayflower executives created a 17m black hole by abusing an invoice-collection system
Did the Auditors not check? When did they take out the confirmation of outstanding balances with random debtors, and confirmation of settlement from audits?
I remember, years ago having a auditor refusing to sign off because they wanted proof that one of the long term debtors still owed the amount outstanding. I was surprised because they also audited the other company, and had refused to sign off thier accounts too. I eventually managed to solve the problem by getting them to pay up. (They had a VAT inspection and required written confirmation that part of the VAT that they had reclaimed, years earlier which we had paid on their behalf - which actually formed part of the debt we were owed - that we had not reclaimed it - and I refused to provide it unless they paid up!)
kantona - 11 Apr 2004 23:54 - 6 of 24
Crocodile - 12 Apr 2004 00:43 - 7 of 24
Trying to get it changed!
D.
ThePlayboy
- 13 Apr 2004 07:15
- 8 of 24
Key DOW Levels for 4/13
UP Above 10,535
DN Below 10,490
Consolidating
Dow rallies at Open, holds gains throughout session.
From prior commentary, "...The index ended the day near the session lows, but is currently holding up at 10,400. A break below this level will likely spark another push lower Monday, while an upside move through 10,480 will key in strength..."
The Dow opened the session in strong fashion this morning, breaking above 10,480 early, which set the tone for the day, as seen in the 15 Minute Chart. The index held on to gains throughout the day, as the Dow formed a tight consolidation at the highs of the session, retaining 74 points of gains.
The fact that the Dow was able to hold on to the day's gains and has now formed a bullish consolidation hints at strength for tomorrow's market. An upside break from the consolidation at 10,535 will make for a test of resistance at 10,570 tomorrow.
However, a downside break from the range could also provide a decent move. Therefore, we will watch 10,490 down, as a break here will cause a push toward recent lows.
The overall medium term outlook looks positive, as the Daily Chart shows that the Dow may be in the process of forming a higher low above 10,400. Such a pattern implies a continuation higher. An upside break through 10,600 will confirm such a move.
Short Term Dow
Short term, we will watch the tight consolidation that has formed at the highs of the 5 Minute Chart from 10,495 to 10,525. Watch for a break from this range for direction at the Open.
Medium Term Dow
In the medium term, we entered the market Long this morning at 10,494 and are still in the trade. We will continue to hold stops at the entry and will want to stay Long above 10,535 tomorrow. We will look to enter Shorts below 10,490, with 20 point stops.
NASDAQ & S&P
The NASDAQ and S&P each rallied alongside the Dow today, forming consolidations at the session highs. The consolidations imply further strength, watch for a break tomorrow. *
Summary
The Dow rallied sharply at the Open today, and was able to hold the strength throughout the session, which is positive heading into tomorrow's market. Watch for a break from the consolidation for action tomorrow.
Crocodile - 13 Apr 2004 07:36 - 9 of 24
D.
amberjane
- 13 Apr 2004 08:09
- 10 of 24
Thought I'd start this week a bit different and get up for the market opening! Have a good week everyone.
little woman
- 13 Apr 2004 08:20
- 11 of 24
Well done amber - you can go back to bed in an hour!
amberjane
- 13 Apr 2004 08:31
- 12 of 24
I may well need to, having done two transactions already. This would normally be a weeks work for me, must have been the inspiration at Bristol.
little woman
- 13 Apr 2004 08:58
- 13 of 24
Look at the FTSE go - Must have been a really good Easter for many, to put them in such a Bullish mood!
snoball
- 13 Apr 2004 08:58
- 14 of 24
vasey
- 13 Apr 2004 09:29
- 15 of 24
stockbunny
- 13 Apr 2004 09:48
- 16 of 24
as to when I'll call it a day. Annoying thing is it may well
continue to rise for some time to come, due to the buy backs
and the less favourable view of rival Shell...But I could do
with releasing the funds and pocketing the bit of profit.
Good luck all today, it has looked quite positive from the start!!
snoball
- 13 Apr 2004 11:02
- 17 of 24
little woman
- 13 Apr 2004 12:23
- 18 of 24
The companies fundamentals don't justify the fall, I don't think the news does either (unless someone knows something I don't) - can anyone let me know what they think the charts are saying?
optomistic
- 13 Apr 2004 14:24
- 19 of 24
I am only a novice in the charting area so my findings can only be taken as my opinions. Looking at BT I notice a bearish MACD crossover in the third week of March which generally indicates a change of trend, the RSI falling away,
and the ADX line in the DMI ADX indicator falling through 20 towards 10, an area which can be said to be a 'nothing much happening area'
All in all nothing really suggests a strong sell but I also think there is not a lot to suggest a buy at the moment. I am sure you will have wisely put a stop loss in place in case the bears gain strength.
I do hope this helps and I would be interested to hear the views of any advanced chartists on my musings.
opto
apple - 13 Apr 2004 16:16 - 20 of 24
You said that you were amazed that Mayflower executives created a 17m black hole
I'm not & I sold my Mayflower shares when I found out that John Major was involved so I had a lucky escape.
They could put anything past that twit.
He was only there to put up a front because people think that he is honest.
If I had done more research then I would have found out about him.
I only bought because of the wind turbine installation business.
I waiting to see who the administrator sells the installation business to.
I would like to see it as a seperate company.
http://www.moneyam.com/InvestorsRoom/ShowPostList?fID=1&tID=2905
little woman
- 13 Apr 2004 17:04
- 21 of 24
Its one thing for directors not to have a clue with whats going on, but for auditors (PricewaterhouseCoopers) not to either !!!!!!! Especially for several years.
apple - 14 Apr 2004 10:31 - 22 of 24
auditors are just as gullable as anyone else & easily distracted from facts by waffle & business lunches with alchohol.
little woman
- 14 Apr 2004 10:44
- 23 of 24
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