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Traders Thread - Friday August 1st (LLOY)
Crocodile - 31 Jul 2003 23:44
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S&P &Futures (Click for latest)
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Pre Market Futures (7:30) | |
| FTSE | -19 | ||
| TechMark | -3 | ||
| DAX | -32 | ||
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Hang Seng +114
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Nikkei +31
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DOW | +25 |
| S&P | +2 | ||
| Nasdaq | +1.9 | ||
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News Headlines: US stocks rose Thursday, but closed well off their highs with some profit taking and caution ahead of Friday's important unemployment figures Friday afternoon. Lloyds: Results ahead of market expectations with a profit increase of 4%. Standard Life British mutual insurer announced a 25% fall in sales to 691 million pounds as weak stocks and interest rates hit consumer confidence in savings products Total pension sales fell 30 percent to 334 million pounds. MyTravel Warning: It had reached an agreement in principle to extend 221.6 million pounds of convertible bonds, but added second-half profits would be weaker than expected. Cash flow problems and still significant risk to the company. The firm said it now expected operating profits would be flat in its second half as a result of lower than expected margins and tough trading in Scandinavia and North America.Arriva: The Strategic Rail Authority, Britain's rail regulator, said it had been selected as the preferred bidder for the new Wales & Borders railway operating franchise. Amvescap report at noon today. Rio Tinto shares rise despite forecast profit cuts. Australian shares defied a weak profit result and analyst earnings downgrades of approx 5% to rally on Friday,Centrica said on Friday it had sold its stake in the struggling Goldfish credit card business to UK bank Lloyds for a premium of 112.5 million pounds Corus Group news of a new 1.2 bln eur bank facility and said it expects to report a 100 mln stg improvement in its first half operating result before exceptionals compared with the 141 mln loss seen in the second half of last year but it said market conditions are still tough.
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Druid2
- 01 Aug 2003 08:33
- 6 of 17
Congratulations to little woman for being second in the July FTSE competition. I managed to be 19 of 19 as my expected "waterfall" drop did not materialise. Well perhaps in August !!??
little woman
- 01 Aug 2003 10:33
- 7 of 17
Thanks Druid2, I must admit I was pleased (I always prefered comming second, as I didn't like to gloat, but is nice to be up there with the winners!)
I must admit I also think the market is due for a fall - the news comming out is generally nothing special. Quite a lot of dealers close thier positions early august before they go away on holiday for a month - or they should if they have any sense! (That why some didn't get caught out by the really big fall after the storms years ago!)
little woman
- 01 Aug 2003 10:36
- 8 of 17
I haven't checked what the market reaction has been yet - but good news and the prie seems to drop - bad news and it goes up!
little woman
- 01 Aug 2003 10:46
- 9 of 17
ThePlayboy
- 01 Aug 2003 10:48
- 10 of 17
For Friday, initial support near 898(SURELY HE MUST MEAN (988/89) may hold, however, additional downside is favored to occur to break below this level and at least test 982 support. A move below 982 support confirms downside C wave likely in progress to possibly test 962 support. Resistance above is near 1004.50 is not expected to be met on any upside that develops.
Crocodile - 01 Aug 2003 10:51 - 11 of 17
Juzzle
- 01 Aug 2003 11:20
- 12 of 17
Druid2
- 01 Aug 2003 16:43
- 13 of 17
ThePlayboy
- 01 Aug 2003 16:47
- 14 of 17
r2 4177.6
r1 4138
pp 4177 (recent fib level)
s1 4077.7
s2 4057
lost 8.2 pts in the auction to close below Fridays S1 level, also closed below the previous strong Fib level of 4117, new FIB range therefore 4085/4117! DJ at our close was just above s1, needs to hold 9150.
WEEKLY FTSE PP
R2 4212
R1 4155.3
PP 4126
S1 4069
S2 4039.7
Close below weekly pp not bullish, high of this week was Monday and low of the week was on Friday!
Have a good weekend all!
fredbear
- 01 Aug 2003 19:50
- 15 of 17
ive been holding my spx shorts for a while now.. still looking v ripe for a decent fall over the next few months imho..
GL with it.
cheers
fred
Druid2
- 01 Aug 2003 20:39
- 16 of 17
fredbear
- 02 Aug 2003 10:49
- 17 of 17
http://www.streetsmartreport.com/decisionpointarticle.html
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