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Traders Thread & Thoughts - Monday 16th February (MNU)
Crocodile - 15 Feb 2004 12:09
| UK PreMarket Futures | FTSE -2 | DAX -10 | DOW Closed | S&P Closed | Nasdaq Closed |
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Vodafone, AT&T Wireless is reported to have asked rival bidders Vodafone and Cingular to sweeten offers worth about $35 billion sources familiar with talks sayCanary Wharf, Morgan Stanley may increase its bid to 293p St Modwen property firm reported a 17% rise in annual profits and said the current financial year had started well. Annual profits came in at 35 million pounds from 30 million a year earlier within analysts expectations and the dividend is increased 16 percent to 6.6 pence. Anglo Platinum profits fall 64% Exel storage and logistics firm says it has reached an agreement to buy the logistics unit of Japanese electronics conglomerate Fujitsu to triple the size of its Japanese operations. Compass Group the world's biggest catering firm, said it was on course to hit its annual targets with turnover up at least six percent this year and to improve like-for-like margins by 20-30 basis points |
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SMP St Modwen Properties (F), eq group, Stream ITNET, Anglo Platinum, Hercules Property Services, |
U.S. markets closed for Presidents Day. |
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Melnibone - 15 Feb 2004 14:23 - 6 of 15
I don't think that you can call market direction at the moment
with any degree of conviction. There's too much going on with
Dollar exchange rate, Presidents week, US election year, new
US highs, falling FTSE etc.. etc..
It's just a general melee with nobody really knowing what's
going on.
I'll be looking at it very simply this week and may branch out
into Eurostoxx50/Dax/Cac and just follow market direction leaving
any preconceived ideas on the back burner.
I've tried to look at the basic levels over the last week and have
come up with some simple range trade levels. Top, Bottom and a pivot.
Possible breakout above or below the ranges.
Stoxx50: 2905 2875 2845
Dax: 4150 4090 4030
Cac: 3697 3667 3637
Ftse: 4422 4381 4338
Melnibone.
stockbunny
- 15 Feb 2004 14:24
- 7 of 15
Looking forward to results from RTR early in the week.
Could be a lifting week for banking shares generally with several 'big guns'
reporting - here's hoping!!
MLC later in the week may be uplifting...there's always hope! Sooner
or later the holiday/hotel sector has to start some real recovery!
Don't be away for too long LW - we'll miss you!
ThePlayboy
- 15 Feb 2004 14:30
- 8 of 15
R2 4451
R1 4431
PP 4405
S1 4385
S2 4358
Ftse closed above R1 and gained 4.9 in the auction, a sign for Monday? US closed so no doubt they will put it where they want CAUTION! 2 day ftse chart targeting r1 unless we brk 4400 to tgt 4385 Fri gap up area! All down to the dow to hold 10620 tonight
WEEKLY FTSE PP
R2 4473
R1 4442
PP 4406
S1 4376
S2 4340
For next week I can see a pos test of 10500 on the dow if 620 goes, bearish ftse unless close above 4420, even then can only see 4450 as a tgt, weakness on dow will lead to 4360/70 being tested imho!
ThePlayboy
- 15 Feb 2004 14:32
- 9 of 15
Key DOW Levels for 2/17
UP Above 10,660
DN Below 10,600
Follow-Through
Dow follows through, ends near session lows.
From prior commentary, "...Look for a continuation pattern to continue to develop tomorrow. Such a pattern will indicate continued strength. Otherwise, a break below 10,650 will likely make for an even steeper decline..."
The Dow held above the key 10,700 early in the session, but was not able to sustain the strength for long. The index broke below 10,700, sparking a day-long decline to the Close, making for a 66 point loss for the session, as seen in the 15 and 60 Minute Chart.
Looking at the Daily Chart shows the index is beginning to move back down within the wide, sloping trading range that has formed at the highs of the major uptrend. Should the index break below 10,600 tomorrow, look for a continuation toward the lower boundary of the range at around 10,500.
Otherwise, an upside break though 10,660 could fuel another push toward resistance.
Short Term Dow
Short term, the Dow has formed a tight, triangle consolidation at the lows of the 5 Minute Chart, which implies weakness tomorrow morning. Watch 10,620 down, and 10,640 up tomorrow morning for short term direction.
Medium Term Dow
In the medium term, we covered Shorts this morning at 10,720 for a 20 point loss. We then entered the market Long at 10,725, but the trade also stopped out. A Short entry was also entered at 10,625, but the trade also faltered.
We are now out of the market and will watch 10,600 down, and 10,660 up, with 20 point stops.
NASDAQ & S&P
The NASDAQ and S&P traded lower today, breaking key lower trend lines in the process. Look for signs of a continuation lower Tuesday. *
Summary
The Dow was not able to hold above 10,700 today, as the index broke through this level and traded lower for the day. The index will likely trade sideways at the lows before another move is seen. A break below 10,600 will spark a
continuation.
Melnibone - 15 Feb 2004 14:38 - 10 of 15
As posted last few weeks, I'm still looking for a test of
the 4330 area to try and see if we hold there or go all the
way back to the 4180/4200 area.
Just going to follow it, which ever way it goes.
Melnibone.
kantona - 15 Feb 2004 15:51 - 11 of 15
Crocodile - 15 Feb 2004 18:26 - 12 of 15
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Provisional Calendar For UK Equities The Week Following 23rd Feb - 1st March |
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Anglo and Overseas Trust (F), Bunzl (F), Hemscott (F), Jardine Lloyd (F), National Express (F), Old Mutual (F), Pharmagene (F), Provalis (F), Scottish and Newcastle (F), SDL International (F), Stadium Group (F), Ultra Electronics (F), Wembley (F), Provalis (I), Reed Health (I), Ricardo Group (I), Electra Kingsway (AGM), Phytopharm (AGM), Raft International (AGM), Treatt (AGM), Gladstone (EGM)
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Abbey National (F), Alliance UniChem (F), Amersham (F), Cookson (F), Croda (F), Dairy Farm International Holdings (F), Domino's Pizza (F), Kerry Group'a' (F), Molins (F), Prudential (F), Thorntons (F), Wembley (F), Wimpey (F), Xenova (F), Xstrata (F), Surface Transforms (I), Thorntons, Brewin Dolphin (AGM), Tadpole Technology (AGM), Berkeley Group (EGM) |
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Anglo American (F), Aviva (F), BBA Group (F), Domnick Hunter (F), Hardy Underwriting (F), HBOS (F), Isotron (F), Michael Page (F), Morse Holdings (F), Novar (F), Paddy Power (F), RAC (F), Reed Health (F), Spirent (F), TDG (F), Urbium (F), Wilson Bowden (F), Dickinson Legg (I), Isotron (I), Reed Health, Aukett Group (AGM), Capcon Holdings (AGM), Leeds Group (AGM), Aukett Group (EGM), OMG (EGM) |
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CBAE Systems (F), Belgravium Technologies (F), Capita Group (F), CryptoLogic Inc Com Shs NPV (F), Elementis (F), Estates and General (F), Hilton Group (F), MFI Furniture Group (F), National Express (F), Provident Financial (F), Rentokil Initial (F), Trinity Mirror (F), United Business Media (F), Domestic and General (I), Galliford Try (I), Ultimate Leisure Group (I), Wilmington Group (I), Cobra Bio-Manufacturing (AGM), M&G Income (AGM), |
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BInternational Power (F), Rank Group (F), WPP (F), Games Workshop (I), Vernalis (I), Newsplayer (EGM) |
Douggie - 16 Feb 2004 09:21 - 13 of 15
Crocodile - 16 Feb 2004 14:45 - 14 of 15
Very Nice 3 Day Intraday on the FTSE
Kinetickev - 17 Feb 2004 23:46 - 15 of 15
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