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Traders Thread - Tuesday 13th January (TSCO)
Crocodile - 12 Jan 2004 21:37
| Premarket Futures | FTSE +15 | DAX +10 | DOW -16 | S&P -1.3 | Nasdaq -0.5 |
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| London Traders Day 29th January - Traders Room Investors Room | |||
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US stocks bounce back after Friday's sell off ahead of a raft of earnings reports. Lloyds TSB Finance director to leave immediately Tesco said it was going to sell shares raise about 810 million pounds for expansion?? (Safeway stores) after announcing accelerating UK sales growth which was stronger than expected. Tesco said UK like-for-like sales rose 7.5 percent in the seven weeks to January 3. Group sales were up 16.7 percent after international sales climbed 22 percent. BAA reported a 6.2 percent rise in December passenger traffic from the same month in 2002 and said it airports had their busiest ever Christmas period. They had a record number of passengers in calendar 2003, up 3.6 percent to 131.1 million Burberry posted a 15 percent rise in third-quarter underlying sales and was upbeat about its prospects, with a healthy wholesale order book and good response to spring/summer ranges Aviva the UK's biggest insurer said it would cut 2004 bonus payments on maturing with-profits policies but would maintain bonus rates on more recent policies at 2003 levels. SABMiller The London-based world's second-largest brewer said it had seen strong volume growth across most of its operations, with Beer South Africa growing by almost three percent. New Look clothes retailer said like-for-like sales during the Christmas period fell 3.1 percent, but did not update the market on a potential offer by founder Tom Singh. Rolls-Royce said it had won a $107 million contract to supply Trent compression packages to Dolphin Energy Limited as part of a $3.5 billion gas project in the Middle East. AstraZeneca said the U.S. regulators had approved schizophrenia medicine Seroquel as a treatment for manic depressive illness. Yates Group bar operator said it had a satisfactory Christmas and New Year trading period, with group like-for-like sales up 0.2% Computacenter computer services provider said it expected its pre-tax profit for 2003 to be in line with its expectations "Trading was slightly weaker in the third quarter, but this was compensated for by a strengthening in the fourth quarter," |
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Domino Printing (F), Parkdean Holidays (F), Vernalis (I) Tesco Trading Update, New Look Trading Update BAA Traffic Figures, Burberry Trading Update, Granada (AGM), Wiggins plc (Planestation) Open offer Ex Date. Terms are 1 warrant for every five shares. Warrant entitles holder to 1 new share at 10pComputercentre Pre-Close Statement 09.30 Nov Industrial Production m/m 0.3% exp. 09.30 Nov Manufacturing Production m/m 0.3% exp. 13.30 Dec NIESR GDP Estimate |
Accenture (Q1), Plantronics (Q3) 13.30 Dec Import Price Index m/m 0.4% exp. |
07.00 Dec German Wholesale Price Index m/m 0.1% exp. |
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little woman
- 13 Jan 2004 08:53
- 8 of 25
Melnibone - 13 Jan 2004 09:08 - 9 of 25
nice little close on the US yesterday.
4450 is still important to the FTSE.
Still short-term long GSK and SHEL and looking for some scalps in
other stocks today.
I see that my CMC MarketMaker has frozen again. This always
happens during the week after they upgrade the system. :-(
Melnibone
Melnibone - 13 Jan 2004 09:18 - 10 of 25
Early days yet, but it looks like my GSK's might be
finally on the turn. Already the high is higher than
Friday and Monday.
Not going to get exited yet though, we still need the S@P
and the FTSE to turn around and start moving up again.
FTSE really needs to break and close above the round figure
4500.
Melnibone.
Druid2
- 13 Jan 2004 09:40
- 11 of 25
Melnibone - 13 Jan 2004 09:59 - 12 of 25
Just goes to show that you should always trust your own instincts.
I wouldn't touch an airline in the current climate, nothing to do
with the companies just the noise and sentiment, and look what
I've missed out on in BAY and EZJ.
Well done for sticking to your guns.
Melnibone.
Melnibone - 13 Jan 2004 10:40 - 13 of 25
He is expecting a huge up day on the US markets.
Melnibone.
stockbunny
- 13 Jan 2004 15:05
- 14 of 25
on the FTSE tomorrow!! Off to watch the magical streaming now.....
Melnibone - 13 Jan 2004 15:14 - 15 of 25
One possibility today is that the market stays quiet
until Greenspan speaks at 1600 Hrs (UK time), and then
takes off after the UK close.
Not a lot happening at the moment.
Melnibone.
ThePlayboy
- 13 Jan 2004 15:23
- 16 of 25
Melnibone - 13 Jan 2004 15:36 - 17 of 25
What's particularly galling is that I could have
taken profits on my longs and bought back again cheaper.
The time I do that though, you can bet your wedge that
they will take off and not come back.
Just need to do what we always do, back your own view
until proved wrong, keep your discipline and stop out to
protect your money if they are hit.
Melnibone.
ThePlayboy
- 13 Jan 2004 15:39
- 18 of 25
Melnibone - 13 Jan 2004 15:43 - 19 of 25
2550p finally hit on AZN as predicted. Guess my De Lorean is working.;-)
Now formed an iffy Head and Shoulders.
Any takers for H@S shorts, or longs for a bounce off support?
Melnibone.
little woman
- 13 Jan 2004 15:56
- 20 of 25
Melnibone - 13 Jan 2004 15:58 - 21 of 25
HSBA down to support, might be a good one to watch if the
market starts to revert to the up trend again.
HBOS did this recently and took off without me. All I got
was a measly scalp.
Melnibone.
Druid2
- 13 Jan 2004 16:13
- 22 of 25
Melnibone - 13 Jan 2004 16:43 - 23 of 25
nigh on flat.
A close below 2550 (2542), isn't good news for AZN. So having
learned the lesson on GSK of not to think that I know better
than the market, I was right not to buy yet.
Should have backed my judgement and shorted it really, but one of the
best lessons I ever learned was not to fight a trend, and though
we get these retracements the trend for the FTSE is still up.
I know it doesn't seem like it at the moment, but it is.
Some Bears will be in short positions against the trend. If the market
reverts back up then the resultant Bear squeeze will just push it
higher and quicker. If you are caught wrong against the trend then
it is very difficult for your position to come back to you and the
odds increase on you stopping out.
Those that don't stop out go bust. Read the tales on any forum you like.
(as long as they are honest.)
Melnibone.
Melnibone - 13 Jan 2004 19:43 - 24 of 25
If the US doesn't recover before the close then I can see
the FTSE finally testing 4400 tomorrow morning.
There will be plenty of twitchy stops set below this level.
If it happens this will make the retracement back to where
the Christmas rally took off and left folk behind that broke
up for the two week festive binge.
If you recall back to when 4200 was the big level, seems years
ago doesn't it :-), then the index dropped to circa 4180 and
then took off like a scalded cat as those who missed it the
first time around breathed a sigh of relief and climbed aboard.
If, and it is only if, this happens at 4400, then I'm looking
at circa 4360/4380 for a rapid reversal back to the bull trend.
If it breaks through that then it's 4200 for the next stop.
I'm afraid my De Lorean has got a flat battery and I am unable
to visit the future. ;-)
Just be aware of the levels, don't try and second guess the market,
and use stops religeously.
Melnibone.
Melnibone - 13 Jan 2004 20:13 - 25 of 25
With ref to the last post, here's the current position of my old
favourite 60 Day EMA.
You can see that it's coming in around 4380 which would tie in
with the first drop through 4200 back in August. It was only
on the second failed test of 4200 in September that we got
the big 200 point drop.
As you can see, the overall trend is still supported by the
60 Day EMA.
How long it will remain so, I don't know. But until it's broken
and we start getting lower highs and lower lows that take us back down
below my P@F 4150, then I'm not fighting it.
Melnibone.
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