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Traders Thread - Friday 5th September (RMC)     

Crocodile - 04 Sep 2003 22:35

draw?period=1D&action=draw&startDate=10% draw?period=1D&action=draw&startDate=10%

Gold

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fpDJIA.gqplus?511 marketwatch-ss.img?symb=SP500 fpNASDAQ.gqplus?183

marketwatch-ss.img?symb=DAX

S&P &Futures (Click for latest)

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Pre Market Futures (7:30)
FTSE +10
TechMark +4
DAX +12

Hang Seng +-

Chart

Nikkei +-

Chart

DOW -9
S&P -0.1
Nasdaq +2.5

 

News Headlines:   Wall Street marked another up session thanks to further gains in the technology sector keep most of the broader market afloat.

UK shares should open up slightly higher within striking distance of year highs on hopes of further evidence of U.S. economic recovery from key employment data due at 1230 GMT followed by non farm payroll at 13:30 GMTAnglo American South Africa gave the green light late for them to acquire nearly 35 percent in the country's biggest iron-ore producer, Kumba Resources worth about 4 billion rand Vodafones J-Phone in Japan said net user growth fell 53 percent in August from a year earlier to 50,200. That was the lowest level since the current company structure was formed through a merger of regional firms in November, 2001.Reuters, shares in its US Instinet Group which runs an electronic share trading network, as it reported an increase in trading volume in July from a year earlier and amid speculation the company might be the subject of a takeover.BP, SHELL crude futures extend losses pressured by fund selling following data that showed a build in U.S. fuel stocks.BT said it would change the pricing of its wholesale high-speed Internet services for the second time this year, following complaints from rivals

JD Wetherspoon reported a five percent rise in annual profits on Friday and said August like-for-like sales growth slowed to 3.5 percent after 4.1 percent in the year. They reported profits of 56.1 million pounds for the year compared to analyst forecasts of 54-57 million pounds..

EasyJet said it carried almost two million passengers in August up 17 percent from the same month in 2002. Its load factor was 88.1 percent up from 87.2 percent the year before.

Rank said that tough trading at its Hard Rock cafes and film and video business outweighed strength at its casinos, and added current trading was following a similar pattern. Profit fell nine percent to 77.4 million pounds with the consensus forecast among analysts of 78 million.

RMC the world's largest producer of ready-mixed concrete posted lower first-half profits, as expected, on Friday amid continued sluggish demand at its German business. 6 month profits of 50.7 million pounds down from 80.6 million pounds.

Calendar

All GMT

ukf.gifUnited Kingdom (F)inals (I)nterim usf.gifUnited States (Click Flag) euro.gifEurope & World

Friday

Rank Group (I) PBT 77.1m exp. RMC Group (I) PBT 7.4m exp. Aga Foodservice (I), Go-Ahead Group (F), Highway Insurance Holdings (I),

JD Wetherspoon (F), Marshalls (I), Swan Hill Group (I)

EasyJet Aug Traffic Figures

13.30 Aug Non-Farm Payrolls 15k exp.

Average Workweek, Hourly Earnings Aug Unemployment Rate Aug

11.00 July German Preliminary Industrial

         Production m/m 0.8% exp.

Good Trading!   David@FTSEDOW.com    www.FTSEDOW.com

Bloomberg TV          

Pivot Calculator

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Crocodile - 05 Sep 2003 10:14 - 9 of 14

Went short on Rank this morning after less than inspiring results but the price is still hoding. Was hoping for a 5% + drop here.

jph321 welcome!
Have a look at my site www.ftsedow.com for lots of information on Level2

jph321 - 05 Sep 2003 10:21 - 10 of 14

thanks will have a look
what does going long or short mean.

IanT(MoneyAM) - 05 Sep 2003 10:28 - 11 of 14

jph321,

If you go long on a stock you are looking for it to rise - if you go short, you are looking for it to fall.

Regards

Ian

jph321 - 05 Sep 2003 10:43 - 12 of 14

thanks for reply but why would you want stock to fall.
(or is going short just another way of saying you have sold the stock and maybe buy back if price drops).

IanT(MoneyAM) - 05 Sep 2003 10:49 - 13 of 14

jph,

you would short a stock if you had taken a position where you stand to gain from it falling.

The simplest way of explaining this is if you spread bet you can long or short a stock or indice - you wold take a position of say 1 per point and if you were short you would want it to fall - for every point outside the margin it moves down you would make a pound.

Hope this make sense, but if you need any more advice, please feel free to mail me ian@moneyam.com

Regards

Ian

little woman - 05 Sep 2003 17:31 - 14 of 14

First chance to log in - to find it all pretty quiet!

Hi jph, welcome to the traders thread in the investors room....

You've not updated your user settings (top right) so I don't know what part of the UK (or the world for that matter) you hang out in.

You should try and take part in/go to one of the traders meetings if you can as you pick up so much info - (a lot of things are explained) or you can ask specific questions!

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