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Traders Thread - Tuesday 11th November (EMA)
Crocodile - 10 Nov 2003 22:19
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Despite positive news in the tech sector U.S. stock markets sank lower on profit taking with the Nasdaq down 29.10, Dow Jones, down 53.26 and the S&P 500 down 6.10. Canary Wharf, No guaranteed bid. Kingfisher said its sales growth slowed in the third quarter, as it had anticipated due to very hot summer weather but tight control of stocks and costs reduced the impact on profits. Third quarter sales grew 3.6 percent compared with 5.5 percent growth in the first half. Emap publishing and radio said it should meet full-year goals even though it expected no material change in trading conditions during its second half. They posted a nine percent rise in profit to 94 million pounds in the six months to end-September, on turnover up seven percent to 509 million pounds. International Power reported nine months earnings at the bottom of analysts' forecasts and warned that tough conditions in the U.S would send profits down further in 2004. Earnings per share for the nine months fell to 7.2 pence from 12.8 a year ago. Analysts had forecast 7.8 pence and the company said things were so bad in the U.S that it may have to mothball some capacity. BAA airports operator reported a four percent rise in October passenger traffic from a year ago, its strongest performance since the Iraq war this year. The lucrative north Atlantic sector recording its first monthly gain since February. Xansa computer services said it expected turnover to be down in the second half although in line with its expectations amid challenging market conditions. Northern Foods reported a 16 percent fall in half-year profits. After three profit warnings in the last two years the group said it aims to stabilise second-half profits at last year's level. The company, which makes own-label ready meals for Marks & Spencer reported 6 month profits of 32.5 million pounds at the top of analysts forecast range of 29.5-32.5 million pounds. Reckitt Benckiser report later |
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Dicom Group (I), nCipher (I), Comino (I), EMAP (I) 92m Intechnology (I), International Power (I) Northern Foods (I), Oxford Instruments (I) VT Group (I), Galen Holdings (F), Reckitt Benckiser (Q2)Dicom Group (AGM), ICM Computer (AGM) Smiths Group (AGM), Kingfisher (Update) P&O Trading statementCBI regional trends survey |
JC Penney Q3 12:45 BTM retail chain index |
Bayer D Q3, Beiersdorf D Q3 Banca Intesa I Q3, Celesio D Q3 Mediaset I Q3, T-Online D Q3 Wedeco D Q3 |
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Melnibone - 11 Nov 2003 16:28 - 41 of 45
bounce. I'd be locked into them now with the stock opening
up ex-divi tomorrow.
That's me done for the day.
Melnibone
little woman
- 11 Nov 2003 16:34
- 42 of 45
Off now......
zarif
- 11 Nov 2003 17:26
- 43 of 45
Just closed the second short at 9737 opened at 9757 =20pts at 25/pt = 500 smackeroons tax free -gordon brown put that in your pipe and smoke it.
Creamed the dow so far for 1100.
just watching now -greed factor to see what it rises to and then short some more.
Guys take the door off its hinges to let me out.
rgds
zarif
Druid2
- 11 Nov 2003 18:12
- 44 of 45
If there is anyone on this thread interested or following Easyjet (EZJ) I would like to hear views. I have started to build a small LONG position (with stops) and hope to hold on until the 500p target price is reached.
Melnibone - 11 Nov 2003 19:57 - 45 of 45
Not sure how long you'll have to wait for 500p looking
at that chart. If you want an LTBH position then I think
that you are right to build into it.
I think you will get it cheaper.
I wouldn't touch an airline stock at the moment.
Terror alerts are again rearing their ugly head and
aircraft are being mentioned as specific threats.
Doesn't matter if it's cargo aircraft, it will knock
the travel industry.
Summer period is over, there's loads of competition,
and the old national encumbent airlines are getting
their costs and strategy in place to compete.
Not saying it won't go to 500p, eventually, but I suspect
that it will be later rather than sooner, and that the
financial geared plays on any upturn in the market will
react quicker and from a lower base if Croc's chart
has its dastardly way. :-)
Melnibone
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