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Traders Thread - Wednesday 17th December (MSY)
Crocodile - 16 Dec 2003 22:05
| Premarket Futures | FTSE +20 | DAX +25 | DOW -14 | S&P -1 | Nasdaq -1.5 |
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| UK/US charts have 1,2 or 5 day views. and now FT NEWS & Price link to UK, US & Asian markets. The Dax/CAC and Nikkei/Hang Seng are now switchable | |||
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US Stocks close at new near 19-month highs, while the Nasdaq closes barely higher British Airways is set to cut a further 5,000 office jobs to cut costs, the Times and the Telegraph newspapers reported Hanson building materials said trading had strengthened since the first six months of the year, and expected full-year pre-tax profits to be in line with current market forecasts. Conditions in North America, which makes up about half of its sales, had also improved, (Look for a rise in RMC & AGG) Chelsfield commercial property firm said its directors had rejected a consortium bid led by its chairman but were exploring the potential for a higher offer from the group. British Energy nuclear power generator said that fresh blows to its precarious financial situation would result in a weaker full year pretax result than it previously expected. |
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Hanson (Trading Statement) Misys (Trading Statement) 09.30 Nov Unemployment Rate, 3.0% exp. 09.30 Oct Average Earnings 3m y/y, 3.6% exp. 09.30 Bank Of England MPC Minutes |
Bear Stearns, Circuit City, FedEx, Lehman |
Bouygues, Elior, 11.00 Nov HICP m/m, y/y, 0.1%,2.0% prev. 11.00 Oct Industrial Production m/m, y/y, 1.9%,2.6% prev. |
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Ex Dividend: AWG Plc (14), Babcock International Group (1.25), Belhaven Group PLC (3.95), Blacks, Leisure Group Plc (2.6), Carlton Communications Plc (2), Carr's Milling Industries (7.5), Cropper (James) (1.9), Dawson Holdings Plc (4.3), Electrocomponents Plc (5.6), Ferraris Group Plc (3.6), Findel PLC (3.1), GET Group PLC (5.2), Gleeson (M.J.) Group Plc (28.25), Glenmorangie Plc (GMGA LN) (4.5), Glenmorangie Plc (GMGB LN) (2.25), Granada Plc (1), GWR Group Plc (2.3), International Greetings Plc (1.5), Investec PLC (28), iSOFT Group PLC (0.7), Meriden Group PLC (0.013), Mitchells & Butlers PLC (5.65), Next Fifteen Communications PLC (0.7), Northamber Plc (2), Numis Corp Plc (7.5), Punch Taverns PLC (4.4), Radstone Technology Plc (0.75), Ransom (William) & Son plc (0.5), Severn Trent PLC (17.77), Shanks Group Plc (1.9), Telford Homes PLC (1.5), Tex Holdings Plc (3.5), Total Systems Plc (1.05), Tribal Group Plc (1), United Utilities PLC (UU/ LN) (14.43), Universal, Salvage Plc (1.2) |
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ThePlayboy
- 17 Dec 2003 07:10
- 2 of 33
R2 4360
R1 4346
PP 5338
S1 4324
S2 4315
Ftse closed below Tue pp after gaining .4 in the auction, has also broken the higher lows uptrend of the past 2 trading sessions! Still in a downtrend on the 2 day chart targeting 4300, brk up through 40 to to R2!
Updated 12/16 for Wednesday's market.
Key DOW Levels for 12/17
UP Above 10,140
DN Below 10,100
Rally, At Resistance
Dow rallies off lows, ends day at resistance.
From prior commentary, "...look for the Dow to continue trending higher within the channel boundaries. An upside break through 10,100 will make for another wave higher within the channel's boundaries..."
The Dow moved sharply higher off yesterday's lows this morning, leading to what resulted in a 107 point advance, seen in the 15 and 60 Minute Charts. The index ended the day at the session highs, but was not able to rise above resistance at 10,140. This will be the key level to watch for tomorrow's market.
An upside break through the 10,140 resistance level will lead to news highs in the index. However, if the Dow cannot rise above this level, we will likely see another push lower within the month-long channel, seen in the 60 Minute Chart. A break below 10,100 will likely lead to such a move, down toward the lower boundary of the channel at around 10,000.
Short Term Dow
Short term, the Dow has formed a clear trend line beneath the lows of the late-day advance, seen in the 1 Minute Chart. Watch for continued upside movement above the line, unless a break of 1,0120 occurs. Such a break will lead to weakness at the Open.
Medium Term Dow
In the medium term, we entered the market Long today at 10,100 and are still in the position. We will continue to hold stops at the entry and will want to stay Long above 10,140. We will look to enter Shorts below 10,100, with 20 point stops.
NASDAQ & S&P
The NASDAQ showed weakness for half the session, but eventually pushed higher to the Close alongside the S&P and the Dow. The NASDAQ continues to trade within its wide range, while the S&P has formed a tighter range. Watch the boundaries for medium term direction. *
Summary
The Dow pushed steadily higher throughout the session today, taking a three-digit gain into the Close. The index is now holding at resistance at 10,140, which we will watch closely tomorrow. A break or bounce here will likely dictate tomorrow's direction.
Crocodile - 17 Dec 2003 07:32 - 3 of 33
Douggie - 17 Dec 2003 08:10 - 4 of 33
Melnibone - 17 Dec 2003 09:01 - 5 of 33
Not sure what's going on at the moment, everything
seems pretty much aimless. Perhaps it just is and
I'm looking for something that isn't there.
Anyway, took my profit on HBOS this morning, bought
them yesterday when they got knocked below 700p for
no real reason. Got very little left in the market now,
I could really do with a nice sell off to give some
opportunities to stock up again.
S@P doesn't seem to want to stay above the 1074/1075
level, so maybe we'll get one today.
I've got the FTSE bottom trendline and the 60 day EMA
both coming in at around 4310 at the moment, so I'll watch
with interest and an itchy trigger finger if we hit it.
Melnibone.
little woman
- 17 Dec 2003 09:38
- 6 of 33
nice to see LLOY doing so well this morning.
little woman
- 17 Dec 2003 09:55
- 7 of 33
Thanks
LW
Melnibone - 17 Dec 2003 10:02 - 8 of 33
With a bit of luck it'll follow
the DAX and CAC now and go negative.
Melnibone.
Melnibone - 17 Dec 2003 10:03 - 9 of 33
Melnibone.
little woman
- 17 Dec 2003 10:11
- 10 of 33
little woman
- 17 Dec 2003 10:34
- 11 of 33
little woman
- 17 Dec 2003 10:52
- 12 of 33
Spaceman
- 17 Dec 2003 10:54
- 13 of 33
little woman
- 17 Dec 2003 11:15
- 14 of 33
little woman
- 17 Dec 2003 11:16
- 15 of 33
Melnibone - 17 Dec 2003 12:12 - 16 of 33
it bounced off 269p again.
I'm going to get caught out on this one day when it
fakes a bounce and drops again, but until that happens
might as well keep taking the scalps. The Bears couldn't
manage to break these levels for more than 2 days back
in March when sentiment was the lowest it's been for over 3
years, so the odds are on my side in the current climate.
Melnibone.
Melnibone - 17 Dec 2003 12:19 - 17 of 33
Getting interested, but I think there's some US and
European banks waffling today and tomorrow so it would
probably be prudent to wait for what they say and the
market reaction before jumping in again.
These days, when good inline statements come out, the market
seems to take profit on the old 'buy on the rumour sell on
the fact' strategy, and there's an aweful lot of profit
washing around in financial shares since the rises from March.
Melnibone.
Melnibone - 17 Dec 2003 12:40 - 18 of 33
reaction was positive but muted.
Lehman Brothers gives an update next.
Melnibone.
little woman
- 17 Dec 2003 12:56
- 19 of 33
Melnibone - 17 Dec 2003 13:08 - 20 of 33
S@P has just bounced back of the 1074/1075 resistance area.
US Bulls have profit to take from yesterday's rises when the Bears
took theirs from the Monday drop from the open.
So, we've got the US at resistance, DAX and CAC down, and
the FTSE is up in the middle of the trend channel.
Unless the US breaks resistance there will be a sell off
this afternoon on the FTSE in my opinion.
The US will lead us by the nose as usual.
Melnibone.
Melnibone - 17 Dec 2003 13:12 - 21 of 33
Melnibone.
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