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Traders Thread - Friday 23rd April (SHEL)
Crocodile - 22 Apr 2004 21:57
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US indexes zoom on strong earnings McBride household goods maker said on Friday its trading performance and cash generation continued to be satisfactory. St. Modwen Properties said the year had started well and it expected to report a record 2004. Mobile phone companies may rise after a positive update from Ericsson WH Smith Australian private equity firm Pacific Equity Partners said on Friday it has agreed to buy the Asia-Pacific retail business for A$115 million ($84 million). |
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Shell Transport (AGM)08:30 March motor vehicle production 08:30 March retail sales 08:30 Q1 prelimiary GDP estimate |
Xerox, R.J. Reynolds Tobacco 13:30 Core PPI Mar 0.1% 13:30 Durable Orders Mar 0.7% 13:30 PPI Mar 0.3% |
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| David@SnappyTrader.com www .SnappyTrader.com | Pre Market Futures | FTSE +18 | DAX +12 | DOW +18 | S&P +2 | NAS +12 |
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Crocodile - 22 Apr 2004 22:15 - 2 of 21
jj50
- 22 Apr 2004 22:22
- 3 of 21
Good evening and thanks Croc!
ThePlayboy
- 23 Apr 2004 07:09
- 4 of 21
FRI FTSE PP
R2 4608
R1 4590
PP 4557
S1 4539
S2 4506
Dow to close above 10400 for cont strength,Ftse closed above R1 and gained .8 in the auction! Pos weakness on ftse sub 65!
R2 4608
R1 4590
PP 4557
S1 4539
S2 4506
Dow to close above 10400 for cont strength,Ftse closed above R1 and gained .8 in the auction! Pos weakness on ftse sub 65!
ThePlayboy
- 23 Apr 2004 07:09
- 5 of 21
Updated 4/22 for Friday's market.
Key DOW Levels for 4/23
UP Above 10,500
DN Below 10,450
Upside Break
Dow breaks consolidation to upside, rallies sharply to the Close.
From prior commentary, "...We could see the index push sideways within the consolidation boundaries before a true break occurs...an upside break through the top of the range could change the Dow's momentum. Watch 10,340, as an upside break here could spark a sharp recovery tomorrow..."
The Dow moved slowly lower within the consolidation boundaries early in the session before rallying off the lows en route to a solid upside break from the range, as seen in the 15 and 50 Minute Chart. The break at 10,340 sparked a solid rally, which lasted the entire session, adding 144 points to the Dow.
The Daily and 60 Minute Charts show that the index has reached the upper boundary of a bullish range, which has formed at the highs of the recent advance. The trading range has formed in a downward-sloping manner, which typically indicates that an upside break is likely. An upside break through the top of the range at 10,500 will likely fuel an even sharper advance in the medium term.
However, we could see further activity within the range before a break occurs. Look for a downside push through 10,450 to indicate that a downside reversal off the upper line could occur. Such a break will likely make for another wave lower within the range. Be aware that the Dow may consolidate at the highs as it digests the day's move. Such will likely be the case before another move either way is seen.
Short Term Dow
Short term, the Dow has formed a tight consolidation at the highs of the 5 Minute Chart from 10,450 to 10,500. An upside break is expected tomorrow morning, but a break either way should provide movement.
Medium Term Dow
In the medium term, we entered the market Long this morning at 10,340 and are still in the trade. We will move stops up to 10,450 for tomorrow's market and will hold Long above 10,500. We will look to enter Shorts below 10,450, using 20 point stops.
NASDAQ & S&P
The NASDAQ and S&P rallied sharply this morning, tacking on big gains to the Close. Each index is making a case for further upside movement due to bullish ranges that have formed. *
Summary
The Dow got the upside break from yesterday's consolidation this morning, which fueled a large gain in the index. The Dow is now holding just beneath the upper boundary of a wide, bullish trading range, which we will watch closely. A break or reversal off 10,500 should provide movement tomorrow.
Key DOW Levels for 4/23
UP Above 10,500
DN Below 10,450
Upside Break
Dow breaks consolidation to upside, rallies sharply to the Close.
From prior commentary, "...We could see the index push sideways within the consolidation boundaries before a true break occurs...an upside break through the top of the range could change the Dow's momentum. Watch 10,340, as an upside break here could spark a sharp recovery tomorrow..."
The Dow moved slowly lower within the consolidation boundaries early in the session before rallying off the lows en route to a solid upside break from the range, as seen in the 15 and 50 Minute Chart. The break at 10,340 sparked a solid rally, which lasted the entire session, adding 144 points to the Dow.
The Daily and 60 Minute Charts show that the index has reached the upper boundary of a bullish range, which has formed at the highs of the recent advance. The trading range has formed in a downward-sloping manner, which typically indicates that an upside break is likely. An upside break through the top of the range at 10,500 will likely fuel an even sharper advance in the medium term.
However, we could see further activity within the range before a break occurs. Look for a downside push through 10,450 to indicate that a downside reversal off the upper line could occur. Such a break will likely make for another wave lower within the range. Be aware that the Dow may consolidate at the highs as it digests the day's move. Such will likely be the case before another move either way is seen.
Short Term Dow
Short term, the Dow has formed a tight consolidation at the highs of the 5 Minute Chart from 10,450 to 10,500. An upside break is expected tomorrow morning, but a break either way should provide movement.
Medium Term Dow
In the medium term, we entered the market Long this morning at 10,340 and are still in the trade. We will move stops up to 10,450 for tomorrow's market and will hold Long above 10,500. We will look to enter Shorts below 10,450, using 20 point stops.
NASDAQ & S&P
The NASDAQ and S&P rallied sharply this morning, tacking on big gains to the Close. Each index is making a case for further upside movement due to bullish ranges that have formed. *
Summary
The Dow got the upside break from yesterday's consolidation this morning, which fueled a large gain in the index. The Dow is now holding just beneath the upper boundary of a wide, bullish trading range, which we will watch closely. A break or reversal off 10,500 should provide movement tomorrow.
little woman
- 23 Apr 2004 09:10
- 6 of 21
Morning all
roma - 23 Apr 2004 09:15 - 7 of 21
Morning all
Fundamentalist
- 23 Apr 2004 09:48
- 8 of 21
Mornin all
sunny day in manchester and a sunny day for RTD and its friday.
thanks as ever croc/pb
sunny day in manchester and a sunny day for RTD and its friday.
thanks as ever croc/pb
Melnibone - 23 Apr 2004 10:32 - 9 of 21
|
X |
5300
X
O
X
O
5200
X
O
X
O
5100
O
O
5000
O
O
4900
O
O
4800
O
O
4700
O
O
X
X
4600
O
X
O
X
X
O
X
O
X
X
O
X
4500
O
X
O
X
O
X
O
X
O
O
X
X
O
X
O
X
4400
O
X
O
X
O
O
X
O
X
O
X
X
O
4300
O
X
X
O
X
O
X
O
X
O
X
X
O
X
X
X
O
X
4200
O
X
O
X
O
X
O
X
O
X
X
X
O
X
O
X
O
X
O
X
O
X
O
X
O
X
O
X
O
X
O
X
O
4100
O
X
O
X
O
X
O
O
X
O
X
O
X
O
X
O
O
X
O
O
X
O
X
O
X
X
O
4000
O
X
O
X
O
O
X
O
X
O
X
O
X
X
X
O
X
O
X
3900
O
X
O
X
O
X
O
X
O
O
X
X
O
O
X
O
X
O
X
O
X
O
X
3800
O
X
O
O
O
X
O
X
O
O
X
X
O
X
3700
O
X
O
X
O
O
X
O
X
3600
O
X
O
X
Melnibone - 23 Apr 2004 10:34 - 10 of 21
Morning all,
If you look further back there is nothing in the way of resistance
from these levels all the way back to when the FTSE was at 5000/5200.
Big move coming, IMHO, but which direction?
We are at the top of the range, now, just the same as when we dropped
from 5000/5200.
Melnibone.
If you look further back there is nothing in the way of resistance
from these levels all the way back to when the FTSE was at 5000/5200.
Big move coming, IMHO, but which direction?
We are at the top of the range, now, just the same as when we dropped
from 5000/5200.
Melnibone.
Melnibone - 23 Apr 2004 10:41 - 11 of 21
Sorry about the layout of that last post. Not quite got the hang
of Croc's HTML editor yet. The post was too big and I had to split
it in two with the above result.
Never mind, practice makes perfect. ;-)
Melnibone.
of Croc's HTML editor yet. The post was too big and I had to split
it in two with the above result.
Never mind, practice makes perfect. ;-)
Melnibone.
Melnibone - 23 Apr 2004 10:42 - 12 of 21
It's done it again. ????????
And I didn't use the HTML editor that time.?????
Completely non-plussed.
Melnibone.
And I didn't use the HTML editor that time.?????
Completely non-plussed.
Melnibone.
Diego - 23 Apr 2004 12:18 - 13 of 21
Melnibone -
If you look at the high around 5200 and the lowest low we had last year (3200 ?) the 4550/55 level represents the 62.8% Fib level. What is more intriguing is that comparing those halycon days, around the year 2000, when the FTSE was struggling with 7000 with the more recent times (end 2002) when the FTSE was around 3200, the 4550/55 level represents the 38.2% Fib level.
Coincident Fib levels at different time frames represent potent levels.
Diego
If you look at the high around 5200 and the lowest low we had last year (3200 ?) the 4550/55 level represents the 62.8% Fib level. What is more intriguing is that comparing those halycon days, around the year 2000, when the FTSE was struggling with 7000 with the more recent times (end 2002) when the FTSE was around 3200, the 4550/55 level represents the 38.2% Fib level.
Coincident Fib levels at different time frames represent potent levels.
Diego
little woman
- 23 Apr 2004 13:29
- 14 of 21
Got my E-trade account up and running
Small short PSN
Small short PSN
little woman
- 23 Apr 2004 14:13
- 15 of 21
The DYS I added to my long term portfolio 2 days ago is still going up
Melnibone - 23 Apr 2004 15:02 - 16 of 21
Thanks for that info Diego. I've never looked much at
Fib levels, so your comments are welcome.
If folk look at Fib levels then I should really pay
more attention. I'll have a look round the Web and see
what I can come up with.
We're now basically back to where we were on Tuesday evening
in pre-Greenspan mode, in the US and the UK. So I would be surprised
if the market galloped higher this close to the weekend.
If anything, seeing as the trading Bears have taken the Greenspan
effect windfall profits, then maybe a small drop is in order for the
trading Bulls, that chased them back up, to trouser some of their
profits for the weekend.
I won't be taking any risks on a Friday at a critical point such
as this, and I doubt that I'm much different to anyone else.
Hope this post comes out normal and doesn't look like Nelson's
Column like my previous ones.
If it does, I'll just blame Croc. :-))))
Melnibone.
Fib levels, so your comments are welcome.
If folk look at Fib levels then I should really pay
more attention. I'll have a look round the Web and see
what I can come up with.
We're now basically back to where we were on Tuesday evening
in pre-Greenspan mode, in the US and the UK. So I would be surprised
if the market galloped higher this close to the weekend.
If anything, seeing as the trading Bears have taken the Greenspan
effect windfall profits, then maybe a small drop is in order for the
trading Bulls, that chased them back up, to trouser some of their
profits for the weekend.
I won't be taking any risks on a Friday at a critical point such
as this, and I doubt that I'm much different to anyone else.
Hope this post comes out normal and doesn't look like Nelson's
Column like my previous ones.
If it does, I'll just blame Croc. :-))))
Melnibone.
stockbunny
- 23 Apr 2004 15:44
- 17 of 21
Another expert on TV today saying they wouldn't be in
equities now but would still be in cash. OK at this point
some prices are high so possibly not the time to buy in,
but if you are already holding that is surely a different
matter! I wonder if the experts having got it wrong before
are now crying wolf sooner than needs be, so they don't get
caught out again!!
equities now but would still be in cash. OK at this point
some prices are high so possibly not the time to buy in,
but if you are already holding that is surely a different
matter! I wonder if the experts having got it wrong before
are now crying wolf sooner than needs be, so they don't get
caught out again!!
Melnibone - 23 Apr 2004 16:15 - 18 of 21
Don't listen to experts stockbunny.
They've no more got a time machine than the rest of us,
and depending upon whom they work for they usually have
an ulterior motive that will benefit their employers.
They all use standard phrases and intelligent sounding
waffle. I bet I could go on TV and waffle along with the
best of 'em.
If I put on a suit and a pair of studious looking glasses
I bet I could even make you believe that I knew what I was
talking about. Especially if I smiled at the right points
in an avuncular 'trust me' kind of manner :-)
Melnibone.
They've no more got a time machine than the rest of us,
and depending upon whom they work for they usually have
an ulterior motive that will benefit their employers.
They all use standard phrases and intelligent sounding
waffle. I bet I could go on TV and waffle along with the
best of 'em.
If I put on a suit and a pair of studious looking glasses
I bet I could even make you believe that I knew what I was
talking about. Especially if I smiled at the right points
in an avuncular 'trust me' kind of manner :-)
Melnibone.
little woman
- 23 Apr 2004 16:27
- 19 of 21
I just finished reading the book on Barlow Clowes - did you know he was an expert in Govt securities, and for over 10 years, went on TV and did talks, explaining how he was so good at it using other peoples money to guareentee amazing returns!
zarif
- 23 Apr 2004 16:31
- 20 of 21
afternoon guys and gals:
Cool writings today for people of narrow vision( nelsons column).
just jesting -whats happened to the margin size i wonder.
rgds
zarif
Cool writings today for people of narrow vision( nelsons column).
just jesting -whats happened to the margin size i wonder.
rgds
zarif
snoball
- 24 Apr 2004 09:54
- 21 of 21
I think you forgot to end your html table, Melnibone. I've put it in here to see if it sorts it out.
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