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Traders Thread - Thursday 25th March (NXT)     

Crocodile - 24 Mar 2004 22:26

UK PreMarket Futures FTSE +5 DAX -8 DOW Unch S&P +1 Nasdaq +0.5

1 Day  

 2 Day  

5 Day  

UK News

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Gold/Bond Pivots Markets  Futures Translate
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1 Day 2 Day 5 Day  US News

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S&P Futures

Nikkei +165   Hang Seng -113  Asia News

 DAX    CAC    Euro News
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US equities failed to hold on to early gains as investors become increasingly nervous holding open positions.

Next beat forecasts with a 17 percent rise in annual profit to 353.3 million pounds ahead of expectations of 343 million. It said its new financial year had started well with sales were up 3.0 percent in the first seven weeks of its new financial year.

The London Stock Exchange said that the average number of trades each day rose to 230,000 from 213,00 in January and February, but said it saw a dip in the number of terminals used by market professionals. More trades less brokers due to computerised trading systems.

Tate & Lyle said that overall trading was in line with the company's expectations, and that its outlook for 2005 was unchanged.

Johnson Matthey chemicals and metals expects earnings for the year to beat year-earlier levels, but in line with market expectations

Man Group hedge fund manager said it expected its pre-tax profits for the year ending March 31, 2004 to be materially ahead of market expectations with sales of around $10.5 billion, pushing funds under management up to $38 billion from $26.1 billion a year ago.

FKI said its finance chief would be taking early retirement as part of a shake-up of management and that its underlying annual performance was in line with expectations.

3i Group said that most of its investments were performing satisfactorily and it expected full-year provisions for failing investments to fall "substantially".

ukf.gif Calendar: United Kingdom
usf.gif United States (GMT)
euro.gif Europe & World (GMT)

Alpha Airports Group (F), Cape (F), Capital and Regional (F), Codascisys (F), Entertainment Rights (F), Evolution Group (F), Hardy Underwriting (F), MTL Instruments (F), Next (F), Ottakar's (F), Oystertec (F), Rotork (F), Rotork (F), S and U (F), Symphony Plastic Technologies (F), Thompson Clive (F), Thomson Intermedia (F), Volvere (F), Digital Classics (EGM), Newmark Security PLC (EGM), Brunner Investment Trust (AGM), Crest Nicholson (AGM), Image Scan Holdings (AGM), QA (AGM)

Feb BBA Mortgage lending (09:30), Feb Motor vehicle prod (09:30) Q4 Revised business investment (09:30)

ConAgra Foods

13:30 Chain Deflator-Final Q4 - 1.2% 13:30 GDP-Final Q4 - 4.1% 13:30 Initial Claims 03/20 - 340K 15:00 Existing Home Sales Feb - 6.25M

Deutsche Lufthansa AG, HeidelbergCement AG Pfeiffer Vacuum Technology, Zapf Creation AG Web.de AG, Evotec OAI AG FJH AG, AWD Holding REpower Systems AG, United Internet AG

Clarins, Wendel Investissement Compagnie de Saint Gobain, Bacou-Dalloz

Croc@SnappyTrader.com  WWW.SnappyTrader.com

Data

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US Zone

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Currency Calc

Crocodile - 25 Mar 2004 12:53 - 15 of 28

EMail sent to me this morning with no reply address

"Hello, I read often your articles and it sounds like I can ask a question about trading: i am very new in trading but what mystify me is that some days they say shares are mainly a sell day and other days they say everybodey is buying- that does not make sense to me because if somebody sells somebody else buy which is the same? Cheers sconra"

Yes of course you are right! But it can give some indication to market pressure / sentiment.
D.

Melnibone - 25 Mar 2004 13:14 - 16 of 28

That was an interesting voyage of discovery.

Trouble is, I've still got order ticket problems.
Another E-Mail sent off to the Help Desk.

I don't fancy trading on a platform that may have a corrupt
database, never know what I might end up buying or selling.

God, just think if I received a statement quoting me long
on TWT or some other such load of rubbish!

Looks like I'll be spreadbetting the S@P instead until this
is sorted out.

Watched Tom H. on the Bloomberg TA spot this morning.
He seems to be thinking much the same as me. Maybe we are
all thinking the same and it will end up as self fulfilling.

He mentioned the breaking of the last swing low on the FTSE,
which caused me to voice my concerns yesterday if you remember.
If we now make a lower high and drop down below it again
that will tend to confirm a short term trend change.

He also mentioned the 4150 area as well, which I have also
quoted as my initial target price if this down swing continues.

Keep a weather eye on your longs guys.

Melnibone.

stockbunny - 25 Mar 2004 13:30 - 17 of 28

Melnibone..
Do you think it could regress as far as 4150?
I've read your post twice and hope I'm mis-reading it...

little woman - 25 Mar 2004 13:33 - 18 of 28

I seem to remember others making simular comments last August, but the market didn't agree! - in fact, someone I know has admitted his money has been in cash since Feb because he still believes it has further to fall.

Personally I've been using stop lossess and so far in the last 2 weeks only one has been triggered.

little woman - 25 Mar 2004 13:55 - 19 of 28

It feels like everyone is holding thier breathe to see what the US is going to do!

stockbunny - 25 Mar 2004 13:58 - 20 of 28

Trying not to go blue....

nostromo - 25 Mar 2004 14:23 - 21 of 28

On "The Other Place's" web site they are advertising a book called 'The Way to Trade', by John Piper. Has anyone read it ? Is it any good ? The supplier is making VERY great claims for its ability to turn a novice into a trader.
Regards
Dave

little woman - 25 Mar 2004 14:32 - 22 of 28

Looks like the US has opened +60

Melnibone - 25 Mar 2004 15:00 - 23 of 28

stockbunny, 4150 is my retrace target IF we continue to retrace
further.

Doesn't mean it will, nothing is written in stone and the future
is not yet written.

All we do is look at history and try to use it as a guide to the
future.

Some say we might as well use chicken bones. :-)
Maybe they are right. :-)

Melnibone.

little woman - 25 Mar 2004 15:05 - 24 of 28

Melnibone - chicken bones :-) excellent........LOL

Crocodile - 25 Mar 2004 15:32 - 25 of 28

Trading the DOW at the moment, nice 20point channel

nostromo, yes its very good.
D,

Melnibone - 25 Mar 2004 15:33 - 26 of 28

draw?size=Big&startDate=25%2F09%2F03&per

To reiterate one piece of history, look at the swing low in
December circa 4330 and the second swing low after the Standard
Life sell off at circa 4360.

Yesterday we broke the first one at 4330.
Today we've broken above it but failed to break above the second
one at 4360.
Coincidence?
Or marking levels where folk were willing to buy in an uptrend
but not in a downtrend? Resistance levels where they sell out for
breakeven during nervous or negative sentiment times?

You decide.

Melnibone.

little woman - 25 Mar 2004 15:39 - 27 of 28

I've decided to miss the fun and visit the local Sainsbury (whoose biggest problem is they can't fill the shelves fast enough - so they are always out of stock!)

optomistic - 25 Mar 2004 20:24 - 28 of 28

LW
Sorry to take such along time to respond but have been out all day. Re Tools/internet options/security, do ensure that the setting is M Soft Default which is medium, anything under this level will I think allow too much access to your PC.
opto
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