| Home | Log In | Register | Our Services | My Account | Contact | Help |
Traders Thread - Tuesday 2nd September (BBA)
Crocodile - 01 Sep 2003 23:12
|
|
|
Gold
|
|
|
|
|
|
|
|
|
S&P &Futures (Click for latest)
|
Pre Market Futures (7:30) | |
| FTSE | +15 | ||
| TechMark | +1 | ||
| DAX | +5 | ||
|
Hang Seng +36
|
Nikkei +19
|
DOW | +34 |
| S&P | +4.3 | ||
| Nasdaq | -1.5 | ||
|
News Headlines: In the United States the release of the Institute of Supply Management (formerly NAPM) manufacturing index for August will be closely watched for signs the economic recovery is more than wishful thinking Shares are set to open slightly higher as investors wait for Wall Street to return from a long weekend with US futures higherBrambles Industries fell heavily in Australia on worries about its U.S. business. The Anglo-Australian supplier of freight pallets and other industrial services said its annual net profit fell 39 percent, driving its Australian shares down around eight percent as investors fretted about its U.S. business.Canary Wharf The property group's founder and chairman late on Monday denied he had held talks to sell 100 million pounds of warrants to a consortium led by Morgan Stanley RBOS cut to equal weight at Morgan Stanley BBA Group aviation services and specialist materials reported first half pre-tax profit of 61.2 million pounds, in line with market expectations and increased dividened to 3.2 pence from 3.1 pence. BBA said it expected useful progress in the second half as the benefits of lower costs, new contracts, productivity gains and recent acquisitions came through. Meggitt aerospace engineer met forecasts with a 4.7 percent rise in first-half profits to 35.7 million pounds as military sales outpaced civil and said it was on track to meet 2003 expectations. Whitbread hotels and leisure group said sales growth in the first 24 weeks of its financial year up to August 14 had been encouraging. The company runs Marriott hotels, David Lloyd fitness clubs and Beefeater restaurants said that it remains confident about the prospects for the company and its potential for continued growth. Computacenter, Britain's largest IT hardware distributor reported a 31 percent rise in first-half profits on Tuesday and said it hoped to sustain the performance over the year. Profits for the six months rose to 32 million pounds from 24.4 million last year above analysts forecasts which ranged between 28 and 31 million pounds. Britannic Group insurer said that first-half profit fell 15 percent, beating analysts' forecasts as it made better-than-expected new business profits. Profit for the six months dropped to 44 million pounds from 52 million pounds a year earlier. Analysts' predictions had ranged from 28 million pounds to 38 million.Debenhams which is facing a takeover bid from private equity firm Permira, said its like-for-like sales in the last 26 weeks rose 3.9 percent. Gross margin was up 0.7 percentage points, while the full-year margin was up by 0.4 percentage points. Westbury housebuilder said it had traded strongly during the first half and it was confident the results would be in line with expectations. Its order book had been maintained at healthy levels with forward sales of 270 million pounds secured at the half year. "The fundamentals for our industry have not changed, with demand continuing to exceed supply," the firm said in a statement. Schroders fund manager posted a 64% jump in profit to 32.4 million pounds for the first half of the year with underlying asset management profits of 32.6 million pounds. Markets had predicted they would record a group profit of 25.2 million pounds on underlying fund management profits of 34.9 million pounds. Tibbett & Britten Group haulage and storage firm posted lower first-half profits on Tuesday, but said it expected the second half to show its usual seasonal strength after a surge of new contracts and renewals.
|
|||||||||||||||||
ThePlayboy
- 02 Sep 2003 07:21
- 2 of 14
R2 4256.8
R1 4230.6
PP 4195.8
S1 4169.6
S2 4134.8
Close was above Mon R1 and just below the 38.2 FIB at 4209 after loosing 3.6pts in the auction.
ThePlayboy
- 02 Sep 2003 07:22
- 3 of 14
Key DOW Levels for 9/2
UP Above 9,450
DN Below 9,350
Continued Upmove
Dow trades sideways, pushes higher to the Close.
From prior commentary, "...The late-day break through 9,350 sparked a sharp move higher late in the afternoon and aids in the formation of a likely higher low in the Daily Chart...higher lows are good indicators of further upside movement..."
The Dow continues to trade higher within the overall major uptrend, seen in the Daily Chart. The index traded sideways early in the session, then made a slow and steady advance to end the session at the day's highs, seen in the 15 Minute Chart.
The index continues the formation of the potential higher low pattern, seen in the Daily Chart. The index must break through 9,500 if further upside movement is to be seen.
Looking at the 60 Minute Chart shows that the Dow continues to trade within the boundaries of the upward-sloping range. This pattern typically results in a downside break. Therefore, a break below 9,300 will usher in weakness. However, further development of the pattern will likley occur before any such break is seen.
Short Term Dow
Short term, the Dow has formed a tight range at the highs of the 1 Minute Chart from 9,395 to 9,422. Watch for a break from this range to gauge strength at the Open Monday.
Medium Term Dow
In the medium term, we closed Longs this morning at 9,357, giving us a breakeven trade. We later entered a new Long position on the breakout at 9,400 and again at 9,415, but were stopped out. We are currently out of the market and will watch 9,350 down, and 9,450 up, with 10 point stops.
NASDAQ & S&P
The NASDAQ and S&P each trended slowly higher today, gaining modestly on the session. Watch the lower trend line in the NASDAQ and the sloping range in the S&P for Monday's market. *
Summary
The Dow continues to push higher within the sloping range that is forming in the 60 Minute Chart. An upside break through 9,500 will indicate a true higher low formation and will likely spark a significant push higher. Otherwise, a break below 9,300 will indicate the potential for a retracement.
Crocodile - 02 Sep 2003 07:42 - 4 of 14
little woman
- 02 Sep 2003 09:06
- 5 of 14
Market still seems to be going sideways. It doesn't seem to know if it wants to rise, or drop!
No trading again to day. I purchased some AZN yesterday morning (limit order kicked in!) which is showing a small profit this morning. Nice boring share, but if I can make 5% profit in a week I won't object!
Druid2
- 02 Sep 2003 09:11
- 6 of 14
little woman
- 02 Sep 2003 09:32
- 7 of 14
little woman
- 02 Sep 2003 09:39
- 8 of 14
Crocodile - 02 Sep 2003 09:48 - 9 of 14
skinny
- 02 Sep 2003 10:34
- 10 of 14
Currently long HBOS short BRBY AVZ.
Croc - good luck with LOG another interesting chart.
I mentioned on the traders thread yesterday that KCOM chart looks interesting - up another 3 this am - any thoughts?
guysands - 02 Sep 2003 11:10 - 11 of 14
They are telling me it's my ISP but every other site I visit is perfectly ok so I'm not sure about that. I'd love to hear from other users of this service.
little woman
- 02 Sep 2003 11:51
- 12 of 14
Just sneaked a look - hope you closed your short and went long instead!
Crocodile - 02 Sep 2003 12:26 - 13 of 14
guysands
Sorry I dont use them ..
Thanks, KCOM does look interesting.
Druid2
- 02 Sep 2003 19:10
- 14 of 14
- Page:
- 1
| About MoneyAM | Ts and Cs | Privacy Policy | Investment Warning | Content Standards | Corporate Solutions | Advertise With Us | Site Map | © 2025 MoneyAM |
Follow us on Twitter