The FTSE ended up on the day, nearly 63 points, in fact, finishing at 6,721. The FTSE 250 was up a healthy 187 points at 11,666.
Over the pond there were smiles as the Feds announced that GDP was up 3.9per cent in the 3rd quarter, which was up a percent, call it, on what the clever bean counters and economists predicted. Yep, smiles all round as everyone waits for a now expected 1/4 per cent cut in interest rates by the Feds too. This should help domestic growth in US, so the bulls rolled their sleeves up yet again. We'll need oxygen if we go any higher, at this rate. By the time London closed the DJI was up about 66.5 points at 13,859 and the SandP 500 was up a more modest 11 points at 1,542, but up all the same. Tech bias Nasdaq was also up nearly 97 points at 10,262.
As mentioned this morning, and last night we think (?!), the Irish race horse guys, Magnier and McManus have been building a stake in Mitchell and Butler, who closed up 40.5 points at 665.5.
Also reported this morning was the DSG International possible deal (rumours), which saw them finish top of the leaders, up 8.6p at 129.5 on the 2-quid bid from US firm Best Buy.
Housebuilders did well today, with news that prices had been fairly even last month, despite the scaremongering. Taylor Wimpey was up 14p at 247.5, despite telling us all that sales would be 5% less this year. Looks like the bad news was already built in there. persimmons was up over 50p at 1,049 and Bovis was up over 25p at 663.
Supermarket leader Tesco was up over 16p at 488 after the Competition Commission said that Tesco wasn't being anti-competitive by buying up most of the green belt in the country. Well, maybe not most of it, but apparently they are within the realms of being fair, even though they are stockpiling the decent bits of land on town bounderies, ready to pounce.
Home Retail Group, the Argos store owner, took on nearly 8p, finsihing at almost 436 on news that about £70m quid's worth of stock was being placed to client s and institutions by Merrill Lynch.
The heavyweight miners turned up again, possibly on US interest rate speculation, with Vedanta up 79p at 2,200, BHP up 13p at 1,830 and Lonmins up 88p at 6,436.
Unilever was down 27p at 1,625 on expected slowdown of sales for the 3rd quarter. bad weather affected ice cream sales this summer, which is a big part of sales in this quarter usually.
Premier Oil finished up 72p higher at 1,240 on consolidation in the mid-cap sector.
Wednesday, 31 October 2007
EUR and GBP dominating the market
Take a look at the EUR and GBP charts below. The day chart is key to show you the trend... They have both been dominating the market over the USD Dollar.
The GBPUSD chart showed you a buy signal on the 20th Sept and in 5 weeks GBP has risen 765 points. A good strategy is to buy on one conductor and exit on the next.
The EURUSD chart showed a buy signal at 1.4400 on the 10th Oct and in 20 days has produced nearly 500 points.
The Daily chart can really take the stress out of trading and as long as you trade with the fundamentals...
The GBPUSD chart showed you a buy signal on the 20th Sept and in 5 weeks GBP has risen 765 points. A good strategy is to buy on one conductor and exit on the next.
The EURUSD chart showed a buy signal at 1.4400 on the 10th Oct and in 20 days has produced nearly 500 points.
The Daily chart can really take the stress out of trading and as long as you trade with the fundamentals...
GBP looks strong ahead of the FED announcement...
The FED will announce their Interest Rate Statement at 7.15pm this evening. Overall GBP has continued to look strong and today has seen GBPJPY power off its 237.00 level for a 180 point trade up towards 239.00. The Green conductor alerted us to this move perfectly this morning.
A perfect trade with the trend!!!
A perfect trade with the trend!!!
Morning Wrap, Wednesday, 31st October 2007, 9am
At 9am the FTSE was down 11 points at 6,648, continuing the trend from yesterday. In contrast, the FTSE 250 was actually up 55 points at 11,535, all with fairly moderate volume.
Last night saw the US close down with the DJI down nearly 78 points at 13,792, mainly due to the uncertaincy Fed's interest rate decision later today.. Over night the Nikkei 225 closed up nearly 87 points at 16,737 and the Hang Seng was down 233 at 31,409.
Oil fell in the Far Eastern markets, now back below US$ 90 bbl, as the call for more production gets heard, it seems. New York's light sweet crude December was over half a cent down at US$ 89.82 bbl. That's a $3 drop since Monday. The oil majors dropped in reaction - Royal Dutch Shell fell 22p to 2,080 and BP fell 6p to 616.5. dipped 6-1/2 to 616. One positive in this sector was Premier Oil, who were up 60p at 1,228 as rumours of a Shell bid were being banted around.
M and A news - Mitchell and Butlers MandB was up 25p at 650 as it came to light that the Irish Horse racing guys McManus and Magnier have been building a holding.
DSG International was up about 5% (6p) at 127 as a US 2-quid bid was doing the rounds.
Heavyweight miners were not doing too well, with Rio off 60p at 4,347, BHP down 28p at 1,790, Xstrata down 33 at 3,434 and Vedanta down 41p at 2,080.
After yetserday's concerns, Tate & Lyle was up 14p to 447 after it announced profits where they were expected, despite previous profit warnings earlier in the year. Yesterday's fall was jumping the gun, we see. Profits were at STG 120m, down from 149m, with sales about the same at £1.66bln, up from STG 1.65bln. Broker's buy rating helping to turn the price of the stock back up again.
Housebuilders have done ok so far too, with Taylor Wimpey up 6p at 241 on some trading update info, despite saying the markets was fairly quieter than last year. The firm said that whilst prices were fairly stable there weren't so many people looking at new builds, hence reservations were down. They blamed recent bank problems as a contribution too, and expect a 5% drop in sales on the year. It seems the recent fall and bad news was already in the price. Other builders are also up, with Bovis up 15p at 653, Bellway up 20p at 1,052 and Persimmons up 2p at 790. One faller was Barratts, who were down 8p to 640 as invetsors moved into Taylor Wimpey, it seems.
After the commissions competition ruled that all was well with the major 4 supermarkets buying up the countryside, prices were up. Morrisons were up 5p at 301, Tesco up 10p at 481 and Sainsburys were up 4.5p at 557.
Last night saw the US close down with the DJI down nearly 78 points at 13,792, mainly due to the uncertaincy Fed's interest rate decision later today.. Over night the Nikkei 225 closed up nearly 87 points at 16,737 and the Hang Seng was down 233 at 31,409.
Oil fell in the Far Eastern markets, now back below US$ 90 bbl, as the call for more production gets heard, it seems. New York's light sweet crude December was over half a cent down at US$ 89.82 bbl. That's a $3 drop since Monday. The oil majors dropped in reaction - Royal Dutch Shell fell 22p to 2,080 and BP fell 6p to 616.5. dipped 6-1/2 to 616. One positive in this sector was Premier Oil, who were up 60p at 1,228 as rumours of a Shell bid were being banted around.
M and A news - Mitchell and Butlers MandB was up 25p at 650 as it came to light that the Irish Horse racing guys McManus and Magnier have been building a holding.
DSG International was up about 5% (6p) at 127 as a US 2-quid bid was doing the rounds.
Heavyweight miners were not doing too well, with Rio off 60p at 4,347, BHP down 28p at 1,790, Xstrata down 33 at 3,434 and Vedanta down 41p at 2,080.
After yetserday's concerns, Tate & Lyle was up 14p to 447 after it announced profits where they were expected, despite previous profit warnings earlier in the year. Yesterday's fall was jumping the gun, we see. Profits were at STG 120m, down from 149m, with sales about the same at £1.66bln, up from STG 1.65bln. Broker's buy rating helping to turn the price of the stock back up again.
Housebuilders have done ok so far too, with Taylor Wimpey up 6p at 241 on some trading update info, despite saying the markets was fairly quieter than last year. The firm said that whilst prices were fairly stable there weren't so many people looking at new builds, hence reservations were down. They blamed recent bank problems as a contribution too, and expect a 5% drop in sales on the year. It seems the recent fall and bad news was already in the price. Other builders are also up, with Bovis up 15p at 653, Bellway up 20p at 1,052 and Persimmons up 2p at 790. One faller was Barratts, who were down 8p to 640 as invetsors moved into Taylor Wimpey, it seems.
After the commissions competition ruled that all was well with the major 4 supermarkets buying up the countryside, prices were up. Morrisons were up 5p at 301, Tesco up 10p at 481 and Sainsburys were up 4.5p at 557.
Tuesday, 30 October 2007
Market Wrap, Tuesday, 30th October 2007, 8pm
The FTSE closed down 47 points today at 6,659, slightly up from its low of 6,654. The FTSE 250 was down almost 74 points at 11,479.
New York also fell after opening, with concern over the Fed's interest rate decision tomorrow. By London's close the DJI was down a similar amount as the FTSE's performance for the day - about 47 points.
In London the miners, who have done well of late, fell back, pulling the index with them. vedanta was down 109p at 2,121, Anto down 27p at 833.5, Anglo down 94p at 3,258, BHP down 50p at 1,818 and Kazakhmys down 29p at 1,485.
Tobacco was nearly up in smoke today, with BAT down 15p at 1,801 on broker downgrade and Imperial Tobacco down 4p at 2,446 depsite posting profits where expected. The good news was already built in, we suspect. Buyers were almost met with as many sellers, taking profits we'd say.
Not too juch sweet tea at Tate and Lyle, where they finished the day down over 8p at 433, as reports implied that after recent profit warnings we should all get ready to see a fall in profits with its Interims reported tomorrow.
Northern Rock was down 6.6p at 183.4 on a poor article by the respected FT. A summary is that there's been some interest but none of it fixes anything.
In contrast to Northern Rock, Alliance and Leicester, which normally follows NRK, was up 14.5p at 768 after broker comment and one target price of a tenner.
Schroders had a nice day, as we mentioned this morning. Up 65p on the day at 1,352 after it told us all it had made nearly £100m, up from about 2/3rds of that at £64m last year. This was up over 15% on broker's forecasts. We may see a little profit taking tomorrow, we feel.
The builders did well today, with barratts up 18p at 649, Persimmons up 17.5p at 998, and taylor Wimpey up 3p at 233.5.
BskyB was up 14p at 675.5 ahead of its quarterly figures due at the end of the week. One broker has an 820p target now. just check that chart, the Market Analsyer picked it beautifully.
Cairn Energy was still suffering, down 127p at 2,279 after other brokers jumped on the downgrade bandwagon.
STG remains strong again now, up at USD2.067. Oil has also been getting marked up somewhat recently, middle east tension and also on the dollar's weakness being reasons for the high price of the black stuff.
New York also fell after opening, with concern over the Fed's interest rate decision tomorrow. By London's close the DJI was down a similar amount as the FTSE's performance for the day - about 47 points.
In London the miners, who have done well of late, fell back, pulling the index with them. vedanta was down 109p at 2,121, Anto down 27p at 833.5, Anglo down 94p at 3,258, BHP down 50p at 1,818 and Kazakhmys down 29p at 1,485.
Tobacco was nearly up in smoke today, with BAT down 15p at 1,801 on broker downgrade and Imperial Tobacco down 4p at 2,446 depsite posting profits where expected. The good news was already built in, we suspect. Buyers were almost met with as many sellers, taking profits we'd say.
Not too juch sweet tea at Tate and Lyle, where they finished the day down over 8p at 433, as reports implied that after recent profit warnings we should all get ready to see a fall in profits with its Interims reported tomorrow.
Northern Rock was down 6.6p at 183.4 on a poor article by the respected FT. A summary is that there's been some interest but none of it fixes anything.
In contrast to Northern Rock, Alliance and Leicester, which normally follows NRK, was up 14.5p at 768 after broker comment and one target price of a tenner.
Schroders had a nice day, as we mentioned this morning. Up 65p on the day at 1,352 after it told us all it had made nearly £100m, up from about 2/3rds of that at £64m last year. This was up over 15% on broker's forecasts. We may see a little profit taking tomorrow, we feel.
The builders did well today, with barratts up 18p at 649, Persimmons up 17.5p at 998, and taylor Wimpey up 3p at 233.5.
BskyB was up 14p at 675.5 ahead of its quarterly figures due at the end of the week. One broker has an 820p target now. just check that chart, the Market Analsyer picked it beautifully.
Cairn Energy was still suffering, down 127p at 2,279 after other brokers jumped on the downgrade bandwagon.
STG remains strong again now, up at USD2.067. Oil has also been getting marked up somewhat recently, middle east tension and also on the dollar's weakness being reasons for the high price of the black stuff.
GBPJPY - 200 points today...
GBPJPY showed it strength again today with a move off 235.00 and is now trading over 200 points higher at 237.00.
Watch how the retracement indicator alerted us to the trade at 7am this morning!!!
Watch how the retracement indicator alerted us to the trade at 7am this morning!!!
GBP keeps strong ahead of wednesday...
Cable remains strong ahead of wednesdays Fed announcement. There are rumours of a 25Bps reduction, which should keep the strength in the pound...
The 15 minute chart picked up the intraday retracement indictaor at 7am this morning and so far we have seen a 120 point bounce off the 200MA.
The 15 minute chart picked up the intraday retracement indictaor at 7am this morning and so far we have seen a 120 point bounce off the 200MA.
Morning Market, 30th October 2007, 9.30am
The FTSE was down a little this morning, and by 9am was at about 6,690, 15points off yesterday's close. The FTSE 250 was down 30 points at 11,523.
The US had a good day in the end yesterday, with everyone expecting a further interest rate cut by the Feds on Wednesday. They start their 22-day deliberation on the US economy today. The DJI finished up over 63 points at 13871, the SandP 500 was up a little, just under 6 points at 1,541, and the Nasdaq was up 13.25 2,817.5.
Overnight in the Far East the Nikkei was down 47 points at 16,651 and the Hang Seng was down 39 points at 31,626 by the middle of play.
After yesterday's high oil decided it had run fast enough and New York's Light Sweet Crude was down 84cents at USD 92.7 bbl. Our very own Brent North Sea crude (dec delivery also) fell by 71 cents to USD 89.61. It hit been up at an all-time record on Monday of US$ 93.80.
This morning in London we saw Imperial Tobacco down 34p at 2,409 as profit taking came in after expected year end figures were received. Investors aren't too keen on the planned Altadis acquisition, either. Profits were up 9 pcnt at just under £1.5 bln, and a 69.5p divi was the full year payout to holders. British American Tabacco fell in sympathy, down 15p to 1,801. BAT also received a broker downgrade.
The miners fell back after their recent run, with investors taking some profits. Not sure everyone was overpleased at the Xstrata confirmation yesterday of the Aussie miner Jubilee Mines. BHP was down 26p at 1,842, Rio down 37p to 4,437, Anto down 10p to 851 and Lonmin down 60p at 3,336.
Schroders was up 9p in early trading to 1,485 after it said profits were up by a third at just shy of £100m.
Luminar was down over 15p at 617 on profit taking, despite a broker target of 850p.
The US had a good day in the end yesterday, with everyone expecting a further interest rate cut by the Feds on Wednesday. They start their 22-day deliberation on the US economy today. The DJI finished up over 63 points at 13871, the SandP 500 was up a little, just under 6 points at 1,541, and the Nasdaq was up 13.25 2,817.5.
Overnight in the Far East the Nikkei was down 47 points at 16,651 and the Hang Seng was down 39 points at 31,626 by the middle of play.
After yesterday's high oil decided it had run fast enough and New York's Light Sweet Crude was down 84cents at USD 92.7 bbl. Our very own Brent North Sea crude (dec delivery also) fell by 71 cents to USD 89.61. It hit been up at an all-time record on Monday of US$ 93.80.
This morning in London we saw Imperial Tobacco down 34p at 2,409 as profit taking came in after expected year end figures were received. Investors aren't too keen on the planned Altadis acquisition, either. Profits were up 9 pcnt at just under £1.5 bln, and a 69.5p divi was the full year payout to holders. British American Tabacco fell in sympathy, down 15p to 1,801. BAT also received a broker downgrade.
The miners fell back after their recent run, with investors taking some profits. Not sure everyone was overpleased at the Xstrata confirmation yesterday of the Aussie miner Jubilee Mines. BHP was down 26p at 1,842, Rio down 37p to 4,437, Anto down 10p to 851 and Lonmin down 60p at 3,336.
Schroders was up 9p in early trading to 1,485 after it said profits were up by a third at just shy of £100m.
Luminar was down over 15p at 617 on profit taking, despite a broker target of 850p.
Market Wrap, Monday 29th October, 7pm
The FTSE was back above the 6,700 level, with miners leading the way. The US was also forward, but not with as much gusto with the interest rate news coming Wednesday.
the FTSE closed at 6,706, which was up nearly 45 points on the session. The high of the day was just shy of 6,727. The FTSE 250 closed at 11,552.8, up 43.2 points on the day. Volume wasn't very heavy, which is worth noting.
In the US the 2-day meeting by the Feds begins tomorrow, with the interest rate result being announceed on Wednesday. Lats month there was a 0.5% drop, to try and stimulate the housing market and economy in general, so Wednesday's decision looks a big one, whatevr it is. If rates continue to fall there is some concern that this will fuel the sub-prime credit problems further, with people borrowing more again at cheaper interest rates. Catch 22 comes to mind - they want to stimulate the economy, but could fuel the fire in doing so.
Gold is near US$800 per ounce, getting near our estimate at the start of the year of US$860 by the end of the year. We said that at a seminar, with gasps around the audience, but we were sure. Ok, we may be a little too bullish, but it was a good call.
Xstrata was up 48p to 3,576 on the day after its AUD 3 bln bid for the Aussie Nickel producer, Jubilee Mines that we mentioned this morning, helped the miners storm upwards. Anto was up 11p at 860, BHP was up 25p at 1,868, Rio was up 60p at 4,477 and vedanta up 74p at 2,230. There could be one of two intra-day shorts coming this way, we reckon.
Oil could be at USD 100 bbl shortly, it seems. Sell the 4x4 or up your mortgage. BP was up another 5p to 634, Royal Dutch Shell was 13p up at 2,144 and Tullows was 10p up at 640p. Mid-cap favourite Cairn seems to have run too much as brokers gave it a downgrade and it fell 57p on the day, finishing at 2,406.
See this morning's news post for the Resolution/Standard Life situation, which saw Resolution withdraw its support for Standard Life's bid. All this helped the sector with Aviva adding a couple of pennies to close at 731p.
The housebuilders didn't fair as well, with taylor wimpey falling back ahead of the trading update that's due on wednesday, finishing at 230.5, down 8.5p. hammersons were also down 30p at 1,021 and Barratts also fell, finsihing 20p down at 630.
Another casualty was sainsburys, down 13p at 553 on the ongoing Delta Two bid. Much as we said this morning, the Qatari firm needs support from the qatari government in the next 2 weeks or the deal may be off.
.
the FTSE closed at 6,706, which was up nearly 45 points on the session. The high of the day was just shy of 6,727. The FTSE 250 closed at 11,552.8, up 43.2 points on the day. Volume wasn't very heavy, which is worth noting.
In the US the 2-day meeting by the Feds begins tomorrow, with the interest rate result being announceed on Wednesday. Lats month there was a 0.5% drop, to try and stimulate the housing market and economy in general, so Wednesday's decision looks a big one, whatevr it is. If rates continue to fall there is some concern that this will fuel the sub-prime credit problems further, with people borrowing more again at cheaper interest rates. Catch 22 comes to mind - they want to stimulate the economy, but could fuel the fire in doing so.
Gold is near US$800 per ounce, getting near our estimate at the start of the year of US$860 by the end of the year. We said that at a seminar, with gasps around the audience, but we were sure. Ok, we may be a little too bullish, but it was a good call.
Xstrata was up 48p to 3,576 on the day after its AUD 3 bln bid for the Aussie Nickel producer, Jubilee Mines that we mentioned this morning, helped the miners storm upwards. Anto was up 11p at 860, BHP was up 25p at 1,868, Rio was up 60p at 4,477 and vedanta up 74p at 2,230. There could be one of two intra-day shorts coming this way, we reckon.
Oil could be at USD 100 bbl shortly, it seems. Sell the 4x4 or up your mortgage. BP was up another 5p to 634, Royal Dutch Shell was 13p up at 2,144 and Tullows was 10p up at 640p. Mid-cap favourite Cairn seems to have run too much as brokers gave it a downgrade and it fell 57p on the day, finishing at 2,406.
See this morning's news post for the Resolution/Standard Life situation, which saw Resolution withdraw its support for Standard Life's bid. All this helped the sector with Aviva adding a couple of pennies to close at 731p.
The housebuilders didn't fair as well, with taylor wimpey falling back ahead of the trading update that's due on wednesday, finishing at 230.5, down 8.5p. hammersons were also down 30p at 1,021 and Barratts also fell, finsihing 20p down at 630.
Another casualty was sainsburys, down 13p at 553 on the ongoing Delta Two bid. Much as we said this morning, the Qatari firm needs support from the qatari government in the next 2 weeks or the deal may be off.
.
Monday, 29 October 2007
GBP/JPY 178 Point Breakout...
GBP/JPY had a perfect triangle breakout today. The currency has been contained for the whole of last week. The daily chart shows the reversal in the trend and the hourly gave us the entry point at 235.00 with a strong breakout of 178 points...
Gold Proving to be a Strong Buy...
The Gold price has rallied strongly since August. The idea is to follow the Indictaors with the Trend and the last indicator appeared on the 21st Aug with the Gold price rallying from 650.00 to 795.00...
More recently on wednesday last week, the retracement indicator alerted us to a potential buy at 750.00 with a solid move up to 795.00 in 2 1/2 days.
More recently on wednesday last week, the retracement indicator alerted us to a potential buy at 750.00 with a solid move up to 795.00 in 2 1/2 days.
Morning Market, Monday 29th October 2007, 10am
The FTSE was up early doors after the US's nice end to the week on Friday and the suspected further cut in interest rates by the Fed on Wednesday. By 10am the FTSE was at 6,691, with volume healthy.
In the US on Friday we saw the DJI close 135 points higher at 13,806.7, the SandP500 up almost 21 points at 1,535.28, and Nasdaq up over 53 points at 2,804.19. Microsoft's earnings helped the market as well as the upbeat property market news.
Overnight in the Far East we saw the Hang Seng hit a new high. Get some oxygen. We are over 31,000 there, up at almost 31,500. Telecoms and proprty helping over there.
Oil was over USD 93 per bbl, mainly due to middle east tension, it seems. New York light sweet crude for December delivery was at USD 93.12 bbl, up from the record close at USD 91.86 on Friday.
Back to London, where the miners helped the FTSE's early lift.
Xstrata rose 72p to 3,604 on news of its AUD3bln bid for an Aussie Nickel Miner, Jubille Mines, whilst others followed, with Rio Tinto up 141p at 4,558, Anto up 23p to 872.5, while BHP up 40p to 1,883.
Oil stocks were obviously up, reaping the oil price benefits, with Royal Dutch Shell up 11p at 2,138.5 and BP up 6p at 634.75.
Cable & Wireless was up nearly 4p at 197.5, as it said it was in discussions with regard to selling its GBP 2 bln pension fund. A Sunday newspaper reported that the firm is trying to make some money with its UK armn, something that hasn't happened to date. It looks like the group may split up in the next year or so.
Scottish & Newcastle shares took on 2.5p to 761.25, after some news that the board is putting up a fight on the hostile bid from Carlsberg and Heineken. The firm had also become attrative due to its 50% stake in a JV with Carlsberg in BBH, a Russian firm doing well in the expansing Russian beer arena. Various reports were being thrown around, with one saying that the firm may try buying out Carlsberg's stake, but that doesn't seem to be an easy option.
Sainsburys was down this morning on news that the Qatari group, Delta Two, has 2 weeks to get another half a billion quid from the Qatari government or the proposed deal is off. The chat about the supermarkets' land banks being a subject of attention for the Competition Commission here in the UK also conributed to the price falling. Tesco was also down 1.5p and Morrissons down 2p.
Standard Life's was down 2.75p to 275.75, after Resolution pulled its eecommendation of Standard Life and Swiss Re's nearly GBP 5 bln (715p per share) takeover offer. On Friday, Standard Life's offer was accepted by Resolution, but then Pearl came straight in with a hostile 'all cash' bid at 5p more per share offer, whilst also picking up more stock to put its stake to 24% (up 8%). This would make the Standard Life offer almost impossible to push through. Resolution hasn't agreed to anything yet, so others may be forced to raise their bids.
Northern Rock was down 10p at 180.7 as Virgin and JC Flowers may be joined by Cerberus in the race. It is reported that Cerberus may use its 51% stake in GMAC ready to help with any bid on Northern Rock.
Royal Bank of Scotland was also lower, down 4.5p at 503, with brokers marking it as a 'sell' and 450p target. This is nearly half the previous buy recommendation of an 800p target. Contrast in views, now, then...?
Cairn Energy, a mid-cap favourite, also had bad talk by brokers dowing the rounds as it fell 30p to 2,433.
In the US on Friday we saw the DJI close 135 points higher at 13,806.7, the SandP500 up almost 21 points at 1,535.28, and Nasdaq up over 53 points at 2,804.19. Microsoft's earnings helped the market as well as the upbeat property market news.
Overnight in the Far East we saw the Hang Seng hit a new high. Get some oxygen. We are over 31,000 there, up at almost 31,500. Telecoms and proprty helping over there.
Oil was over USD 93 per bbl, mainly due to middle east tension, it seems. New York light sweet crude for December delivery was at USD 93.12 bbl, up from the record close at USD 91.86 on Friday.
Back to London, where the miners helped the FTSE's early lift.
Xstrata rose 72p to 3,604 on news of its AUD3bln bid for an Aussie Nickel Miner, Jubille Mines, whilst others followed, with Rio Tinto up 141p at 4,558, Anto up 23p to 872.5, while BHP up 40p to 1,883.
Oil stocks were obviously up, reaping the oil price benefits, with Royal Dutch Shell up 11p at 2,138.5 and BP up 6p at 634.75.
Cable & Wireless was up nearly 4p at 197.5, as it said it was in discussions with regard to selling its GBP 2 bln pension fund. A Sunday newspaper reported that the firm is trying to make some money with its UK armn, something that hasn't happened to date. It looks like the group may split up in the next year or so.
Scottish & Newcastle shares took on 2.5p to 761.25, after some news that the board is putting up a fight on the hostile bid from Carlsberg and Heineken. The firm had also become attrative due to its 50% stake in a JV with Carlsberg in BBH, a Russian firm doing well in the expansing Russian beer arena. Various reports were being thrown around, with one saying that the firm may try buying out Carlsberg's stake, but that doesn't seem to be an easy option.
Sainsburys was down this morning on news that the Qatari group, Delta Two, has 2 weeks to get another half a billion quid from the Qatari government or the proposed deal is off. The chat about the supermarkets' land banks being a subject of attention for the Competition Commission here in the UK also conributed to the price falling. Tesco was also down 1.5p and Morrissons down 2p.
Standard Life's was down 2.75p to 275.75, after Resolution pulled its eecommendation of Standard Life and Swiss Re's nearly GBP 5 bln (715p per share) takeover offer. On Friday, Standard Life's offer was accepted by Resolution, but then Pearl came straight in with a hostile 'all cash' bid at 5p more per share offer, whilst also picking up more stock to put its stake to 24% (up 8%). This would make the Standard Life offer almost impossible to push through. Resolution hasn't agreed to anything yet, so others may be forced to raise their bids.
Northern Rock was down 10p at 180.7 as Virgin and JC Flowers may be joined by Cerberus in the race. It is reported that Cerberus may use its 51% stake in GMAC ready to help with any bid on Northern Rock.
Royal Bank of Scotland was also lower, down 4.5p at 503, with brokers marking it as a 'sell' and 450p target. This is nearly half the previous buy recommendation of an 800p target. Contrast in views, now, then...?
Cairn Energy, a mid-cap favourite, also had bad talk by brokers dowing the rounds as it fell 30p to 2,433.
AUDUSD still strong...
The AUDUSD still looks very strong, even though it has been extremely overbought... Be patient as there has to be a retracement before it continues upwards. On wednesday last week we saw the cross above the 200MA and a green conductor alerted us to this reversal. The AUDUSD is now 250 points higher!!!
FTSE Bounces off 6,500
The FTSE has risen consistently since wednesday last week. The Green conductor alerted us to the move on the 25th Oct and if you had held the position from wednesday to friday you would be sitting here 200 points in profit. There is an old high at 6,750 so there will be obvious resistance at this level. Look for a breakout at some point this week with a move to the all time high at 6,921...
DOW Rallies 134 points on Friday...
The DOW Jones rallied 134 point on Friday. The Green conductor appeared on the Daily chart on Thursday and on friday at 5.15pm the Green conductor confirmed the reversal, leading the move from 13,700 to over 13,800...
Remember to always look at the Daily chart for the overall trend!!!
Remember to always look at the Daily chart for the overall trend!!!
Friday, 26 October 2007
Market Wrap, Friday 26th October 2007, 7pm
The FTSE closed up a healthy 85 points higher at 6,661.3, 20-odd points short of the day's high of 6,684. The low of the day was 6,567, but the charts screamed a long trade when it was down there (check out the previous post). The FTSE 250 was a shade over 29 points up at 11,509.6.
At the time of the London close New York was still up, with the DJI up about 53 points at 13,725. The Nasdaq was up 37 points at 2,788 and the SandP 500 was up 12 points at 1,526. Those that matter in New York reckon the Feds will cut interest rates soon, so to help the ailing US housing market.
Back in London, Kingfisher was leading the pack, up 7% or 12.2p at 185.3 on bid rumours.the top riser, up 12.2 over 7 pct at 185.3 on vague bid rumours.
Northern Rock was there again, up 3.2p at 190.7, as JC Flowers moved in for the kill. It even gave news of the team it had put in place to handle its new acquisition, if it comes off.
Standard Chartered up 84p at 1,805 as Singapore's Temasek Holdings continued to buy and rumours of the Bank of China could be sniffing around with some cash for the bank, which does have heavy presense in Asia.
Resolution was up 17p to 726.5 on news of the UK insurer Pearl Group revealed an updated and improved takeover bid for the firm, which may scupper an already in-the-bag deal from Standard Life. This one could become full-scale bidding war. Hold on to your hat.
The miners were all happy. Xstrata led the heavyweights, up 187p at 3,528, with Anto up 31.5p to 849.5 and Rio up 182p at 4,417, with M and A speculation and heavyweights taking over heavyweights being banted around.
BP took on 16.5p to 629 mainly due to the firm oil prices and news it is setting aside US$373m to quieten the US authorities on a few points (see thismorning's post). Royal Dutch Shell added 62p, finishing up at 2,121.
One of today's fallers was Sainsbury's, who fell 18.5p to 565.5 as the middle eastern bid was starting to look a little shakey, as the Delta Two group looked fora higher percentage of the supermarket chain. Both sides to the deal quickly announced that they had agreed that it was in the best interests of all parties and shareholders to sort it out sooner rather than later. WM Morrison also fell back nearly 5p in sympathy, it seems, finsihing just shy of 298p.
AstraZeneca was down 25p at 2,375 as fears of some not-so-good 3rd quarter results may be announced next week. The firm's profits are expected to be down due to the heavy internal costs of restructuring, even though sales have been very bouyant - up about 10%. Glaxo felt it should also fall back and was down 8p at 1,232 by the bell.
Other news was a negative broker comment on BAE Systems caused the stock price to fall down to 503p on the day, 12p lower than yesterday's close.
At the time of the London close New York was still up, with the DJI up about 53 points at 13,725. The Nasdaq was up 37 points at 2,788 and the SandP 500 was up 12 points at 1,526. Those that matter in New York reckon the Feds will cut interest rates soon, so to help the ailing US housing market.
Back in London, Kingfisher was leading the pack, up 7% or 12.2p at 185.3 on bid rumours.the top riser, up 12.2 over 7 pct at 185.3 on vague bid rumours.
Northern Rock was there again, up 3.2p at 190.7, as JC Flowers moved in for the kill. It even gave news of the team it had put in place to handle its new acquisition, if it comes off.
Standard Chartered up 84p at 1,805 as Singapore's Temasek Holdings continued to buy and rumours of the Bank of China could be sniffing around with some cash for the bank, which does have heavy presense in Asia.
Resolution was up 17p to 726.5 on news of the UK insurer Pearl Group revealed an updated and improved takeover bid for the firm, which may scupper an already in-the-bag deal from Standard Life. This one could become full-scale bidding war. Hold on to your hat.
The miners were all happy. Xstrata led the heavyweights, up 187p at 3,528, with Anto up 31.5p to 849.5 and Rio up 182p at 4,417, with M and A speculation and heavyweights taking over heavyweights being banted around.
BP took on 16.5p to 629 mainly due to the firm oil prices and news it is setting aside US$373m to quieten the US authorities on a few points (see thismorning's post). Royal Dutch Shell added 62p, finishing up at 2,121.
One of today's fallers was Sainsbury's, who fell 18.5p to 565.5 as the middle eastern bid was starting to look a little shakey, as the Delta Two group looked fora higher percentage of the supermarket chain. Both sides to the deal quickly announced that they had agreed that it was in the best interests of all parties and shareholders to sort it out sooner rather than later. WM Morrison also fell back nearly 5p in sympathy, it seems, finsihing just shy of 298p.
AstraZeneca was down 25p at 2,375 as fears of some not-so-good 3rd quarter results may be announced next week. The firm's profits are expected to be down due to the heavy internal costs of restructuring, even though sales have been very bouyant - up about 10%. Glaxo felt it should also fall back and was down 8p at 1,232 by the bell.
Other news was a negative broker comment on BAE Systems caused the stock price to fall down to 503p on the day, 12p lower than yesterday's close.
FTSE - Rises 100 Points
This morning i showed you the breakout of the downtrend and today was always going to show a positive upturn. The Dow is expected to open strongly, so enjoy the friday afternoon of trading...
GBPJPY - 100 Point move this morning
GBPJPY saw a Doji candle at 7.00am this morning which indicates a potential reversal. The conductors turned red at 9.00am and a lovely short trade back through 235.00 with no stress...
Morning Market, Friday 26th October 2007, 10am
The FTSE gapped up 15 points this morning and carried on up to 6,605 in the first 15 minutes of trading this morning. By 10am we were back at 6,570, where it looks like we'll be settling down for now. In the US last night the Dow had a fairly late run back up from a session low of 13,548 up to a close of 13,671, thus giving London something to be pleased about. The Dow had been up and down, unsure of a direction, during the day.
Light Swett Crude was up 42cents at $90.88 BBL.
The miners were leading the board this morning, with Xstrata up 85p at 3,426, RIO up 82p at 4,316, Vedanta up 32p at 2,148, BHP up 20p at 1,817, ANTO up 7p at 823, Anglo up 21p at 3,181 and Kazakhmys up 10p at 1,434.
Northern Rock was being mentioned again (stop yawning) as JC Flowers was apparnelty almost there at the finish line in the bidding stakes, it was rumoured.
BP was up 8p at 619.5 after saying it was setting aside a few million dollars for cleaning up some federal issues, like the price fixing claim and a refinarty incident that needs sorting.
The other end of the leader board, i.e.- the bottom, we saw Sainsbury's down 2.75% on poor feeling on the potential middle east bid, with Morrison's falling in sympathy 2% as well.
The builders were also poor, with Taylor Wimpey down 6p at 237.25 and Barratts down 9.5p at 641.5.
Light Swett Crude was up 42cents at $90.88 BBL.
The miners were leading the board this morning, with Xstrata up 85p at 3,426, RIO up 82p at 4,316, Vedanta up 32p at 2,148, BHP up 20p at 1,817, ANTO up 7p at 823, Anglo up 21p at 3,181 and Kazakhmys up 10p at 1,434.
Northern Rock was being mentioned again (stop yawning) as JC Flowers was apparnelty almost there at the finish line in the bidding stakes, it was rumoured.
BP was up 8p at 619.5 after saying it was setting aside a few million dollars for cleaning up some federal issues, like the price fixing claim and a refinarty incident that needs sorting.
The other end of the leader board, i.e.- the bottom, we saw Sainsbury's down 2.75% on poor feeling on the potential middle east bid, with Morrison's falling in sympathy 2% as well.
The builders were also poor, with Taylor Wimpey down 6p at 237.25 and Barratts down 9.5p at 641.5.
NZD USD looking strong...
The NZDUSD has bounced off it's 200MA after a perfect hammer candle on the 22nd October. The hourly gave us the perfect buying opportunity on monday with a double bottom and as it crossed above the 50MA the reversal was set from 0.7400. We are now sitting above the 200MA, 250 points higher...Always look at the Daily for the trend and then look for an entry point on the 60 minute...
FTSE Momentum...
The FTSE has gathered good momentum off the 6,400 support level. The Daily chart shows the trend changing and as you can see from the 60 minute chart, the Retracement Indicator's told us perfectly when to enter the trade on monday. That's nearly 200 points in under a week... The FTSE has now broken out of the resistance line and should hold the 200 MA as a support level on the 60min chart...
Thursday, 25 October 2007
Market Wrap, Thursday 25th October 2007, 7pm
The FTSE was up today, pasting over previous session's losses with a 94.3 point rise on the day, finishing at 6,576.3. This was down from an intra-day high of 6,587.6, but in contrast to the low of 6,482, which it left in its wake. The FTSE 250 was 202 points higher at 11,480.5 on fairly strong volume. Not a bad session.
By the time London closed the US was fairly even, even though US house sales figures showed a more than healthy 4.8% rise in the annual figure for September. Weaker than expected employment was in contrast, given a neutral stance by tea time in London.
In the UK we had the telecoms sector haviong a very happy day, mainly due to Orange mobile of France giving some upbeat numbers amongst takeover rumours from Vodafone and Carphone Warehouse. Vodafone was up a massive 11.5p to 189.7, which is the highest it's been since Xmas 2001, as the company's cashflow, world prospects and upgrades from JP Morgan all helped bouy the telecom leader.
Carphone Warehouse, linked with an Orange bid, also jumped 13p to just shy of 350p, and were joined by Cable and Wireless who were up just over 5p at 191.7.
As mentioned this morning, Reuters was having a nice day after its 3rd quarter figures were strong. They finished up 15.5p at 654 on news of a 7.6% rise in its last 3 months' revenue.
The heaveyweight miners were up strongly, also on bid talks, with BHP up 57p at 1,798 and RIO up 147p at 4,235 on rumours of a BHP bid for Rio Tinto was a possibility. ANTO was up 21p at 818, Anglo up 109p at 3,163, Lonmin up 88p at 3,338 and Vedanta was up 53p at 2,116 in support.
Alliance and Leicester fell today, down 22.5p at 729.5 as investors decided to move their cash into Bradford and Bingley (up 16p at 296.75) after their clever, 'we're ok over here' statement yesterday.
As we informed you this morning, easyjet was up on news of an agreement to takeover GB Airways, finishing the day up 39.5p at 622. That was 6% on the day.
By the time London closed the US was fairly even, even though US house sales figures showed a more than healthy 4.8% rise in the annual figure for September. Weaker than expected employment was in contrast, given a neutral stance by tea time in London.
In the UK we had the telecoms sector haviong a very happy day, mainly due to Orange mobile of France giving some upbeat numbers amongst takeover rumours from Vodafone and Carphone Warehouse. Vodafone was up a massive 11.5p to 189.7, which is the highest it's been since Xmas 2001, as the company's cashflow, world prospects and upgrades from JP Morgan all helped bouy the telecom leader.
Carphone Warehouse, linked with an Orange bid, also jumped 13p to just shy of 350p, and were joined by Cable and Wireless who were up just over 5p at 191.7.
As mentioned this morning, Reuters was having a nice day after its 3rd quarter figures were strong. They finished up 15.5p at 654 on news of a 7.6% rise in its last 3 months' revenue.
The heaveyweight miners were up strongly, also on bid talks, with BHP up 57p at 1,798 and RIO up 147p at 4,235 on rumours of a BHP bid for Rio Tinto was a possibility. ANTO was up 21p at 818, Anglo up 109p at 3,163, Lonmin up 88p at 3,338 and Vedanta was up 53p at 2,116 in support.
Alliance and Leicester fell today, down 22.5p at 729.5 as investors decided to move their cash into Bradford and Bingley (up 16p at 296.75) after their clever, 'we're ok over here' statement yesterday.
As we informed you this morning, easyjet was up on news of an agreement to takeover GB Airways, finishing the day up 39.5p at 622. That was 6% on the day.
Morning Market, Thursday 25th October 2007, 10am
The FTSE was up, early doors, a jerk reaction to yesterday's poor day in UK and the rise over the pond in US last night, we feel.
At 10am, as we are typing, the FTSE is at 6,546, up about 65 points on the day. Volume is quite firm so far.
Last night the DJI ended up just about even on the day after a poor show early on after Merrill's negative statement. The US recovered on hopes of an imminent interest rate cut, which we will hear about next week. The SandP 500 fell a little (3.71 to 1,515.88) and the Nadaq was down (24.5 at 2,774.76).
Over night oil prices were traded higher in the Far East on the news that US energy stockpiles fell sharply last week, and also the last week's bombing by Turks on the Kurds just added to the tension. New York's main oil futures contract, light sweet crude for delivery in December, was 85 cents higher at USD 87.95 BBL. Brent North Sea crude for December was up 73 cents at USD 85.10 BBL.
Oil is a key focus today, with Royal Dutch Shell up 20p at 2,075.5 following decent 3rd quarter results. Shell reported earnings for the three months to September of USD 6.4 bln on an adjusted current cost of supply basis, up from USD 6.9 bln for the previous quarter.
Aviva soared up nearly 3% (20.5p) to 724.5 after the UK's biggest insurer said nine-month life and pension sales rose 21% to GBP 23 bln, with European growth better than UK, which was slowing. The figure beat analysts expectations of STG 22.7 bln.
Reuters took on 8.5p to 646-1/4 ahead of today's trading statement, with 3rd quarter sales forecast up due to Chinese expansion. Average consensus figures from six analysts provided by the company forecast revenue in the three months to 30th Sep of STG 645 mln, up from STG 631 mln last time.
Vodafone also had a good start, up 6p to 184.2, after good 3rd quarter results from France Telecom and JP Morgan's upgrade yesterday.
Cable & Wireless joined in as well - up 4p pence at 190.6.
Miners were up, with more chat about a monster bid for RIO from BHP. RIO was up 110p at 4,198 and BHP were up 32p at 1,773 as a reaction. Vedanta and Kazakhmys followed suit, up 47p to 2,110 and 42p to 1,419 resepectively.
Lonmin didn't do so well after posting full year results that were dissapointing. They were down 13p at 3,237. Lonmin, the world's third-biggest platinum producer, said full-year platinum sales fell 16%, in line with its updated forecast in August.
GlaxoSmithKline fell 20p to 1,229, continuing yesterday's fall following the pharmaceutical group's 3rd quarter results. HSBC to cut its target to 1,180p from 1,220.
easyJet soared, up nearly 3% (16.5p) at 599, after the low-cost carrier announced that it had agreed to acquire GB Airways for £103.5m cash. A suprise, that one. They don't get the lucrative Heathrow slots, though. The low-cost, orange coloured carrier said the acquisition would beef up its strength and accelerate growth due to all the extra slots at Gatwick, GB Airways main operating airport.
PartyGaming was also up a little (1p) at 28.5 after the firm informed us all that its net revenue was up 24%.
At 10am, as we are typing, the FTSE is at 6,546, up about 65 points on the day. Volume is quite firm so far.
Last night the DJI ended up just about even on the day after a poor show early on after Merrill's negative statement. The US recovered on hopes of an imminent interest rate cut, which we will hear about next week. The SandP 500 fell a little (3.71 to 1,515.88) and the Nadaq was down (24.5 at 2,774.76).
Over night oil prices were traded higher in the Far East on the news that US energy stockpiles fell sharply last week, and also the last week's bombing by Turks on the Kurds just added to the tension. New York's main oil futures contract, light sweet crude for delivery in December, was 85 cents higher at USD 87.95 BBL. Brent North Sea crude for December was up 73 cents at USD 85.10 BBL.
Oil is a key focus today, with Royal Dutch Shell up 20p at 2,075.5 following decent 3rd quarter results. Shell reported earnings for the three months to September of USD 6.4 bln on an adjusted current cost of supply basis, up from USD 6.9 bln for the previous quarter.
Aviva soared up nearly 3% (20.5p) to 724.5 after the UK's biggest insurer said nine-month life and pension sales rose 21% to GBP 23 bln, with European growth better than UK, which was slowing. The figure beat analysts expectations of STG 22.7 bln.
Reuters took on 8.5p to 646-1/4 ahead of today's trading statement, with 3rd quarter sales forecast up due to Chinese expansion. Average consensus figures from six analysts provided by the company forecast revenue in the three months to 30th Sep of STG 645 mln, up from STG 631 mln last time.
Vodafone also had a good start, up 6p to 184.2, after good 3rd quarter results from France Telecom and JP Morgan's upgrade yesterday.
Cable & Wireless joined in as well - up 4p pence at 190.6.
Miners were up, with more chat about a monster bid for RIO from BHP. RIO was up 110p at 4,198 and BHP were up 32p at 1,773 as a reaction. Vedanta and Kazakhmys followed suit, up 47p to 2,110 and 42p to 1,419 resepectively.
Lonmin didn't do so well after posting full year results that were dissapointing. They were down 13p at 3,237. Lonmin, the world's third-biggest platinum producer, said full-year platinum sales fell 16%, in line with its updated forecast in August.
GlaxoSmithKline fell 20p to 1,229, continuing yesterday's fall following the pharmaceutical group's 3rd quarter results. HSBC to cut its target to 1,180p from 1,220.
easyJet soared, up nearly 3% (16.5p) at 599, after the low-cost carrier announced that it had agreed to acquire GB Airways for £103.5m cash. A suprise, that one. They don't get the lucrative Heathrow slots, though. The low-cost, orange coloured carrier said the acquisition would beef up its strength and accelerate growth due to all the extra slots at Gatwick, GB Airways main operating airport.
PartyGaming was also up a little (1p) at 28.5 after the firm informed us all that its net revenue was up 24%.
GBPJPY and Dow Jones
Good morning...Its been a quiet 24 hours. GBPUSD keeps trying to attack the 2.0500 level but with it being so over bought it doesn't seem to have the strength at this moment to make that final push. You often see this consolidation before the next move...
GBPJPY saw a nice breakout today on the 60 minute chart. The conductor came in at 7am this morning and broke out at 233.40 for a quick 90 points...
Yesterday saw the Dow push back to the top of the Channel at 13,700. The conductor appeared at 7.30pm our time and had a late 175 point rally from 13,500. This was a double bottom formation with a higher low, which is a keen signal for a change in direction. Should be an interesting day ahead, with a possible break above this level or will we see a fall back down again!!! Be patient and wait for the move...
GBPJPY saw a nice breakout today on the 60 minute chart. The conductor came in at 7am this morning and broke out at 233.40 for a quick 90 points...
Yesterday saw the Dow push back to the top of the Channel at 13,700. The conductor appeared at 7.30pm our time and had a late 175 point rally from 13,500. This was a double bottom formation with a higher low, which is a keen signal for a change in direction. Should be an interesting day ahead, with a possible break above this level or will we see a fall back down again!!! Be patient and wait for the move...
Wednesday, 24 October 2007
Market Wrap, Wednesday, 24th October 2007, 8pm
The FTSE finished the day at 6,482. down 32 points on the day. The US also had a poor run during its morning, plummeting in early deals. By London's close the DJI was off some 147 points at 13,529.
The Pharmas were down today, with Glaxo off 11p at 1,248.5 as it announced its 3rd quarter priifts were down, and AstraZeneca was also down , finishing at 2,408.5 (down 49p) at Merrill Lynch downgraded the firm on EPS forecasts.
The miners reversed their quick fightback yesterday and fell with the rest - amongst the fallers were BHP ending 64p down at 1,741 and Kazakhmys down 108p at 1,377.
Rolls Royce were up 13p at 546 on the back of BAE Systems rumours of a major saudi fighter deal in the pipeline. BAE were up 16.5p at 507 on the whispers.
The rumoured BP bid for Cairn was still string as the oil group finished up 144p at 2,413 - still short of the supposed 28-quid bid from BP that's been banted around.
The Pharmas were down today, with Glaxo off 11p at 1,248.5 as it announced its 3rd quarter priifts were down, and AstraZeneca was also down , finishing at 2,408.5 (down 49p) at Merrill Lynch downgraded the firm on EPS forecasts.
The miners reversed their quick fightback yesterday and fell with the rest - amongst the fallers were BHP ending 64p down at 1,741 and Kazakhmys down 108p at 1,377.
Rolls Royce were up 13p at 546 on the back of BAE Systems rumours of a major saudi fighter deal in the pipeline. BAE were up 16.5p at 507 on the whispers.
The rumoured BP bid for Cairn was still string as the oil group finished up 144p at 2,413 - still short of the supposed 28-quid bid from BP that's been banted around.
DOW and FTSE continue down trend
The Dow and the FTSE have continued their down turn today with the Dow already down 150 points today. You can see from the Dow chart below that it fell through it's support line and with the CCI falling into the negative the DOW collapsed.
The FTSE followed this morning with a Double top formation below the 200MA and ended up 32 points down for the day. Remember to always trade the conductors with the Trend!!!
Otherwise its been a very quiet day in the FX market...
The FTSE followed this morning with a Double top formation below the 200MA and ended up 32 points down for the day. Remember to always trade the conductors with the Trend!!!
Otherwise its been a very quiet day in the FX market...
Market Wrap, Tues 23rd October 2007, 8pm
After having a decent start and suprising most of us the FTSE still closed up at 6,514, some 54.7 points higher, but off the high of the day. Housebuilders and miners both did well.
The US, though, was fairly neutral on news from Wal Mart. Wal Mart said its growth forecasts were up, above expectations, but analysts would have prefeered some cut back on expansion and some better quality products instead. By the time London closed the US was just about even, although it had risen some 90 points early doors.
Back to London, where the miners were singing with BHP leading the way with decent news on its production. This in contrast to RIO's downbeat statement last week. BHP ended up 41p at 1,805, while ANTO was up 37.5p at 818. Vedanta was up 96p at 2,150 and RIO reversed some of its recent fall with a 115p push up to 4,165.
The big housebuilders also helped the market, taking some of the help from the US house index rise yesterday. Persimmon, who announced share buy-backs today, took on 39p to 988, while Barratts added 18.5p at 672, and Taylor Wimpey added 3p to 243.
Banks did ok, helped by yesterday's Bradford and Bingley news, with healthy rises in general. Bradford and Bingley was up 24.5p to 278.5, Alliance and Leicester was up 23p at 750.5, HBOS adding 18p at 843.5, and Northern Rock up nearly 5p at 189.75.
Other financial news was Prudential's 14.5p rise to 744.5 after the their report of a better than expected 15% increase in nine-month sales.
Negatives of the day were Tesco, down just over 10p at 453.75 and Vodafone down 2.1p, after the rather large (2.7%) gain yesterday, finishing today at 177.6.
One to also mention is Cairn Energy, where rumours of a 28-quid bid from BP were banted around. BP were up 7p at 612 by the close, after the oil group's Q3 numbers impressed investors.
Meanwhile, Inchcape shares were also up the top of the leader board with a 29.5p rise to 476.75 after an upbeat trading update.
The US, though, was fairly neutral on news from Wal Mart. Wal Mart said its growth forecasts were up, above expectations, but analysts would have prefeered some cut back on expansion and some better quality products instead. By the time London closed the US was just about even, although it had risen some 90 points early doors.
Back to London, where the miners were singing with BHP leading the way with decent news on its production. This in contrast to RIO's downbeat statement last week. BHP ended up 41p at 1,805, while ANTO was up 37.5p at 818. Vedanta was up 96p at 2,150 and RIO reversed some of its recent fall with a 115p push up to 4,165.
The big housebuilders also helped the market, taking some of the help from the US house index rise yesterday. Persimmon, who announced share buy-backs today, took on 39p to 988, while Barratts added 18.5p at 672, and Taylor Wimpey added 3p to 243.
Banks did ok, helped by yesterday's Bradford and Bingley news, with healthy rises in general. Bradford and Bingley was up 24.5p to 278.5, Alliance and Leicester was up 23p at 750.5, HBOS adding 18p at 843.5, and Northern Rock up nearly 5p at 189.75.
Other financial news was Prudential's 14.5p rise to 744.5 after the their report of a better than expected 15% increase in nine-month sales.
Negatives of the day were Tesco, down just over 10p at 453.75 and Vodafone down 2.1p, after the rather large (2.7%) gain yesterday, finishing today at 177.6.
One to also mention is Cairn Energy, where rumours of a 28-quid bid from BP were banted around. BP were up 7p at 612 by the close, after the oil group's Q3 numbers impressed investors.
Meanwhile, Inchcape shares were also up the top of the leader board with a 29.5p rise to 476.75 after an upbeat trading update.
Tuesday, 23 October 2007
Morning Market, Tuesday 23rd October 9am
The FTSE pushed up in early trading after the US late rally last night. By 9am it was up over 50 points with more volume than yesterday.
The DJI did a 100point reversal after being down 40points before their lunch but finishing up on the day about 45 points higher. The close was at 13,567, a bit of an unexpected bounce, to say the least, especially after the 300 point fall on Friday.
Meanwhile world oil prices slipped further in Asia on Tuesday as worries over slowing economic growth in the US shadowed the market. New York's main oil futures contract, light sweet crude for delivery in December, was 26 cents lower at 85.76 US dollars a barrel in late morning trade.
Back in London, the mining heavyweights were the main advance, reacting to recent falls with a gusto. This morning we heard about production news from BHP Billiton and positive news on Chinese growth. BHP issued its Q1 production report overnight in Sydney. The world's largest diversified resources group said output at its iron ore mines in Western Australia and at key coal projects in Australia and Colombia reached record levels in the first quarter to September. The company said strong demand underpinned the record production as capacity was increased. In reaction, BHP shares added 29p at 1,793, while Anto was up 25.5p at 806, Vedanta gained 41p at 2,095, and Rio Tinto was up 92p at 4,142.
The builders moved higher benefiting from yesterday's 6.7 pct rise in the US Homebuilders Index, which was led by Beazer Homes. Persimmon, which also announced share buy-backs today, took on 41p at 990, while Barratt Development added 18.5p at 672 and Taylor Wimpey was up just over 6p at 246.25.
Btter news also fuelled the banks, with FTSE 250 Bradford and Bingley reasssuring their investors all was well and they were well-placed to deal with the recent credit crunch. Shares in Bradford & Bingley topped the FTSE 250 risers board, up 24.5p to 278.5 after yesterday afternoon's investor presentation went some way to dispel fears that it could face similar funding problems as rival Northern Rock. A summary is that B&B had raised STG 1.8 bln during the last month or so through private placements and medium term notes and it has further, similar issues planned.
The reassuring news provided support for other mortgage banks, with Alliance & Leicester gaining 26.5p pence at 754, HBOS adding 18.5p at 844, and Northern Rock firming 8p.
Back to oil - BP added a penny at 606 after the oil & gas giant reported a better than expected set of third quarter earnings with the performance in Refining & Marketing cheered by investors. BP reported a replacement cost net profit of USD 4.2 bln, down from USD 5.75 bln previously. Production fell 4 pct to 3.651 mln bbl of oil equivalent per day but BP still expects volumes for the year to reach 3.8-3.9 mln boepd, in line with its guidance.
Other oil majors, however, featured among the handful of blue chip losers early on, with BG Group down 7p at 856 and Royal Dutch Shell off 10p at 2,011 reflecting a retreat from record highs by crude prices and with their third quarter results also due soon.
And BAT shares also fell back, down 9p at 1,776 as Lehman Brothers repeated its 'underweight' status, albeit while raising its price target to 1,490p from 1,475, ahead of the tobacco firm's Q3 results due on 1st November.
The DJI did a 100point reversal after being down 40points before their lunch but finishing up on the day about 45 points higher. The close was at 13,567, a bit of an unexpected bounce, to say the least, especially after the 300 point fall on Friday.
Meanwhile world oil prices slipped further in Asia on Tuesday as worries over slowing economic growth in the US shadowed the market. New York's main oil futures contract, light sweet crude for delivery in December, was 26 cents lower at 85.76 US dollars a barrel in late morning trade.
Back in London, the mining heavyweights were the main advance, reacting to recent falls with a gusto. This morning we heard about production news from BHP Billiton and positive news on Chinese growth. BHP issued its Q1 production report overnight in Sydney. The world's largest diversified resources group said output at its iron ore mines in Western Australia and at key coal projects in Australia and Colombia reached record levels in the first quarter to September. The company said strong demand underpinned the record production as capacity was increased. In reaction, BHP shares added 29p at 1,793, while Anto was up 25.5p at 806, Vedanta gained 41p at 2,095, and Rio Tinto was up 92p at 4,142.
The builders moved higher benefiting from yesterday's 6.7 pct rise in the US Homebuilders Index, which was led by Beazer Homes. Persimmon, which also announced share buy-backs today, took on 41p at 990, while Barratt Development added 18.5p at 672 and Taylor Wimpey was up just over 6p at 246.25.
Btter news also fuelled the banks, with FTSE 250 Bradford and Bingley reasssuring their investors all was well and they were well-placed to deal with the recent credit crunch. Shares in Bradford & Bingley topped the FTSE 250 risers board, up 24.5p to 278.5 after yesterday afternoon's investor presentation went some way to dispel fears that it could face similar funding problems as rival Northern Rock. A summary is that B&B had raised STG 1.8 bln during the last month or so through private placements and medium term notes and it has further, similar issues planned.
The reassuring news provided support for other mortgage banks, with Alliance & Leicester gaining 26.5p pence at 754, HBOS adding 18.5p at 844, and Northern Rock firming 8p.
Back to oil - BP added a penny at 606 after the oil & gas giant reported a better than expected set of third quarter earnings with the performance in Refining & Marketing cheered by investors. BP reported a replacement cost net profit of USD 4.2 bln, down from USD 5.75 bln previously. Production fell 4 pct to 3.651 mln bbl of oil equivalent per day but BP still expects volumes for the year to reach 3.8-3.9 mln boepd, in line with its guidance.
Other oil majors, however, featured among the handful of blue chip losers early on, with BG Group down 7p at 856 and Royal Dutch Shell off 10p at 2,011 reflecting a retreat from record highs by crude prices and with their third quarter results also due soon.
And BAT shares also fell back, down 9p at 1,776 as Lehman Brothers repeated its 'underweight' status, albeit while raising its price target to 1,490p from 1,475, ahead of the tobacco firm's Q3 results due on 1st November.
DOW Bounces off 13,400
The DOW bounced strongly yesterday off 13,400. After last weeks aggressive selling and falling from above 14,000, the DOW was potentially going to find support at this psychological level. It bounced off it twice, showing its strength and then rallied back up 156 points to 13,566...
The next few days promise to be interesting and today, with a strong open, may see a pull back towards the resistance level at 13,800 level...
The next few days promise to be interesting and today, with a strong open, may see a pull back towards the resistance level at 13,800 level...
USDCAD Retracement off old resistance level...
The USDCAD had an excellent breakout play yesterday for a 120 point move. The old high from wednesday 17th, at 0.9825, was always going to be hard to break and we have seen it fall back 100 points to 0.9720...
Remember to watch the market conductors and see how they slow down and level off before they change direction...
Remember to watch the market conductors and see how they slow down and level off before they change direction...
GBP Open Channel
Cable has seen a bounce off its old support level at 2.0275. The Open Channel alerted us to this and we have seen a 175 point rise since yesterday afternoon...
FTSE Retracement Pre Alerts
The Ftse retracement indicators picked our trade perfectly over the last 24 hours. The old support level of 6,400 held firm and we are now sitting 144 points higher.
Market Wrap, Monday 22nd Octber 2007, 9pm
After a scare this morning, London shares closed weaker but well off the low of the day. New York trimmed losses once open.
Leading shares did close weaker again (that's 5 days from the last 6), with the heavyweight mining sector taking a a thumping, but a relatively mild fall on Wall Street helped ensure that the FTSE 100 finished well off session lows.
At the close, the FTSE 100 index was 68.6 points lower at 6,459.3, off the session low of 6,413.4. The index was in negative territory the whole day. The FTSE 250 index ended the day down 121.4 points at 11,177.9. Volume was fairly poor, with 2.23 bln shares having changed hands in 640,418 deals.
In the US, the Dow Jones Industrial Average, which lost 4 pct last week, was down as much as 114 points a few minutes after trading started. As the London markets closed, however, it was about 60 points lower at 13,462.
The US is seeing investors move cash elsewhere, concerned about the ongoing credit worries and housing crisis.
Some analysts are calling the last week or so a correction, and say that the FTSE may turn up again later this week.
In US the Pharma firm Merck & Co. helped ease some pain by posting a 62 pct increase in its third-quarter profit, as its revenues increased by double digits, while lower admin and overhead costs offset the higher spend on research and development. The maker of osteoporosis treatment Fosamax and Singulair for asthma and allergies reported net income of USD 1.53 bln for the three months to September, up from 940.6 mln a year earlier. The results were slightly ahead of expectations.
In London, the miners pulled down the FTSE 100 lower against a background of falling commodity prices and negative broker comment from Citigroup, which we mentioned this morning, who cut five miners to 'hold' from 'buy' on valuation grounds following the shares' strong rally since August. The five downgraded shares all closed lower: Anglo-American, 154p lower at 3,046; BHP, down 71p at 1,764, Kazakhmys, 79p at 1,455, Rio Tinto, down 156p at 4,050, and Vedanta Resources, 109p down at 2,054.
Banks were also under the cosh, after Credit Suisse told clients to avoid the sector, citing the deterioration of the UK housing market. Lloyds TSB, which the broker cut to 'neutral' from 'outperform', fell 6.5p to 530. Alliance & Leicester, which Credit Suisse rated 'underperform', was 7.55p off at 727.5, and HBOS, which it kept as 'neutral' while cutting its target to 1,025p from 1,080, dropped 9.5p to 825.5.
But British Energy, down 47p, or 8.1%, at 532, was the biggest FTSE 100 faller. As mentioned earlier, the company said the start-up of its Hartlepool 1 Reactor has been delayed due to complications during a planned inspection of its boiler units. As a precaution, the company has also closed sister units at Hartlepool and Heysham, with four units down in total.
Also on the back foot was J Sainsbury, off 4.5p pence at 577.5, as doubts grow about the ability of Delta Two to fund its STG10.6 bln planned takeover of the supermarkets group. Most investors had expected an announcement last week giving final details, but the delay has helped fuel rumours that Delta Two may have to pull out.
Tullow Oil fell 36p to close at 585p, suffering as oil prices continued their retreat from last week's record highs and from UBS cutting its rating on the company to 'sell' from 'neutral', mostly on valuation grounds.
The same broker cut BG Group to 'neutral' from buy', again on valuation grounds. BG shares ended the day 16.5p lower at 863. BP, which unveils third-quarter results tomorrow, finished 6p lower at 605.
Only 19 FTSE 100 companies ended the day in positive territory. Index heavyweight Vodafone closed in top spot, up 4.7p at 179.7, as its share buyback programme continues. Sort of falsely supported, one might say. Traders said Vodafone's rise was partly a flight to quality, on the grounds sizeable telecoms won't be hurt too much in the turmoil. Some also pointed to an increasingly positive perception of its joint venture in India. There is also the feeling that chief executive Arun Sarin may sell the 46 pct stake in Verizon before he bows out, something he has been pressurised by institutional investors to do.
Financial Times owner Pearson was 11p ahead at 776, after lifting full-year guidance for its education segment as underlying sales across the group in the first nine months rose 6% and underlying profit lifted 20%.
Numis Securities also sees upside to its low end of the range full-year numbers and highlighted that Pearson has defensive qualities which may prove attractive in an uncertain environment. Numis retained its 'add'.
Cunard owner Carnival rose 36p to close at higher at 2,304, buoyed by results from rival Royal Caribbean Cruises that beat expectations.
Leading shares did close weaker again (that's 5 days from the last 6), with the heavyweight mining sector taking a a thumping, but a relatively mild fall on Wall Street helped ensure that the FTSE 100 finished well off session lows.
At the close, the FTSE 100 index was 68.6 points lower at 6,459.3, off the session low of 6,413.4. The index was in negative territory the whole day. The FTSE 250 index ended the day down 121.4 points at 11,177.9. Volume was fairly poor, with 2.23 bln shares having changed hands in 640,418 deals.
In the US, the Dow Jones Industrial Average, which lost 4 pct last week, was down as much as 114 points a few minutes after trading started. As the London markets closed, however, it was about 60 points lower at 13,462.
The US is seeing investors move cash elsewhere, concerned about the ongoing credit worries and housing crisis.
Some analysts are calling the last week or so a correction, and say that the FTSE may turn up again later this week.
In US the Pharma firm Merck & Co. helped ease some pain by posting a 62 pct increase in its third-quarter profit, as its revenues increased by double digits, while lower admin and overhead costs offset the higher spend on research and development. The maker of osteoporosis treatment Fosamax and Singulair for asthma and allergies reported net income of USD 1.53 bln for the three months to September, up from 940.6 mln a year earlier. The results were slightly ahead of expectations.
In London, the miners pulled down the FTSE 100 lower against a background of falling commodity prices and negative broker comment from Citigroup, which we mentioned this morning, who cut five miners to 'hold' from 'buy' on valuation grounds following the shares' strong rally since August. The five downgraded shares all closed lower: Anglo-American, 154p lower at 3,046; BHP, down 71p at 1,764, Kazakhmys, 79p at 1,455, Rio Tinto, down 156p at 4,050, and Vedanta Resources, 109p down at 2,054.
Banks were also under the cosh, after Credit Suisse told clients to avoid the sector, citing the deterioration of the UK housing market. Lloyds TSB, which the broker cut to 'neutral' from 'outperform', fell 6.5p to 530. Alliance & Leicester, which Credit Suisse rated 'underperform', was 7.55p off at 727.5, and HBOS, which it kept as 'neutral' while cutting its target to 1,025p from 1,080, dropped 9.5p to 825.5.
But British Energy, down 47p, or 8.1%, at 532, was the biggest FTSE 100 faller. As mentioned earlier, the company said the start-up of its Hartlepool 1 Reactor has been delayed due to complications during a planned inspection of its boiler units. As a precaution, the company has also closed sister units at Hartlepool and Heysham, with four units down in total.
Also on the back foot was J Sainsbury, off 4.5p pence at 577.5, as doubts grow about the ability of Delta Two to fund its STG10.6 bln planned takeover of the supermarkets group. Most investors had expected an announcement last week giving final details, but the delay has helped fuel rumours that Delta Two may have to pull out.
Tullow Oil fell 36p to close at 585p, suffering as oil prices continued their retreat from last week's record highs and from UBS cutting its rating on the company to 'sell' from 'neutral', mostly on valuation grounds.
The same broker cut BG Group to 'neutral' from buy', again on valuation grounds. BG shares ended the day 16.5p lower at 863. BP, which unveils third-quarter results tomorrow, finished 6p lower at 605.
Only 19 FTSE 100 companies ended the day in positive territory. Index heavyweight Vodafone closed in top spot, up 4.7p at 179.7, as its share buyback programme continues. Sort of falsely supported, one might say. Traders said Vodafone's rise was partly a flight to quality, on the grounds sizeable telecoms won't be hurt too much in the turmoil. Some also pointed to an increasingly positive perception of its joint venture in India. There is also the feeling that chief executive Arun Sarin may sell the 46 pct stake in Verizon before he bows out, something he has been pressurised by institutional investors to do.
Financial Times owner Pearson was 11p ahead at 776, after lifting full-year guidance for its education segment as underlying sales across the group in the first nine months rose 6% and underlying profit lifted 20%.
Numis Securities also sees upside to its low end of the range full-year numbers and highlighted that Pearson has defensive qualities which may prove attractive in an uncertain environment. Numis retained its 'add'.
Cunard owner Carnival rose 36p to close at higher at 2,304, buoyed by results from rival Royal Caribbean Cruises that beat expectations.
Monday, 22 October 2007
Morning Market, Monday 22nd October 2007, 9am
After the press at the weekend and early today one might be releaved at the actual fall back of the market not being as bad as one expected. Aftre the poor end to Friday's New York market one would have thought the drop could have required a parachute this morning, but London shares were down fairly sharply, but not freefall.
The heavyweight swere down early on following Friday's fairly hefty fall on Wall Street, with most sectors down on the realism settling in and being absorbed that the US economy, and the rising oil prices, together with weaker earnings by the US majors AND the US housing situation hit investors' confidence.
By 9am the FTSE was down over 92 points.
British Energy topped the list of fallers, down nearly 8 pct (57p) at 536 after saying its Hartlepool 1 Reactor start-up has been delayed due to complications during a planned inspection of its boiler units. The company added that it had also closed sister units at Hartlepool and Heysham with four units down in total.
The miners caused more down feeling over all after Citigroup gave the sector a dongrade to 'hold'. Among the fallers were: Kazakhmys (down 93p to 1,441), Vedanta (down 119 to 2,044), Xstrata (down 141p to 3,292) and RIO down 149p to 4,057.
UK banks were also following the miners. Credit Suisse told clients to avoid the sector completely, citing the state of the UK housing market, which will no doubt show on mortgages. We expect that Northern Rock's situation has dampened anything positive around the banks for a while. Barclays fell 16p to 573, Royal Bank of Scotland 12p to 498, Lloyds TSB fell 10p to 526 and Northern Rock fell 10 to 176, and the mid-cap Bradford & Bingley was off 15p at 243.
Let's face it, we've been waiting for this.
The heavyweight swere down early on following Friday's fairly hefty fall on Wall Street, with most sectors down on the realism settling in and being absorbed that the US economy, and the rising oil prices, together with weaker earnings by the US majors AND the US housing situation hit investors' confidence.
By 9am the FTSE was down over 92 points.
British Energy topped the list of fallers, down nearly 8 pct (57p) at 536 after saying its Hartlepool 1 Reactor start-up has been delayed due to complications during a planned inspection of its boiler units. The company added that it had also closed sister units at Hartlepool and Heysham with four units down in total.
The miners caused more down feeling over all after Citigroup gave the sector a dongrade to 'hold'. Among the fallers were: Kazakhmys (down 93p to 1,441), Vedanta (down 119 to 2,044), Xstrata (down 141p to 3,292) and RIO down 149p to 4,057.
UK banks were also following the miners. Credit Suisse told clients to avoid the sector completely, citing the state of the UK housing market, which will no doubt show on mortgages. We expect that Northern Rock's situation has dampened anything positive around the banks for a while. Barclays fell 16p to 573, Royal Bank of Scotland 12p to 498, Lloyds TSB fell 10p to 526 and Northern Rock fell 10 to 176, and the mid-cap Bradford & Bingley was off 15p at 243.
Let's face it, we've been waiting for this.
GBPJPY falls 450 points...
GBPJPY has fallen 450 points this am. The trend has been falling since the end of last week and when the red conductor came in at 07.00 this morning it gave us a great opportunity. Keep it simple and trade with the trend to maximise your profits.
Pay attention to the CCI as this also fell through the 0.00 level to confirm our short trade...
Pay attention to the CCI as this also fell through the 0.00 level to confirm our short trade...
USDCAD starts the week with a flyer...
USD CAD has seen a perfect breakout play, on this monday morning. The 200 MA was sitting on the 0.9700 level with orders above at 05/10 level. As soon as the currency broke out of the oversold triangle a large move was about to occur. So far we have seen over 100 points...
AUDUSD Fall....
Aud Usd has seen a similar pattern to the GBPUSD... Lower highs came in and as it retaced back up to the 0.8900 level it gave us a perfect entry pount for a down position... So far falling over 100 points...
GBPUSD Breaks 2.0500
GBPUSD had broken its uptrend and fallen through 2.0500. The red conductor assisted us at 07.15 this morning with a lower high and the candles broke the support line with a 130 point fall, so far...
Friday, 19 October 2007
Market Wrap, Friday 19th October 2007, 9pm
On the 20th anniversary of 'Black Monday' both London and New York gave us all a reminder that markets do still go down as well as up. The FTSE was down 81.5 points on the day, and the FTSE 250 was down 112.3 points to 11,299.30.
New York was down over 220 points at 13,666 when London closed shop for the weekend; not a good day over the pond, either.
The Northern Rock Chairman decided he should face the firing squad and resigned, under a bit of pressure, one might think. Northern Rock finished the session down 17.75p at 186.75 as investors didn't take the resignation news very positively. The rollercoaster continues.
The banks had a poor day, with HBOS down 25p at 835, HSBC down 19.5p at 923.5, Barclays down 13p at 589.5, and Alliance & Leicester was dwn 21p at 735.
Marks and Spencer was 15p lower at 610.5 after SG Securities downgraded it to a 'sell'.
Astra Zeneca was down 93p at 2,461 on the bad news on that patent that we mentioned this morning.
The builders did quite well, with Barratts up 8.5p at 667, Persimmon up 11p at 971 and Redrow up 11.25p at 383. There was a rumour being banted around that there may be a 500p bid for Redrow in the offering, somewhere. The builders look like they're all on the floor, at the moment. Some charts there worth looking at.
Bookies William Hill fell 12p to 609.5 as a broker game them a target of 475p. Not much confidence there, then.
New York was down over 220 points at 13,666 when London closed shop for the weekend; not a good day over the pond, either.
The Northern Rock Chairman decided he should face the firing squad and resigned, under a bit of pressure, one might think. Northern Rock finished the session down 17.75p at 186.75 as investors didn't take the resignation news very positively. The rollercoaster continues.
The banks had a poor day, with HBOS down 25p at 835, HSBC down 19.5p at 923.5, Barclays down 13p at 589.5, and Alliance & Leicester was dwn 21p at 735.
Marks and Spencer was 15p lower at 610.5 after SG Securities downgraded it to a 'sell'.
Astra Zeneca was down 93p at 2,461 on the bad news on that patent that we mentioned this morning.
The builders did quite well, with Barratts up 8.5p at 667, Persimmon up 11p at 971 and Redrow up 11.25p at 383. There was a rumour being banted around that there may be a 500p bid for Redrow in the offering, somewhere. The builders look like they're all on the floor, at the moment. Some charts there worth looking at.
Bookies William Hill fell 12p to 609.5 as a broker game them a target of 475p. Not much confidence there, then.
USD/CAD Breakout off 0.9725
USD CAD has been a dream to trade. The Canadian Dollar is gaining strength by the day and will usually rest for a day or so before continuing its down trend. Once you notice the resting channel, your orders can be set below the support line and the rest is history... Take a look at the 80 point breakout below...
Aud Usd - 60 point Retracement
The Aud USD fell off the resistance line in the channel and the red conductor assisted us with the reversal pattern. Your S/L should be above the 0.9000 and profit could be taken back down at the 200 MA.
Dow Jones - 150 Point fall...
The Dow has predictably fallen off its resistance line at 13,900. Yesterdays close at the top of the channel gave us a clear picture of what was going to happen today and the maket fell rapidly towards its support level.
FTSE Breakout...
I mentioned this morning about the triangle at 6,600... It was a slow wait but the breakout happend at 14.00 in the build up to the Dow opening and we are now sitting a comfortable 50 points lower... A nice start to a Friday afternoon session...
Morning Market, Friday 19th October 2007, 11am
The FTSE was down in early trading this morning. At 11am it was down at 6,604, despite having a small reverse half an hour before from a low of 6,588. It's Friday, don't forget, so we won't be holding our breath for a decent finish.
Mind you, the builders were doing ok. Barratts (up 3.3% or 20p), Persimmon (up 2.7% or 26p) and Taylor Wimpey (up 1% or 2.5p).
In contrast, the banks haven't done too well so far today. By late morning Barclays was down 11p, Northern Rock 3.5p (back to sub-200p at 199.9), Alliance and Leicester down 14.5p at 740p, Lloyds TSB down 9p at 534p, HBOS down 10p at 849.5p, RBS down 6p at 517p, and HSBC at 16.5p at 926p. The credit squeeze getting tighter, it seems.
Astra Zeneca was down 3% (75p) at 2,480, after the European Patent office revoked the patent for the firm's asthma treatment drug, Symbicot. Brokers didn't like that news.
Mind you, the builders were doing ok. Barratts (up 3.3% or 20p), Persimmon (up 2.7% or 26p) and Taylor Wimpey (up 1% or 2.5p).
In contrast, the banks haven't done too well so far today. By late morning Barclays was down 11p, Northern Rock 3.5p (back to sub-200p at 199.9), Alliance and Leicester down 14.5p at 740p, Lloyds TSB down 9p at 534p, HBOS down 10p at 849.5p, RBS down 6p at 517p, and HSBC at 16.5p at 926p. The credit squeeze getting tighter, it seems.
Astra Zeneca was down 3% (75p) at 2,480, after the European Patent office revoked the patent for the firm's asthma treatment drug, Symbicot. Brokers didn't like that news.
Dow held firm...
The Dow held firm yesterday in it's channel. Wednesday showed an excellent buying opportunity, bouncing off its support line and assisted with a Green conductor. However yesterday proved to be a quiet day, as the Dow drifted around the centre of the channel with no real direction and finished -3 down...
Remember when you trade in channels, you should only trade when you are close to the support or resistance levels. This way your stop losses can be controlled...
Remember when you trade in channels, you should only trade when you are close to the support or resistance levels. This way your stop losses can be controlled...
FTSE Triangle...
The FTSE is trying to hold the 6,600 support level. This is the 3rd time it has tested this level in 10 days and should be an interesting day ahead...
Thursday, 18 October 2007
Market Wrap, Thursday, 18th October, 2007, 10pm
A rather mixed day. Maybe a day of little organised direction, one could argue. Up and down, then up - err, no down. Finishing the day 68 points lower, in the end.
Yes, the bears are just playing, it seems. Check the daily chart, the Market Conductors; they show what we're in. A fall back. The FTSE finished over 68 points lower at 6,609.4, despite reaching a high of 6,722 and a low of 6,585. Hold on to your hat, we've got a rollercoaster. Actually, we haven't, really; just read the chart.
The trend is your friend.
The builders had a poor day, with Barratts down over 35p (to 658.5), Hammerson down 53p (to 1,066) and Taylor Wimpeys down nearly 14p at 253 (and a little bit).
Land followed. Not drastically, but down all the same. Land Securities down almost 40p at 1,575, and British Land down a shade (3p) at 1,070.
Oil continued its pull back too, with BP down 3.5p at 616 and RDS down 4p at 2,069. Not massive losses, BUT check the charts.
Bigger banks also continued to make the charts correct with Barclays down 17p at 602.5 and Alliance and Leicester down 27.5p at 756. Shall we mention Northern Rock? Ok, we will. They were down a smidge (3p) at 204.5, still just above that 2-quid figure, which seems to be a support level or a hopeful goal, depending on which side of the fence you stand. We're almost bored with that one now - unless something solid is announced. Formally announced, that is.
Scottish and Newcastle decided it would still hold its stance, finishing up a penny and a half at 757.5 after rumours of the Carlsberg/Heineken deal levels were banted around at anything between 8-quid, 823p, or even 850p. That was a decent trade yesterday. Not much news leaked there. Mind you, the firm itself were more than suprised by the response to the cheeky Danish/Dutch approach (see yesterday's blogs).
QXL Ricardo fell 42p to 1.286 after profit taking - despite EVO still talking it up. Tri-folding its Eastern European profits had been received well, but now a few wanted profits, it seems.
Oh, and British Airways. Our 'long' find of yesterday. Or the day before, was it?. It finished up another 6.25p at 430, with the rumours we mentioned this morning still alive (BMI possible merger and American Airlines chatting again). We're still long.
One final mention for Stagecoach (a nice swing trader over the last 2 years), who fell over 10p to 251.5 today after a broker said holders should "stop buying and start selling". A bit of a turn on opinion, we'd say, to say the least. The broker (we won't mention Collins Stewart's name) said that current oil prices and its recent rise has exposed weakneses to continued growth for next year.
Yes, the bears are just playing, it seems. Check the daily chart, the Market Conductors; they show what we're in. A fall back. The FTSE finished over 68 points lower at 6,609.4, despite reaching a high of 6,722 and a low of 6,585. Hold on to your hat, we've got a rollercoaster. Actually, we haven't, really; just read the chart.
The trend is your friend.
The builders had a poor day, with Barratts down over 35p (to 658.5), Hammerson down 53p (to 1,066) and Taylor Wimpeys down nearly 14p at 253 (and a little bit).
Land followed. Not drastically, but down all the same. Land Securities down almost 40p at 1,575, and British Land down a shade (3p) at 1,070.
Oil continued its pull back too, with BP down 3.5p at 616 and RDS down 4p at 2,069. Not massive losses, BUT check the charts.
Bigger banks also continued to make the charts correct with Barclays down 17p at 602.5 and Alliance and Leicester down 27.5p at 756. Shall we mention Northern Rock? Ok, we will. They were down a smidge (3p) at 204.5, still just above that 2-quid figure, which seems to be a support level or a hopeful goal, depending on which side of the fence you stand. We're almost bored with that one now - unless something solid is announced. Formally announced, that is.
Scottish and Newcastle decided it would still hold its stance, finishing up a penny and a half at 757.5 after rumours of the Carlsberg/Heineken deal levels were banted around at anything between 8-quid, 823p, or even 850p. That was a decent trade yesterday. Not much news leaked there. Mind you, the firm itself were more than suprised by the response to the cheeky Danish/Dutch approach (see yesterday's blogs).
QXL Ricardo fell 42p to 1.286 after profit taking - despite EVO still talking it up. Tri-folding its Eastern European profits had been received well, but now a few wanted profits, it seems.
Oh, and British Airways. Our 'long' find of yesterday. Or the day before, was it?. It finished up another 6.25p at 430, with the rumours we mentioned this morning still alive (BMI possible merger and American Airlines chatting again). We're still long.
One final mention for Stagecoach (a nice swing trader over the last 2 years), who fell over 10p to 251.5 today after a broker said holders should "stop buying and start selling". A bit of a turn on opinion, we'd say, to say the least. The broker (we won't mention Collins Stewart's name) said that current oil prices and its recent rise has exposed weakneses to continued growth for next year.
GBPCHF continues fall off 2.4100
The GBPCHF has continued its fall from 2.4100. The red conductor came in at 18.00 last night and has fallen 200 points down to 2.3900.
I referred to GBPCHF last week when it broke out of its up channel. We have now seen 3 lower highs and with when it retraced (finally) back to the resistance line at 2.4100, the red conductor kicked in and a perfect trade awaited...
I referred to GBPCHF last week when it broke out of its up channel. We have now seen 3 lower highs and with when it retraced (finally) back to the resistance line at 2.4100, the red conductor kicked in and a perfect trade awaited...
Silence Theraputics (SLN.L) on Watchlist
Silence Theraputics (SLN.L) could be on the turn up, we feel. The highs have been getting lower and the lows getting lower up until 2 days ago. Now we have a doji formed this morning as there is support at this level. The lows are higher for the 3rd day now, and we feel that this one could be on for a rise. We may buy on the breakout, if it occurs. One to watch.
Morning Market, Thursday 18th October 2007, 10am
After running up 30 points in the first few minutes of trading, the FTSE soon fell back and appeared to be settling at the 6,669 level at 10am.
Our mention of going long on British Airways (BAY.L) yesterday morning was well received in the offices this morning as BA was mentioned in the press stating it was in talks of a BMI merger. The carrier also confimred it was back talking very closely with American Airlines. I'm sure you'll all agree that the 60min chart is a handy tool, using all the indicators. See the blogs yesterday. The price is at 430p as we post, up some 17p on the trade. Nice.
Scottish and Newcastle was up another 10p at 766 as talk of the supposed Carlsberg/Heineken bid would be around the 850p mark. SCTN has jumped over 20% since Tuesday's close.
The Oil major BP has fallen a little again. BP was off another couple of pence early doors, continuing its trend for the last day or two, with the RSI falling below the 70 line. RDS is also level on the day, with both these charts looking like a fall to the 20-day MA may be on. Here's the BP chart:
The miners had a turn up again after the recent fall back. Anglo was up 53p to 3,363, ANTO was up 11p at 863, BHP was up 35p at 1,895, Xstrata 62p, 3,552.
The banks also opened ok, with HBOS, HSBC and Barclays all positive in early trading.
Our mention of going long on British Airways (BAY.L) yesterday morning was well received in the offices this morning as BA was mentioned in the press stating it was in talks of a BMI merger. The carrier also confimred it was back talking very closely with American Airlines. I'm sure you'll all agree that the 60min chart is a handy tool, using all the indicators. See the blogs yesterday. The price is at 430p as we post, up some 17p on the trade. Nice.
Scottish and Newcastle was up another 10p at 766 as talk of the supposed Carlsberg/Heineken bid would be around the 850p mark. SCTN has jumped over 20% since Tuesday's close.
The Oil major BP has fallen a little again. BP was off another couple of pence early doors, continuing its trend for the last day or two, with the RSI falling below the 70 line. RDS is also level on the day, with both these charts looking like a fall to the 20-day MA may be on. Here's the BP chart:
The miners had a turn up again after the recent fall back. Anglo was up 53p to 3,363, ANTO was up 11p at 863, BHP was up 35p at 1,895, Xstrata 62p, 3,552.
The banks also opened ok, with HBOS, HSBC and Barclays all positive in early trading.
GBP/USD Ascending Triangle Breakout
The last 24 hours have seen a build up to an ascending triangle in GBPUSD.
At 6.45pm last night we saw our 1 st Green Conductor with a resistance level at 2.0420. Remember to only trade with the Trend in a bullish pattern like the Ascending triangle, as you never know when it will breakout.
This morning saw a 54 point break up to 2.0474...
At 6.45pm last night we saw our 1 st Green Conductor with a resistance level at 2.0420. Remember to only trade with the Trend in a bullish pattern like the Ascending triangle, as you never know when it will breakout.
This morning saw a 54 point break up to 2.0474...
USDCAD Continues Trend
I mentioned on Tuesday that the Fundamentals hadn't changed and that we would only be seeing a pullback to the 200MA and then a continuation move back down.
The chart shows the retracement back to its 200MA and as it hit the resistance level at 0.9800 the move continued lower to 0.9725. A 75 point trade...
The chart shows the retracement back to its 200MA and as it hit the resistance level at 0.9800 the move continued lower to 0.9725. A 75 point trade...
Dow Jones Falls off 14,000
The Dow Jones fell 250 points off 14,000 yesterday to 13,758 with a bounce back up 150 points... A total of 400 points in one day!!! Keep it simple and use the Pre Alerts to your advantage.
Wednesday, 17 October 2007
Market Wrap, Wednesday, 17th October 2007, 8pm
The FTSE closed up today, despite a fairly neutral start. By the close it was at 6,677.7, up 63.4 points on the day. The FTSE 250 was also up on the day - 171.8 better at 11,538. The Dow had opened up and run to 100 points to the good immediately, but fell back to 13,928, or 15 points up, by the London close.
The best performer of the day was Scottish and Newcastle (SCTN.L), who, despite not looking like it was going to go, jumped a massive 119.5p on the day, closing at 756. This valued the company at about £7bn, which seems to be the figure banted around, after the Danish Firm Carlsberg and Dutch firm Heineken, who both confirmed they were in talks with the firm. Scottish and Newcastle weren't so happy, and told all shareholders to just sit back and wait for news. They seem to be upset at te proposed split of the firm, with carlsberg getting the Baltic Beverage Holdings of Greece and France, whilst Heineken takes over the UK and other mainland Europe markets. Talk for a 750-800p bid was knocked around.
Enterprise Inns (up 5p o 617.5) and Punch taverns (up 14p at 1,038) got some good broker upgrades and Cadburys was up 12p at 617.5 as ABN Amro raised its valuation to 580p a share.
Tate and Lyle did well today, up 32.25p at 455 on the back of a postive EU report on genetically modified crop imports.
RBS (up 17.5p to 532), Alliance and Leicester (up 8.5p to 783.5) were up as some favour fell on the banks.
Miners didn't fair so well, with RIO down 65p to 4,354 on its copper production news and Anglo down 10p to 3,310 amongst the fallers. BHP, on the other hand, finished up 34p at 1,857 as investors felt there was still value there.
The best performer of the day was Scottish and Newcastle (SCTN.L), who, despite not looking like it was going to go, jumped a massive 119.5p on the day, closing at 756. This valued the company at about £7bn, which seems to be the figure banted around, after the Danish Firm Carlsberg and Dutch firm Heineken, who both confirmed they were in talks with the firm. Scottish and Newcastle weren't so happy, and told all shareholders to just sit back and wait for news. They seem to be upset at te proposed split of the firm, with carlsberg getting the Baltic Beverage Holdings of Greece and France, whilst Heineken takes over the UK and other mainland Europe markets. Talk for a 750-800p bid was knocked around.
Enterprise Inns (up 5p o 617.5) and Punch taverns (up 14p at 1,038) got some good broker upgrades and Cadburys was up 12p at 617.5 as ABN Amro raised its valuation to 580p a share.
Tate and Lyle did well today, up 32.25p at 455 on the back of a postive EU report on genetically modified crop imports.
RBS (up 17.5p to 532), Alliance and Leicester (up 8.5p to 783.5) were up as some favour fell on the banks.
Miners didn't fair so well, with RIO down 65p to 4,354 on its copper production news and Anglo down 10p to 3,310 amongst the fallers. BHP, on the other hand, finished up 34p at 1,857 as investors felt there was still value there.
FTSE Breakout
It's been a very quiet morning on the Currencies after an excellent couple of days.
The FTSE remained in its channel until midday and broke above the resistance line at 6,640 as well as it's 200MA. Good positive sign that it held the 6,600 and hopefully we see a nice run back up again...
When the market is quiet, don't look too hard for the Trades. If they aren't there, simply don't trade and be patient for the correct setup.
The FTSE remained in its channel until midday and broke above the resistance line at 6,640 as well as it's 200MA. Good positive sign that it held the 6,600 and hopefully we see a nice run back up again...
When the market is quiet, don't look too hard for the Trades. If they aren't there, simply don't trade and be patient for the correct setup.
British Airways - We're Watching Closely...
Despite the current oil price, British Airways is just showing signs of a bounce off the 20-day and 50-day MAs. Could be a possible long, for those of you who are safe traders, which is difficult to call with the market in its current state of confusion and having some realisation creeping into some of the prices.
If you were brave, and can view charts during the day, then at 413 you were in. Check out the hourly (60min) chart on this one too (below). It makes it easier to see how we knew this one was turning. The Market Analyser at its best again.
Morning Market, Wednesday, 17th October 2007, 9am
London was up a shade this morning in early trading, about 6 points by 9am to 6,620. This isn't too bad after the Dow's close of 13,912 last night, down 72 points on the day. The bears are still hunting, though, and an even start to the day isn't very bullish in our book. Any rises won't be genuine, we feel.
RBS had a nice start, up 12.5p at 527 in the first hour, this after some positive broker comments relating to the ABN Amro deal.
The miners haven't faired so well so far, with RIO down a rather large 140p at 4,279 after it announced its margins weren't as good in the Pilbara mining project region. ANTO (down 29p to 800), BHP (down 37p to 1,786) and Vedanta (down 72p at 2,093) all followed suit.
RBS had a nice start, up 12.5p at 527 in the first hour, this after some positive broker comments relating to the ABN Amro deal.
The miners haven't faired so well so far, with RIO down a rather large 140p at 4,279 after it announced its margins weren't as good in the Pilbara mining project region. ANTO (down 29p to 800), BHP (down 37p to 1,786) and Vedanta (down 72p at 2,093) all followed suit.
Tuesday, 16 October 2007
Market Wrap, Tuesday, 16th October 2007, 7pm
Well, as expected the FTSE closed lower, continuing the trend of the last few days' trading. At the close it was down just over 30 points at 6,614.3. The FTSE 250 was down 73.7 points at 11,366.2. Volume was middle of the road, but obviously more sellers than investors.
New York wasn't too pleased with Bernanke's speech, with the DJI down about 40 points at the time of London's close.
Back to London, and the miners decided to join the march south with some red numbers: Anglo was down 86p at 3,320, Vedanta down 42p at 2,165, Rio down 54p at 3,578, ANTO down 24p to 829 and BHP down 6p at 1,823.
In complete contrast to yesterday's over excited 10% rise, Johnson Matthey decided it had reacted too positively and promptly fell 87p to 1,753 today. The chat about the 20-quid a share bid or takeover may just be that - 'chat'.
Vodafone was back 2.7p at 173.6. As mentioned this morning, this was mainly due to a reaction on the Ericsson 3rd quarter revenues being worse than hoped.
All the banks faired poorly too. Barclays down 11.5p to 615, RBS down 12p 514.5, Lloyds TSB down 11p at 536.5, and HBOS down 12p to 866. Northern Rock was in contrast, of course (!), changing its initial fall by finishing up 7.5p at 223.5. Bid hoped still in the air, there.
The oil price gave BP and RDS a chance to attract some of the spare cash around, finishing up 4.5p (at 627) and 20p (at 2,075) respectively. The current BBL price giving a good excuse to invest.
New York wasn't too pleased with Bernanke's speech, with the DJI down about 40 points at the time of London's close.
Back to London, and the miners decided to join the march south with some red numbers: Anglo was down 86p at 3,320, Vedanta down 42p at 2,165, Rio down 54p at 3,578, ANTO down 24p to 829 and BHP down 6p at 1,823.
In complete contrast to yesterday's over excited 10% rise, Johnson Matthey decided it had reacted too positively and promptly fell 87p to 1,753 today. The chat about the 20-quid a share bid or takeover may just be that - 'chat'.
Vodafone was back 2.7p at 173.6. As mentioned this morning, this was mainly due to a reaction on the Ericsson 3rd quarter revenues being worse than hoped.
All the banks faired poorly too. Barclays down 11.5p to 615, RBS down 12p 514.5, Lloyds TSB down 11p at 536.5, and HBOS down 12p to 866. Northern Rock was in contrast, of course (!), changing its initial fall by finishing up 7.5p at 223.5. Bid hoped still in the air, there.
The oil price gave BP and RDS a chance to attract some of the spare cash around, finishing up 4.5p (at 627) and 20p (at 2,075) respectively. The current BBL price giving a good excuse to invest.
USDCAD Breaks out of resistance line
USDCAD has been in an aggressive downtrend since our breakout Triangle 12 days ago. The candles broke above the resistance line yesterday, as it's been heavily over sold and needed a small retracement.
I wouldn't be a huge buyer on a breakout like this, as the strong fundamentals haven't changed... I will be watching this for a pull back to it's 200 MA and then wait for a reversal signal and follow the trend again... Always remember the Trend is your friend!!!
I wouldn't be a huge buyer on a breakout like this, as the strong fundamentals haven't changed... I will be watching this for a pull back to it's 200 MA and then wait for a reversal signal and follow the trend again... Always remember the Trend is your friend!!!
Morning Market, Tuesday 16th October 2007, 9am
The FTSE continued its reverse of fortune this morning, and after 30mins of trading was down to a shade above 6,600 - over 40points. The FTSE 250 was back 70 points at 11,370.
Northern Rock was down another 3.35% at 208p and Barclays down 3.75% at 603p. Other banks also haven't faired well, with Lloyds TSB down over 2.5% at 533p and RBS down 13p at 513. Alliance & Leicester was down 2% (15p) at 738. The Daily Telegraph jumped on our dilution theory that investors may end up with next to nothing. We weren't that pessimistic, but the 'dilution' and 'aqualung' references were in the same sentences on our blog last night. The CEO, in the meatime, is defending his and his fellow directors' ground in saying that it wasn't his fault or his Board's fault, and that it was the global credit crunch that had caused the problems.
British Airways was off 11p at 409, mainly due to the reaction to the price of a barrel of the black stuff.
Vodafone was being a bit of a spoilsport, after such a good growth period, on news that Ericsson, its European peer, had reposrted some rather disappointing figures.
Miners were mixed, with ANTO down 20p 833p, Angl down 96p at 3,310 amongst the negative bumch, whilst BHP was up 18p at 1,845, Xstrata up 21p at 3,512, and Kazakhmys was up 16p at 1,570.
Our stop on SABMiller was triggered as we'd wound it in t a 12p reversal. That was up 1% on early play (15p) at 1,428. We may re-enter a trade on this one, but calling the market at the moment is difficult. There should be more fallers in the coming days.
As for the black stuff - oil was over $80 bbl for light sweet crude at $86.13 bbl. Brent crude was at $82.85 bbl, another record.
Northern Rock was down another 3.35% at 208p and Barclays down 3.75% at 603p. Other banks also haven't faired well, with Lloyds TSB down over 2.5% at 533p and RBS down 13p at 513. Alliance & Leicester was down 2% (15p) at 738. The Daily Telegraph jumped on our dilution theory that investors may end up with next to nothing. We weren't that pessimistic, but the 'dilution' and 'aqualung' references were in the same sentences on our blog last night. The CEO, in the meatime, is defending his and his fellow directors' ground in saying that it wasn't his fault or his Board's fault, and that it was the global credit crunch that had caused the problems.
British Airways was off 11p at 409, mainly due to the reaction to the price of a barrel of the black stuff.
Vodafone was being a bit of a spoilsport, after such a good growth period, on news that Ericsson, its European peer, had reposrted some rather disappointing figures.
Miners were mixed, with ANTO down 20p 833p, Angl down 96p at 3,310 amongst the negative bumch, whilst BHP was up 18p at 1,845, Xstrata up 21p at 3,512, and Kazakhmys was up 16p at 1,570.
Our stop on SABMiller was triggered as we'd wound it in t a 12p reversal. That was up 1% on early play (15p) at 1,428. We may re-enter a trade on this one, but calling the market at the moment is difficult. There should be more fallers in the coming days.
As for the black stuff - oil was over $80 bbl for light sweet crude at $86.13 bbl. Brent crude was at $82.85 bbl, another record.
Cable falls for the early rises...
GBPUSD hit our resistance line again at 2.0440 with a red conductor appearing at 3am this morning. The longer term charts show me the Channel and the shorter term charts show the correct entry levels... The conductor was no real surprise, as we have been in this channel for 2 1/2 weeks now and a pull back was potentially high...
NZDUSD keeps falling...
I mentioned yesterday that NZDUSD was struggling to hold the support line. Remember that if the market has been over bought for a long period of time, the breakout will be a lot larger than normal. Our orders were below 0.7700 and overnight fell to a low of 0.7411... Thats nearly 300 points in under 24 hours!!!
AUDUSD Falls out of Channel...
We saw yesterdays big fall from 0.9080 and as it hit the support line at 0.9000 i was wondering if this was going to break or not. If you are unsure, purely put an order to sell below the support line and be patient. As it stands it broke out perfectly for a 160 point fall to a low of 0.8840.
FTSE Down 42 Points this am...
The FTSE has kept falling this morning with Northern Rock leading the way again...That's 100 points lower from our fall through our support line at 6,700...
Monday, 15 October 2007
Market Wrap, Monday 15th October 2007, 10pm
The FTSE seems to have finally come to its senses and, after a high of some 6,751-odd, fell back to close at 6,644.5 at the close, some 86 points lower than Friday's close. This is not a hindsight statement, we have been thinking the whole market (including US, of course - even more so) is overvalued, and that's without the other factors coming into the fold.
The US opened down and fell off on Citigroup's poor figures and the oil prices that seem to be running away again. The oil news has been nice for BP this last week, who have enjoyed a nice run, indeed. Anyway, the DJI fell below 14,000, right down to the 20-day MA at 13,910, but recovered to close at 13,984, rather surprisingly. Falling through 14k, which has triggered more shorts, we would say, has definitely been on the cards. We hear of so many shorts in the market now that there could be a mini recovery in just closing them! We reckon they’d have been better doing the usual annual play and selling off in May, but no, they carried on and on through early summer until instead of having a 13k Dow to fall back from and build back to they ran it up to 14k. That must have been the strongest short of the lot, a couple of months ago, hitting 14k. Problem is now is that they’ve built it back up to 14k again and there’s no real substance to it. It’s difficult to call as they just keep propping it up. Anyway, fundamentals always come through in the end. That’s what we always say.
Other news… Northern Rock fell 57p to 216.25 on news that any deal could give current shareholders so much dilution that they'll need an aqualung. As mentioned this morning, the bank said it's in with 3rd parties talking, but they wouldn't confirm any deal, potential deal, nor value of any potential deal. Other banks fell in sympathy, with Barclays falling 21p to 626.5p over the session.
Our short for the last few days (see previous posts), SABMiller, did us some nice favours with a healthy (not for the company) drop of 70p to 1,413. On the cards, really. There was so much of the recent good news built into the price before it actually got announced that a drop was inevitable. That is often the case – the good news to come is already in there. Whitbread also fell 49p to 1,725, just so it didn't feel left out.
One good news item of the day, just to buck the trend, was Johnson Matthey, who leapt 10% on rumours of a US firm bid of something like 20-quid a go. They finished up 166p at 1,746 on the day.
As fleetingly mentioned earlier, the oils did ok, but have already had a decent run of late. BP was up a modest 3.5p at 622.5 and RDS was up 14p at 2,055 - both mainly on oil prices as there's not alot else to celebrate. Except this year's gold, of course.
The US opened down and fell off on Citigroup's poor figures and the oil prices that seem to be running away again. The oil news has been nice for BP this last week, who have enjoyed a nice run, indeed. Anyway, the DJI fell below 14,000, right down to the 20-day MA at 13,910, but recovered to close at 13,984, rather surprisingly. Falling through 14k, which has triggered more shorts, we would say, has definitely been on the cards. We hear of so many shorts in the market now that there could be a mini recovery in just closing them! We reckon they’d have been better doing the usual annual play and selling off in May, but no, they carried on and on through early summer until instead of having a 13k Dow to fall back from and build back to they ran it up to 14k. That must have been the strongest short of the lot, a couple of months ago, hitting 14k. Problem is now is that they’ve built it back up to 14k again and there’s no real substance to it. It’s difficult to call as they just keep propping it up. Anyway, fundamentals always come through in the end. That’s what we always say.
Other news… Northern Rock fell 57p to 216.25 on news that any deal could give current shareholders so much dilution that they'll need an aqualung. As mentioned this morning, the bank said it's in with 3rd parties talking, but they wouldn't confirm any deal, potential deal, nor value of any potential deal. Other banks fell in sympathy, with Barclays falling 21p to 626.5p over the session.
Our short for the last few days (see previous posts), SABMiller, did us some nice favours with a healthy (not for the company) drop of 70p to 1,413. On the cards, really. There was so much of the recent good news built into the price before it actually got announced that a drop was inevitable. That is often the case – the good news to come is already in there. Whitbread also fell 49p to 1,725, just so it didn't feel left out.
One good news item of the day, just to buck the trend, was Johnson Matthey, who leapt 10% on rumours of a US firm bid of something like 20-quid a go. They finished up 166p at 1,746 on the day.
As fleetingly mentioned earlier, the oils did ok, but have already had a decent run of late. BP was up a modest 3.5p at 622.5 and RDS was up 14p at 2,055 - both mainly on oil prices as there's not alot else to celebrate. Except this year's gold, of course.
AUDUSD Channel...
The AUDUSD alerted us to a possible reversal this morning. The red conductor came in at noon (0.9075) with a stop loss above our restistance channel line (0.9105)... Once you spot a channel early use the support and resistance lines to assist you with your stop losses...
Dow Jones Falls below 14,000
The Dow Jones has fallen 135 points in the 1st 2 hours of trading with General Motors down 4.27%...GM has had a fantastic run for the last 2 weeks from $28.00 and is now trading down $3 off its high at $43...Take a look at the channel we formed on Friday and as it broke through the support line triggers got hit below 14,050...The old low of 13,950 (on Thursday) will be the 1st support...
FTSE Closes 90 Points lower
FTSE has had a very poor start to the week. The Analyser picked the trade perfectly this morning and many orders got triggered as it broke the support line. The CCI gave a confirmed sell as it broke below the 0.00...
NZDUSD Struggling to hold support line...
NZDUSD had powerfully broke through it's ascending triangle at 0.7650 level on Thursday last week. After rallying to 0.7775 the sellers have come in and are now driving it back down to the old support line. This is definitely one to watch for either a break or a bounce off the old line...
FTSE Retraces off 6,750 high...
After a good start to the day, the FTSE hit the old high at 6,750 and fell back off to below 6,700. It has fallen through its support line, which it held all of last week and the next potential support line is 6,660 which was the old low on Friday...
Morning Market, Monday 15th October 2007, 10am
Monday Morning. A bit of a mess, so far. Mixed bag, really. The FTSE seems to be reluctant to break the previous high, just hanging back a bit. At 10am it was at 6,742.
Northern Rock fell after it suddenly became apparent that shareholders may not get as much as they think in a takeover. By 10am it was back at 217p, down about 55p since the Friday close. The bank confirmed it was in talks with various potential investors and/or buyers, but said it was early doors on any possible deal arrangements, and there was certainly nothing confirmed as in the bag. Credit Suisse promptly changed its target from 390p to 180p - a 50% cut in value of the bank.
SABMiller had a nasty fall. By 10am it was back at 1,455 - down some 35p since the Friday close. It did give an upbeat trading statement, but it looks liek the good news was already built in the price. Recent climbs now showing some profit taking.
BP has had another good start. Up at 632p by 10am, about 14p on the day so far. BP is actually on a 12-month high. As it's levelling out, and the market looks jiddery, we've closed our long - we'll be watching for a possible short trade any time...!
The miners all seemed to have a good start to the week, with all the majors up over 1% this morning.
Northern Rock fell after it suddenly became apparent that shareholders may not get as much as they think in a takeover. By 10am it was back at 217p, down about 55p since the Friday close. The bank confirmed it was in talks with various potential investors and/or buyers, but said it was early doors on any possible deal arrangements, and there was certainly nothing confirmed as in the bag. Credit Suisse promptly changed its target from 390p to 180p - a 50% cut in value of the bank.
SABMiller had a nasty fall. By 10am it was back at 1,455 - down some 35p since the Friday close. It did give an upbeat trading statement, but it looks liek the good news was already built in the price. Recent climbs now showing some profit taking.
BP has had another good start. Up at 632p by 10am, about 14p on the day so far. BP is actually on a 12-month high. As it's levelling out, and the market looks jiddery, we've closed our long - we'll be watching for a possible short trade any time...!
The miners all seemed to have a good start to the week, with all the majors up over 1% this morning.
Saturday, 13 October 2007
Market Wrap, Friday 12th October 2007, 11pm
As a little twist and suprise for us all, the FTSE actually finished the session 6.2 points up at 6,730.7. However, the FTSE 250 did finish down 46.6 points at 11,576.3. The US was nearly 70 points up at the time of the London close, thus helping to give some strength to what seemed like a negative day early doors.
Northern Rock was up 15p at 273.5 as Virgin confimed the reports that it was also in the game for some takeover of the cake. RBS didn't fair as well, off 7p at 546.
The miners took hits as well, with Anglo down 45p at 3,435, Kazakhmys down 5p at 1,584 and Vedanta down 50p to 2,267 on some profit taking.
Builders also did poorly, with Barratts down 23p at 699 and Taylor Wimpey down 9.5p at 281.25.
Northern Rock was up 15p at 273.5 as Virgin confimed the reports that it was also in the game for some takeover of the cake. RBS didn't fair as well, off 7p at 546.
The miners took hits as well, with Anglo down 45p at 3,435, Kazakhmys down 5p at 1,584 and Vedanta down 50p to 2,267 on some profit taking.
Builders also did poorly, with Barratts down 23p at 699 and Taylor Wimpey down 9.5p at 281.25.
Friday, 12 October 2007
FTSE holds the level...
The FTSE level held the support line from Tuesday and is looking strong to attack the old high of 6,754 back in July... Volatility will always be high around these levels so do be careful. Enjoy the weekend with an England victory and we are all set up for another interesting and profitable week..
Cable Breakout
At 10.35am this morning i showed you the Cable channel chart. The pound found a support at 2.0240 with a double bottom pattern and as it rallied through the resistance at 2.0300, our order got triggered with a drive towards the natural 50 point resistance level at 2.0350.
Have a great weekend and speak to you on monday.
Have a great weekend and speak to you on monday.
Is Morrison's Breaking Above the 200-day Moving Average?
We had been long on Morrison's and then it started to channel, rather boringly, and chopped us out after a gap up one day a couple of weeks ago. We then watched it rise some 7% over the next week or so (typical), before a 3day fall to the 20-day. However, it has since settled on the 20/50-day MAs, which are on top of each other, and then bounced up to nudge the 200-day MA after 3 positive days. The 200-day MA is quite important, here, and we think that we could see 5-10% in this one if the market permits. It is a shame that the market seems to be a bit toppy at the moment as this one looks like it could have had longer to run. The last 3 days have seen higher highs and higher lows. It's difficult to call a long trade at the moment as we believe the market needs a realisation kick up the backside. Still, here's the chart:
Insight Foundation Trust (IFD.L) Coming Off the Bottom...?
We couldn't help notice that IFD seems to finally be coming off the bottom after a poor run. Whilst we think the builders and property part of the market has taken more than its fair share of hammering, and the market now seems to have topped for now, we can't help but notice this fella sneaking a turn up to the 20-day MA. If it does break then we could be starting the other side of the wave, in our opinion. One to watch.
Morning Market, Friday 12th October 2007, 10am
After the fall over the pond last night we all expected the gap down this morning. The FTSE opend 58 points down, and by 10am was back up a little at 6,683. We would think a lower day is in order, though, being Friday and also after the fall in US last night. After being so close to the 2007 high yesterday, one may have thought it could have just broken it, like the US managed the day before, but the bears in New York put pay to that with the selling last night.
This morning in London the miners are falling back after such a good day yesterday. Xstrata was down 100p at 3,492, RIO down 143p at 4,420, Kazakhmys down 44p at 1,546 and ANTO down 30.5p at 842.
The builders also haven't done so well, with Barratts off 10p at 712, Taylor Wimpey down a touch, Redrow down 5p to 384.5 and Persimmons down 8p at 995.
Northern Rock decided to go against the day's theme and was up 12p on early trading at 270p. It now seems that Sir Richard Branson is muscling in on the action. Ort maybe he just needs some press coverage? Anyway, apparently Virgin may be fronting up a consortium of groups that will chuck some cash in to the troubled bank whilst joining up with Virgin Money. We'll see what comes of that.
This morning in London the miners are falling back after such a good day yesterday. Xstrata was down 100p at 3,492, RIO down 143p at 4,420, Kazakhmys down 44p at 1,546 and ANTO down 30.5p at 842.
The builders also haven't done so well, with Barratts off 10p at 712, Taylor Wimpey down a touch, Redrow down 5p to 384.5 and Persimmons down 8p at 995.
Northern Rock decided to go against the day's theme and was up 12p on early trading at 270p. It now seems that Sir Richard Branson is muscling in on the action. Ort maybe he just needs some press coverage? Anyway, apparently Virgin may be fronting up a consortium of groups that will chuck some cash in to the troubled bank whilst joining up with Virgin Money. We'll see what comes of that.
GBPUSD Channel
Take a look at the Channel in Cable. The golden rule is to trade with the Trend and therefore the Red Conductors are key... If this breaks above the resistance line look for a pull back to the 200 MA.
GBPCHF Falls out of Channel
GBPCHF fell 200 points out of its channel from 2.4100 yesterday...The double top formed and showed struggling signs to continue past 2.4200. As it pulled back it fell through its support at 2.4100...
Dow Falls hard off 14,200...
The Dow fell 250 points off its new high of 14,200. The T/P and Red conductor showed us the break below the channel we had been in since wednesday. Our order was at 14,180 and this got triggered on the first pull back..
Market Wrap, Thursday 11th October 2007, 11pm
Well, we've broken 6,700 again. It was on the cards, really, as the US had gone to highs the last day or two. At the finish the FTSE was at 6,724.5, up some 91.5 points. The FTSE250 was up 110.8 points at 11,622.9. Not a bad session. WE are getting a nose bleed at the moment. It's difficult to see how a long position can be justified. there's so much money going into the market it's frighteneing. there must be so many shorts out there, waiting for a 'correction', that a pullback won't be far away. That's just our opinion, of course. The US is the suprising one. So much debt over there, credit problems, housing market... the list goes on. We liken the situation to something like a massive margin call! - with money just piling in to falsely support and fight something that isn't genuine. Nick Leeson can give them advice on this if they wish.
Schroeders was up 60p on the day at 1,560 on speak that they'll be selling their investment arm to concentrate on private banking, says the FT.
The miners were having a ball today, with BHP up 79p at 1,880, ANTO up 35p at 871.5, RIO up 155p to 4,563 and Vedanta up 127p at 2,317.
Oil stocks were also up - BP up 13.5p to 593.5 on news of a restructuring plan after a catalogue of operational mishaps (apparently due to the complex organisational levels and structure), RDS was up 49p at 2,025 and BP Group was up 40p at 883.
The recent rocket, Northern Rock, finally retraced some of the ground regained the last few days by falling back 15.5p to 258 as the recent profits were snatched. This after a 40% rise in 2 days. No suprise there, really.
RBS fell 6p to 553 on some profit takig after the ABN news this week had settled in. Barclays also fell back 4.5p to 651 on further bearish attitude to the sector for now.
Housebuilders didn't fai as well. Barratts were down 26.5p at 722, Taylor Wimpey were down 13p at 291 and Persimmon were down 42p at 1,003.
Schroeders was up 60p on the day at 1,560 on speak that they'll be selling their investment arm to concentrate on private banking, says the FT.
The miners were having a ball today, with BHP up 79p at 1,880, ANTO up 35p at 871.5, RIO up 155p to 4,563 and Vedanta up 127p at 2,317.
Oil stocks were also up - BP up 13.5p to 593.5 on news of a restructuring plan after a catalogue of operational mishaps (apparently due to the complex organisational levels and structure), RDS was up 49p at 2,025 and BP Group was up 40p at 883.
The recent rocket, Northern Rock, finally retraced some of the ground regained the last few days by falling back 15.5p to 258 as the recent profits were snatched. This after a 40% rise in 2 days. No suprise there, really.
RBS fell 6p to 553 on some profit takig after the ABN news this week had settled in. Barclays also fell back 4.5p to 651 on further bearish attitude to the sector for now.
Housebuilders didn't fai as well. Barratts were down 26.5p at 722, Taylor Wimpey were down 13p at 291 and Persimmon were down 42p at 1,003.
Thursday, 11 October 2007
Morning Market, Thurs 11th Oct 2007, 11am
The FTSE opened stonger this mroning, up over 50 points in the first half an hour. By 11am the market was showing a slight fall back of 13 points from the initial jump but had levelled at 6,677 and looked like it may go north again.
Northern Rock was up again early doors, but not so much, and then fell back slightly to 263p. Looks like it could fall back some more - probably due to the fast ground gained in the last few sessions. Other banks, such as RBS & Barclays also fell back slightly, even though the first was sucessful with its ABN deal and the later failed.
Vodafone has a nice start, up 4.5p to 175.5, and it still looks like it may have more mileage with strong volume.
Miners had a good start to the day, with BHP (up 35p), ANTO up 25p), Vedanta (up 100p), RIO (up 80p) and Xstrata (up 90p) all showing decent gains.
Negatives were shoing on the housebuilders, With Taylor Wimpey, Persimmon & Barartts all showing down about 3% already.
JD Weatherspoon (JDW.L) seems to be baulking on this 570p level, but it's spent so long there (nearly a week) we think this could be the breakthrough. We're waiting for a firm break and may join the ship. There has been a down trrend of highs over the last couple of months or so, but now we've broken through the 50-day MA, and have stayed just above it, it shows positive intentions, we feel. We're watching.
Mitchells and Butler (MAB.L) is another we're long on at the momrnt. The slow rise through the 20-day MA stayed firm and now we're nudging the 50-day. If we break that we may stay there with the 20 crossing the 50 soon after. We have a tight stop.
Old Mutual (OML.L) has jumped more than we thought. The slight gapped up doji yesterday looked uncertain after 3 days of appearing to be a fallback on the cards, and the open up today has made us think we are overbought, or close to being overbought. The RSI is up at 72 and the current level is a previous resistance. The downtrend has been broken, but we are not long anymore. If anything we'll look for a bit of profit taking in the coming days, quite possibly.
We may short Carnival (CCL.L) at 2,440 as it's the end of the summer and a fall back to the 20-day MA may be due, since the recent cross. Keep an eye on this one if volume tails off.
Northern Rock was up again early doors, but not so much, and then fell back slightly to 263p. Looks like it could fall back some more - probably due to the fast ground gained in the last few sessions. Other banks, such as RBS & Barclays also fell back slightly, even though the first was sucessful with its ABN deal and the later failed.
Vodafone has a nice start, up 4.5p to 175.5, and it still looks like it may have more mileage with strong volume.
Miners had a good start to the day, with BHP (up 35p), ANTO up 25p), Vedanta (up 100p), RIO (up 80p) and Xstrata (up 90p) all showing decent gains.
Negatives were shoing on the housebuilders, With Taylor Wimpey, Persimmon & Barartts all showing down about 3% already.
JD Weatherspoon (JDW.L) seems to be baulking on this 570p level, but it's spent so long there (nearly a week) we think this could be the breakthrough. We're waiting for a firm break and may join the ship. There has been a down trrend of highs over the last couple of months or so, but now we've broken through the 50-day MA, and have stayed just above it, it shows positive intentions, we feel. We're watching.
Mitchells and Butler (MAB.L) is another we're long on at the momrnt. The slow rise through the 20-day MA stayed firm and now we're nudging the 50-day. If we break that we may stay there with the 20 crossing the 50 soon after. We have a tight stop.
Old Mutual (OML.L) has jumped more than we thought. The slight gapped up doji yesterday looked uncertain after 3 days of appearing to be a fallback on the cards, and the open up today has made us think we are overbought, or close to being overbought. The RSI is up at 72 and the current level is a previous resistance. The downtrend has been broken, but we are not long anymore. If anything we'll look for a bit of profit taking in the coming days, quite possibly.
We may short Carnival (CCL.L) at 2,440 as it's the end of the summer and a fall back to the 20-day MA may be due, since the recent cross. Keep an eye on this one if volume tails off.
USDCAD Channel Breakout...
We have been waiting for this USD CAD to breakout for the last 24 hours and our trigger has just been hit below 0.9800.. The Conductors assisted with the Channel below the 200 MA and the rest is history...
Dow Jones - 150 Point Retracement
So who sold the Dow yesterday back to the 14,000 support level? Remember the 'Elastic Band Theory' learn't on the 2 Day course, well this is perfect example and the reason why the 'Gap Trade' was never going to close yesterday.
If you have a large fall like this in the Dow, you will often find a bounce back off the support line and in this case, a 50% retracement. What a Day!!!
Keep on these Hourly charts to maximise your profits and watch the Pre Alerts...
If you have a large fall like this in the Dow, you will often find a bounce back off the support line and in this case, a 50% retracement. What a Day!!!
Keep on these Hourly charts to maximise your profits and watch the Pre Alerts...
FTSE Rally - 100 points
The FTSE was predicting another big run up this morning, with yesterdays (late) green conductor above the 200 MA. The 1 Hour chart is extremely powerful for holding these type of trades. Combine this with the Trend on the Daily and you now have a very powerful strategy...
Wed, 10th Oct 11pm
The FTSE closed up 17.6 today at 6,633. This despite falling to 6,587.7 during the session earlier on. There seems some nervousness in the market, but the US forging forward to new highs seems to be pulling London along.
One recent rollercoaster, Northern Rock, was up yet another massive 32% on news of support. This was a rise of nearly 67p to 273.5.
The miners faired well, with ANTO up 33p at 836.5, RIO up 173p at 4,408, and Kazakhmys up 61p at 1,524. Vedantawas also up 35p at 2,187.5 after it posted better than expected production figures for its minerals. A broker target of 2,350 also helped.
One recent rollercoaster, Northern Rock, was up yet another massive 32% on news of support. This was a rise of nearly 67p to 273.5.
The miners faired well, with ANTO up 33p at 836.5, RIO up 173p at 4,408, and Kazakhmys up 61p at 1,524. Vedantawas also up 35p at 2,187.5 after it posted better than expected production figures for its minerals. A broker target of 2,350 also helped.
Wednesday, 10 October 2007
Market Wrap, Wed 10th October 2007, 10am
The FTSE opened up and ran 16points in the first few minutes but immediately fell lower this morning despite the US rising to another record high last night, finsihing the session at 14,164.53, up 120.8 on the day. To us it seems that we seem to be a little more sensible this side of the pond. By 10am the FTSE was at 6,596.
On ecasualty this morning was Experian Group, who were down nearly 40p at just above a fiver after a trading statment gave some cause for concern.
Northern Rock was up again, at 237p by 10am. Looks like there is still room for more. This has been an unbelievable rise from such a pessimistic position last week, although still well short of the 10 and 11-quids of a few months ago.
British Airways had a good morning so far, up 3% already.
As we mentioned yesterday, SABMiller is coming back a little after the recent rise, with the Market Analyser showing the trade coming again. See snapshot below for this morning.
On ecasualty this morning was Experian Group, who were down nearly 40p at just above a fiver after a trading statment gave some cause for concern.
Northern Rock was up again, at 237p by 10am. Looks like there is still room for more. This has been an unbelievable rise from such a pessimistic position last week, although still well short of the 10 and 11-quids of a few months ago.
British Airways had a good morning so far, up 3% already.
As we mentioned yesterday, SABMiller is coming back a little after the recent rise, with the Market Analyser showing the trade coming again. See snapshot below for this morning.
GBP - Channel Breakout
Good morning... Today we have seen a channel breakout on the GBPUSD. The T/P was showing us the support above the 200 MA and our order was triggered at 2.0405 for a move up to the 2.0450 level. Trends lines are very important in Trading and they give you a clear signal where the breakout will be...
Dow Jones Holds Strong...
The Dow Jones rallied 120 points yesterday, holding firm on the support line we showed you in the morning. The conductor, the T/P and the Trend Line showed us the support level, with a stop loss below and we smashed through the old high to 14,164.
Tuesday, 9 October 2007
Market Report, Tues 9th October 10pm
The FTSE closed up 74.5 points today at 6,615.4, whcih was almost at the day's high of 6,625. This ended with quite a turn from the session's low of the day, which was at 6,527. The FTSE 250 was up nearly 100 points at 11,417. New York followed, also doing well.
The Chancellor, Alistair darling, delivered a fairly non-eventful pre-budget report, thus giving some confidence back to investors. Northern Rock also faired well, finishing above the 200p level at 206.7p. This was a 20% leap, again on news that there may be some competition in the bidding, fast become a battle, it seems. Alliance and Leicester took note and finished up 13p at 786 on the day. Barclays also did well, up 3.5p at 665.5.
British land had a good day, finishing up a very healthy 55p at 1,147 on news that a Saudi investor of good blood may be building a stake. This rumour also helped hammerson (up 51p at 1,196), Liberty Intnl (up 33p at 1,178) and land Securities (up 43p at 1,693).
SABMiller, one we have been playing this last couple of months, gained another 21p finsihing at 1,487 on news of a JV with US brewer Coors. This help Scottish & Newcastle, up 15.5p at 637.5 by the close of play.
All the water firms had a good day after Southern Water Capital was acquired by a consortium. Severn (up 33p at 1,476), Scottish Southern Energy (up 37p at 1,515) and United Utilities (up 11.5p at 725.5) all had good days.
The miners had a mixed day over all. BHP was up 54p at 1,765 and RIO up 67p at 4,235. Both doing well, as did Xstrata, up 97p at 3,309. ANTO didn't fair as well, losing 7p (803.5), and Kazakhmys lost 39p (1,463).
Sainsbury's dropped 4.5p to 579.5 aftre that weekend report on the possible bid failure if a deal isn't struck by the Qatari investors with the pension fund by the weekend.
The house builders had a poor day over all with Barratts down 9.5p at 740, Redrow down 15.5p at 397.5, and Persimmon down 25p at 1,015 after UBS downgraded the sector to neutral.
One big jump on the day was Burren Energy, up a massive 258p to 1,180 after it tols us all that it had rejected a number of takeove approaches, including one bid at the 11-quid a share mark.
Carpetright was up 54p to 1,215 after the chairman, Lord Harris, had made a revised bid for the firm.
The Chancellor, Alistair darling, delivered a fairly non-eventful pre-budget report, thus giving some confidence back to investors. Northern Rock also faired well, finishing above the 200p level at 206.7p. This was a 20% leap, again on news that there may be some competition in the bidding, fast become a battle, it seems. Alliance and Leicester took note and finished up 13p at 786 on the day. Barclays also did well, up 3.5p at 665.5.
British land had a good day, finishing up a very healthy 55p at 1,147 on news that a Saudi investor of good blood may be building a stake. This rumour also helped hammerson (up 51p at 1,196), Liberty Intnl (up 33p at 1,178) and land Securities (up 43p at 1,693).
SABMiller, one we have been playing this last couple of months, gained another 21p finsihing at 1,487 on news of a JV with US brewer Coors. This help Scottish & Newcastle, up 15.5p at 637.5 by the close of play.
All the water firms had a good day after Southern Water Capital was acquired by a consortium. Severn (up 33p at 1,476), Scottish Southern Energy (up 37p at 1,515) and United Utilities (up 11.5p at 725.5) all had good days.
The miners had a mixed day over all. BHP was up 54p at 1,765 and RIO up 67p at 4,235. Both doing well, as did Xstrata, up 97p at 3,309. ANTO didn't fair as well, losing 7p (803.5), and Kazakhmys lost 39p (1,463).
Sainsbury's dropped 4.5p to 579.5 aftre that weekend report on the possible bid failure if a deal isn't struck by the Qatari investors with the pension fund by the weekend.
The house builders had a poor day over all with Barratts down 9.5p at 740, Redrow down 15.5p at 397.5, and Persimmon down 25p at 1,015 after UBS downgraded the sector to neutral.
One big jump on the day was Burren Energy, up a massive 258p to 1,180 after it tols us all that it had rejected a number of takeove approaches, including one bid at the 11-quid a share mark.
Carpetright was up 54p to 1,215 after the chairman, Lord Harris, had made a revised bid for the firm.
GBPJPY - Breakout
Our GBPJPY breakout proved to be correct. The Resistance held firm (as you can see from the chart below) and at 8am this morning the red conductor came in with a T/P and a short was taken below the 200 MA. We are now 120 points lower at the bottom of the channel...
GBP/USD - Falling Channel
GBPUSD has been in a downwards channel since yesterday. A red conductor appeared with a TP below the 2.0350 resistance level at 8.45am. Perfect sell signal...
Remember the key to this trade are the lower highs and trading with the Trend.
Remember the key to this trade are the lower highs and trading with the Trend.
JD Wetherspoon (JDW.L) hugs above 50-day MA
The Market Analyser picked JD Wetherspoon last week, showing decent volume coming back in to provide support. Check out the chart for 1st October ( http://mdsmarkets.blogspot.com/2007/10/market-report-monday-1st-october-2007.html ). A long swing trade was in order, which we half closed as we baulked at the 50-day Moving Average. However, this may have been hasty, as we see that the price wants to stay just above the line, which may mean we get further advancing. The fact there was so much volume and interest, as the group of indicators, showed, it could mean a return to positive territory, above to 20 and 50-day MAs is in order. We shall wait and see.
SABMiller (SAB.L)
An excellent power move was found by the Market Analyser in August as SABMiller (SAB.L), the South African brewery firm, came back off the 200-day Moving Average and has had a fantastic run since. There have been a couple of swing trades since, and now we would expect some slowing or cutting back again, after such a strong run. We are now tightening our stop loss with a possible over sell to become short if the chart shows the opportunity. If a distribution indicator comes in it will help the decision after such a good run. So watch for a fall - run a tight stop and maybe take a reverse trade down, possibly to the 20-day MA again.
Greggs (GRG.L) up off support
The Market Analyser has picked some excellent trades this last week, with Greggs being one of those coming off a support line. The news today of sales being up 5.9% seems to have been available to a few investors over the last few days as there has been some healthy buying for a day or two prior to the announcement. As it has turned so quickly we expect a breakthrough of the 20, 50 and 200-day Moving Averages. If this occurs we'll see some new support, although any upside is somewhat dependent on the market behaviour itself, of course.
Market Report, Tues 9th October 2007, 10am
The FTSE opened down but has recovered the drop as investors wait for Chancellor Darling's first pre-budget report. By 10am the FTSE was up at 6,582. This is in contrast to the Dow Jones, which closed down 22.28 points at 14,043.73 last night.
Northern Rock was up yet another 15% at 200p by 10am, quite a rise on the bid hopes and leaks on values etc. mainly coming from the US, where there is more interest building. Lone Star, a US Buy-Out firm, seem to be in the running now as well. Other banks followed the up trend with Barclays up 4p at 666 and Alliance and Leicester (almost at the top of the leader board this morning) up 18p at 791 by 10am. Bucking the trend, RBS was down, though, at 555 on a 5p drop.
Miners generally had fallen iun early trading, with the exception of Vedanta, who were up 43p at 2,128.
Next and Marks and Spencers were also having a good day so far, up 34p and 10p respectively.
A casualty this morning was Sainsbury's, who had a report on the chain saying the Qatari buy-out could be hampered if an agreement with the Sainsbury's pension trustees couldn't be sorted by the end of the week.
Northern Rock was up yet another 15% at 200p by 10am, quite a rise on the bid hopes and leaks on values etc. mainly coming from the US, where there is more interest building. Lone Star, a US Buy-Out firm, seem to be in the running now as well. Other banks followed the up trend with Barclays up 4p at 666 and Alliance and Leicester (almost at the top of the leader board this morning) up 18p at 791 by 10am. Bucking the trend, RBS was down, though, at 555 on a 5p drop.
Miners generally had fallen iun early trading, with the exception of Vedanta, who were up 43p at 2,128.
Next and Marks and Spencers were also having a good day so far, up 34p and 10p respectively.
A casualty this morning was Sainsbury's, who had a report on the chain saying the Qatari buy-out could be hampered if an agreement with the Sainsbury's pension trustees couldn't be sorted by the end of the week.
DJI - Support on Trend Line
The Dow Jones had a quiet day yesterday and was only down 22 points finding support on our Trend line at 14,020. This was the old high, going back a few weeks now...Should see an interesting day today with a potential push back to the two highs seen on the chart below at 14,115. Good luck...
GBPJPY - Potential Breakout
Good morning. Take a look at the GBPJPY chart below. We have been in a perfect channel for a week and yesterday saw a retracment back down to the support level at 238.00. This will be an interesting breakout either way, at some point today.
Market Report, Mon 8th October 2007, 7pm
The FTSE was 54.9 points lower today at 6,540.9. It had showed a high of 6,605 during the session, but the neutral start to the week showed what we expected with some negative feeling creeping back in.
The big mining stocks showing some weakness. BHP was down 34p at 1,711 and Rio Tinto was down 82p at 4,168 by the close of play. Kazakhmys was down 94p at 1,502, the largest % faller of the day, after it said that flood disruptions at the South Mine will slow its copper output this year. vedanta wasn't far behind with a 94p fall to 2,086, Xstrata was off 108p to 3,212 and Anglo American was down 87p at 3,256.
Banks weren't as bad. Royal Bank of Scotland fell 9p to 561p even after the consortium comprising of RBS, Fortis NV and Santander said it had secured about 86% of the acceptances required for the ABN Amro bid to go through. Northern Rock climbed again a very respecable 14p (8.8%) to 172.5 after more US interest, and Barclays was down 2p to 662 after it's failed ABN takeover left it looking a little vulnerable.
Brewer SABMiller had a good day, up 15p to 1,466 after a bullish broker statement.
The big mining stocks showing some weakness. BHP was down 34p at 1,711 and Rio Tinto was down 82p at 4,168 by the close of play. Kazakhmys was down 94p at 1,502, the largest % faller of the day, after it said that flood disruptions at the South Mine will slow its copper output this year. vedanta wasn't far behind with a 94p fall to 2,086, Xstrata was off 108p to 3,212 and Anglo American was down 87p at 3,256.
Banks weren't as bad. Royal Bank of Scotland fell 9p to 561p even after the consortium comprising of RBS, Fortis NV and Santander said it had secured about 86% of the acceptances required for the ABN Amro bid to go through. Northern Rock climbed again a very respecable 14p (8.8%) to 172.5 after more US interest, and Barclays was down 2p to 662 after it's failed ABN takeover left it looking a little vulnerable.
Brewer SABMiller had a good day, up 15p to 1,466 after a bullish broker statement.
Monday, 8 October 2007
AUD Retracement
Last week in the Aud USD saw a breakout from the resistance line. The retracement Pre Alerts indicated potential strength returning back into the market and we had a lovely 225 point run to its highs. Today has seen a slow retracement back towards its 200 MA after aggressive buying last week. Keep trading simple and look out for these breakout plays...
FTSE - Fallen through support line
Take a look at the Hourly FTSE chart. The Ftse was struggling to rally through the 6,600 level and as it fell through the support line we looked for a short trade to capitalise on a very quiet 40 points. The stop loss should have been above the 6,600 resistance level for protection.
Market Report, Monday 8th October 2007, 11am
A fairly neutral start to the week. Northern Rock jumped on further bid hopes, though, as people jumped on to a potenmtial short term gain. The stock rose 7% on early trading. Alliance & Leicester was also up as a spin off to this news.
We've had a good week on Wetherspoon (JDW.L), Greene King (GNK.L) and SABMiller (SAB.L), also NTG.L. Check out the charts. We take shots of befores and afters on these to show as training. We do post some as well, but don't want to be seen as tipping. SAB.L had a nice jump today again.
We'll post up some more charts later. We've been taking half profits today and last Friday on many stocks. It's been a wonderful few weeks. The Market Analyser has been picking some beauties.
We've had a good week on Wetherspoon (JDW.L), Greene King (GNK.L) and SABMiller (SAB.L), also NTG.L. Check out the charts. We take shots of befores and afters on these to show as training. We do post some as well, but don't want to be seen as tipping. SAB.L had a nice jump today again.
We'll post up some more charts later. We've been taking half profits today and last Friday on many stocks. It's been a wonderful few weeks. The Market Analyser has been picking some beauties.
NZD - Retracement Pre Alert
Good morning and welcome to another week...I know quite a few of you took this NZ trade on the 1 Hour chart. The Retracement and Open Channel Pre Alert came in early Thursday with a nice bounce off the MA and 0.7500 level. Over a couple of days, the trade made 160 points...Keep working off these longer time frames to maximise your profits.
08Oct07. Greene King (GNK.L) - Nice Swing Trade
Check out the Greene King (GNK.L) chart we posted up last week as it came off support. It had come up on a simple Market Analyser scan.
We are now running a tight stop on the stock. It's opened up quite level this morning and we're touching the 50-day MA. If we break through we may top up again.
We are now running a tight stop on the stock. It's opened up quite level this morning and we're touching the 50-day MA. If we break through we may top up again.
Friday, 5 October 2007
Market Wrap, Friday 5th October 2007, 7pm
The FTSE closed up nearly 48 points today at 6,595.8, with the miners all having a good day. The FTSE250 gained almost 20 points, closing up at 11,390.4.
The market seems to be doing ok considering the credit problems, Northern Rock, US subprime debts etc, but forecated UK growth is down a little at about 2.8%, compared to the current 3.1%. Analysts suspect that the economic situation will deteriorate, with the housing market a bit unsure and growth definitely slowing down.
Winners today included: BHP (up 43p to 1,175), RIO Tinto (up 119p to 4,250), Anglo American (up 95p to 3,343), ANTO (up 26p to 826) and Kazakhmys (up 70p to 1,596). A good day for the mining blue chips, indeed.
We also saw a decent rise in Cadbury's, who were up 15p at 600. YELL were up nearly 14p to 463 with a broker target of 540p, saying it felt there was too much of a discount built into the price after the recent lower growth news.
SABMiller was up 35p to 1,451 on rumours it may be bidding for Anheuser-Busch.
Easyjet had a good day, up 24p (4%) to 571.5 after it said it expected its profits to be at the higher end of forecasts.
Banks had a varied day, with RBS & Barclays both up about 0.8% each. Northern Rock, on the other hand, was down 3.2p at 158.5 after the bank announced it had taken anorther draw down from the Bank of England to the tune of £2.9bn. Alliance and Leicester fell 6% (or 58p to 794) after Deutche Bank gave it a 'sell' stance and a target of 775p. Not so bad, but also down was HBOS, whom ABN Amro downgraded to a 'Hold' stance, resukting in the bank being down 11p at 948.
Housing didn't fair too well, with Barratts being a faller, finishing the day down 33p at 766. They too had received a broker downgrade. Other builders, including Persimmon (off 17p to 1,050) and Taylor Wimpey (off 7.5p to 293.5) were also down on the day. British land ended the day down 40p at 1,124 after it told us yesetrday that it wsn't marketing its holding in the new Meadowhall Mall.
In the US it was reported that the labour market added 110k jobs in september, not far off the expected 115k. The US market was stronger today on the news.
Sterling (GBP) has been banted around as being a bit overvalued. We'll have to see how the forex market reacts.
The market seems to be doing ok considering the credit problems, Northern Rock, US subprime debts etc, but forecated UK growth is down a little at about 2.8%, compared to the current 3.1%. Analysts suspect that the economic situation will deteriorate, with the housing market a bit unsure and growth definitely slowing down.
Winners today included: BHP (up 43p to 1,175), RIO Tinto (up 119p to 4,250), Anglo American (up 95p to 3,343), ANTO (up 26p to 826) and Kazakhmys (up 70p to 1,596). A good day for the mining blue chips, indeed.
We also saw a decent rise in Cadbury's, who were up 15p at 600. YELL were up nearly 14p to 463 with a broker target of 540p, saying it felt there was too much of a discount built into the price after the recent lower growth news.
SABMiller was up 35p to 1,451 on rumours it may be bidding for Anheuser-Busch.
Easyjet had a good day, up 24p (4%) to 571.5 after it said it expected its profits to be at the higher end of forecasts.
Banks had a varied day, with RBS & Barclays both up about 0.8% each. Northern Rock, on the other hand, was down 3.2p at 158.5 after the bank announced it had taken anorther draw down from the Bank of England to the tune of £2.9bn. Alliance and Leicester fell 6% (or 58p to 794) after Deutche Bank gave it a 'sell' stance and a target of 775p. Not so bad, but also down was HBOS, whom ABN Amro downgraded to a 'Hold' stance, resukting in the bank being down 11p at 948.
Housing didn't fair too well, with Barratts being a faller, finishing the day down 33p at 766. They too had received a broker downgrade. Other builders, including Persimmon (off 17p to 1,050) and Taylor Wimpey (off 7.5p to 293.5) were also down on the day. British land ended the day down 40p at 1,124 after it told us yesetrday that it wsn't marketing its holding in the new Meadowhall Mall.
In the US it was reported that the labour market added 110k jobs in september, not far off the expected 115k. The US market was stronger today on the news.
Sterling (GBP) has been banted around as being a bit overvalued. We'll have to see how the forex market reacts.
USD/CAD Breakout...
For those of you who follow the USDCAD we have seen a perfect breakout with our orders being hit at 0.9950. The Triangle was forming just below the Moving Average and the combination of Pre Alert and T/P gave us a strong indication that the USD CAD was about to fall and it was just a matter of time.. A nice end to a great week!!!
Non Farm Payroll - GBP/USD
Non Farm Payroll is one of the most sort after Economic Alerts in the Market and can be a key indicator to Interest Rates. Take a look at the GBP/USD channel from 10.30am until the figure at 13.30. You often see a quiet period before a large announcement as no one wants to hold a position before it comes out. Today has seen a profitable 100 points down to 2.0300 and a strong bounce back to the original 2.0400 for another 100 points...Good luck!!!
Market Report Friday 5th October - 3.20pm
The US employment report leaves the Federal Reserve with a difficult decision when they meet to discuss interest rates later this month...The US economy added 200,000 jobs in the last two months and it looks like the Fed might have over reacted with the 0.50 point rate cut in September...
So after a lot of talk of recessions, maybe the US has avoided this downfall. The overall growth isn't looking amazing but at least they have taken action to assist the market. The Fed Vice Chairman said in a speech today that one rate cut would not offset all the effects of the Credit Crunch and hinted they might have to cut again. Well if that is the case the Markets will remain strong but a rate cut is definitely looking less likely than before.
This morning London opened up firmer, up 25 points in the first hour, with the miners all doing well.
So after a lot of talk of recessions, maybe the US has avoided this downfall. The overall growth isn't looking amazing but at least they have taken action to assist the market. The Fed Vice Chairman said in a speech today that one rate cut would not offset all the effects of the Credit Crunch and hinted they might have to cut again. Well if that is the case the Markets will remain strong but a rate cut is definitely looking less likely than before.
This morning London opened up firmer, up 25 points in the first hour, with the miners all doing well.
Thursday, 4 October 2007
Thursday, 05Oct07 - What a Day in the FTSE...
For those of you who are Scalping the FTSE market, we have seen great volatility between 6,500 and 6,600. We had the initial fall of 30 points but as the green market conductors started to turn they presented us with a great long trade from 6,520 up to the red conductor at 6,590. That's 70 points before 11am. Yes, 70 points.
At 14.00 the FTSE offered us another trade with a lower high and a lovely short back down to it's Moving Average, 25 points below. The Analyser picked up on the Retracement and as it started to turn long again, back through the 6,550 level, we looked for a buy position back to the blue resistance line making 20 points...
As you can see at 16.00, another sell order got triggered at 6,570 for a profitable 15 points before the close. All together a sounding 130 point profit in the making!
I know many of you successfuly traded this today from the feedback earlier. Well done...
At 14.00 the FTSE offered us another trade with a lower high and a lovely short back down to it's Moving Average, 25 points below. The Analyser picked up on the Retracement and as it started to turn long again, back through the 6,550 level, we looked for a buy position back to the blue resistance line making 20 points...
As you can see at 16.00, another sell order got triggered at 6,570 for a profitable 15 points before the close. All together a sounding 130 point profit in the making!
I know many of you successfuly traded this today from the feedback earlier. Well done...
USD/CHF Bounces off 1.1600
USD/CHF definitely found a support at 1.1600 and after rallying through 1.1700 retraced and bounced off the old resiatnce level for another 100 point gain. This is exactly the kind of Trade we look for on an Hourly Chart.. I know many of you got this Trade with the green conductor and the Turning Point appearing. Well done and keep up the good work...
Market Report, 4th October - 11.30am
After an initial fall of 20 points this morning we have seen a strong rally from 6,500 up to 6,590 - led by Financial firms...
There are key Interest Rate statements out today from the Bank of England and the European Central Bank. Rates are expected to remain unchanged at 5.75% with a potential view of them lowering rates again in the next 5 or 6 months.
The ECB should keep rates unchanged as well and the potential rise in Interest Rates in the future seems very uncertain.
Northern Rock has had another positive gain today, up to 163.50 with hopes of a potential rescue buyout. This we explained yesterday. It looks as if it's all gaining strength now.
The Dow Jones ended 80 points lower yesterday from its highs at 14,000. This is mainly due to the nervousness of Friday's Non Farm Report...
Good luck and be careful trading around Interest Rate statements as shocks do happen...
There are key Interest Rate statements out today from the Bank of England and the European Central Bank. Rates are expected to remain unchanged at 5.75% with a potential view of them lowering rates again in the next 5 or 6 months.
The ECB should keep rates unchanged as well and the potential rise in Interest Rates in the future seems very uncertain.
Northern Rock has had another positive gain today, up to 163.50 with hopes of a potential rescue buyout. This we explained yesterday. It looks as if it's all gaining strength now.
The Dow Jones ended 80 points lower yesterday from its highs at 14,000. This is mainly due to the nervousness of Friday's Non Farm Report...
Good luck and be careful trading around Interest Rate statements as shocks do happen...
Wednesday, 3 October 2007
Market Report, 3rd October 2007, 9pm
The FTSE closed higer today, with the possible rescue of Northern Rock giving a lift to the market. By the close the FTSE was up a healthy 34.8 points at 6,535.2. The intra-day high was at 6,542.8 just before lunchtime. The FTSE 250 closed up 128.8 points at 11,360.2.
Among the risers today were British Airways (up nearly 16p to 425), who announced a 6.6% increase in premium traffic, Old Mutual, who plan a £350m share buyback, and Northern Rock, up 16.2p to 151.8 on the JC Flowers bid hopes that we mentioned this morning.
Northern Rock helped other banks, with Barclays up 19p to 640 and Alliance and Leicester up 58p to 880 on further Northern Rock bid possibilities and a possible share buy-back scheme as well. RBS was up over 15p to 554 as it tried to sell its hotels again, for the third time.
Yell was up nearly 12p to 448 after Merrills said they reckoned it had a 560p target and should be added to one's portfolio.
The builders had a good day as well, with Barratts up 26p to 807 and Persimmon up 34p to 1,085.
Casulaties of the day were Vodafone, which was down 4.4p to 171.1 and Home Retail Group, who were down over 9p to 398. Oil majors RD Shell and BP were also both down due to the oil price falling a little.
What makes many of the above interesting is how the Market Analyser picks these a few days in advance. These broker upgrades always come soon after there's already been a little flurry on buying, and such-like. Keep scanning, that's what we say.
Among the risers today were British Airways (up nearly 16p to 425), who announced a 6.6% increase in premium traffic, Old Mutual, who plan a £350m share buyback, and Northern Rock, up 16.2p to 151.8 on the JC Flowers bid hopes that we mentioned this morning.
Northern Rock helped other banks, with Barclays up 19p to 640 and Alliance and Leicester up 58p to 880 on further Northern Rock bid possibilities and a possible share buy-back scheme as well. RBS was up over 15p to 554 as it tried to sell its hotels again, for the third time.
Yell was up nearly 12p to 448 after Merrills said they reckoned it had a 560p target and should be added to one's portfolio.
The builders had a good day as well, with Barratts up 26p to 807 and Persimmon up 34p to 1,085.
Casulaties of the day were Vodafone, which was down 4.4p to 171.1 and Home Retail Group, who were down over 9p to 398. Oil majors RD Shell and BP were also both down due to the oil price falling a little.
What makes many of the above interesting is how the Market Analyser picks these a few days in advance. These broker upgrades always come soon after there's already been a little flurry on buying, and such-like. Keep scanning, that's what we say.
Market Report, Wednesday 3rd October 2007, 10am
London shares played fairly level early on this morning. Profit taking overnight in the Far East and the weaker mining sector meant a flat start.
Northern Rock, on the other hand, had a jump up over 10p to 133p following a report in this morning's Financial Times thatsaid JC Flowers (a private equity group) had organised a firm £15 billion of funding to be used for a takeover. Apparnelty the Flowers' team are to meet with the bank's advisers.
By 9am, the FTSE 100 was up about 3 points at 6,504 having retreated from an opening high of 6,535.2, this slight jump mainly due to the Northern Rock rumour. The FTSE 250 was up 10 at 11,242.
Last night in the US, the Dow fell 40.24 points to 14,047.3, the SandP 500 fell slightly (down 0.41) to 1,546.63, while the Nasdaq rose 6.12 to 2,747.11.
In Asia, the blue-chip Nikkei 225 Stock Average closed up 153.11 points at 17,199.89, back uyp to 31st July levels, while the Hang Seng was down 818.83 at 27,380.92. Hong Kong fell mainly due to fears that heavily exposed China companies might have and/or incur large and even hidden debts.
Northern Rock, on the other hand, had a jump up over 10p to 133p following a report in this morning's Financial Times thatsaid JC Flowers (a private equity group) had organised a firm £15 billion of funding to be used for a takeover. Apparnelty the Flowers' team are to meet with the bank's advisers.
By 9am, the FTSE 100 was up about 3 points at 6,504 having retreated from an opening high of 6,535.2, this slight jump mainly due to the Northern Rock rumour. The FTSE 250 was up 10 at 11,242.
Last night in the US, the Dow fell 40.24 points to 14,047.3, the SandP 500 fell slightly (down 0.41) to 1,546.63, while the Nasdaq rose 6.12 to 2,747.11.
In Asia, the blue-chip Nikkei 225 Stock Average closed up 153.11 points at 17,199.89, back uyp to 31st July levels, while the Hang Seng was down 818.83 at 27,380.92. Hong Kong fell mainly due to fears that heavily exposed China companies might have and/or incur large and even hidden debts.
Tuesday, 2 October 2007
Market Report, 2nd October 2007, 9pm
The FTSE ended up down on the day, but not by too much. At the close of play it was down nearly 6 points at 6,500.4. The FTSE250 faired much better over the session, ending up 150 points at 11,231.
Tesco announced some good news today, reporting a 4.3% rise in its first half earnings, which equated to an 18% profit rise, ending the day up 27.5p at 463p.
Findel, who we have been showing the last week or two, finally let us know why there had been so much 'knowledgeable' buying, which was picked up by the Market Analyser, when it announced record sales. We do like these perfect trades, all picked out early by the Market Analyser.
Another good day for Kingfisher, whom HSBC said were a good buy, who were the best performer of he day - finishing up 13.5p to 196p. HSBC gave a target of 235p.
Home Retail Group, who the Market Analyser also picked out the other day, added 18.75p finishing up at 407.5p.
ITV (up 3.8p to 105p) and BSkyB (up 3.5p to 687.5p) both finished positive as news of the UK Competition Commission said that BSkyB's holding in ITV (17.9%) "wasn't fair" and was anti-competitive.
The Builders did well today, with Persimmon (up 59p to 1,051p), Barratts (up 31.5p to 781p) and Taylor Wimpey (up 13p to 288.75p) all fairing well.
After a poor start, Northern Rock ended the day up 5.6p (4.2%) after it was announced F&C were buying 10%. Other banks saw this as good news as they all attracted the money with Alliance and Leicester (up 43p to 822p), Barclays (up 20p at 621p) an HBOS (up 39p at 950p) all doing well.
In the negative were water companies, with Severn & Northumbrian both losing a bit on the day. Other fallers of significance were the miners. Anglo and BHP were both down 80p each (3,280p and 1,735p respectively), RIO was down 114p to 4,215p, and Vedanta was down 62p (2,062p).
Crude oil prices were down about a buck, whic in turn gave BG Group reason to shed some price (down 33p to 820.5p) and the two major oilers, BP (down 6p to 557.5p) and RD Shell (down 58p to 1,968p) were both casualties too.
Tesco announced some good news today, reporting a 4.3% rise in its first half earnings, which equated to an 18% profit rise, ending the day up 27.5p at 463p.
Findel, who we have been showing the last week or two, finally let us know why there had been so much 'knowledgeable' buying, which was picked up by the Market Analyser, when it announced record sales. We do like these perfect trades, all picked out early by the Market Analyser.
Another good day for Kingfisher, whom HSBC said were a good buy, who were the best performer of he day - finishing up 13.5p to 196p. HSBC gave a target of 235p.
Home Retail Group, who the Market Analyser also picked out the other day, added 18.75p finishing up at 407.5p.
ITV (up 3.8p to 105p) and BSkyB (up 3.5p to 687.5p) both finished positive as news of the UK Competition Commission said that BSkyB's holding in ITV (17.9%) "wasn't fair" and was anti-competitive.
The Builders did well today, with Persimmon (up 59p to 1,051p), Barratts (up 31.5p to 781p) and Taylor Wimpey (up 13p to 288.75p) all fairing well.
After a poor start, Northern Rock ended the day up 5.6p (4.2%) after it was announced F&C were buying 10%. Other banks saw this as good news as they all attracted the money with Alliance and Leicester (up 43p to 822p), Barclays (up 20p at 621p) an HBOS (up 39p at 950p) all doing well.
In the negative were water companies, with Severn & Northumbrian both losing a bit on the day. Other fallers of significance were the miners. Anglo and BHP were both down 80p each (3,280p and 1,735p respectively), RIO was down 114p to 4,215p, and Vedanta was down 62p (2,062p).
Crude oil prices were down about a buck, whic in turn gave BG Group reason to shed some price (down 33p to 820.5p) and the two major oilers, BP (down 6p to 557.5p) and RD Shell (down 58p to 1,968p) were both casualties too.
60 Points in USD/JPY today...
I trust you are all having a good day. The Hourly JPY chart below is a great example of a profitable and consistent trade. The low based on the 200 MA in the early hours of this morning. The Conductor came in at 6am at 115.30 and profit was taken 60 points higher at 115.90 before the resistance level of 116.00...
Findel now up nearly 100 points !!
The Market Analyser picked us Findel (FDL.L) about a week or so ago (see previous blog post on FDL) and has shown some 15-20% rise since it came out at the support level. Always wait for the turn and then make your decision. The Market Analyser at its best. Check out today's price below. Click on chart to make larger.
AUD/USD 1000 Points in 6 weeks
I hope you are all appreciating how important it is to look at the Daily chart. A follow on from the Blog below with the Nzd/Usd, we have seen an extremely powerful move back up the highs of 0.8900 from the support level of 0.7800. The 200 MA was the first support level at the beginning of Setember and from there the Aud has strengthened to these highs. The golden rule has always been, 'Trade with the Trend'!!!
Market Report, Tues 2nd October 2007, 9:45am
After gapping up some 55 points this morning, by 9:45 the FTSE was at 6,540, with the bullish feeling hanging around after yesterday's record Dow. The UBS & Citigroup write downs seem to be taken on the chin without too much of a flinch as both seem to be on for normal earnings levels.
Banks and Builders were up this morning...
Banks - Barclays & HBOS (both up 4%), RBS (up 2.75%) and LLoyds (up 2%) all doing well.
Builders - Taylor Woodrow (up 5%) leading the way, with Persimmon (up 4% this morning) & Barratts (up 3% this morning) also doing well.
The miners weren't fairing so well, with ANTO (down 2.5%), Kazakhhyms (down 1.1%), BHP (down 1.3%) and Vedanta (down 1.4%).
Note Findel (FDL.L), the the stock the analyser picked the other day was up over 30p today.
Banks and Builders were up this morning...
Banks - Barclays & HBOS (both up 4%), RBS (up 2.75%) and LLoyds (up 2%) all doing well.
Builders - Taylor Woodrow (up 5%) leading the way, with Persimmon (up 4% this morning) & Barratts (up 3% this morning) also doing well.
The miners weren't fairing so well, with ANTO (down 2.5%), Kazakhhyms (down 1.1%), BHP (down 1.3%) and Vedanta (down 1.4%).
Note Findel (FDL.L), the the stock the analyser picked the other day was up over 30p today.
NZD/USD - 600 Point move in 3 weeks...
Good morning... It is always worth looking at the Aud/Usd and Nzd/Usd for controlled moves. The Trade was picked up perfectly with an Open Channel Alert and as we found the base at 0.6800 we made the attack back towards 0.7000. The higher low on the 10th September proved to me the buyers were back in force and a trade long just above the 0.7000 led to an excellent move back up to these higher levels...
Monday, 1 October 2007
186 Points up in the Dow
The Dow and the FTSE have had a general Bullish feeling about them for the last couple of weeks and today's run at the old high is no surprise. The Analyser has picked up both channel breakouts (on the Intraday chart) with excellent potential profit making...Remember volatility around new highs will always increase as traders will execute new buy and sell orders...
Market Report, Monday 1st October 2007, 6pm
After a shaky start we ended in positive territory, up almost 40 points on the day. We weren't sure the day would finish up as there was some downbeat feeling around prior to the market opening this monring, mainly due to the US close down on Friday and the Northern Rock situation. New York had a nice opening, hitting a new record, which helped London.
Rumours of a takeover gave Tate and Lyle recovered some of the losses of last week, up 37 points to 440p.
A nice day for the miners. ANTO was up 40p, Xstrata up 118 to 3,362p, and Anglo was up 71p to 3,360p.
Northern Rock, on the other hand, had a bad day. Down a massive 26% it closed at 132p on rumours that the troubled bank would be bought for 'a bean'. Or at a highly discounted rate, anyway. The Spanish guy, who was rumoured to be taking 10%, has also pulled out. The bank said that it had received loads of approaches but no firm talks had taken place as yet. It is said, though, that a couple of US Hedge Funds have been given the nod to take a look at the bank.
Meanwhile, by 6pm the Dow Jones was climbing through 14,000 again. If it caries on at this pace we'll need oxygen up there. Reports by the US Government that the economy and labor market isn't as bad as expected seems to be giving a boost to the market. We're not sure how long this can be sustained. One feels a decent short trade could be looming somewhere.
A Market Analyser scan today brought up Greene King (GNK.L). Looks like it is coming off a support level. The candles are shaping nice. We'll go long if it opens up.
Rumours of a takeover gave Tate and Lyle recovered some of the losses of last week, up 37 points to 440p.
A nice day for the miners. ANTO was up 40p, Xstrata up 118 to 3,362p, and Anglo was up 71p to 3,360p.
Northern Rock, on the other hand, had a bad day. Down a massive 26% it closed at 132p on rumours that the troubled bank would be bought for 'a bean'. Or at a highly discounted rate, anyway. The Spanish guy, who was rumoured to be taking 10%, has also pulled out. The bank said that it had received loads of approaches but no firm talks had taken place as yet. It is said, though, that a couple of US Hedge Funds have been given the nod to take a look at the bank.
Meanwhile, by 6pm the Dow Jones was climbing through 14,000 again. If it caries on at this pace we'll need oxygen up there. Reports by the US Government that the economy and labor market isn't as bad as expected seems to be giving a boost to the market. We're not sure how long this can be sustained. One feels a decent short trade could be looming somewhere.
A Market Analyser scan today brought up Greene King (GNK.L). Looks like it is coming off a support level. The candles are shaping nice. We'll go long if it opens up.
FTSE - What a start to the week!!!
Good morning... Take a look at the FTSE chart today. Monday's always bring a little excitement to the start of the week... This mornings trade was a long at 6,427 with a Take Profit at 6,490. That's a 63 Point Profit before 10am.
Remember to wait for a retracement before a long trade. This way the market flushes out the small longs and a larger move can occur back up!!!
Good luck and have a great week.
Remember to wait for a retracement before a long trade. This way the market flushes out the small longs and a larger move can occur back up!!!
Good luck and have a great week.
Market Report, Monday 1st October 2007, 10am
London opened the weak down, under a bit of pressure after New York had closed down on Friday. UBS being the main cause this morning, with reports that it has written off billions of dollars. After an initial gap down the FTSE recovered somewhat by 9am back to 6,460 and by 9:30 we were in positive territory. Not sure how long for...
The Northern Rock saga continues, with a further fall of 27 points to 152p in early trading. There are reports that the sale of Northern Rock is doomed, so a negative feeling is in the air. The Sunday Express reported that the bank was 'doomed', woith no hope of a deal succeeding. Panmore Gordon cut its target for the bank to 100p. Other banks were also down, including Barclays, which was off 6p at 590p. Lloyds TSB was 4p lower and Alliance & Leicester down 13p. The reports that massive firm UBS has written off billions of dollars this year giving more weight to the pressure on the banking sector in general.
The mining sector was also down in ealry trading, with Rio (off 30p), Anto (off 20p) and BHP (off 5p) all down.
Tate & Lyle is up, though, with 10p added on news of a possible takeover. Good news after the the profit warning issued by the company on Friday.
The Market Analyser has picked up JD Wethersoon, which is showing some decent support level interest. The break up will be a decent swing trade, we feel. See chart today shown below:
The Northern Rock saga continues, with a further fall of 27 points to 152p in early trading. There are reports that the sale of Northern Rock is doomed, so a negative feeling is in the air. The Sunday Express reported that the bank was 'doomed', woith no hope of a deal succeeding. Panmore Gordon cut its target for the bank to 100p. Other banks were also down, including Barclays, which was off 6p at 590p. Lloyds TSB was 4p lower and Alliance & Leicester down 13p. The reports that massive firm UBS has written off billions of dollars this year giving more weight to the pressure on the banking sector in general.
The mining sector was also down in ealry trading, with Rio (off 30p), Anto (off 20p) and BHP (off 5p) all down.
Tate & Lyle is up, though, with 10p added on news of a possible takeover. Good news after the the profit warning issued by the company on Friday.
The Market Analyser has picked up JD Wethersoon, which is showing some decent support level interest. The break up will be a decent swing trade, we feel. See chart today shown below:
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