The FTSE started the last day of the trading week with 12 points gap up. By 10am we were up 50 points on yesterday's close at 6,388, and the FTSE 250 was up over 95 points at 10,751.
Over the pond the DJI closed up 22 points at 13,311 last night, which is a 4.5% rise on the week so far. The S&P 500 closed up fairly even at 1,469.7 and the Nasdaq also closed slightly up at 2,668, which was 5.2 points to the good on the day.
Also worth noting was the price of the black stuff is now back at US$91.02 bbl for Light Sweet (Jan), and Brent is back at US$90.1 (also Jan delivery). This is about a 9% drop since the recent nudging of $100 bbl for Light Sweet.
Today in the Far East the Nikkei 225 closed up almost 667p at 15,680.67 and in Hong Kong, by their lunchtime, the the Hang Seng was up about 175 points at 28,658. It's worth looking at the Nikkei 225 chart this week. We went long a week or two ago and got stopped out, but got back in again on the next cluster of inmdicators. Check it out. It's been a good trade.
Back to the UK this morning, the miners were all up the top of the leader board today, with Anglo up 135p at 3,288, Xsrata up 110p at 3,417, Anto up 18p at 772, Lonmin was up 50p at 3,237, and Vedanta up 70p at 2,260. BHP and Rio wewre also in positive territory, with rises of nearly 1.5% each, up 24p and 80p respectively.
Other positive news was around the banks, with Barclays up 19p (3.5%) at 558, Standard Chartered up 45p at 1,840, RBS up 12p at 445, and HBOS up 15p at 799.
Insurers were also up, with the Pru up 20p at 678, Standard Life up 9p at 259, and Aviva up 15p at 688.
Sage Group continued its rise with a 3.6% rise this morning, up 7p at 218p, after a broker upgrade and 255p target.
Some positive feeling was also returning to the building sector as Barratts was up 7p at 466 and Persimmons up 8p at 781p.
Plumb Centre and Bath Shop king Wolseley continued its turn off the recent bathroom floor with a 3rd positive day, up 13p at 677.
Recent M&A news suspect Mitchell & Butlers saw an early fall of of 30p to 556 after broker downgrade to 590p from 840p. The deal M&B were in for doesn't look as attractive now the figures and options have been studied, it seems.
Another negative this morning was BskyB, down 12p at 622.5 on broker downgrade.
Friday, 30 November 2007
Thursday, 29 November 2007
Thurs 29th Nov - USDCAD Trade
Good evening
Well the currency markets do try and test us on a daily basis and after a big fall in GBP earlier this morning there have been very few opportunities that fit our strategy.
USDCAD had the perfect setup not long ago at 5pm. From 10.30am this morning the USD strengthend and after a short retracement the perfect trade appeard. Remember i only buy after a sell off, so i know it has strength to move up. The green conductor alerted us at 5pm and with the candles bouncing off the 200MA, a solid 50 point trade was there to be taken. The stop loss should be below the 0.9900 level...
You often have to be patient but a trade like this is worth waiting for...
Well the currency markets do try and test us on a daily basis and after a big fall in GBP earlier this morning there have been very few opportunities that fit our strategy.
USDCAD had the perfect setup not long ago at 5pm. From 10.30am this morning the USD strengthend and after a short retracement the perfect trade appeard. Remember i only buy after a sell off, so i know it has strength to move up. The green conductor alerted us at 5pm and with the candles bouncing off the 200MA, a solid 50 point trade was there to be taken. The stop loss should be below the 0.9900 level...
You often have to be patient but a trade like this is worth waiting for...
Market Wrap, Thursday 29th November 2007, 6.30pm
The FTSE finsihed up today by 42.9 points at 6,349.1 after a nice trader's day, with quite a few winning, obvious swinging cycles for most of the session. We're all smiling here.
By the time London closed the DJI was up about 31 points at 13,220, the S&P 500 was just about even at 1,469 and the Nasdaq about 10 points higher at 2,673. The US had gapped down, but recovered as news was taken deeper than face value. Earlier major retailers had posted weaker figures, and after the last two days there was some opinion that it had jumped a bit quick, it seems. However, it soon closed the gap with investors moving on from yesterday.
As oil price rose so the majors strengthened. BP was up 10.5p today at 587.5 as revenues looked on the rise again. BG Group also closed up 19p higher at 984.
As we mentioned this morning, the commodities were up after rcent pressure, with Vedanta having a very nice day - up 158p to 2,192 on rumours of a 25-quid bid was doing the rounds. Xstrata was 152p up at 3,313, Anto up 52p at 755, Anglo up just shy of two-quid at 3,154, Rio up 237p at 5,637 and its stalking bidder, BHP, up 49p at 1,618. A healthy day for the miners.
Following on from this morning, back-in-favour bank Alliance & Leicester closed up over 50p at 686 as it boasted to its investors that all was well at the mill and it expected operating profit ahead of forecasts and it had secured some funding without having to go to the Bank of England. Peers RBS & Barclays didn't do as well as word was about that there is soon to be an announcement of £12 bln in write downs on bad debt by RBS (down 1.25p at 443.25) and Barclays was off 14p at 540 on profit taking after its recent surge. HBOS also fell today, closing down 4p at 785p, and HSBC followed with a 5p fall to 814p on broker downgrade and lowewred target of 7-quid from 920p.
Retailers didn't do so well, either, as the poor figures from the US weighted on the UK bigger players. Next was down 8p at 1,727, Marks and Sparks down 14.5p at 594.5 and Home Retail Group was down 5.25p at 350p.
DSG International was also down, with nearly a 5p fall to close at 113.5 on a broker downgrade and a lowered target.
Mitchells & Butlers had a very bad day, which we mentioned this morning, as it announced profits slightly down on last year and subsequent broker downgrade. Other pub operators fell too, with JD Wetherspoons down nearly 20p at just over 400p and Punch down 32p to 839p.
By the time London closed the DJI was up about 31 points at 13,220, the S&P 500 was just about even at 1,469 and the Nasdaq about 10 points higher at 2,673. The US had gapped down, but recovered as news was taken deeper than face value. Earlier major retailers had posted weaker figures, and after the last two days there was some opinion that it had jumped a bit quick, it seems. However, it soon closed the gap with investors moving on from yesterday.
As oil price rose so the majors strengthened. BP was up 10.5p today at 587.5 as revenues looked on the rise again. BG Group also closed up 19p higher at 984.
As we mentioned this morning, the commodities were up after rcent pressure, with Vedanta having a very nice day - up 158p to 2,192 on rumours of a 25-quid bid was doing the rounds. Xstrata was 152p up at 3,313, Anto up 52p at 755, Anglo up just shy of two-quid at 3,154, Rio up 237p at 5,637 and its stalking bidder, BHP, up 49p at 1,618. A healthy day for the miners.
Following on from this morning, back-in-favour bank Alliance & Leicester closed up over 50p at 686 as it boasted to its investors that all was well at the mill and it expected operating profit ahead of forecasts and it had secured some funding without having to go to the Bank of England. Peers RBS & Barclays didn't do as well as word was about that there is soon to be an announcement of £12 bln in write downs on bad debt by RBS (down 1.25p at 443.25) and Barclays was off 14p at 540 on profit taking after its recent surge. HBOS also fell today, closing down 4p at 785p, and HSBC followed with a 5p fall to 814p on broker downgrade and lowewred target of 7-quid from 920p.
Retailers didn't do so well, either, as the poor figures from the US weighted on the UK bigger players. Next was down 8p at 1,727, Marks and Sparks down 14.5p at 594.5 and Home Retail Group was down 5.25p at 350p.
DSG International was also down, with nearly a 5p fall to close at 113.5 on a broker downgrade and a lowered target.
Mitchells & Butlers had a very bad day, which we mentioned this morning, as it announced profits slightly down on last year and subsequent broker downgrade. Other pub operators fell too, with JD Wetherspoons down nearly 20p at just over 400p and Punch down 32p to 839p.
Morning Market, Thursday 29th November 2007, 10am
The FTSE gapped up nearly 40 points and by 9am was up at 6,363, but by 10am had fallen back to 6,286. We still feel there is some positives around, though, and with yesterday's 165 point rise we could have a nice day today. The intra-day chart currently a trader's dream.
Last night in the US the DJI was up 331 points at 13,289 - quite a nice day, and with the previus day positive as well, there are some investors returning, especially as the Fed's imply that there's another interest rate coming.
Over in the Far East today the Nikkei 225 Stock Average closed up almost 360 points at 15,513, that's a 2.4% rise on the day, and in Hong Kong the Hang Seng finished up 1,111 points at 28,482, which is up over 4% on the day.
Here at home, the top of the leader board by 10am was Alliance & Leicester, up at 695p, which is up about 60p on yesterday's close. This after the bank reassured investors it was financially ok and could even be in front this year on profits. The bank did say it had secured some funding, though, but not from the Bank of England. Broker upgrade followed, which will in turn hopefully help the share price recover some more, as it has recently been at half its value of 6 months ago. There are also reports that Abbey Bank owner, the Bank of Santander, may be moving in with a bid.
Miners were having a better morning as commodities turned up after some recent pressure. By 10am this morning Vedanta was up 88p at 2,122, Xstrata up 35p at 3,196 and Anto was up 11.5p at 714.5.
Recent M&A suspect Mitchells & Butlers was down was 23p down at 598 on figures that were just about as expected. The Harvester Restaurant and All Bar One owner said it was interested in offloading some of its properties. Broker downgrade followed.
Last night in the US the DJI was up 331 points at 13,289 - quite a nice day, and with the previus day positive as well, there are some investors returning, especially as the Fed's imply that there's another interest rate coming.
Over in the Far East today the Nikkei 225 Stock Average closed up almost 360 points at 15,513, that's a 2.4% rise on the day, and in Hong Kong the Hang Seng finished up 1,111 points at 28,482, which is up over 4% on the day.
Here at home, the top of the leader board by 10am was Alliance & Leicester, up at 695p, which is up about 60p on yesterday's close. This after the bank reassured investors it was financially ok and could even be in front this year on profits. The bank did say it had secured some funding, though, but not from the Bank of England. Broker upgrade followed, which will in turn hopefully help the share price recover some more, as it has recently been at half its value of 6 months ago. There are also reports that Abbey Bank owner, the Bank of Santander, may be moving in with a bid.
Miners were having a better morning as commodities turned up after some recent pressure. By 10am this morning Vedanta was up 88p at 2,122, Xstrata up 35p at 3,196 and Anto was up 11.5p at 714.5.
Recent M&A suspect Mitchells & Butlers was down was 23p down at 598 on figures that were just about as expected. The Harvester Restaurant and All Bar One owner said it was interested in offloading some of its properties. Broker downgrade followed.
Wednesday, 28 November 2007
Market Wrap, Wednesday, 28th November 2007
The FTSE rallied today, after a slight turn down early on. It opened up, fell back, and then had a nice rally after about 10am, closing up a very healthy 165.5 points at 6,306.2. The low of the day was 6,041, which was in the first hour. The FTSE 250 closed up 300 points at 10,591.5.
The US had a nice morning after the Fed implied there could be another fall in interest rates over there. By London's close the DJI was up 225 at 13,183, the S&P500 was up about 25 points at 1,454 and the Nasdaq up about 60 points at 2,642.
Back in London, Barclays had a nice day too, up a healthy 26.5p at 550.5, with brokers quite happy at the recent 'owning up' of bad debt write offs and forecasts still on track. Alliance & Leicester followed, up 44p at 641p on rumours of a Bank of Santander bid. They already own Abbey, don't forget.
The miners also faired well, even though commodities had taken hits recently. Anto was up 28p at 686.5, Xstrata up 117p at 3,127 and BHP up 16p at 1,534. BHP are still after Rio, too, with a nigh-on £62 bln bid. Whilst talking of BHP, they also excerised option on Falkland Oil & Gas's licenses for the Sorth Atlantic region. Falkland Oil was up 0.5p at 5.25p. BHP now has about 51%, up from 40%, of Falkland Oil.
High riser of the day, though, was Sage, the business software giant. It was up 19.5p at 213.0, after the business management software solutions supplier said its 12-month PBIT was up to £223.3m from last year's £221.2m on decent income growth. Brokers remained bullish, with buy rating remaining and and pleasure on news of a 7p divi.
Compass was up 27p at 316 on a good set of 12-month earnings, up nearly 42% on last time out. As we mentioned this morning, the new management incentives and bonuses seem to be working wonders and the firm lifted its divi to 10.8p a share, up 7% on last year. Broker upgrade followed the news.
British Airways was up 25p to 342.5 mainly on the lowering of the price of oil, as well as broker upgrade, which said it was well positioned in the market. Also, there was the Alitalia interest as well, which we skipped over earlier today. BA is apparently keen to have a look at muscling in on any privatisation deal of the Italian flag carrier that is coming along.
Talking of aeroplanes, aircraft jet engine maker Rolls-Royce Group was feeling pleased with itself after gaining engine orders for 6 twin-engined Airbus A330 aircraft. Rolls-Royce shares rose 18.5p to 519.5.
Electrical retailer DSG International closed 5.7p up at 118.2 after Europe's reporting 6 month results in line with expectations, although it said it was cautious for 2008 but did expect a nice Xmas. Our feelings on everything, I'll add.
The Pru was up 36.5p to 660.5 as it announced cost cutting measures to save £60m a year. This included shedding 3,000 jobs, with 1,750 of them UK-based and the other 1,250 Indian-based. These 3k jobs will be outsourced to Capita Group.
And this is a first for a while - by the close of play there wasn't one red price on the top 100 board. Yep, not a single FTSE 100 faller. Hooray. I feel better already.
Mortgage specialist Paragon received boker uopgrade and finsihed up 14p at 138p with a target lifted from 145p to 175p.
And as we mentioned this morning, Burren Energy was popular, finishing up 43p at 1,116 one renewed bid rumours from Eni.
The US had a nice morning after the Fed implied there could be another fall in interest rates over there. By London's close the DJI was up 225 at 13,183, the S&P500 was up about 25 points at 1,454 and the Nasdaq up about 60 points at 2,642.
Back in London, Barclays had a nice day too, up a healthy 26.5p at 550.5, with brokers quite happy at the recent 'owning up' of bad debt write offs and forecasts still on track. Alliance & Leicester followed, up 44p at 641p on rumours of a Bank of Santander bid. They already own Abbey, don't forget.
The miners also faired well, even though commodities had taken hits recently. Anto was up 28p at 686.5, Xstrata up 117p at 3,127 and BHP up 16p at 1,534. BHP are still after Rio, too, with a nigh-on £62 bln bid. Whilst talking of BHP, they also excerised option on Falkland Oil & Gas's licenses for the Sorth Atlantic region. Falkland Oil was up 0.5p at 5.25p. BHP now has about 51%, up from 40%, of Falkland Oil.
High riser of the day, though, was Sage, the business software giant. It was up 19.5p at 213.0, after the business management software solutions supplier said its 12-month PBIT was up to £223.3m from last year's £221.2m on decent income growth. Brokers remained bullish, with buy rating remaining and and pleasure on news of a 7p divi.
Compass was up 27p at 316 on a good set of 12-month earnings, up nearly 42% on last time out. As we mentioned this morning, the new management incentives and bonuses seem to be working wonders and the firm lifted its divi to 10.8p a share, up 7% on last year. Broker upgrade followed the news.
British Airways was up 25p to 342.5 mainly on the lowering of the price of oil, as well as broker upgrade, which said it was well positioned in the market. Also, there was the Alitalia interest as well, which we skipped over earlier today. BA is apparently keen to have a look at muscling in on any privatisation deal of the Italian flag carrier that is coming along.
Talking of aeroplanes, aircraft jet engine maker Rolls-Royce Group was feeling pleased with itself after gaining engine orders for 6 twin-engined Airbus A330 aircraft. Rolls-Royce shares rose 18.5p to 519.5.
Electrical retailer DSG International closed 5.7p up at 118.2 after Europe's reporting 6 month results in line with expectations, although it said it was cautious for 2008 but did expect a nice Xmas. Our feelings on everything, I'll add.
The Pru was up 36.5p to 660.5 as it announced cost cutting measures to save £60m a year. This included shedding 3,000 jobs, with 1,750 of them UK-based and the other 1,250 Indian-based. These 3k jobs will be outsourced to Capita Group.
And this is a first for a while - by the close of play there wasn't one red price on the top 100 board. Yep, not a single FTSE 100 faller. Hooray. I feel better already.
Mortgage specialist Paragon received boker uopgrade and finsihed up 14p at 138p with a target lifted from 145p to 175p.
And as we mentioned this morning, Burren Energy was popular, finishing up 43p at 1,116 one renewed bid rumours from Eni.
FX, Oil and Indices Report - Wed 28 Nov 07
Well it's a miserable day outside so what a perfect day to trade...We have seen perfect setup's today, to make our lives easier and bring the probability of success even higher...
Oil has been the flavour of the month and the increased volatility brings us greater opportunity to make money. Take a look at the january contract below to see how we could have traded . We have seen a consistent rise bouncing off our support line from $90 all the way to $99. Last wednesday and and this monday bought us a double top pattern which is a key trend reversal pattern. The oil price was always going to find it difficult to break the $100 level so as it fell through the support line many sell orders were taken at $97...Yesterday saw the break below the 200MA and as it retraced slightly it was met with vigorous selling at $95.
The reason it fell was due to a government report showing the U.S. supplies had declined less than expected and that refineries had increased fuel output. This move really instigates how negative that report was on the market and should lead to an interesting few days ahead...
EURUSD has seen a good days trading and after all the gains we have finally seen a aretracement. Overnight trading in Asia bought us a descending triangle witha red conductor. Look how the MA's hover below the 200MA showing us a potential downtrend. many sell orders were sitting just below 1.4800 for a quick 80 points in london's trading...
USDJPY had the perfect setup as well. Overnight trading in Asia gave us the perfect retracement off the 200MA. Look at all the indictaors sitting nicely below the 200MA. Our stop loss should be below 108.00 and consequently we have seen a solid 200 point move...
GBPJPY has taken a similar setup to the USDJPY and the Indictaors have nailed this trade again. Always look for support or resistance off the moving average's with the 200MA being the key indicator...That's a 400 point move today!!!
The Indices have had a great run today and tha Dow broke pwerfully through the 200MA for a key reversal. Our resistance line was sitting just below the 200MA so you had to be very careful and wait for the break above the 13,000 level. Look how the MA's are crossing and showing support. We had a significant higher low and since the breakout we have seen a 200 point rise. Perfect set up and perfect trade...
Trading is about being patient and waiting for the trade to come to you... I am very happy to sit back and watch and i will only trade when the setup is there for me to take advantage of. Good luck and if you want to book onto the 2 DAY TRADING COURSE next week, please call the office... There are limited places for December and your next opportunity won't be until the end of january, so book now and learn how to take advantage of this market...
Good luck.
Oil has been the flavour of the month and the increased volatility brings us greater opportunity to make money. Take a look at the january contract below to see how we could have traded . We have seen a consistent rise bouncing off our support line from $90 all the way to $99. Last wednesday and and this monday bought us a double top pattern which is a key trend reversal pattern. The oil price was always going to find it difficult to break the $100 level so as it fell through the support line many sell orders were taken at $97...Yesterday saw the break below the 200MA and as it retraced slightly it was met with vigorous selling at $95.
The reason it fell was due to a government report showing the U.S. supplies had declined less than expected and that refineries had increased fuel output. This move really instigates how negative that report was on the market and should lead to an interesting few days ahead...
EURUSD has seen a good days trading and after all the gains we have finally seen a aretracement. Overnight trading in Asia bought us a descending triangle witha red conductor. Look how the MA's hover below the 200MA showing us a potential downtrend. many sell orders were sitting just below 1.4800 for a quick 80 points in london's trading...
USDJPY had the perfect setup as well. Overnight trading in Asia gave us the perfect retracement off the 200MA. Look at all the indictaors sitting nicely below the 200MA. Our stop loss should be below 108.00 and consequently we have seen a solid 200 point move...
GBPJPY has taken a similar setup to the USDJPY and the Indictaors have nailed this trade again. Always look for support or resistance off the moving average's with the 200MA being the key indicator...That's a 400 point move today!!!
The Indices have had a great run today and tha Dow broke pwerfully through the 200MA for a key reversal. Our resistance line was sitting just below the 200MA so you had to be very careful and wait for the break above the 13,000 level. Look how the MA's are crossing and showing support. We had a significant higher low and since the breakout we have seen a 200 point rise. Perfect set up and perfect trade...
Trading is about being patient and waiting for the trade to come to you... I am very happy to sit back and watch and i will only trade when the setup is there for me to take advantage of. Good luck and if you want to book onto the 2 DAY TRADING COURSE next week, please call the office... There are limited places for December and your next opportunity won't be until the end of january, so book now and learn how to take advantage of this market...
Good luck.
Morning Market, Wed 28th November 2007
The FTSE opened up a little today, boosted by positive sentiment returning, albeit sheepishly, over in the US. However, it sooned changed its mind and by 9am was down about 12 points at 6,128. Shame, really, as it hit 6,180 soon after opening. The FGSE 250 was about even.
Over the pond the DJI closed up 215 points last night at 12,958, which was helped greatly by the citigroup Abu Dhabi US$7.5 bln investment news that we also mentioned last night. The S&P500 was up 21 points at 1,428 and the Nadaq up almost 40 points at 2,580.
In the Far East today we saw the Nikkei 225 close down 69 points at 15,153 and by lunchtime in Hong Kong the Hang Seng was up 157 points at 27,367.
Oil price was down, with Saudi saying there was plenty around, basically. Light Sweet (Jan delivery) was down 56c at US$93.86 bbl late last night. This is about 5 bucks down from the near $100 bbl price that was being sniffed a week or two ago. Brent crude (Jan delivery) was down about 50c at US$92.02.
Back to stocks, and after commodities were under pressure we saw BHP fall 25p to 1,493, Rio down 47p to 5,119 and Vedanta down 15p to 1,960.
British Airways looked happier, up 13p at 331 on oil prices and broker upgrade, with its status being raised to a buy. It appears that BA is now looking at Alitalia, with a view of taking part in the planned proivatisation of the state-supported Italian flag carrier.
In earnings news, Johnson Matthey fell 32p to 1,628 after reporting 15% growth in 6-month profit, which was as expected. PBIT was up to £120.1m from £104.6m previously. Compass was up 15p at 304 after the group presented a solid set of full-year earnings. The food service group posted a 41.7% increase in 12-month PBIT, citing its management incentive program as helping a great deal. Other earnings news was from Compass, who raised its total dividend 7% to 10.8p per share.
Sage, the business management software supplier, was up 5p to 199 after saying its 12-month PBIT was up at £223.3m, up £2.1m on last year.
Broker comment on Burren Energy and Premier Oil was that they could be targets for takeovers. It was up 17p to 1,088 on further rumors of an Eni bid for the company, while Premier, up 7p at 1,243, was up on ruumours of a Hungarian bid around the 15-quid level.
Building materials supplier Wolseley fell 16p to 625 as it announced it was uncertain where the housing sector was going. It said that trading profit was down by 12% in the 3 months to October. Midcap peer Marshalls fell 17p to 269.5 on hearing the news.
Mortgage specialist Paragon was up a further 6p on broker upgrade, with a target of 175p, up from 145p.
Over the pond the DJI closed up 215 points last night at 12,958, which was helped greatly by the citigroup Abu Dhabi US$7.5 bln investment news that we also mentioned last night. The S&P500 was up 21 points at 1,428 and the Nadaq up almost 40 points at 2,580.
In the Far East today we saw the Nikkei 225 close down 69 points at 15,153 and by lunchtime in Hong Kong the Hang Seng was up 157 points at 27,367.
Oil price was down, with Saudi saying there was plenty around, basically. Light Sweet (Jan delivery) was down 56c at US$93.86 bbl late last night. This is about 5 bucks down from the near $100 bbl price that was being sniffed a week or two ago. Brent crude (Jan delivery) was down about 50c at US$92.02.
Back to stocks, and after commodities were under pressure we saw BHP fall 25p to 1,493, Rio down 47p to 5,119 and Vedanta down 15p to 1,960.
British Airways looked happier, up 13p at 331 on oil prices and broker upgrade, with its status being raised to a buy. It appears that BA is now looking at Alitalia, with a view of taking part in the planned proivatisation of the state-supported Italian flag carrier.
In earnings news, Johnson Matthey fell 32p to 1,628 after reporting 15% growth in 6-month profit, which was as expected. PBIT was up to £120.1m from £104.6m previously. Compass was up 15p at 304 after the group presented a solid set of full-year earnings. The food service group posted a 41.7% increase in 12-month PBIT, citing its management incentive program as helping a great deal. Other earnings news was from Compass, who raised its total dividend 7% to 10.8p per share.
Sage, the business management software supplier, was up 5p to 199 after saying its 12-month PBIT was up at £223.3m, up £2.1m on last year.
Broker comment on Burren Energy and Premier Oil was that they could be targets for takeovers. It was up 17p to 1,088 on further rumors of an Eni bid for the company, while Premier, up 7p at 1,243, was up on ruumours of a Hungarian bid around the 15-quid level.
Building materials supplier Wolseley fell 16p to 625 as it announced it was uncertain where the housing sector was going. It said that trading profit was down by 12% in the 3 months to October. Midcap peer Marshalls fell 17p to 269.5 on hearing the news.
Mortgage specialist Paragon was up a further 6p on broker upgrade, with a target of 175p, up from 145p.
Tuesday, 27 November 2007
Market Wrap, Tuesday 27th November 2007
The FTSE had another poor day, closing down almost 40 points at 6,140.7, although this was up about 78 points from the day's low of 6,062. The FTSE 250 closed down 150 points at 10,302.8.
By the time London was closing, over the pond the DJI was up nearly 200 points at 12,940, with the S&P 500 up 20 points at 1,427, and Nasdaq stronger by 44 points at 2,585.
Still in the US, news came that bank king Citigroup was in line for a rather monster US$7.5 bln input from some Emirate-based investment fund. Nice. Mind you, the cynic came out in the MDS office when someone quipped that as Saudi own about 5% of US listed share capital the Abu-Dhabi based guys want to get some of the action too, it seems. Current market condition fuelling the negative comments from the MDS Support guys and Trainers who are enjoying some hefty shorts at the moment.
Back over here the miners took a bit of a pasting. Analyst fears of a Chinese slowing economy, which will affect worldwide commodities, caused the majors to fall back. Vedanta was down 81p at 1,975, Kazakhmys was down 30p at 1,260 and Anto was down 26.5p at 658.5. Australian minerals and miners also felt the pinch as they are also closely linked with Chinese commodity requirements.
Trying to be positive, the Citigroup investment helped UK banks with Barclays at the top of the leader board with a 27p rise to 524, also helped with news from the bank that it expects profits to be in line with forecasts - and all helped by Barclaycard's strong year (and extortionate charges). Other peers joined in with RBS up almost 10p to 422.25 and HBOS up 21.5p at 764. Also up (and down/up/down during the session) was rollercoaster Northern Rock, who closed up 8.6p at 118.7 as our very own British Hero, Sir Dick Branson, said he'll weigh in with £200m of his own cash to save the stricken, troubled, northern bank. We must remember to thank him. And to ask for my own grand back that was thrown in to help without asking me.
Elsewhere, in the retail sector, we saw Home Retail finish down 16p at 340, Next down 68p at 1,709 and Marks and Sparks down 17p at 597. All falling as concerns over retail spending were being taken on board by analysts and investors.
Also taking a hit were Associated British Foods, who ended the day down 19p at 862 on broker downgrade and a lower target, as we mentioned this morning.
Top insurers also felt the pressure with the 'Pru' ending up 8p to the worse at 624 on another broker downgrade and target reduction from 915p to 810p.
News from BAe saw a muted response, although positive by nearly 2p at 462.25p, as the group announced a decent Swedish acquisition, which was worth a few Kroner - SKR61.3m, to be exact.
As we mentioned this morning Severn Trent was having a good day as it posted a decent rise in profits, up by 13.5%, to close up 45p at 1,507.
Oil major Tullows was up 15.5p at 603.5 as brokers said they liked it and upgraded it to a target of 645p, up from 595.
By the time London was closing, over the pond the DJI was up nearly 200 points at 12,940, with the S&P 500 up 20 points at 1,427, and Nasdaq stronger by 44 points at 2,585.
Still in the US, news came that bank king Citigroup was in line for a rather monster US$7.5 bln input from some Emirate-based investment fund. Nice. Mind you, the cynic came out in the MDS office when someone quipped that as Saudi own about 5% of US listed share capital the Abu-Dhabi based guys want to get some of the action too, it seems. Current market condition fuelling the negative comments from the MDS Support guys and Trainers who are enjoying some hefty shorts at the moment.
Back over here the miners took a bit of a pasting. Analyst fears of a Chinese slowing economy, which will affect worldwide commodities, caused the majors to fall back. Vedanta was down 81p at 1,975, Kazakhmys was down 30p at 1,260 and Anto was down 26.5p at 658.5. Australian minerals and miners also felt the pinch as they are also closely linked with Chinese commodity requirements.
Trying to be positive, the Citigroup investment helped UK banks with Barclays at the top of the leader board with a 27p rise to 524, also helped with news from the bank that it expects profits to be in line with forecasts - and all helped by Barclaycard's strong year (and extortionate charges). Other peers joined in with RBS up almost 10p to 422.25 and HBOS up 21.5p at 764. Also up (and down/up/down during the session) was rollercoaster Northern Rock, who closed up 8.6p at 118.7 as our very own British Hero, Sir Dick Branson, said he'll weigh in with £200m of his own cash to save the stricken, troubled, northern bank. We must remember to thank him. And to ask for my own grand back that was thrown in to help without asking me.
Elsewhere, in the retail sector, we saw Home Retail finish down 16p at 340, Next down 68p at 1,709 and Marks and Sparks down 17p at 597. All falling as concerns over retail spending were being taken on board by analysts and investors.
Also taking a hit were Associated British Foods, who ended the day down 19p at 862 on broker downgrade and a lower target, as we mentioned this morning.
Top insurers also felt the pressure with the 'Pru' ending up 8p to the worse at 624 on another broker downgrade and target reduction from 915p to 810p.
News from BAe saw a muted response, although positive by nearly 2p at 462.25p, as the group announced a decent Swedish acquisition, which was worth a few Kroner - SKR61.3m, to be exact.
As we mentioned this morning Severn Trent was having a good day as it posted a decent rise in profits, up by 13.5%, to close up 45p at 1,507.
Oil major Tullows was up 15.5p at 603.5 as brokers said they liked it and upgraded it to a target of 645p, up from 595.
Morning Market, Tuesday 27th November 2007
The FTSE was down again this morning. Fears over global financial markets and sub-prime loans/bad debt etc really is taking its toll. We think some realism is finally arriving. We have repeatedly said the whole extention of the bull run was false, and now it's proving to be correct. This isn't a hindsight statement, we have been barking on about the continued rise through the summer when the markets should have just marked time or fallen back a small bit from 6k (UK) and 13k (US) and then grown fundamentally, as they should do, through the Autumn if the economies warranted it. Instead of that we've seen ridiculous levels reached for no other reasons that that there was too much investment money around. 14,000 over the pond was the best short for ages (and Northern Rock) and everyone jumped on.
Anyway, this morning by 9am the FTSE was down 25 points at 6,155, but this was up on the gap down on opening. The FTSE 250 was at 10,328, some 123 points lower.
Yesterday evening in the US the DJI closed down 237 points at 12,734, which was at the low of the day. The credit market cited as the major concern still. The S & P 500 was down 33.5 at 1,407 and nasdaq was down 55.6 at 2,540.99.
Over in the Far East the Nikkei 225 bucked the trend elsewhere by closing up 87.6 points at 15,222.8 but in Hong Kong the Hang Seng was having none of it and closed down 416 points at 27,210.
The miners were hit bad early doors, which didn't help the index, as analysts say the significant slowdown in the Chinese economy will affect the whole world's mining companies, especially the Australian ones. Vedanta was down 50p at 2,006, Rio down 96p at 5,137, BHP down 15p at 1,526 and Xstrata down 70p at 2,993.
On the banking front, Barclays came out the blocks positive, up 8p at 505p as it announced that despite all the turmoil and strife in the markets it was still sure its profits would be up where analysts expected them. Its Barclaycard arm is doing very well, and expanding quite nicely. let's hope it's not all bad debt in there, though (!!). EPS is expected to be at 68.8p, which is very good considering everything, and profits (PBIT) look like being £7.1 bln. Nice.
Some other banks liked the sound of that, with RBS up 5p to 418p early on and HBOS up 9p at 752p. But HSBC was down 10p at 797 due to the Structured Investment Fund bail outs that we mentioned yesterday, and Northern Rock still can't make its mind up what to do as it opened up and then fell down 4p to 106p as broker target changed to 125p from 195p. We're out of this one now.
Over to utilities, where Severn Trent was up nearly 20p at 1,481 on a reported 13.5% profit increase on its first 6 months.
One negative worth mentioning this morning was Associated British Foods fell 19p to 862p on broker downgrade with a target of 955p instead of 990p. The weak greenback being blamed for reduction in earnings.
Anyway, this morning by 9am the FTSE was down 25 points at 6,155, but this was up on the gap down on opening. The FTSE 250 was at 10,328, some 123 points lower.
Yesterday evening in the US the DJI closed down 237 points at 12,734, which was at the low of the day. The credit market cited as the major concern still. The S & P 500 was down 33.5 at 1,407 and nasdaq was down 55.6 at 2,540.99.
Over in the Far East the Nikkei 225 bucked the trend elsewhere by closing up 87.6 points at 15,222.8 but in Hong Kong the Hang Seng was having none of it and closed down 416 points at 27,210.
The miners were hit bad early doors, which didn't help the index, as analysts say the significant slowdown in the Chinese economy will affect the whole world's mining companies, especially the Australian ones. Vedanta was down 50p at 2,006, Rio down 96p at 5,137, BHP down 15p at 1,526 and Xstrata down 70p at 2,993.
On the banking front, Barclays came out the blocks positive, up 8p at 505p as it announced that despite all the turmoil and strife in the markets it was still sure its profits would be up where analysts expected them. Its Barclaycard arm is doing very well, and expanding quite nicely. let's hope it's not all bad debt in there, though (!!). EPS is expected to be at 68.8p, which is very good considering everything, and profits (PBIT) look like being £7.1 bln. Nice.
Some other banks liked the sound of that, with RBS up 5p to 418p early on and HBOS up 9p at 752p. But HSBC was down 10p at 797 due to the Structured Investment Fund bail outs that we mentioned yesterday, and Northern Rock still can't make its mind up what to do as it opened up and then fell down 4p to 106p as broker target changed to 125p from 195p. We're out of this one now.
Over to utilities, where Severn Trent was up nearly 20p at 1,481 on a reported 13.5% profit increase on its first 6 months.
One negative worth mentioning this morning was Associated British Foods fell 19p to 862p on broker downgrade with a target of 955p instead of 990p. The weak greenback being blamed for reduction in earnings.
Tuesday 27th Novemeber - Currency and Indices Report
Good morning...
Well the Dow fell another 237 points yesterday with further worry over the credit problem. The BBC news reporter interviewed shoppers on the streets of Manhattan last night and interestingly you got the feel that people were quite aware of the problems that lie ahead. Shoppers were talking about how they needed to watch their pennies now and that savings would be a good idea. A very differnt picture to last year when most shoppers put everything on their credit cards. One shopper said - 'You have to think about what you spend now!!!' It surprises me how he has only just worked that one out...
Retail sales is predicted to be worse off this Christmas than last year, which could put further pressure on Interest Rates and consequently put further pressure on the US $. We need to compare this to the UK market at the same time but the old saying goes - 'What ever happens in the States, will happen here 12 - 18 months later'.
This is no problem for us as day traders as there will always be volatility in the market and selling Indices, Equities or Currencies is as easy as buying them and remember to keep trading with the Trend to maximise your profits.
I keep telling Traders to look at the Daily and 1 Hour chart and look how the 5 Conductor appeared on 60 minute chart on the opening of the Dow yesterday. The Daily Trend is down, the 60 minute trend is down and and by watching each candle produce lower lows, there was potential to maximise your profits on this trade...
USDJPY hs been in free fall for all of last week. Take a look at the lower highs with the move consistently below the 200MA. The 7 red conductor came in last monday but after each retracement back towards the 200MA there was renewed selling.
Remember to only sell after a retracement back up. I see it day in day out when traders see a market fall 100 points and then jump in and then it retraces back up and they stop them selves out. Only sell after a lower high is about to turn back down again. So for example yesterday's trade from 108.70 down to 107.20...
Good luck and speak to you tomorrow...
Well the Dow fell another 237 points yesterday with further worry over the credit problem. The BBC news reporter interviewed shoppers on the streets of Manhattan last night and interestingly you got the feel that people were quite aware of the problems that lie ahead. Shoppers were talking about how they needed to watch their pennies now and that savings would be a good idea. A very differnt picture to last year when most shoppers put everything on their credit cards. One shopper said - 'You have to think about what you spend now!!!' It surprises me how he has only just worked that one out...
Retail sales is predicted to be worse off this Christmas than last year, which could put further pressure on Interest Rates and consequently put further pressure on the US $. We need to compare this to the UK market at the same time but the old saying goes - 'What ever happens in the States, will happen here 12 - 18 months later'.
This is no problem for us as day traders as there will always be volatility in the market and selling Indices, Equities or Currencies is as easy as buying them and remember to keep trading with the Trend to maximise your profits.
I keep telling Traders to look at the Daily and 1 Hour chart and look how the 5 Conductor appeared on 60 minute chart on the opening of the Dow yesterday. The Daily Trend is down, the 60 minute trend is down and and by watching each candle produce lower lows, there was potential to maximise your profits on this trade...
USDJPY hs been in free fall for all of last week. Take a look at the lower highs with the move consistently below the 200MA. The 7 red conductor came in last monday but after each retracement back towards the 200MA there was renewed selling.
Remember to only sell after a retracement back up. I see it day in day out when traders see a market fall 100 points and then jump in and then it retraces back up and they stop them selves out. Only sell after a lower high is about to turn back down again. So for example yesterday's trade from 108.70 down to 107.20...
Good luck and speak to you tomorrow...
Monday, 26 November 2007
Market Wrap, Monday, 24th November 2007, 6.30pm
The FTSE closed down 81.6 points at 6,180 today, despite having a positive start with good feeling from over the pond on Friday evening. This changed after the US opened this afternoon. More fears over the state of the sub-prime financial arena, both here and in the US, is back at the top of the 'worries list'. The FTSE 250 was down 78 points at 10,452.9.
Just as we type, the DJI was down about 40 points, at around 12,940. The SandP 500 was down 10 points at 1,430 and the Nasdaq was down 17 points at 2,578.
News that HSBC is bailing out two of its Structured Investment Vehicles to the tune of US$35 bln (yes, US$35 bln) wasn't taken well in the City. The bank closed down 15.5p at 811.5 on the news. Broker downgrade followed too, as rumours that another $12 bln may be needed.
Talking of banks, also in the news is Northern Rock again, this time with a massive leap up after news that Virgin Group (and its consortium) is, in fact, more than favourite for the bank to take them over. Well, not sure that's the right term, but the outcome is the same. The bank said it was "taking forward its negotiations and talks with Virgin Consortium..." The share price leapt up 24.2p today to close3 at 110.1p on the news. Lucky the shorts were all closed, most of the rise was the position closing, we could cynically speculate. We were all out on Friday, which looks like the best decision this month! The deal is a bit of a 'put-together', though, but is the best for shareholders, we understand. Firstly, in comes £1.3 bln in cash, half from the Virgin consortium and half from current shareholders in a rights issue, that will be underwritten, all at 25p per share. Virgin will also chuck in its Virgin Money brand, valued at £250m (or 1m shares at 25p). If current shareholders take up the offer in full, then the consortium will own 55% of the newly enlarged share capital of Northern Rock. It looked like this was the best offer on the table, said one broker, and looks like ti will receive shareholder approval.
Alliance & Leicester was also down today, finishing down 31p at 614 on weekend press talking about significant bad debt write downs. Lloyds TSB closed down almost 15p at 455.5 on broker downgrade and Barclays closed down 13.5p at 497.
As we mentioned this morning, Punch's apparent confirmation of non-interest in Mitchells & Butlers wasn't taken well, with M & B falling 32.5p on the day to close at 608.5.
Builders didn't do too well today, as Hometrack's latest monthly survey gave the sector some doom and gloom with news that house prices fell 0.2% thjis month, and 01.% last month. Barratts was down 27.5p at just shy of 457 and Persimmons was down 24p at 770.
British Airways closed down 16p at almost 330p after announcing it wouldn't be exercising its pre-emption rights so to acquire shares in Spanish carrier Iberia.
Major Pharmas were down, with AstraZeneca 43p down at 2,232 on broker downgrade, with a target of 20-quid a pop. Further to go there, maybe.
Good news somewhere, though - as we mentioned this morning, mortgage lender Paragon did well both this morning and then kept it up this afternoon. It finsihed up 12.5p at 130.5 on the newspaper reports that it was selling its car loan business for £140m, so to not have to do a rights issue. The news was welcome.
Some other good news has also come out today, though, with news that Steve MacLaren has got a new job already. He successfully auditioned for the job as a pumpkin in the pantomime, Cinderella, this Christmas. When the fairy godmother asked him why he chose to be a pumpkin he replied, “Well, when it strikes midnight I am hoping you can turn me into a coach…”
Just as we type, the DJI was down about 40 points, at around 12,940. The SandP 500 was down 10 points at 1,430 and the Nasdaq was down 17 points at 2,578.
News that HSBC is bailing out two of its Structured Investment Vehicles to the tune of US$35 bln (yes, US$35 bln) wasn't taken well in the City. The bank closed down 15.5p at 811.5 on the news. Broker downgrade followed too, as rumours that another $12 bln may be needed.
Talking of banks, also in the news is Northern Rock again, this time with a massive leap up after news that Virgin Group (and its consortium) is, in fact, more than favourite for the bank to take them over. Well, not sure that's the right term, but the outcome is the same. The bank said it was "taking forward its negotiations and talks with Virgin Consortium..." The share price leapt up 24.2p today to close3 at 110.1p on the news. Lucky the shorts were all closed, most of the rise was the position closing, we could cynically speculate. We were all out on Friday, which looks like the best decision this month! The deal is a bit of a 'put-together', though, but is the best for shareholders, we understand. Firstly, in comes £1.3 bln in cash, half from the Virgin consortium and half from current shareholders in a rights issue, that will be underwritten, all at 25p per share. Virgin will also chuck in its Virgin Money brand, valued at £250m (or 1m shares at 25p). If current shareholders take up the offer in full, then the consortium will own 55% of the newly enlarged share capital of Northern Rock. It looked like this was the best offer on the table, said one broker, and looks like ti will receive shareholder approval.
Alliance & Leicester was also down today, finishing down 31p at 614 on weekend press talking about significant bad debt write downs. Lloyds TSB closed down almost 15p at 455.5 on broker downgrade and Barclays closed down 13.5p at 497.
As we mentioned this morning, Punch's apparent confirmation of non-interest in Mitchells & Butlers wasn't taken well, with M & B falling 32.5p on the day to close at 608.5.
Builders didn't do too well today, as Hometrack's latest monthly survey gave the sector some doom and gloom with news that house prices fell 0.2% thjis month, and 01.% last month. Barratts was down 27.5p at just shy of 457 and Persimmons was down 24p at 770.
British Airways closed down 16p at almost 330p after announcing it wouldn't be exercising its pre-emption rights so to acquire shares in Spanish carrier Iberia.
Major Pharmas were down, with AstraZeneca 43p down at 2,232 on broker downgrade, with a target of 20-quid a pop. Further to go there, maybe.
Good news somewhere, though - as we mentioned this morning, mortgage lender Paragon did well both this morning and then kept it up this afternoon. It finsihed up 12.5p at 130.5 on the newspaper reports that it was selling its car loan business for £140m, so to not have to do a rights issue. The news was welcome.
Some other good news has also come out today, though, with news that Steve MacLaren has got a new job already. He successfully auditioned for the job as a pumpkin in the pantomime, Cinderella, this Christmas. When the fairy godmother asked him why he chose to be a pumpkin he replied, “Well, when it strikes midnight I am hoping you can turn me into a coach…”
Morning Market, Monday 26th November 2007
The FTSE was, early doors, and by 9am was about 35 points higher at 6,297.
On Friday the US finished on a positive note after its Thanksgiving day off with the DJI having a nice day, finishing up almost 182 points at 12,980, the SandP 500 up 24 points at 1,440 and the Nasdaq up 34.5 points at 2,596.
In the Far East today the Nikkei 225 index closed up 246.44 points at 15,135.21 and the Hang Seng leapt up with something like a pole vault to 27,626 (up 1,085) on the US bullish Friday and weaker Japanese yen.
Oil prices rose and stayed around the US$99 bbl level. Light Sweet (Jan delivery) was up nearly 60c at US$98.75 bbl and Brent (jan delivery) was up 62c at US$96.4 bbl.
Here in London this morning, the miners were all string again. Rio was up 180p at 5,495 as the weekend press added weight to the Chinese interest in out-bidding BHP for the major firm. Initial reports of something like US$200 bln wwere being banted around. Rio's investmnet seminar in Sydney was fairly relaxed, but upbeat today, stating its strength as a global mining player but not dismissing BHP's bid out and out. Rio Tinto said it has better growth forecasts than its peers and has some good channels to exploit over the coming years.
Other miners also did well this morning, with BHP up 55p to 1,623, Anglo up a quid at 3,080, and Kazakhmys up 41p to 1,323 as all the majors did well on the good news and felling from the USA.
One jumper this morning was Northern Rock, fresh this week after press reports that Branson's Virgin are top of the preferred list as takeover/rescue looms. The price leapt 45% to 125p (up 39p) as investors moved back in on reports that investors wouldn't be left with nothing when rescue does arrive. Virgin's offer apparently pays back half the £26 bln that is owed to Bank of England immediately, although it was using various sources to round up the cash. The bank would merge with Virgin Money. We think most shorts were closed today. Our short was closed on Friday, you will remember. Time to watch this one.
Alliance & Leicester didn't fair as well this morning, with a 6p fall to 639 as the bank is expected to write down significan't bad loans. There is a trading update due soon.
Punch Taverns has moved in for Mitchell & Butlers, we heard, but Punch denied it over the weekend. M & B fell 14p to 627 this morning after confirming it wasn't in talks with Punch regarding a £5 bln deal. Punch were up 4p at 858.
Pharmas reversed some of last week'd positive moves as AstraZeneca fell 32p at 2,243 on broker downgrade and Glaxo was down 32 pence at 2,243 Glaxo 16p at 1,222 in sympathy. Shire Phrama also fell 13p to 1,087.
Paragon, the mortgage specialist, was up another 26p to 144 after weekend press gave news of the firm's plan to sell its car loan portfolio rather than do that heavy dilutionary Rights Issue.
On Friday the US finished on a positive note after its Thanksgiving day off with the DJI having a nice day, finishing up almost 182 points at 12,980, the SandP 500 up 24 points at 1,440 and the Nasdaq up 34.5 points at 2,596.
In the Far East today the Nikkei 225 index closed up 246.44 points at 15,135.21 and the Hang Seng leapt up with something like a pole vault to 27,626 (up 1,085) on the US bullish Friday and weaker Japanese yen.
Oil prices rose and stayed around the US$99 bbl level. Light Sweet (Jan delivery) was up nearly 60c at US$98.75 bbl and Brent (jan delivery) was up 62c at US$96.4 bbl.
Here in London this morning, the miners were all string again. Rio was up 180p at 5,495 as the weekend press added weight to the Chinese interest in out-bidding BHP for the major firm. Initial reports of something like US$200 bln wwere being banted around. Rio's investmnet seminar in Sydney was fairly relaxed, but upbeat today, stating its strength as a global mining player but not dismissing BHP's bid out and out. Rio Tinto said it has better growth forecasts than its peers and has some good channels to exploit over the coming years.
Other miners also did well this morning, with BHP up 55p to 1,623, Anglo up a quid at 3,080, and Kazakhmys up 41p to 1,323 as all the majors did well on the good news and felling from the USA.
One jumper this morning was Northern Rock, fresh this week after press reports that Branson's Virgin are top of the preferred list as takeover/rescue looms. The price leapt 45% to 125p (up 39p) as investors moved back in on reports that investors wouldn't be left with nothing when rescue does arrive. Virgin's offer apparently pays back half the £26 bln that is owed to Bank of England immediately, although it was using various sources to round up the cash. The bank would merge with Virgin Money. We think most shorts were closed today. Our short was closed on Friday, you will remember. Time to watch this one.
Alliance & Leicester didn't fair as well this morning, with a 6p fall to 639 as the bank is expected to write down significan't bad loans. There is a trading update due soon.
Punch Taverns has moved in for Mitchell & Butlers, we heard, but Punch denied it over the weekend. M & B fell 14p to 627 this morning after confirming it wasn't in talks with Punch regarding a £5 bln deal. Punch were up 4p at 858.
Pharmas reversed some of last week'd positive moves as AstraZeneca fell 32p at 2,243 on broker downgrade and Glaxo was down 32 pence at 2,243 Glaxo 16p at 1,222 in sympathy. Shire Phrama also fell 13p to 1,087.
Paragon, the mortgage specialist, was up another 26p to 144 after weekend press gave news of the firm's plan to sell its car loan portfolio rather than do that heavy dilutionary Rights Issue.
Monday Currency Report - 26th Nov 2007
Good morning and welcome to another interesting week ahead...
There seems to be a lot of talk about the economy slowing and hence this may give an opportunity for the Bank of england to cut rates from 5.75% in the 1st 1/4 of next year... The B of E Deputy Governor again last week talked about the slowdown in the housing market and that it was gathering pace and that house prices fell for a second month in Novemeber. Unfortunately Credit costs have increased and confidence has been dented amoung the buyers and sellers. Always remember its very hard to build confidence but very easy to lose it...
A few analysts are predicting the weakest housing market for 10 years, with borrowing costs at a six year high and a slow down in economic growth from the US subprime mortgage market. The losses in the states are now spreading to London and Europe and this is sure to have an impact on jobs and bonuses in the city which has kept the property market so strong for all this time...
The market is definitely preparing itself for a possible change in rates so do be aware of what lies ahead. The pound is holding well at these levels and it is important to keep an eye on the global stock markets for any change in sentiment.
The good news for the currency and indices traders out there, is that there will be huge oppotunities in a volatile market.
Now UsdCad has had a great retracement back up 900 points from its low at 0.9050 and at some stage the move may continue. I will be watching for the break so keep an eye on it over the next few days...
Overall it is a reasonably slow start to the day. However i do go searching for Pre Alerts and Moving Average crossovers. Take a look at the retracement indicators on the GBPUSD chart below on friday. The candles crossed the MA's early this am and we had a nice 70 point move up to the figure 2.0700.
Tip - It is always worth looking at the Analyser on sunday night (or each night) and take notes to prepare yourself for the monday morning move...
Keep an eye on the data this week for any changes in sentiment...
There seems to be a lot of talk about the economy slowing and hence this may give an opportunity for the Bank of england to cut rates from 5.75% in the 1st 1/4 of next year... The B of E Deputy Governor again last week talked about the slowdown in the housing market and that it was gathering pace and that house prices fell for a second month in Novemeber. Unfortunately Credit costs have increased and confidence has been dented amoung the buyers and sellers. Always remember its very hard to build confidence but very easy to lose it...
A few analysts are predicting the weakest housing market for 10 years, with borrowing costs at a six year high and a slow down in economic growth from the US subprime mortgage market. The losses in the states are now spreading to London and Europe and this is sure to have an impact on jobs and bonuses in the city which has kept the property market so strong for all this time...
The market is definitely preparing itself for a possible change in rates so do be aware of what lies ahead. The pound is holding well at these levels and it is important to keep an eye on the global stock markets for any change in sentiment.
The good news for the currency and indices traders out there, is that there will be huge oppotunities in a volatile market.
Now UsdCad has had a great retracement back up 900 points from its low at 0.9050 and at some stage the move may continue. I will be watching for the break so keep an eye on it over the next few days...
Overall it is a reasonably slow start to the day. However i do go searching for Pre Alerts and Moving Average crossovers. Take a look at the retracement indicators on the GBPUSD chart below on friday. The candles crossed the MA's early this am and we had a nice 70 point move up to the figure 2.0700.
Tip - It is always worth looking at the Analyser on sunday night (or each night) and take notes to prepare yourself for the monday morning move...
Keep an eye on the data this week for any changes in sentiment...
Friday, 23 November 2007
Market Wrap, Friday 23rd November 2007, 7pm
The FTSE finished the day up 106.8 points at 6,262, which was the day's high. The low of the day was 6,153. The FTSE 250 was up 216 at 10,531. Not a bad end to an otherwise negative week. Not sure we're on for another run as yet.
Over the pond the DJI was about 120 points at 12,919 by the time London closed.
Miners did well. The Chinese looking at vedanta, which looks more than a rumour, gave the stock some decent interest, as did gold and copper being so strong. Vedanta finished up 136p at 2,036. Rio also had a decent day, up 390p at 5,315 as the BHP bid was still of high topic. Rio has its investor seminar on Monday, where the BHP bid will no doubt be hammered out for opinion. BHP was up 79p at 1,568 on the day as well. Other major miners also did well, with Anto up 45p higher at 684 and Anglo up 171p at 2,980 on broker upgrades.
Mitchells & Butlers was up 43p at 641 due to a good feeling about the up-n-coming JV that's worth £4.5 bln. A big deal.
The retailers also had a good day as DSG was up 8p at 113 and Home Retail Group up 15.25 at 359.
Insurers look popular. Aviva gained 34p to close at 670.5 after broker upgrade, with a target of 750p. This somewhat lower than the previous target of 900p, but this target has substance, investors fell. It's peer Prudential was up 32.5p at 660.
British Airways was also 14p higher at just shy of 346 as rumour of its consortium bid for Iberia may not go ahead. No-one seems to want it to.
Oil stocks didn't have such a good day, with RD Shell down 32p at 1,994 and BG Group was 4p down, closing at 985, and Centrica was down 8p at 348 too.
On the second line, Midcap Biffa jumped up 64.5 (25%) to 325p as any bid would have to be at a significant premium, said a Private Equity firm. Intermediate Capital Group was also up strongly, up 190p at 1,650 after it announced profits up 33% for 6 months. The dividend will be up to 19.5p from 16.5p as well.
Over the pond the DJI was about 120 points at 12,919 by the time London closed.
Miners did well. The Chinese looking at vedanta, which looks more than a rumour, gave the stock some decent interest, as did gold and copper being so strong. Vedanta finished up 136p at 2,036. Rio also had a decent day, up 390p at 5,315 as the BHP bid was still of high topic. Rio has its investor seminar on Monday, where the BHP bid will no doubt be hammered out for opinion. BHP was up 79p at 1,568 on the day as well. Other major miners also did well, with Anto up 45p higher at 684 and Anglo up 171p at 2,980 on broker upgrades.
Mitchells & Butlers was up 43p at 641 due to a good feeling about the up-n-coming JV that's worth £4.5 bln. A big deal.
The retailers also had a good day as DSG was up 8p at 113 and Home Retail Group up 15.25 at 359.
Insurers look popular. Aviva gained 34p to close at 670.5 after broker upgrade, with a target of 750p. This somewhat lower than the previous target of 900p, but this target has substance, investors fell. It's peer Prudential was up 32.5p at 660.
British Airways was also 14p higher at just shy of 346 as rumour of its consortium bid for Iberia may not go ahead. No-one seems to want it to.
Oil stocks didn't have such a good day, with RD Shell down 32p at 1,994 and BG Group was 4p down, closing at 985, and Centrica was down 8p at 348 too.
On the second line, Midcap Biffa jumped up 64.5 (25%) to 325p as any bid would have to be at a significant premium, said a Private Equity firm. Intermediate Capital Group was also up strongly, up 190p at 1,650 after it announced profits up 33% for 6 months. The dividend will be up to 19.5p from 16.5p as well.
Morning Market, Friday 23rd November 2007, 9.30am
By 9am the FTSE was up another 55 points, at 6,210, continuing on from yesterday. The FTSE 250 was up 85 points at 10,401. The volume wasn't massive, but what interest there is looks positive.
Over night the Nikkei 225 was closed (do they have a Thanksgiving as well?) but this morning in Hong Kong we saw the Hang Seng up 310 points at 26,315 at lunchtime.
Oil was up in far East rrding as well, with Light Sweet (Jan delivery) up 7c to US$97.36 bbl. The US$100 bbl is looking certain, really, as a high of US$99.29 was hit on Wednesday. Brent crude (Jan delivery) was up 15c at US$94.78 bbl.
Back to equities, and back in London, the miners were helping the FTSE rise as gold and copper commodities were in favour again. Vedanta was up 130 points at 2,030 early doors. That's a 7% rise. Rumours of the Chinese taking a look giving it healthy buying interest. the Chinese are really on the commodity acquisition trail, as their needs for raw materials is astronomic. Elsewhere in the sector, BHP was up 7p to 1,495 as rumours were back on about the possibility of the Rio merger coming off. Rio was also up on the chat, gaining 44p to 4,958 by 9am. Anglos was also up, with a 90p rise to 2,899 on broker upgrade.
Yesterday saw the major Pharmas fight back from recent selling. This continued this morning, with broker upgrade on the sector in general, helping Astra up 65p to 2,296, while Glaxo jumped 24p to 1,245.
The retail sector is now back in play as they will all be looing for bumper revenues up until Xmas. Tesco was up 4.5p at 477, Morrison up 3p at 296, and clothes retailer Next up 40p at 1,782.
The banks distanced themselves from Northern Rock, with RBS up 8.5p at 411 and HBOS up 18 at 743. Northern Rock was down 7p to 77p, however, as sellers are outweighing those closing shorts, it seems (!). Rumours around that the troubled mortgage bank has gone to the bank of England for another billion quid. That's over £25 bln owed now. We have half closed our short this morning and have squeezed a stop closer as profits are healthy and despite us believing there is much further to go, there are horrific amounts of short positions out there that need closing. Profit is profit, after all. This one was a good one. We'll be out completely by the end of the day, we'd guess.
Over night the Nikkei 225 was closed (do they have a Thanksgiving as well?) but this morning in Hong Kong we saw the Hang Seng up 310 points at 26,315 at lunchtime.
Oil was up in far East rrding as well, with Light Sweet (Jan delivery) up 7c to US$97.36 bbl. The US$100 bbl is looking certain, really, as a high of US$99.29 was hit on Wednesday. Brent crude (Jan delivery) was up 15c at US$94.78 bbl.
Back to equities, and back in London, the miners were helping the FTSE rise as gold and copper commodities were in favour again. Vedanta was up 130 points at 2,030 early doors. That's a 7% rise. Rumours of the Chinese taking a look giving it healthy buying interest. the Chinese are really on the commodity acquisition trail, as their needs for raw materials is astronomic. Elsewhere in the sector, BHP was up 7p to 1,495 as rumours were back on about the possibility of the Rio merger coming off. Rio was also up on the chat, gaining 44p to 4,958 by 9am. Anglos was also up, with a 90p rise to 2,899 on broker upgrade.
Yesterday saw the major Pharmas fight back from recent selling. This continued this morning, with broker upgrade on the sector in general, helping Astra up 65p to 2,296, while Glaxo jumped 24p to 1,245.
The retail sector is now back in play as they will all be looing for bumper revenues up until Xmas. Tesco was up 4.5p at 477, Morrison up 3p at 296, and clothes retailer Next up 40p at 1,782.
The banks distanced themselves from Northern Rock, with RBS up 8.5p at 411 and HBOS up 18 at 743. Northern Rock was down 7p to 77p, however, as sellers are outweighing those closing shorts, it seems (!). Rumours around that the troubled mortgage bank has gone to the bank of England for another billion quid. That's over £25 bln owed now. We have half closed our short this morning and have squeezed a stop closer as profits are healthy and despite us believing there is much further to go, there are horrific amounts of short positions out there that need closing. Profit is profit, after all. This one was a good one. We'll be out completely by the end of the day, we'd guess.
Thursday, 22 November 2007
Market Wrap, Thursday 22nd November 2007, 7pm
The FTSE bounced up fairly healthily today, closing up 84 points at 6,155. This was some 129 points higher than its low of the day. The FTSE 250 was up 102 points at 10,314.9.
On a positive start, the Pharmas thought they'd been hit enough recently and fought back. Broker upgrade on the sector in general saw Glaxo jump 61p to 1,221 and AstraZeneca up 138p to 2,231. Glaxo's recent acquisition of Reliant Pharmaceuticals helping its strength.
Centrica was up almost 20p today at 355.5 after broker upgrade, whilst British Energy also received favourable broker targets with a close at 491.5, just shy of 33p up on the day, and peer Drax closed up 19p at almost 680p.
Supermarkets also had a nice day. Morrisons told us that last quarter like-for-like sales were in front nearly 4% since it went on the 'fresh fish and fresh meat' advertising route. It closed up 22.5p at 293.5. Broker target of 350p was also helping its popularity. Sector major Tesco lapped up the interest in its popular peer and closed up 9.5p at 472.
British Airways seems to be coming of the bottom as oil prices eased a little, finishing up 9p at 331.5. The 3rd main runway at Heathrow is looking like being approved. Not sure the residents of village Sipson, just north of the airport, are feeling as happy as their village will be razed to the ground to accomodate terminal 6. Let's hope there's not another massive waste of public money on an enquiry like they had for Terminal 5, even though we all knew the outcome before it even started.
The miners didn't fair as well today. Xstrata closed down 80p at 2,869, Anglo down 21p at 2,809, and Vedanta Resources closed down 26p at 1,900. Tullow Oil also didn't do very well, closing down 11p at 570, as it told us it had closed and plugged a well in Gabon.
Mitchells & Butlers, the pub operaor, closed down 8.5p at 598 on broker downgrade. Fears that it planned JV won't go ahead.
Northumbrian Water was a positive from the 250. It was up about 10%, over 30p, to 331.
Problems at Paragon, where it can't seem to raise debt, have caused a massive fall in share price of late. A rights share issue looked like being at such a discount, current shareholders won't be expected to go with it. However, current guarantees on returns on mortgages look like showing a shareprice twice today's value - it finished up 9.5p at 89.5. Broker upgrade also helped with a target of 122p.
Northern Foods finsihed up 5p at 91.25p after expansion news, telling us it was buying Ethnic Cuisine.
England's atrocious performance on the football field and subsequent failure to not qualify for the European Championships next summer took its toll on the Sportswear firms. Sports Direct were down again, 16.5p lower at 96p. This was listed at 3-quid a pop just 9 months ago. JJB Sports already told us it was going to be up to £8m worse off if England didn't qualify - and fell nearly 6p to 140 when we didn't. Analysts reckon the whole Maclaren/England debacle could cost the economy £1.5 bln next summer, what with the licensed trade, new TVs not being bought, replica kits, all their supply companies, etc etc. FA Chief, Barwick, should've come to my local pub when looking for a coach instead of picking MacLaren, who has just sat under Fergie's umbrella, then Sven's umbrella, whilst basically failing at 'Boro in getting just a two-bob League Cup win during his spell as a manager there. How someone who has done nothing to prove his worth gets appointed as the top job in football is beyond all football fans. I wasn't joking about my local, either.
On a positive start, the Pharmas thought they'd been hit enough recently and fought back. Broker upgrade on the sector in general saw Glaxo jump 61p to 1,221 and AstraZeneca up 138p to 2,231. Glaxo's recent acquisition of Reliant Pharmaceuticals helping its strength.
Centrica was up almost 20p today at 355.5 after broker upgrade, whilst British Energy also received favourable broker targets with a close at 491.5, just shy of 33p up on the day, and peer Drax closed up 19p at almost 680p.
Supermarkets also had a nice day. Morrisons told us that last quarter like-for-like sales were in front nearly 4% since it went on the 'fresh fish and fresh meat' advertising route. It closed up 22.5p at 293.5. Broker target of 350p was also helping its popularity. Sector major Tesco lapped up the interest in its popular peer and closed up 9.5p at 472.
British Airways seems to be coming of the bottom as oil prices eased a little, finishing up 9p at 331.5. The 3rd main runway at Heathrow is looking like being approved. Not sure the residents of village Sipson, just north of the airport, are feeling as happy as their village will be razed to the ground to accomodate terminal 6. Let's hope there's not another massive waste of public money on an enquiry like they had for Terminal 5, even though we all knew the outcome before it even started.
The miners didn't fair as well today. Xstrata closed down 80p at 2,869, Anglo down 21p at 2,809, and Vedanta Resources closed down 26p at 1,900. Tullow Oil also didn't do very well, closing down 11p at 570, as it told us it had closed and plugged a well in Gabon.
Mitchells & Butlers, the pub operaor, closed down 8.5p at 598 on broker downgrade. Fears that it planned JV won't go ahead.
Northumbrian Water was a positive from the 250. It was up about 10%, over 30p, to 331.
Problems at Paragon, where it can't seem to raise debt, have caused a massive fall in share price of late. A rights share issue looked like being at such a discount, current shareholders won't be expected to go with it. However, current guarantees on returns on mortgages look like showing a shareprice twice today's value - it finished up 9.5p at 89.5. Broker upgrade also helped with a target of 122p.
Northern Foods finsihed up 5p at 91.25p after expansion news, telling us it was buying Ethnic Cuisine.
England's atrocious performance on the football field and subsequent failure to not qualify for the European Championships next summer took its toll on the Sportswear firms. Sports Direct were down again, 16.5p lower at 96p. This was listed at 3-quid a pop just 9 months ago. JJB Sports already told us it was going to be up to £8m worse off if England didn't qualify - and fell nearly 6p to 140 when we didn't. Analysts reckon the whole Maclaren/England debacle could cost the economy £1.5 bln next summer, what with the licensed trade, new TVs not being bought, replica kits, all their supply companies, etc etc. FA Chief, Barwick, should've come to my local pub when looking for a coach instead of picking MacLaren, who has just sat under Fergie's umbrella, then Sven's umbrella, whilst basically failing at 'Boro in getting just a two-bob League Cup win during his spell as a manager there. How someone who has done nothing to prove his worth gets appointed as the top job in football is beyond all football fans. I wasn't joking about my local, either.
Morning Wrap, Thursday 22nd November 2007, 10am
The FTSE was fairly even at 9am, down just 2 points at 6,070.
Overnight in New York, the DJI closed 211 points lower at 12,779, whilst the SandP 500 was down nearly 23 points at 1,416. The Nasdaq closed nearly 35 points lower 2,562. The US markets are closed today.
In the Far east this morning the Nikkei 225 closed up 51 points at 14,888 as investors moved in after the recent sell down. In Hong Kong the Hang Seng was down 613 at 26,004, despite having a fairly nice morning. Genreal global economy concerns being cited for the negativity.
Oil was back under US$98 bbl after almost hitting the US$100 bbl yesterday. This was reflected in the oil majors' prices, and this had the effect of pulling the FTSE back a bit. RD Shell was down 7p at 1,996 and BP off 2p at 575.5.
The big miners were also down with Xstrata down 89p at 2,860, Anto down 15p at 641, Vedanta down 45p at 1,879 and Kazakhmys down a worrying 51p at 1,203 after the earnings warning given by the CEO yesterday.
The banking sector also didn't fair well, with Northern Rock down another 2.6p at 82.2, HBOS down 11p at 702p, RBS down 11p at 388 - all balmed on the global economy and credit crunch, with banks exposed to massive write down and bad debt write offs.
The slight reduction of the oil price gave British Airways some interest, with a 4p rise early doors up to 327p. The 3rd runway for Heathrow is also gathering strength, with expectations of government approval due today.
We're all watching BT closely. The telecoms provider is giving signs of being on the floor/support, with a turn imminent. We'll see. Could be a swing trade if the market doesn't break under 6,000.
Overnight in New York, the DJI closed 211 points lower at 12,779, whilst the SandP 500 was down nearly 23 points at 1,416. The Nasdaq closed nearly 35 points lower 2,562. The US markets are closed today.
In the Far east this morning the Nikkei 225 closed up 51 points at 14,888 as investors moved in after the recent sell down. In Hong Kong the Hang Seng was down 613 at 26,004, despite having a fairly nice morning. Genreal global economy concerns being cited for the negativity.
Oil was back under US$98 bbl after almost hitting the US$100 bbl yesterday. This was reflected in the oil majors' prices, and this had the effect of pulling the FTSE back a bit. RD Shell was down 7p at 1,996 and BP off 2p at 575.5.
The big miners were also down with Xstrata down 89p at 2,860, Anto down 15p at 641, Vedanta down 45p at 1,879 and Kazakhmys down a worrying 51p at 1,203 after the earnings warning given by the CEO yesterday.
The banking sector also didn't fair well, with Northern Rock down another 2.6p at 82.2, HBOS down 11p at 702p, RBS down 11p at 388 - all balmed on the global economy and credit crunch, with banks exposed to massive write down and bad debt write offs.
The slight reduction of the oil price gave British Airways some interest, with a 4p rise early doors up to 327p. The 3rd runway for Heathrow is also gathering strength, with expectations of government approval due today.
We're all watching BT closely. The telecoms provider is giving signs of being on the floor/support, with a turn imminent. We'll see. Could be a swing trade if the market doesn't break under 6,000.
Thursday 22nd - Currency report
Full apologies for not posting trades this week. I now have an addition to our family...
It has been an interesting few weeks in the markets and all areas seem to be getting hit quite hard. You do find that markets over react and extreme price movements occur from being overvalued to undervalued. The financial credit markets are definitely suffering but this has happened before and they will get it resolved at some stage.
The markets in my view have been extremely overvalued and to be honest this pull back was always going to happen. (Remember my elastic band theory!!!)
Now i keep telling MDS Traders to trade off the longer term charts, as this is where the money lies. I keep getting fantastic results from clients who stick to this rule and i will show you some charts examples below. The people who struggle, day in day out are the ones who try and beat the market on a very short term chart. The market will whip you around and you will be chasing you tail half the time...
It is important to read the fundamentals, look for the trend (if one) and enter on an intraday chart. Here are a few examples on the 60 minute charts below...
Now the GBPUSD hit the top of its channel 2 weeks ago on the daily chart so it is no surprise that it has had a retracement. You can see the entry point as it fell through the 200MA on the 60 min chart last monday at 2.0900.
The USD CAD has seen a bounce off the lows at 0.9000 and as you can see from the 60 min chart the candles crossed at 0.9400 to show me a short term trend reversal. Even if you held that position for only 4/5 days u would have made 500 points...
GBPCHF has again been a dream to trade. Fundamentally with GBP slightly weakening in the last week or so, the all time 'safe haven' in the CHF has strengthened. We have seen the currency fall below the 200MA 2 weeks ago at 2.4000 and is now trading at 2.2750. 1250 points lower in 2 weeks...That would be a lot of work on a short term chart.
Take a look at the JPY chart below..The trend has been down for a few weeks now and it's all about the entry level. The red conductors have assisted us here and we have finally broken the 110.00 support level. Another great currency to watch...
Take a look at the GBPJPY chart. Can u now start seeing a familiarity with my charts. The break occured up at 238.00 and it is best to sell on each lower high below the 200MA...The red conductors have nailed this currency pair here...
And finally look at the Jan oil chart below. I have been stressing how bid this market has been. Look how Tuesday crossed above the 200MA with the Green conductor confirming a perfect buy trade from $95 to $99.00.
If you believe in a trade fundamentally and the Technicals agree, then look to trade. The more patient you are the better the trader you will. Remember to give yourself a little distance on your stop losses so your don't get whipped around too much...Good luck!!!
It has been an interesting few weeks in the markets and all areas seem to be getting hit quite hard. You do find that markets over react and extreme price movements occur from being overvalued to undervalued. The financial credit markets are definitely suffering but this has happened before and they will get it resolved at some stage.
The markets in my view have been extremely overvalued and to be honest this pull back was always going to happen. (Remember my elastic band theory!!!)
Now i keep telling MDS Traders to trade off the longer term charts, as this is where the money lies. I keep getting fantastic results from clients who stick to this rule and i will show you some charts examples below. The people who struggle, day in day out are the ones who try and beat the market on a very short term chart. The market will whip you around and you will be chasing you tail half the time...
It is important to read the fundamentals, look for the trend (if one) and enter on an intraday chart. Here are a few examples on the 60 minute charts below...
Now the GBPUSD hit the top of its channel 2 weeks ago on the daily chart so it is no surprise that it has had a retracement. You can see the entry point as it fell through the 200MA on the 60 min chart last monday at 2.0900.
The USD CAD has seen a bounce off the lows at 0.9000 and as you can see from the 60 min chart the candles crossed at 0.9400 to show me a short term trend reversal. Even if you held that position for only 4/5 days u would have made 500 points...
GBPCHF has again been a dream to trade. Fundamentally with GBP slightly weakening in the last week or so, the all time 'safe haven' in the CHF has strengthened. We have seen the currency fall below the 200MA 2 weeks ago at 2.4000 and is now trading at 2.2750. 1250 points lower in 2 weeks...That would be a lot of work on a short term chart.
Take a look at the JPY chart below..The trend has been down for a few weeks now and it's all about the entry level. The red conductors have assisted us here and we have finally broken the 110.00 support level. Another great currency to watch...
Take a look at the GBPJPY chart. Can u now start seeing a familiarity with my charts. The break occured up at 238.00 and it is best to sell on each lower high below the 200MA...The red conductors have nailed this currency pair here...
And finally look at the Jan oil chart below. I have been stressing how bid this market has been. Look how Tuesday crossed above the 200MA with the Green conductor confirming a perfect buy trade from $95 to $99.00.
If you believe in a trade fundamentally and the Technicals agree, then look to trade. The more patient you are the better the trader you will. Remember to give yourself a little distance on your stop losses so your don't get whipped around too much...Good luck!!!
Wednesday, 21 November 2007
Market Wrap, Thursday 21st November 2007, 8pm
The FTSE was down today, closing at 6,070.9, down 155.6 points on the day. The FTSE was down 271 points at 10,229.
By London's close the DJI was down 125 points at 12,884, and the SandP 500 down 16 points at 1,423. Nasdaq was down 35 points at 2,562.
Back here, Northern Rock was down yet again, over 12% today, closing at under 85p (down over 12p). Really not a good outlook with this one. Other banks followed, with Barclays down 26p at 490, HBOS down 28p at 713, and RBS down 15.5p at 397.
DGMT fell 51p, or nearly 10% to 525.5p after failing to meet expectations.
Miners didn't do too well, either, with Kazakhmys falling 87p to 1,254 on the Chief Executive's news that they weren't expecting a good year.
British Land lost 20p to 853 on broker downgrade, whilst builders in general did poorly. Barratts down 26.5p at 460p, Taylor Wimpey down 6.5p at 184, Persimmons down 47p at 752p, Bovis down 19p to 618 and Bellways down 52.5p at 939.5. All on concerns about the UK housing market in general.
Only oil seemed to do well, with Royal Dutch Shell up 35p at 2,003 and BG Group up 24p at 996. This linked with the price of the black stuff, which we went over this morning.
As also mentioned this morning, the London Stock Exchange was out of favour and fell today, ending down 147p at 1,739 after a 3% stake was sold by Banca Monte dei paschi di Siena.
By London's close the DJI was down 125 points at 12,884, and the SandP 500 down 16 points at 1,423. Nasdaq was down 35 points at 2,562.
Back here, Northern Rock was down yet again, over 12% today, closing at under 85p (down over 12p). Really not a good outlook with this one. Other banks followed, with Barclays down 26p at 490, HBOS down 28p at 713, and RBS down 15.5p at 397.
DGMT fell 51p, or nearly 10% to 525.5p after failing to meet expectations.
Miners didn't do too well, either, with Kazakhmys falling 87p to 1,254 on the Chief Executive's news that they weren't expecting a good year.
British Land lost 20p to 853 on broker downgrade, whilst builders in general did poorly. Barratts down 26.5p at 460p, Taylor Wimpey down 6.5p at 184, Persimmons down 47p at 752p, Bovis down 19p to 618 and Bellways down 52.5p at 939.5. All on concerns about the UK housing market in general.
Only oil seemed to do well, with Royal Dutch Shell up 35p at 2,003 and BG Group up 24p at 996. This linked with the price of the black stuff, which we went over this morning.
As also mentioned this morning, the London Stock Exchange was out of favour and fell today, ending down 147p at 1,739 after a 3% stake was sold by Banca Monte dei paschi di Siena.
Morning Wrap, Wednesday, 21st November 2007, 9.30am
The FTSE opend down this morning, with about 60points off the close price of yesterday to 6,167 by 9am. The FTSE 250 was 220 lower at 10,279.
Overnight the DJI closed up nearly 52 points at 13,010.
In the Far East the Nikkei 225 closed down 374 points at 14,837 and the Hang Seng was down 925 points at 26,845 after its morning session.
Oil trading in Hong Kong rose above US$99 bbl as the dollar value falls. Light sweet crude (Jan delivery) up 94 cents from yesterday's record close. Brent North Sea crude (Jan delivery) was up 87 cents at US$96.36 bbl.
Things get worse at Northern Rock, top of the loser board this morning, down another 14p at 83p. Al bids are lower than current 'valuation' of share price, they say. Other banks also fell, with Alliance & Leicester was down 25p at 568, Barclays was down 18p at 498, HBOS was down 24p at 717 and Lloyds TSB was down 12p at 459.
Airline British Airways was down 9p at 325 as news was about that they planned a bid for Iberia.
Builders were down on house market opinion - Taylor Wimpey was down 6.4p at 184 and Barratts was down 23p at 462. Bellway was down 40p at 950 as well.
Oil and fuellers - BG Group was up 6p at 978p and RD Shell was up 20p at 1,988.
The London Stock Exchange was down over 120p at 1,761 as news arrived of news of a 3% stake sold by Spanish outfit.
Overnight the DJI closed up nearly 52 points at 13,010.
In the Far East the Nikkei 225 closed down 374 points at 14,837 and the Hang Seng was down 925 points at 26,845 after its morning session.
Oil trading in Hong Kong rose above US$99 bbl as the dollar value falls. Light sweet crude (Jan delivery) up 94 cents from yesterday's record close. Brent North Sea crude (Jan delivery) was up 87 cents at US$96.36 bbl.
Things get worse at Northern Rock, top of the loser board this morning, down another 14p at 83p. Al bids are lower than current 'valuation' of share price, they say. Other banks also fell, with Alliance & Leicester was down 25p at 568, Barclays was down 18p at 498, HBOS was down 24p at 717 and Lloyds TSB was down 12p at 459.
Airline British Airways was down 9p at 325 as news was about that they planned a bid for Iberia.
Builders were down on house market opinion - Taylor Wimpey was down 6.4p at 184 and Barratts was down 23p at 462. Bellway was down 40p at 950 as well.
Oil and fuellers - BG Group was up 6p at 978p and RD Shell was up 20p at 1,988.
The London Stock Exchange was down over 120p at 1,761 as news arrived of news of a 3% stake sold by Spanish outfit.
Tuesday, 20 November 2007
Market Wrap, Tuesday 20th November 2007, 8pm
The FTSE was up over 100 points today, finishing at 6,226.5, up nearly 106 points.
By London's close the DJI was up about 120 points at 13,078. The SandP 500 was up 15p at 1,448 and the Nasdaq was up 34 points at 2,627.
Icap was at the top of the leader board today, up 73.5p to 645p after reporting a 34% rise in 6 month profits and forecasts beating analysts predictions for the year.
3i Group was up 76p at 1,110 (helped by buying its own shares), and Man Group was up 16.5p at 513.5 as fund managers seemed popular.
Barclays did well, up 25.5p to 516 at 516.5, while RBS gained 8.5p to 412.5, HSBC added 8.5p to 834.5, and Alliance & Leicester shares took on 12.5p to 594.
On the other hand, Northern Rock was down again - the biggest blue chip faller, down another 7p at 97. We still say there's further to go on this one. The Bank of England start calling the interest in on the £24 bln shortly. We have jumped on the short band wagon again, but are careful that these shorts need closing some day. Be careful. JC Flowers has apparently offered to repay £15bln of the loan immediately if its offer goes through.
Tullow Oil was down 34p at 597 on broker downgrade.
Scottish & Newcastle lost 9.5p to 729 on people being wary about its possible buffing of the Carlsberg interest, especially as it had issued a proifit warning.
Stagecoach gained nearly 11p on broker upgrade with 278p target.
By London's close the DJI was up about 120 points at 13,078. The SandP 500 was up 15p at 1,448 and the Nasdaq was up 34 points at 2,627.
Icap was at the top of the leader board today, up 73.5p to 645p after reporting a 34% rise in 6 month profits and forecasts beating analysts predictions for the year.
3i Group was up 76p at 1,110 (helped by buying its own shares), and Man Group was up 16.5p at 513.5 as fund managers seemed popular.
Barclays did well, up 25.5p to 516 at 516.5, while RBS gained 8.5p to 412.5, HSBC added 8.5p to 834.5, and Alliance & Leicester shares took on 12.5p to 594.
On the other hand, Northern Rock was down again - the biggest blue chip faller, down another 7p at 97. We still say there's further to go on this one. The Bank of England start calling the interest in on the £24 bln shortly. We have jumped on the short band wagon again, but are careful that these shorts need closing some day. Be careful. JC Flowers has apparently offered to repay £15bln of the loan immediately if its offer goes through.
Tullow Oil was down 34p at 597 on broker downgrade.
Scottish & Newcastle lost 9.5p to 729 on people being wary about its possible buffing of the Carlsberg interest, especially as it had issued a proifit warning.
Stagecoach gained nearly 11p on broker upgrade with 278p target.
Monday, 19 November 2007
Market Wrap, Monday 20th November 2007, 7pm
The FTSE 100 fell sharply today after a fairly even start. It finished the day at 6,120.8, down over 170 points. This was actually the day's low. The high of the day was 6,331, so it was quite a sharp fall back. The FTSE 250 was 361.76 points lower at 10,404.5. Current financial concerns with sub-prime and credit still getting the blame. Even banks are worried about borrowing from each other now, it seems.
By the time London closed the DJI was down over 160 points at 13,110. News that Citigroup have written down US$15 bln of dodgy debt wasn't welcome.
Back here we still has some more Northern Rock dramas as it fell to just above the quid mark at 104 on further bad news. The stock fell like a stone nearly 30p to 104 as the bank reluctantly informed us all that any bids and interest from potential buyers has so far been "materially below" its UK£559m cap of Friday's close. A 20% nose dive was in order. Like we said this morning, dilution requiring an aqualung seems in order. Remember, whoever does move in for the bank (and American Flowers looks favourite) has the small issue of £24 bln to repay to the Bank of England. Late afternoon press reported that the general public may end up helping (by way of tax cash used, of course). The bank's loan has been extended to 5 years, with interest being rolled up into a subordinate loan.
And it gets better. Other banks also felt the reaction on rumours of yet another bank's cap in hand at the Bank of England. Not sure who. Anyway, Alliance and Leicester closed down 25.5p at 581.5, HBOS shares closed down 29.5p at 730, and Barclays fell nearly 18p to 491.
House builder Barratts turned down after its rise early doors to finish down 24.5p lower at just under 480p. This on concerns about the UK housing market in general. Estate Agent Countrywide, the Estate Agent, said that after a succession of cancelled sales and other negativity it would be closing some branches. Today's press expressing concerns on house sales and price falls being imminent was taken on board by investors and Rightmove said UK prices have fallen 0.7% last month and the annualised growth being down from 10.4% to 7.9%. British Land finished 69p lower at 820.5 and Land Securities was down 92p at 1,377 as a reaction.
Miners didn't fair too well either, with BHP falling 83p to 1,519 on broker downgrade, Anglo was down 224p to 2,862, and Lonmin was 238p lower at 2,859 on broker downgrade. Overnight commodity prices falling over night didn't help.
DSG International was down 6.6p to 106.5 on broker downgrades.
One financial positive was the bank Standard Chartered, which was up 15p to 1,679 after the press report we mentioned this morning about 3 Chinese banks sniffing for the 17% owned by Temasek.
By the time London closed the DJI was down over 160 points at 13,110. News that Citigroup have written down US$15 bln of dodgy debt wasn't welcome.
Back here we still has some more Northern Rock dramas as it fell to just above the quid mark at 104 on further bad news. The stock fell like a stone nearly 30p to 104 as the bank reluctantly informed us all that any bids and interest from potential buyers has so far been "materially below" its UK£559m cap of Friday's close. A 20% nose dive was in order. Like we said this morning, dilution requiring an aqualung seems in order. Remember, whoever does move in for the bank (and American Flowers looks favourite) has the small issue of £24 bln to repay to the Bank of England. Late afternoon press reported that the general public may end up helping (by way of tax cash used, of course). The bank's loan has been extended to 5 years, with interest being rolled up into a subordinate loan.
And it gets better. Other banks also felt the reaction on rumours of yet another bank's cap in hand at the Bank of England. Not sure who. Anyway, Alliance and Leicester closed down 25.5p at 581.5, HBOS shares closed down 29.5p at 730, and Barclays fell nearly 18p to 491.
House builder Barratts turned down after its rise early doors to finish down 24.5p lower at just under 480p. This on concerns about the UK housing market in general. Estate Agent Countrywide, the Estate Agent, said that after a succession of cancelled sales and other negativity it would be closing some branches. Today's press expressing concerns on house sales and price falls being imminent was taken on board by investors and Rightmove said UK prices have fallen 0.7% last month and the annualised growth being down from 10.4% to 7.9%. British Land finished 69p lower at 820.5 and Land Securities was down 92p at 1,377 as a reaction.
Miners didn't fair too well either, with BHP falling 83p to 1,519 on broker downgrade, Anglo was down 224p to 2,862, and Lonmin was 238p lower at 2,859 on broker downgrade. Overnight commodity prices falling over night didn't help.
DSG International was down 6.6p to 106.5 on broker downgrades.
One financial positive was the bank Standard Chartered, which was up 15p to 1,679 after the press report we mentioned this morning about 3 Chinese banks sniffing for the 17% owned by Temasek.
Morning Market, Monday 19th November 2007, 9.15am
The FTSE was up about 15 points by 9am. The FTSE 250 was up nearly 100 points at 10,863.
Over the pond at the end of last week, the DJI closed up about 67 points at 13,176 on Friday. Also on Friday's close the SandP 500 finished up 5.5 points at 1,458 and the Nasdaq closed up nearly 19 points at 2,637.
In the Far East today the Nikkei 225 at 15,042 and by lunchtime in Hong Kong the Hang seng was was down 240 points at 27,374.
Oil is sneaking up again, with Light Sweet (Jan delivery) at up 65 cents at US$94.5.
Here in London this morning, the housing sector had something positive at long last with a positive statement from Barratts, who jumped 20p to 524. The house builder said that its actual sold house prices were also up 2%, despite more discounts given than last year. An immediate broker upgrade and 10-quid per share target helped its early rise this morning.
Standard Chartered were up a healthy 65p to 1,731 after newspaper reports of an approach by 3 Chinese banks after a 17% stake in the bank.
Advertising and marketing company, WPP, gave us news of a 75% stake in an Indian web agency firm, which will help them grow in a fast-moving market. Indian digital advertising is expected to be near US$600m by 2009, which is about 7% of total adversing spend in the country.
The ongoing saga at Northern Rock got worse as the troubled bank said that offers so far were considerably lower than its current trading price, which capped the bank at about £560m at the close on friday. No suprises there for most of us. Our comments from last month about dilution and aqualungs required coming to mind.
The BHP vs RIO battle continues. BHP claimed it had its shareholders onside for a potential Rio merger, said a major newspaper. The share price fell 10p to 1,592 this morning.
FTSE 250 mining favourite Burren Energy fell 210p to 678 after the recent talks with Italy's Eni were ceased by the Italians.
Over the pond at the end of last week, the DJI closed up about 67 points at 13,176 on Friday. Also on Friday's close the SandP 500 finished up 5.5 points at 1,458 and the Nasdaq closed up nearly 19 points at 2,637.
In the Far East today the Nikkei 225 at 15,042 and by lunchtime in Hong Kong the Hang seng was was down 240 points at 27,374.
Oil is sneaking up again, with Light Sweet (Jan delivery) at up 65 cents at US$94.5.
Here in London this morning, the housing sector had something positive at long last with a positive statement from Barratts, who jumped 20p to 524. The house builder said that its actual sold house prices were also up 2%, despite more discounts given than last year. An immediate broker upgrade and 10-quid per share target helped its early rise this morning.
Standard Chartered were up a healthy 65p to 1,731 after newspaper reports of an approach by 3 Chinese banks after a 17% stake in the bank.
Advertising and marketing company, WPP, gave us news of a 75% stake in an Indian web agency firm, which will help them grow in a fast-moving market. Indian digital advertising is expected to be near US$600m by 2009, which is about 7% of total adversing spend in the country.
The ongoing saga at Northern Rock got worse as the troubled bank said that offers so far were considerably lower than its current trading price, which capped the bank at about £560m at the close on friday. No suprises there for most of us. Our comments from last month about dilution and aqualungs required coming to mind.
The BHP vs RIO battle continues. BHP claimed it had its shareholders onside for a potential Rio merger, said a major newspaper. The share price fell 10p to 1,592 this morning.
FTSE 250 mining favourite Burren Energy fell 210p to 678 after the recent talks with Italy's Eni were ceased by the Italians.
Friday, 16 November 2007
Market Wrap, Friday 16th November 2007, 8pm
The FTSE was down again today, closing at 6,291, down over 68 points, The FTSE 250 was down 135 points at 10,766.
By the time London closed New York was fairly even, down just 3 points at 13,107. The SandP 500 was down 1 points at 1,449 and nasdaq down 14 points at 2,604.
Here in London it was the banks that took a pasting. Alliance and Leicester were down 41p at 607 as investors were of firm belief that they aren't far behind Northern Rock in the queue at the Bank of England. Northern Rock were also down, closing at 132.6p, down 2.1p. Other banks didn't fair very well eithr - HBOS was down 23.5p at 759.5 and RBS was down 22p at 426.5.
British Airways fell out the sky, nearly, down 13.5p to 345.5, it's lowest level for a year or so. This on the leaking of the compensation plan for cancelled flights that we mentioned this morning.
British Land was down 22.5p at 889.5 on feers about the building and property sector reaction to all the bad credit reports etc.
Some good news was by way of Sainsbury's, who closed up over 8p at 413.5 as investors moved back in after the recent Qatari bid failure. Tescos was up 3p at 484.5 and Morrisons up over 3p at 283p as the peers followed the leader of the sector today.
Another good story was Vedanta, who were up a very respectable 77p at 2,060 after its results pleased everyone yesterday, and they all still seemed happy today as well. Difficult to work out the RIO/BHP battle at the moment. Rio adopting pac-man tactics, threatening a bid for BHP in reaction to BHP's bid for Rio. Rio's problem being that BHP is valued at 3 times the size of Rio, so it would be harder to convince everyone who was taking who over. It also shows that Rio at least 'sort of' agree that a deal with BHP is workable too, which now makes the BHP 3.5-BHP-shares-for-1-Rio look more attractive. Still, we'll wait and see what develops.
By the time London closed New York was fairly even, down just 3 points at 13,107. The SandP 500 was down 1 points at 1,449 and nasdaq down 14 points at 2,604.
Here in London it was the banks that took a pasting. Alliance and Leicester were down 41p at 607 as investors were of firm belief that they aren't far behind Northern Rock in the queue at the Bank of England. Northern Rock were also down, closing at 132.6p, down 2.1p. Other banks didn't fair very well eithr - HBOS was down 23.5p at 759.5 and RBS was down 22p at 426.5.
British Airways fell out the sky, nearly, down 13.5p to 345.5, it's lowest level for a year or so. This on the leaking of the compensation plan for cancelled flights that we mentioned this morning.
British Land was down 22.5p at 889.5 on feers about the building and property sector reaction to all the bad credit reports etc.
Some good news was by way of Sainsbury's, who closed up over 8p at 413.5 as investors moved back in after the recent Qatari bid failure. Tescos was up 3p at 484.5 and Morrisons up over 3p at 283p as the peers followed the leader of the sector today.
Another good story was Vedanta, who were up a very respectable 77p at 2,060 after its results pleased everyone yesterday, and they all still seemed happy today as well. Difficult to work out the RIO/BHP battle at the moment. Rio adopting pac-man tactics, threatening a bid for BHP in reaction to BHP's bid for Rio. Rio's problem being that BHP is valued at 3 times the size of Rio, so it would be harder to convince everyone who was taking who over. It also shows that Rio at least 'sort of' agree that a deal with BHP is workable too, which now makes the BHP 3.5-BHP-shares-for-1-Rio look more attractive. Still, we'll wait and see what develops.
Morning Market, Friday 16th November 2007 9.30am
The FTSE was down 40 points this morning at 6,320 and New York closed down last night. The FTSE 250 was down about 60 points as well this morning.
In New York last night the DJI was down 21 points at 13,110.5 last night. SandP 500 finished down about 20points at 1,451 and the Nasdaq was down 26 points at 2,618. New York was lower due to concerns on the economy in general.
Over night in the Far East we also saw more negativity, with the Nikkei 225 index down 241 points at 15,154. In Hong Kong the Hang Seng was half way through the day down 1,110 points at 27,636.
Oil was starting to trade a little higher after this week's fall back. In New York light sweet crude (Dec delivery) was up 9cents at US$ 93.5 bbl. Brent North Sea crude (Jan delivery) was just a cent higher at US$90.2 bbl. Royal Dutch Shell was up 6p at 1,960, and Tullows was up 10p at 658 early doors.
Northern Rock shares were down a penny at 133.6 as it ponders over half a dozen - possibly 8, proposals to buy all or part of the struggling banking group. It appears The US guys, JC Flowers, Sir Richard Branson's Virgin Group and Cerberus are among the top 3 in the frame.
Alliance & Leicester was down 23p at 624, HBOS down 23 at 759, and RBS 11p at 438.
British Airways was down 6p to 353 as newspapers reported a posibly multi-million compensation bill after it was leaked that the airline has agreed to pay passengers £430 each for cancelled flights.
British Land was down 30p at 883 on broker downgrade as figures weren't spectacular. The firm is stuck with the Meadowhall Centre, which is stilkl unsold, and may have to write back some values there.
Scottish & Newcastle were up a penny at 758 as Carlsberg keep on and on, trying to get the brewing firm. The Russian expansion beinbg the key point in the deal, as S and N own 50% of the Baltica brand firm in Russia. S and N have told them to naff off with the totally inadequate offer, depsite the offer valuing the firm at £7.3 bln. Russian beer consumption is rising at double figure growth, and looks liek continuing. The Danish firm, Carlsberg, wants the other 50% that is already owns.
BHP was up 21p at 1,619 on rumours that Rio, who BHP had bid for last week, were going to bid back. Almost a soap opera. Rio was down 55p at 5,361 after rejecting the BHP 3 and a half shares for one offer.
In New York last night the DJI was down 21 points at 13,110.5 last night. SandP 500 finished down about 20points at 1,451 and the Nasdaq was down 26 points at 2,618. New York was lower due to concerns on the economy in general.
Over night in the Far East we also saw more negativity, with the Nikkei 225 index down 241 points at 15,154. In Hong Kong the Hang Seng was half way through the day down 1,110 points at 27,636.
Oil was starting to trade a little higher after this week's fall back. In New York light sweet crude (Dec delivery) was up 9cents at US$ 93.5 bbl. Brent North Sea crude (Jan delivery) was just a cent higher at US$90.2 bbl. Royal Dutch Shell was up 6p at 1,960, and Tullows was up 10p at 658 early doors.
Northern Rock shares were down a penny at 133.6 as it ponders over half a dozen - possibly 8, proposals to buy all or part of the struggling banking group. It appears The US guys, JC Flowers, Sir Richard Branson's Virgin Group and Cerberus are among the top 3 in the frame.
Alliance & Leicester was down 23p at 624, HBOS down 23 at 759, and RBS 11p at 438.
British Airways was down 6p to 353 as newspapers reported a posibly multi-million compensation bill after it was leaked that the airline has agreed to pay passengers £430 each for cancelled flights.
British Land was down 30p at 883 on broker downgrade as figures weren't spectacular. The firm is stuck with the Meadowhall Centre, which is stilkl unsold, and may have to write back some values there.
Scottish & Newcastle were up a penny at 758 as Carlsberg keep on and on, trying to get the brewing firm. The Russian expansion beinbg the key point in the deal, as S and N own 50% of the Baltica brand firm in Russia. S and N have told them to naff off with the totally inadequate offer, depsite the offer valuing the firm at £7.3 bln. Russian beer consumption is rising at double figure growth, and looks liek continuing. The Danish firm, Carlsberg, wants the other 50% that is already owns.
BHP was up 21p at 1,619 on rumours that Rio, who BHP had bid for last week, were going to bid back. Almost a soap opera. Rio was down 55p at 5,361 after rejecting the BHP 3 and a half shares for one offer.
Thursday, 15 November 2007
Market Wrap, Thursday 15th November, 7.30pm
The FTSE closed down 72.5 points at 6,359.6 - this after hitting 6,465 early on - that's 106 points lower.
Even Barclays ended up closing 2p lower at 523.5, this despite being at 569.5p early in the session. This mainly on the report of a 31.3 bln write down on sub-prime and bad debt. RBS closed down 18.5p at 448.5, and Alliance and Leicester closed down 21p at 647.
BP closed won 13.5p at 586 and RD Shell closed won 10p at 1,933 as the oil price fell back a bit.
Scotish and Newcastle had a better day as Heineken and Carlsberg were still sniffing and offered 750p a share. S and N closed up 16.5p at 757. In contrast, peer SABMiller was off 43p at 1,334 as investors felt the cautious outlook statement was more interesting than the reported 15% rise in profits.
Cable and Wireless also finished up on M and A rumours as France telecome was apparently taking a look with a plan to bit. C and W finished up 3.6p at 184.4 on the talk.
Ladbrokes took a pasting, down 35p at 344 after reporting it had taken some hits on betting, especially football, where the favourites ahd been playing to form of late.
Even Barclays ended up closing 2p lower at 523.5, this despite being at 569.5p early in the session. This mainly on the report of a 31.3 bln write down on sub-prime and bad debt. RBS closed down 18.5p at 448.5, and Alliance and Leicester closed down 21p at 647.
BP closed won 13.5p at 586 and RD Shell closed won 10p at 1,933 as the oil price fell back a bit.
Scotish and Newcastle had a better day as Heineken and Carlsberg were still sniffing and offered 750p a share. S and N closed up 16.5p at 757. In contrast, peer SABMiller was off 43p at 1,334 as investors felt the cautious outlook statement was more interesting than the reported 15% rise in profits.
Cable and Wireless also finished up on M and A rumours as France telecome was apparently taking a look with a plan to bit. C and W finished up 3.6p at 184.4 on the talk.
Ladbrokes took a pasting, down 35p at 344 after reporting it had taken some hits on betting, especially football, where the favourites ahd been playing to form of late.
Nikkei 225 off support this week
The Nikkei 225 showed some strong support at 15,000 earlier this week. Whilst today was negative, one can see how the Market Analyser picked up the turn. Be careful going long at the moment, though - world economy is changing...
USDCAD powers on 125 points...
USDCAD is finding support again this morning.
Take a look how the Candles hold the 200MA at the 0.9600 level. The Green conductor alerted us to the move on the 60 minute chart at 08.00 this am and the 15 min gave us an excellent entry point with a stop below the figure.
Take a look how the Candles hold the 200MA at the 0.9600 level. The Green conductor alerted us to the move on the 60 minute chart at 08.00 this am and the 15 min gave us an excellent entry point with a stop below the figure.
Morning Market, Thursday 15th November 2007, 9.30am
The FTSE fell early doors, down about 35 points by 9am.
Last night the DJI closed down 76 points at 13,231, the SandP 500 fell 10.5 points to 1,470.5, and the Nasdaq was down 103 points at 15,396.
Over night in the far east the Nikkei 225 closed down about 104 points on yesterday at 15,418, despite opening at 15,536 today. The trend for the Nikkei is up, though, coming off a strong support line. In Hong Kong, the Hang Seng was also down 120 points on the day 28,751 after a close at 29,166 yesterday. The Hang Seng bounced off the 509-day MA with a hammer, but has baulked at the 20-day MA.
Oil was at $94 for Light Sweet (Dec delivery) and $91.25 for Brent.
Barclays announced an £800m write down on US exposed sub-prime loans in October, plus a firther £500m for the 3rd quarter in all, but this wasn't as bad as some expected. Barclays was up a 27p since yetserday, but just a penny on the day at 544p.
SABMiller was down 47p at 1,328 on a 15% rise in 6-month pre-tax profits at US$1.77 bln.
British Land was down 7p at 943 after 6-month profits up with an even NAV. They were bullish, but the market wasn't as happy.
Miners - Vedanta was up 63p at 2,032 on a near 6% increase for interims. Anto was 30p up at 775, and Kazakhmys was 12p up at 1,469 on broker upgrade.
Kingfisher was up 4p at 186.5 on another broker upgrade, which even had a 230p target. Scottish & Newcastle was up 24p 764 after Heineken and Carlsberg came in again with a bid of 750p for the group.
Last night the DJI closed down 76 points at 13,231, the SandP 500 fell 10.5 points to 1,470.5, and the Nasdaq was down 103 points at 15,396.
Over night in the far east the Nikkei 225 closed down about 104 points on yesterday at 15,418, despite opening at 15,536 today. The trend for the Nikkei is up, though, coming off a strong support line. In Hong Kong, the Hang Seng was also down 120 points on the day 28,751 after a close at 29,166 yesterday. The Hang Seng bounced off the 509-day MA with a hammer, but has baulked at the 20-day MA.
Oil was at $94 for Light Sweet (Dec delivery) and $91.25 for Brent.
Barclays announced an £800m write down on US exposed sub-prime loans in October, plus a firther £500m for the 3rd quarter in all, but this wasn't as bad as some expected. Barclays was up a 27p since yetserday, but just a penny on the day at 544p.
SABMiller was down 47p at 1,328 on a 15% rise in 6-month pre-tax profits at US$1.77 bln.
British Land was down 7p at 943 after 6-month profits up with an even NAV. They were bullish, but the market wasn't as happy.
Miners - Vedanta was up 63p at 2,032 on a near 6% increase for interims. Anto was 30p up at 775, and Kazakhmys was 12p up at 1,469 on broker upgrade.
Kingfisher was up 4p at 186.5 on another broker upgrade, which even had a 230p target. Scottish & Newcastle was up 24p 764 after Heineken and Carlsberg came in again with a bid of 750p for the group.
GBP falls on London open...
The Bank of England has signaled it will cut interest rates at least once next year to bolster the economy.
The market has seemed to have taken on board the negative growth risk rather than the inflation risk and unless we see good retail sales figures GBP will find it hard to keep maintaining this strength.
The central bank said in its quarterly report yesterday that assuming borrowing costs reduce next year, inflation will slow to the bench mark of 2.0% by 2009. Inflation was at 2.1% last month...
With this in mind i woke looking to get short of cable and GBPJPY this morning...So far we have fallen 150 points on london open from 2.0600 to 2.440 and 400 points in GBPJPY from 229.50 to 225.50.
Fundamentals answer a lot of questions to why u want to enter trades. The technicals this morning gave me the entry level...
Good luck
The market has seemed to have taken on board the negative growth risk rather than the inflation risk and unless we see good retail sales figures GBP will find it hard to keep maintaining this strength.
The central bank said in its quarterly report yesterday that assuming borrowing costs reduce next year, inflation will slow to the bench mark of 2.0% by 2009. Inflation was at 2.1% last month...
With this in mind i woke looking to get short of cable and GBPJPY this morning...So far we have fallen 150 points on london open from 2.0600 to 2.440 and 400 points in GBPJPY from 229.50 to 225.50.
Fundamentals answer a lot of questions to why u want to enter trades. The technicals this morning gave me the entry level...
Good luck
Wednesday, 14 November 2007
Market Wrap, Wednesday, 14th November 2007, 8pm
The FTSE was up almost 70 points today, finishing the session at 6,480.8. The FTSE 250 ended up 150.7 points at 11,071.
Over the pond, by the time London closed the DJI was at 13,297, down 13 points.
Here in the UK the miners did well today, with Lonmin's results boosting the sector in general. Platinum king Lonmin finished up 123p at 3,200 with full year profit of US$ 794m. Others followed suit, with Vedanta up 82p at 1,969, Kazakhmys finishing up 96p at 1,459, Xstrata up 138p at 3,388 and Anto ending up 42p at 745.
Oil stocks also did well as the price per bbl rose again, with BP up 16.5p at 599.5 and Tullow Oil up 32.5p at 645.5.
Some Merger and Acquisition action was about on Unilever as it announced it had sold its US brand Lawry's and Adolph's for some decent cash. It finished up 27p at 1,767.
HSBC finished up 23.5p at 866 after it said that growth had covered its sub-prime exposure. It also said that if it needed any cash it got it and that it was buying back its own shares for treasury. That gave investors some confidence.
Sainsburys finished down 13p at 413 after investors expressed disappointment at the firm's unwillingness to split the company into two firms - one for property and one for retail. The firm posted some decent results, but no better than expected. There was also news, as we mentioned this morning, of the JV with Land Securities. None of this helped, it seems, with any good news already built into the price.
Over the pond, by the time London closed the DJI was at 13,297, down 13 points.
Here in the UK the miners did well today, with Lonmin's results boosting the sector in general. Platinum king Lonmin finished up 123p at 3,200 with full year profit of US$ 794m. Others followed suit, with Vedanta up 82p at 1,969, Kazakhmys finishing up 96p at 1,459, Xstrata up 138p at 3,388 and Anto ending up 42p at 745.
Oil stocks also did well as the price per bbl rose again, with BP up 16.5p at 599.5 and Tullow Oil up 32.5p at 645.5.
Some Merger and Acquisition action was about on Unilever as it announced it had sold its US brand Lawry's and Adolph's for some decent cash. It finished up 27p at 1,767.
HSBC finished up 23.5p at 866 after it said that growth had covered its sub-prime exposure. It also said that if it needed any cash it got it and that it was buying back its own shares for treasury. That gave investors some confidence.
Sainsburys finished down 13p at 413 after investors expressed disappointment at the firm's unwillingness to split the company into two firms - one for property and one for retail. The firm posted some decent results, but no better than expected. There was also news, as we mentioned this morning, of the JV with Land Securities. None of this helped, it seems, with any good news already built into the price.
Inflation Figures hitting Currency markets...
After last weeks aggressive selling in the US Market, the Dow finally found a support level at 13,000. The confirmation of this change in trend was at 13.00 yesterday afternoon. The Green conductor confirmed a trade and the Dow bounced 160 points...Lets see how the Dow holds up this afternoon...
The GBPUSD recovered some of its losses yesterday and retraced back to its 200MA. It didn't cross until 22.00 but from there it powered on 150 points to a high at 2.0850. I don't expect to trade throughout the night but this where T/P orders are very useful. Don't get greedy but at least its a great way to make money when u r sleeping... Inflation figures have just come out so we have seen a fall of nearly 200 points from its high. Take a look at the support line here and sell orders were triggered just below 2.0750 for a push lower.
As you all know USDCAD is one of my favourite currencies as it seems to be so predictable to trade. I saw the cross below the 200MA overnight and the red conductor appeared at 04.00 this morning. The 20 and 50 MA were with the Trend so i went short on london open with a stop loss above 0.9615 on the cross. My T/P was at 0.9518 (knowing we would probably see a bounce off 0.9500) for a 60 point profit.
The GBPUSD recovered some of its losses yesterday and retraced back to its 200MA. It didn't cross until 22.00 but from there it powered on 150 points to a high at 2.0850. I don't expect to trade throughout the night but this where T/P orders are very useful. Don't get greedy but at least its a great way to make money when u r sleeping... Inflation figures have just come out so we have seen a fall of nearly 200 points from its high. Take a look at the support line here and sell orders were triggered just below 2.0750 for a push lower.
As you all know USDCAD is one of my favourite currencies as it seems to be so predictable to trade. I saw the cross below the 200MA overnight and the red conductor appeared at 04.00 this morning. The 20 and 50 MA were with the Trend so i went short on london open with a stop loss above 0.9615 on the cross. My T/P was at 0.9518 (knowing we would probably see a bounce off 0.9500) for a 60 point profit.
Morning Market, 14th November 2007, 10am
The FTSE was up about 75 points at 6,438 by 9am, after a 25 point rise yesterday. Mind you, 30 points of the FTSE performance was due to Vodafone's excellent day. The FTSE 250 was up about 150 points at 11,070 this morning as well.
Overnight the DJI finished up strongly, with a 320 point rise on the day ending the session at 13,307. The SandP 500 was up 42 points at 1,481 and Nasdaq was up just shy of 90 points at 2,673. Apparently the concerns about the subprime market aren't too serious, top analysts now say. Wal-mart also posted better than expected 3rd quarter figures.
Overnight in the far east we also saw some positive reaction following the US, with the Nikkei 225 up 373 at a smidge shy of 15,500, which was 2.5% rise on the day, and the Hang Seng up at about 28,800 this morning, a 1,000 points up.
Here in London HSBC was up 35p at 842 after it said any shortfalls due to subprime exposure were more than covered by the firm's growth. RBS was up 15p at 472.5.
Land Securities was up 15p 1,583 after announcing it was splitting the firm into three. Each new firm will cover its 3 main businesses. It gave some downbeat news on profit, saying a fall from £1.2 bln down to £375m for its interim period due to smaller valuation.
Anto was up 25p at 728, and Lonmin was up 140p at 3,217 after its full-year results beat market expectations.
Friends Provident's Chief Executive resigned, seen positive by the market as the price was up 6.5p at 166 on the news.
Scottish & Southern Energy was up 20p to 1,543 on its news of a rise to £665m from £466m on interim profit.
Sainsbury's was down 5p at 420 after its interims were just as expected. The firm also announced a JV with Land Securities on assets.
Overnight the DJI finished up strongly, with a 320 point rise on the day ending the session at 13,307. The SandP 500 was up 42 points at 1,481 and Nasdaq was up just shy of 90 points at 2,673. Apparently the concerns about the subprime market aren't too serious, top analysts now say. Wal-mart also posted better than expected 3rd quarter figures.
Overnight in the far east we also saw some positive reaction following the US, with the Nikkei 225 up 373 at a smidge shy of 15,500, which was 2.5% rise on the day, and the Hang Seng up at about 28,800 this morning, a 1,000 points up.
Here in London HSBC was up 35p at 842 after it said any shortfalls due to subprime exposure were more than covered by the firm's growth. RBS was up 15p at 472.5.
Land Securities was up 15p 1,583 after announcing it was splitting the firm into three. Each new firm will cover its 3 main businesses. It gave some downbeat news on profit, saying a fall from £1.2 bln down to £375m for its interim period due to smaller valuation.
Anto was up 25p at 728, and Lonmin was up 140p at 3,217 after its full-year results beat market expectations.
Friends Provident's Chief Executive resigned, seen positive by the market as the price was up 6.5p at 166 on the news.
Scottish & Southern Energy was up 20p to 1,543 on its news of a rise to £665m from £466m on interim profit.
Sainsbury's was down 5p at 420 after its interims were just as expected. The firm also announced a JV with Land Securities on assets.
Tuesday, 13 November 2007
Market Wrap, Tuesday, 13th November 2007, 6.30pm
The FTSE ended up today, after a bit of a rollercoaster. The session's low was 6,280, the session's high was 6,362, and we finished at 6,362, up 24.5 points on the day. The FTSE 250 also finished up, with a close at 10,920, up just about 26 points on the day. We're all still short on the market in general, to stay with the trend. Much shows like support is here, but we are cautious as there is so much negativity in the air.
Over the pond the DJI was up about 180 points at 13,168 by the time London closed. The SandP 500 was up almost 17 points at 1,455, with the Nasdaq also up nearly 56 points at 2,640.
Here in London Vodafone was up, as it was this morning, with much interest. It finished the day at 195.7, which was up 13.7p (7.5%). A massive rise for this stock. Massive, alright, it's now up to its highest level in 6 or 7 years, after it reported decent growth.
Some of the banks did ok too. Barclays was up 14p at 527, Lloyds TSB was up 10p at 427.5, and RBS finsihed up 18p at almost 458 after rumours were being banted around that someone has been building a decent stake in the bank.
Some of the retailers did ok as well. Tesco was up 12p at 482, and Morrison's was up nearly 11p at 276.5. Both did well on the back of Wal-Mart's figures, it seems.
Unilever, who we also mentioned this morning, ended up 44p at 1,741 on broker upgrade.
negatives on the day were led by the miners, really. Xstrata was down 66p at 3,250, Lonmin down 78p at 3,077, Rio was down 268p at 5,390, and BHP was down 16p at 1,591. There was a rumour that Rio was looking to bid for Anglo. !! This just after BHP moved in for Rio, with its 3-for-1 upped to 3.5-for-1 share offer.
With the oil price falling back a bit now we saw Royal Dutch Sheel finish down 39p at 1,938 and Tullow Oil down 14p at 613.
Over the pond the DJI was up about 180 points at 13,168 by the time London closed. The SandP 500 was up almost 17 points at 1,455, with the Nasdaq also up nearly 56 points at 2,640.
Here in London Vodafone was up, as it was this morning, with much interest. It finished the day at 195.7, which was up 13.7p (7.5%). A massive rise for this stock. Massive, alright, it's now up to its highest level in 6 or 7 years, after it reported decent growth.
Some of the banks did ok too. Barclays was up 14p at 527, Lloyds TSB was up 10p at 427.5, and RBS finsihed up 18p at almost 458 after rumours were being banted around that someone has been building a decent stake in the bank.
Some of the retailers did ok as well. Tesco was up 12p at 482, and Morrison's was up nearly 11p at 276.5. Both did well on the back of Wal-Mart's figures, it seems.
Unilever, who we also mentioned this morning, ended up 44p at 1,741 on broker upgrade.
negatives on the day were led by the miners, really. Xstrata was down 66p at 3,250, Lonmin down 78p at 3,077, Rio was down 268p at 5,390, and BHP was down 16p at 1,591. There was a rumour that Rio was looking to bid for Anglo. !! This just after BHP moved in for Rio, with its 3-for-1 upped to 3.5-for-1 share offer.
With the oil price falling back a bit now we saw Royal Dutch Sheel finish down 39p at 1,938 and Tullow Oil down 14p at 613.
Morning Market, Tuesday 13th November 2007, 9am
The FTSE was down about 40 points at 6,297 early doors this morning. The FTSE 250 was down 40 at 10,854.
Over night the DJI closed at 12,987.55, down 55.19. This in contrast of the session high which was up over 100 points. The Dow is down nearly 9% in a month. Check the chart - what a trade. The SandP 500 was down nearly 15 points at 1,439, whilst Nasdaq was down nearly 44 points at 2,584.
Over night in the far east we had the Nikkei 225 fall over 70 points to 15,126 and, rather oddly, the Hang Seng closed up 137 at 27,803.
Oil was down again, trading at around US$94 bbl in the far east over night.
Back to stocks, this morning Vodafone was up early on after reporting higher revenue for the first 6 months of the year. By 9am VOD was at 118.3, up 6.4p. Broker estimate was raised to a EPS forecast of over 11p per share. Not bad. Cable & Wireless was also up 5.5p at 184.6 after announcing it would be shaking up its senior staff levels and said the future looked bright (but not Orange) with a 100% uplift on Profit (PBIT) for the first six months.
Unilever was up 30p at 1,727 on a broker upgrade.
British Energy was down 13p at 504 after reporting its problems at Hinkley and Hunterston earlier this year had resulted in lost nuclear production.
Over night the DJI closed at 12,987.55, down 55.19. This in contrast of the session high which was up over 100 points. The Dow is down nearly 9% in a month. Check the chart - what a trade. The SandP 500 was down nearly 15 points at 1,439, whilst Nasdaq was down nearly 44 points at 2,584.
Over night in the far east we had the Nikkei 225 fall over 70 points to 15,126 and, rather oddly, the Hang Seng closed up 137 at 27,803.
Oil was down again, trading at around US$94 bbl in the far east over night.
Back to stocks, this morning Vodafone was up early on after reporting higher revenue for the first 6 months of the year. By 9am VOD was at 118.3, up 6.4p. Broker estimate was raised to a EPS forecast of over 11p per share. Not bad. Cable & Wireless was also up 5.5p at 184.6 after announcing it would be shaking up its senior staff levels and said the future looked bright (but not Orange) with a 100% uplift on Profit (PBIT) for the first six months.
Unilever was up 30p at 1,727 on a broker upgrade.
British Energy was down 13p at 504 after reporting its problems at Hinkley and Hunterston earlier this year had resulted in lost nuclear production.
Monday, 12 November 2007
Market Wrap, Monday 12th November 2007, 6pm
The FTSE finished the day in positive terrtory, but we wouldn't call it too much of a celebration, ending up 33 points on the day at a smidge shy of 6,338. That was about 28 ponts off the high of the day. The low of the day was about 70 points lower than the close, which coincided with an incident over at the Stratford Olympic site. Concenrs of terrorism there. The FTSE 250 closed up 35.2 points at just over 10,894.
Over the pond the DJI opened stronger, although trading was fairly light on Veterans' Day. By the time London closed the Dow was at about 13,135, up 92 points, with US banking stocks kicking off nicely, as London did. The US Bond markets are closed today, but there are some figures and announcements due later in the week over the pond that will give some market action, that's for sure. Retail sales and inflation figures amongst the reports due.
Over here we are to receive the CPI data in the morning, which will affect the market for sure. Vodafone are amongst heavyweights that are to be announcing their earnings, as are Cable and Wireless.
The banks faired well today, with Northern Rock up 9.4p at 154.4, Barclays up 38p at 513, RBS up a massive 37p (over 9%) at a touch shy of 440p, HBOS was 44p up on the day at 796.5, and HSBC was up 8.5p at 849, despite the rather large write-downs on the cards in the US. Standard Chartered was up 55p at 1,730 on broker upgrade and a target of 1,800. FTSE 250 bank Bradford & Bingley rose just over 19p to 282.25.
Standard Life finished nearly 16p higher at 259.5 after aborting its Resolution bid citing value for shareholders as a reason not to go higher with their £4.9 bln offer. Pearl Assurance's 720p offer is the only remaining offer for Resolution now. Friends Provident, which had also hoped to merge with Resolution, rose about 7p to 155.6.
Also on the rise were the land stocks, with British land up 11p at 943 and Land Securities up 43p at 1,547 on broker upgrades.
Among the miners we saw one main riser, with Rio up 34p to 5,658 due to the BHP offer. Rio touched 5,930 during the day after the BHP comments we mentioned this morning. Otherwise it was a red sector, with Vedanta down 108p at 1,936, Anto down 45p at 700p, Anglo down 157p at 3,327, Kazakhmys down 75p at 1,316 and Xstrata down 165p at 3,316. Nota good day for the comodities.
As we also mentioned this morning, ITV had a poor day after a broker downgrade. It finished down about 3p at 86.2, with concerns about future earnings.
Sage Group was down 8.5p at 216.5 on rumours of a rather large stock offload by a major bank. The 'offending' bank was rumoured to be Citibank.
Oil fell a little as the Saudis said they'd up the flow rate if required. Brent (Dec) was at US$ 91.3 bbl. Major oilers, BP and RD Shell were down 12p at 586.5 and 2p at 1,960 respectively.
Over the pond the DJI opened stronger, although trading was fairly light on Veterans' Day. By the time London closed the Dow was at about 13,135, up 92 points, with US banking stocks kicking off nicely, as London did. The US Bond markets are closed today, but there are some figures and announcements due later in the week over the pond that will give some market action, that's for sure. Retail sales and inflation figures amongst the reports due.
Over here we are to receive the CPI data in the morning, which will affect the market for sure. Vodafone are amongst heavyweights that are to be announcing their earnings, as are Cable and Wireless.
The banks faired well today, with Northern Rock up 9.4p at 154.4, Barclays up 38p at 513, RBS up a massive 37p (over 9%) at a touch shy of 440p, HBOS was 44p up on the day at 796.5, and HSBC was up 8.5p at 849, despite the rather large write-downs on the cards in the US. Standard Chartered was up 55p at 1,730 on broker upgrade and a target of 1,800. FTSE 250 bank Bradford & Bingley rose just over 19p to 282.25.
Standard Life finished nearly 16p higher at 259.5 after aborting its Resolution bid citing value for shareholders as a reason not to go higher with their £4.9 bln offer. Pearl Assurance's 720p offer is the only remaining offer for Resolution now. Friends Provident, which had also hoped to merge with Resolution, rose about 7p to 155.6.
Also on the rise were the land stocks, with British land up 11p at 943 and Land Securities up 43p at 1,547 on broker upgrades.
Among the miners we saw one main riser, with Rio up 34p to 5,658 due to the BHP offer. Rio touched 5,930 during the day after the BHP comments we mentioned this morning. Otherwise it was a red sector, with Vedanta down 108p at 1,936, Anto down 45p at 700p, Anglo down 157p at 3,327, Kazakhmys down 75p at 1,316 and Xstrata down 165p at 3,316. Nota good day for the comodities.
As we also mentioned this morning, ITV had a poor day after a broker downgrade. It finished down about 3p at 86.2, with concerns about future earnings.
Sage Group was down 8.5p at 216.5 on rumours of a rather large stock offload by a major bank. The 'offending' bank was rumoured to be Citibank.
Oil fell a little as the Saudis said they'd up the flow rate if required. Brent (Dec) was at US$ 91.3 bbl. Major oilers, BP and RD Shell were down 12p at 586.5 and 2p at 1,960 respectively.
Monday 12 Nov 2007
Good morning and what a start to the week...Remember its Inflation week in the Uk and US so look out for the PPI announcemnets.
Friday showed a lot of promise and there were a lot of excellent trading opportunites for us to take advantage of . Take a look at GBPJPY falling 1000 points from 8am on friday and is now trading below 228.00. Today alone has seen it fall over 200 points...
Again this morning we have seen GBP retrace off those highs we saw last week. The trend fell below the 200MA on the 60 min and the 15 min gave us an entry with a red conductor on the break of 2.0850. It is now trading below 2.0740...
This morning we have seen GBPCAD break out of its traingle. The Retracement indicators alerted us to the move very early this morning so when london opened there was a clear signal this was going to break above its resistance level at 1.9750.
My favourite USDCAD is showing life in it again after hitting lows of 0.9050. The Hourly chart shows the retracement above the 200MA which is very positive and the 15 min shows the entry with a green conductor at 07.45am this morning. We are now trading 100 points higher...
Good luck and have a great week.
Friday showed a lot of promise and there were a lot of excellent trading opportunites for us to take advantage of . Take a look at GBPJPY falling 1000 points from 8am on friday and is now trading below 228.00. Today alone has seen it fall over 200 points...
Again this morning we have seen GBP retrace off those highs we saw last week. The trend fell below the 200MA on the 60 min and the 15 min gave us an entry with a red conductor on the break of 2.0850. It is now trading below 2.0740...
This morning we have seen GBPCAD break out of its traingle. The Retracement indicators alerted us to the move very early this morning so when london opened there was a clear signal this was going to break above its resistance level at 1.9750.
My favourite USDCAD is showing life in it again after hitting lows of 0.9050. The Hourly chart shows the retracement above the 200MA which is very positive and the 15 min shows the entry with a green conductor at 07.45am this morning. We are now trading 100 points higher...
Good luck and have a great week.
Morning Market, Monday 12th November 2007, 9am
The FTSE was up a touch early doors, and by 9am was up 15 points at 6,319. This in contrast to the 77 point fall on Friday. The FTSE 250 was up 21 at 10,880.
On Friday the DJI had a nasty day, down a rather worrying 223 points at 13,042. This is 1,150 down from its recent high of 14,198. Analysts were expecting more turmoil over there this week.
In the far east today the Nikkei closed down 386 points at 15,197 and by lunchtime ealier today in Hong Kong the Hang Seng was down a massive 1,282 points at 27,500. That's 4.5% on the day. Quite why London has moved up early this morning is anyone's guess, but those who speak up say that the banking sector is very oversold lately. Can't think why (he says, sarcastically).
News in the mining arena has BHP talking up its hopeful US$ 350 bln merger with Rio Tinto saying it will generate nearly US$ 4 bln a year in enhanced earnings. BHP was up 28p at 1,656 and Rio up 160p at 5,785 in early trading.
In the banking sector we saw a jerk reaction to the analysts comments with rises almost across the board. Barclays was up 15p at 489, RBS up 5p at 408, HBOS up 15p at 468 and Northern Rock was leading with a 12p rise at 157. One faller was HSBC, who were down 6p at 833 on a broker downgrade.
ITV was down 1.5p this morning at 87.5 on a broker downgrade and note regarding earnings.
On Friday the DJI had a nasty day, down a rather worrying 223 points at 13,042. This is 1,150 down from its recent high of 14,198. Analysts were expecting more turmoil over there this week.
In the far east today the Nikkei closed down 386 points at 15,197 and by lunchtime ealier today in Hong Kong the Hang Seng was down a massive 1,282 points at 27,500. That's 4.5% on the day. Quite why London has moved up early this morning is anyone's guess, but those who speak up say that the banking sector is very oversold lately. Can't think why (he says, sarcastically).
News in the mining arena has BHP talking up its hopeful US$ 350 bln merger with Rio Tinto saying it will generate nearly US$ 4 bln a year in enhanced earnings. BHP was up 28p at 1,656 and Rio up 160p at 5,785 in early trading.
In the banking sector we saw a jerk reaction to the analysts comments with rises almost across the board. Barclays was up 15p at 489, RBS up 5p at 408, HBOS up 15p at 468 and Northern Rock was leading with a 12p rise at 157. One faller was HSBC, who were down 6p at 833 on a broker downgrade.
ITV was down 1.5p this morning at 87.5 on a broker downgrade and note regarding earnings.
Friday, 9 November 2007
Market Wrap, Friday 9th November 2007, 6pm
The FTSE finished the week on a negative, down on the day 77 points at 6,304.9. The FTSE 250 was down 173 points at 10,859.
Over the pond, the DJI was also in negative teritory and by the time London closed was down about 184 points at 13,082. Nasdaq was also down 59 points (2%) at 2,636 and the SandP 500 was down 21.5 poinst at 1,453. nadaq has fallen about 6% in 3 days now, with tech stocks taking a bit of a thumping. Cisco's mediocre and disappointing figures didn't help.
Back here in the UK there was a rumour that Barclays was going to write down some assets to the tune of £10 bln. nasty. Barclays denied it. They also denied that Chief executive, John Varley, is about to resign. None of the rumours, not the denials, helped the price as Barclays closed won about 12p at 474.25. Other banks followed suit, with HBOS down 16 points at just shy of 753 and Alliance and leicester down12p at 659.
Yellow Pages owner YELL was off 6.5p at 415.25 on rumours that a broker was trying to offload its position.
On a positive note, RIO was up a massive 328p (6%) at 5,624 on rumours of a Chinese bid that outbids the BHP bid. The 3-for-1 BHP shares for a RIO was rejected by RIO yesterday, so a Chinese consortium was moving into the frame. Those who are 'in the know' on these things reckon BHP will now up its bid to 3.5-for-1. BHP was down 28p at 1627.5.
BG Group stayed positive, up 16p at 1,005, on the news we mentioned this morning about its 25% stake in the Brazilian Tupi prospect, that looks like bearing some serious black liquid fruit. Broker target was 1,090.
Over the pond, the DJI was also in negative teritory and by the time London closed was down about 184 points at 13,082. Nasdaq was also down 59 points (2%) at 2,636 and the SandP 500 was down 21.5 poinst at 1,453. nadaq has fallen about 6% in 3 days now, with tech stocks taking a bit of a thumping. Cisco's mediocre and disappointing figures didn't help.
Back here in the UK there was a rumour that Barclays was going to write down some assets to the tune of £10 bln. nasty. Barclays denied it. They also denied that Chief executive, John Varley, is about to resign. None of the rumours, not the denials, helped the price as Barclays closed won about 12p at 474.25. Other banks followed suit, with HBOS down 16 points at just shy of 753 and Alliance and leicester down12p at 659.
Yellow Pages owner YELL was off 6.5p at 415.25 on rumours that a broker was trying to offload its position.
On a positive note, RIO was up a massive 328p (6%) at 5,624 on rumours of a Chinese bid that outbids the BHP bid. The 3-for-1 BHP shares for a RIO was rejected by RIO yesterday, so a Chinese consortium was moving into the frame. Those who are 'in the know' on these things reckon BHP will now up its bid to 3.5-for-1. BHP was down 28p at 1627.5.
BG Group stayed positive, up 16p at 1,005, on the news we mentioned this morning about its 25% stake in the Brazilian Tupi prospect, that looks like bearing some serious black liquid fruit. Broker target was 1,090.
USDJPY breaks triangle...
The USDJPY broke out of its triangle this morning and continued its down trend.
The support level was at 112.50 and a perfect continuation trade was there to be taken. Look at the red concuctor alerting us to the move at 05.30 this morning.
The support level was at 112.50 and a perfect continuation trade was there to be taken. Look at the red concuctor alerting us to the move at 05.30 this morning.
GBPJPY falls 150 points on London opening
The curreny broke out of its support line at 237.50 this morning and the opportunity rose to enter in a short trade. The red conductor alerted us at 05.30am this morning and as it fell below the 200MA at 08.00am the trade was on...
Morning Market, Friday 9th November 2007 9am
The FTSE opened firmer this morning after the US had a good evening overnight. At 9am the FTSE was up about 46 points at 6,427 and the FTSE 250 was up 88 points at 11,120.
Last night the DJI closed at 13,266, which was down nearly 34 points on the day. However, this was much better than its low, which was down 200 points at one stage. Initial concerns over Bernanke's comments were soon forgotten, it seems, as investors came back with a gusto in later on. Nasdaq didn't fair as well, down nearly 2% or 53 points at 2,696 after Cisco posted some disappointing numbers.
Over night in the far east the Nikkei closed down 188 points at 15,583 and the Hang Seng was up 23 points at 28,783.
Back here this morning we saw BG Group jump over 30p at 1,020 as good news came form early test results at its Brazilian prospect. We mentioned this one yesterday, which said that there could be 5 to 8 bln BBL of oil. Nice.
British Energy was up 18p at 530 after recent poor performance after a positive broker note.
Liberty International added 47p to 1537 on news that it is planning to demerge its Trillium outsourcing business into a separate company worth about STG£1 bln. The board will meet to approve it next week.
Both RIO and BHP were up after the BHP 3-for-1 share offer and takeover news yesterday. RIO was up another 220p at 5,517 and BHP were up 61p at 1,717.
Punch Taverns was up again another 10p at 939 on broker upgrade.
The banks didn't have much to do, with Lloyds TSB up 4p at 487, Barclays up just a penny at 486, and Alliance and Leicester deciding to lead the way up 27p at 698. Northern Rock was down again, though, after more sour faces and opinions on the bank's future. Yesterday's administration rumour not helping. The price was down 3.5p at 146.5 early doors.
Last night the DJI closed at 13,266, which was down nearly 34 points on the day. However, this was much better than its low, which was down 200 points at one stage. Initial concerns over Bernanke's comments were soon forgotten, it seems, as investors came back with a gusto in later on. Nasdaq didn't fair as well, down nearly 2% or 53 points at 2,696 after Cisco posted some disappointing numbers.
Over night in the far east the Nikkei closed down 188 points at 15,583 and the Hang Seng was up 23 points at 28,783.
Back here this morning we saw BG Group jump over 30p at 1,020 as good news came form early test results at its Brazilian prospect. We mentioned this one yesterday, which said that there could be 5 to 8 bln BBL of oil. Nice.
British Energy was up 18p at 530 after recent poor performance after a positive broker note.
Liberty International added 47p to 1537 on news that it is planning to demerge its Trillium outsourcing business into a separate company worth about STG£1 bln. The board will meet to approve it next week.
Both RIO and BHP were up after the BHP 3-for-1 share offer and takeover news yesterday. RIO was up another 220p at 5,517 and BHP were up 61p at 1,717.
Punch Taverns was up again another 10p at 939 on broker upgrade.
The banks didn't have much to do, with Lloyds TSB up 4p at 487, Barclays up just a penny at 486, and Alliance and Leicester deciding to lead the way up 27p at 698. Northern Rock was down again, though, after more sour faces and opinions on the bank's future. Yesterday's administration rumour not helping. The price was down 3.5p at 146.5 early doors.
Market Wrap, Thursday 8th November 2007, 7pm
The FTSE eneded up down a little on the day - just 3.2 points, at 6,382. The low for the session was 6,290, and the high was 6,432. The FTSE 250 was 102.5 points lower at 11.032, with just below average volume on the day.
By the time London closed New York was down 60 points at 13,238 on Bernake's rather negative speech, which warned the economy will suffer on higher inflation.
There was some relief here in the UK when the Bank of England said they'd leave interest rates as they were, at 5.75% base. Thanks.
Mining heavyweight RIO ignored everyone else's feel on the day and jumped like Zebedee after it announced it had rejected the BHP Billiton bid and told BHP to go and get a BLT. The Rio Tinto board said they had 'unanimously' rejected the proposal on reasons of not being in shareholders best interests. BHP repsponded by saying, basically, that it would keep trying. Rio was up 21%, even though the bid had basically rejected 3 BHP shares for each Rio share. Other miners joined the rise with Anglo up 474p at 3,645, Lonmin up 134 at 3,400 and Xstrata up 348p at 3,573.
BP Group was up very well on the day - 88p higher at 989 aftre a nice and decent statement regarding its 25% stake in a Brazilian oil firm, galp Energia, which has said its offshore reserves are at 5 bln to 8 bln BBL. Nice.
Banks were down. Barclays was off 27p at 486, RBS down 23p at 415p, and Northern Rock (yawn...) down 2p at 150p-odd after, as we reported this morning, a majot, well respected, believed, 'in the know' daily newspaper said the the UK Govenrment was going to stick the ailing mortgage bank into administration.
By the time London closed New York was down 60 points at 13,238 on Bernake's rather negative speech, which warned the economy will suffer on higher inflation.
There was some relief here in the UK when the Bank of England said they'd leave interest rates as they were, at 5.75% base. Thanks.
Mining heavyweight RIO ignored everyone else's feel on the day and jumped like Zebedee after it announced it had rejected the BHP Billiton bid and told BHP to go and get a BLT. The Rio Tinto board said they had 'unanimously' rejected the proposal on reasons of not being in shareholders best interests. BHP repsponded by saying, basically, that it would keep trying. Rio was up 21%, even though the bid had basically rejected 3 BHP shares for each Rio share. Other miners joined the rise with Anglo up 474p at 3,645, Lonmin up 134 at 3,400 and Xstrata up 348p at 3,573.
BP Group was up very well on the day - 88p higher at 989 aftre a nice and decent statement regarding its 25% stake in a Brazilian oil firm, galp Energia, which has said its offshore reserves are at 5 bln to 8 bln BBL. Nice.
Banks were down. Barclays was off 27p at 486, RBS down 23p at 415p, and Northern Rock (yawn...) down 2p at 150p-odd after, as we reported this morning, a majot, well respected, believed, 'in the know' daily newspaper said the the UK Govenrment was going to stick the ailing mortgage bank into administration.
Thursday, 8 November 2007
Rio Tinto rallies over 20%
Metal producers gained after BHP Billiton Ltd., the world's biggest mining company, said it plans to pursue a takeover of Rio Tinto Group after an earlier approach was rejected, in what may become the largest acquisition in history.
This has always been an old favourite to trade and watch how the Pre Alerts pick out the trades perfectly.
The daily shows the trend and the hourly gave us an entry level. Look how the moving average's have crossed positively from monday this week...
This has always been an old favourite to trade and watch how the Pre Alerts pick out the trades perfectly.
The daily shows the trend and the hourly gave us an entry level. Look how the moving average's have crossed positively from monday this week...
Morning Wrap, Thursday 8th November 2007, 9am
The FTSE fell on opening, hitting a low of 6,291, but started its 'fade the gap' bounce up and on going long at 8.25am on the green conductor at 6,310 we were pleased to be looking at 6,330 at 9am as a target, which we'll take. There was a weird close to the market yesterday when the closing auction had to be extended by an hour due to technical difficulties at the LSE.
Ove the pond, last night the DJI closed almost 361 points to 13,300, so a gap down this morning in London was expected. The SandP 500 closed down almost 45 points at 1,475 and the Nasdaq was down 76.4 points at 2,748.75.
Turning to UK equities, Northern Rock was down another 11% or 19p to 145p after reports in a respected daily newspaper that the UK Government may put the bank into administration. We wonder if the Bank of England's £24 bln (sorry - it's our money - nearly forgot) will get 10p in the pound on an deal.
British Airways shares wewre down 16.5p at 353p after another newspaper report that a €3.4 bln deal, together with a US private equity firm, for the Spainish carrier Iberia was getting close. BA said that it was finding difficulty in trying to beat the current weak market trends. The oil price was not helping.
Carphone Warehouse fell 6.5p early doors to 349p despite its reporting of a big JV with US firm Best Buy, and a 6 month £56m profit (up 33% on same period last year), which was just ahead of broker estimates.
Punch Taverns shares took a punch alright, down 17p at 887 despite fairly good numbers being reported. The pub operator said that its year end profit (PBIT) was at £282 mln, up from £250 mln last year, with a 10% boost in revenues to £1.7 bln. What more do people want? Seems like the good news was already in therem then.
Man Group also fell 10p to 549, despite reporting over 20% increase in profits. The figure was helped by decent fund perfromances in a difficult market.
Rentokil Initial was down 5.6p at 163.4 this morning even though it posted a 25% increase in 3rd quarter revenue.
Any good news, you ask? A little.
Rio was up a healthy 69p at 4,419 - still on this BHP bid rumour. That's been a lovely trade.
3i Group was up 11p at 1,027 after reporting a NAV value of £10.07 per share for 1st 6 months, up 20% for the same period last year. This was some 25p ahead of expectations.
Ove the pond, last night the DJI closed almost 361 points to 13,300, so a gap down this morning in London was expected. The SandP 500 closed down almost 45 points at 1,475 and the Nasdaq was down 76.4 points at 2,748.75.
Turning to UK equities, Northern Rock was down another 11% or 19p to 145p after reports in a respected daily newspaper that the UK Government may put the bank into administration. We wonder if the Bank of England's £24 bln (sorry - it's our money - nearly forgot) will get 10p in the pound on an deal.
British Airways shares wewre down 16.5p at 353p after another newspaper report that a €3.4 bln deal, together with a US private equity firm, for the Spainish carrier Iberia was getting close. BA said that it was finding difficulty in trying to beat the current weak market trends. The oil price was not helping.
Carphone Warehouse fell 6.5p early doors to 349p despite its reporting of a big JV with US firm Best Buy, and a 6 month £56m profit (up 33% on same period last year), which was just ahead of broker estimates.
Punch Taverns shares took a punch alright, down 17p at 887 despite fairly good numbers being reported. The pub operator said that its year end profit (PBIT) was at £282 mln, up from £250 mln last year, with a 10% boost in revenues to £1.7 bln. What more do people want? Seems like the good news was already in therem then.
Man Group also fell 10p to 549, despite reporting over 20% increase in profits. The figure was helped by decent fund perfromances in a difficult market.
Rentokil Initial was down 5.6p at 163.4 this morning even though it posted a 25% increase in 3rd quarter revenue.
Any good news, you ask? A little.
Rio was up a healthy 69p at 4,419 - still on this BHP bid rumour. That's been a lovely trade.
3i Group was up 11p at 1,027 after reporting a NAV value of £10.07 per share for 1st 6 months, up 20% for the same period last year. This was some 25p ahead of expectations.
Dow breaks 13,400 support level...
I mentioned yesterday about the Dow having a large support level at 13,400.
The 60 minute chart shows us the Dow breaking the support level, for a 100 point trade down to 13,300...
The 60 minute chart shows us the Dow breaking the support level, for a 100 point trade down to 13,300...
USDJPY Channel breakout...
The USDJPY has been in a channel since thursday last week between 114.00 and 115.00.
The easiest way to trade this is to put your buy and sell orders either side and leave it. You can see from the chart below that it broke through 114.00 and only found support at 112.00.
The easiest way to trade this is to put your buy and sell orders either side and leave it. You can see from the chart below that it broke through 114.00 and only found support at 112.00.
Wednesday, 7 November 2007
Market Wrap, Wednesday, 6th November 2007, 7pm
The FTSE finished that day at 6,385.1, down about 90 points on the day, depsite having a fairly promising start this morning. By 9.15am the fall back started, and remained in a 30 point band for the rest of the day, really. The FTSE finished at 11,582.2.
One of the miners did well, despite the rest of the turmoil, with Rio up 21p at 4,355 on rumours of a massive 55-quid a share bid from BHP, who finished the day down 39p at 1,756. Anto were down on the day, as were others in the sector.
Rolls Royce ended the day up 18p at 534.5 on news of the STG£800m contract that we mentioned this morning.
Royal Dutch Shell was up 32p at 2,052, mainly due to the price of the black stuff, which is a couple of bucks short of US$100 bbl. Sector peer BP ended the day even, just 0.5p up at 633.5. (Note- For those of you who trade oil, why not check out the 60min chart and use the Market Conductor. Have you done the course yet, by the way?!)
On the other side of the oily fence we had British Airways, who ended up 21.5p down at 367.5 - again due to the price of the black stuff.
Sainsburys is still out of favour after the Qatari deal failure, and broker downgrade contributed to a 17.5p fall to 427.5.
Clothing store chain Next also had a poor day, finishing down 132p at 1,920 as its 3rd quarter sales weren't anything to get dressed for, it seems.
QXL Ricardo, a FTSE250 'swing' stock, finished the day up 230p at 1,740 on news of a potential bid. We often see a swing in this stock.
One of the miners did well, despite the rest of the turmoil, with Rio up 21p at 4,355 on rumours of a massive 55-quid a share bid from BHP, who finished the day down 39p at 1,756. Anto were down on the day, as were others in the sector.
Rolls Royce ended the day up 18p at 534.5 on news of the STG£800m contract that we mentioned this morning.
Royal Dutch Shell was up 32p at 2,052, mainly due to the price of the black stuff, which is a couple of bucks short of US$100 bbl. Sector peer BP ended the day even, just 0.5p up at 633.5. (Note- For those of you who trade oil, why not check out the 60min chart and use the Market Conductor. Have you done the course yet, by the way?!)
On the other side of the oily fence we had British Airways, who ended up 21.5p down at 367.5 - again due to the price of the black stuff.
Sainsburys is still out of favour after the Qatari deal failure, and broker downgrade contributed to a 17.5p fall to 427.5.
Clothing store chain Next also had a poor day, finishing down 132p at 1,920 as its 3rd quarter sales weren't anything to get dressed for, it seems.
QXL Ricardo, a FTSE250 'swing' stock, finished the day up 230p at 1,740 on news of a potential bid. We often see a swing in this stock.
EURUSD - Moves 200 points
Monday bought us a perfect trade in Eur USD. The trend was up and support was found on the moving average, so when the green conductor alerted to a reversal there was no hesitation in the trade.
A good exit point can be when it falls through the 1st 'support' moving average!
Keep to these longer term charts for more consistent trading results...
A good exit point can be when it falls through the 1st 'support' moving average!
Keep to these longer term charts for more consistent trading results...
Dow Jones close to significant support level at 13,400
The Dow Jones is very close to a significant support level at 13,400 where it bounced off 3 weeks ago. The green conductor alerted us to a move back up last friday but with the trend and moving average's all heading steeply down the risk was too high for a long trade.
Trading is about patience and understanding trends. If you are unsure, stay out of the market and wait for a clear picture.
Keep searching for clear trends, as there are many out there!!!
Trading is about patience and understanding trends. If you are unsure, stay out of the market and wait for a clear picture.
Keep searching for clear trends, as there are many out there!!!
Dec Crude Retraces off $100
The oil price is key at the moment and remains in a very bullish market. Monday saw us re-enter the market with the green conductor on the break of $95.00. The red concutor gave us a down signal and was a good exit level at $98.00. The volatility will always increase at the massive $100 level so be careful... As mentioned last week all retraces will be met with big demand so watch this space over the next week or so...
All we do is search for perfect trending markets to make our lives easy. If a market is strongly heading one way it can only benefit us...
All we do is search for perfect trending markets to make our lives easy. If a market is strongly heading one way it can only benefit us...
GBP/USD breaks 2.1000
Take a look at the GBP currencies. There is so much opportunity out there and as long as you stick to the rules you put yourself in a great position to make money.
We have been long of GBP for a while now but look at the moving average crossover yesterday and the 16.00 green conductor is key here. The higher highs have shown us the change in trend and GBP powered from 2.0850 to over 2.1050 in 24 hours.
200 points!!!
We have been long of GBP for a while now but look at the moving average crossover yesterday and the 16.00 green conductor is key here. The higher highs have shown us the change in trend and GBP powered from 2.0850 to over 2.1050 in 24 hours.
200 points!!!
Morning Market, Wednesday 7th November 2007, 9.30am
By 9am the FTSE was up 16.5 points at 6,491.5. The FTSE 250 was up 28 points at 11,363.
Leading shares rose in early deals, aided by a higher close on Wall Street overnight, with the mining sector underpinning blue-chip gains on rising metals prices, as gold hit 27 year highs.
In the US last night, Wall Street was higher as investors went looking for bargains.
The DJI rose 117.5 to 13,661. Sandp 500 was up 18 at 1,520 and Nasdaq was up 30 points at 2,825.
In the Far East this morning the Nikkei 225 fell nearly 153 points to 16,096 and the hang Seng was up about 600 points during its morning session at 30,356.
Oil prices were back through the US$ 98 bbl as the dollar weakened on US energy reserves. New York's, light sweet crude (December delivery), was US$1.16 higher at 97.86 bbl, up from its closing record of 96.70 in US trades on Tuesday. Brent North Sea crude (December delivery) went above US$ 94 for the first time to a new high of 94.48.
This morning in London the miners were strong, helped by Gold rising to another 27-year high at US$923.40 troy ounce on Nymex. Our very own MDS spring seminar estimate of US$860 an ounce looking possible. Those who gasped when it was said take note.
Back to the miners, Rio was top with 174p rise to 4,508, Kazakhmys was up 30p to 1,439, Anglo up 63p. BHP was rumoured as looking to bid for Anglo, and shares were up 35p at 1,810. Vedanta Resources also had a good start, up 56p at 2,170 on news that its Indian unit will be busy with decent projects.
Oil stocks rose this morning, mainly due to the price of the black stuff, with nearly 100-bucks a BBL looking close. BP added 3p to 636.5, while Royal Dutch Shell did better, up 25 to 2,045. BG Group rose 11p to 907.5.
Rolls Royce was up 12p at 528.5 on news of a decent contract for its Trent engine from International Lease Finance Corp. The deal is worth US$800 mln
Negatives now - British Energy Group was down over 7%, or 39.5p to 515.5 after more bad news from the Heysham I power station. Broker target remained at 600p, though.
Next was down 25p to 2,027 despite announcing profits being on track.
Problems in the pub sector continue despite brewer Scottish & Newcastle saying this morning its 50%-owned Baltic Beverages Holdings AB (BBH) joint-venture saw nine-months to September beer volumes grow almost 25%. Scottish & Newcastle fell 3p to 759.5.
Leading shares rose in early deals, aided by a higher close on Wall Street overnight, with the mining sector underpinning blue-chip gains on rising metals prices, as gold hit 27 year highs.
In the US last night, Wall Street was higher as investors went looking for bargains.
The DJI rose 117.5 to 13,661. Sandp 500 was up 18 at 1,520 and Nasdaq was up 30 points at 2,825.
In the Far East this morning the Nikkei 225 fell nearly 153 points to 16,096 and the hang Seng was up about 600 points during its morning session at 30,356.
Oil prices were back through the US$ 98 bbl as the dollar weakened on US energy reserves. New York's, light sweet crude (December delivery), was US$1.16 higher at 97.86 bbl, up from its closing record of 96.70 in US trades on Tuesday. Brent North Sea crude (December delivery) went above US$ 94 for the first time to a new high of 94.48.
This morning in London the miners were strong, helped by Gold rising to another 27-year high at US$923.40 troy ounce on Nymex. Our very own MDS spring seminar estimate of US$860 an ounce looking possible. Those who gasped when it was said take note.
Back to the miners, Rio was top with 174p rise to 4,508, Kazakhmys was up 30p to 1,439, Anglo up 63p. BHP was rumoured as looking to bid for Anglo, and shares were up 35p at 1,810. Vedanta Resources also had a good start, up 56p at 2,170 on news that its Indian unit will be busy with decent projects.
Oil stocks rose this morning, mainly due to the price of the black stuff, with nearly 100-bucks a BBL looking close. BP added 3p to 636.5, while Royal Dutch Shell did better, up 25 to 2,045. BG Group rose 11p to 907.5.
Rolls Royce was up 12p at 528.5 on news of a decent contract for its Trent engine from International Lease Finance Corp. The deal is worth US$800 mln
Negatives now - British Energy Group was down over 7%, or 39.5p to 515.5 after more bad news from the Heysham I power station. Broker target remained at 600p, though.
Next was down 25p to 2,027 despite announcing profits being on track.
Problems in the pub sector continue despite brewer Scottish & Newcastle saying this morning its 50%-owned Baltic Beverages Holdings AB (BBH) joint-venture saw nine-months to September beer volumes grow almost 25%. Scottish & Newcastle fell 3p to 759.5.
Tuesday, 6 November 2007
Market Wrap, Tuesday, 6th November 2007, 8pm
The FTSE 100 ended up today, albeit nothing to celebrate. We finished the day at 6,475, which was up 13.5 points. The high of the day was 6,512, but we fell back from there. The FTSE 250 was up 20.5 points at 11,335.
Over the pond, the Dow didn't know what to do. By the time London closed it was up a smidge at 13,550 (up 6.5 points).
The miners had a good day here. Continuing on from this morning, Rio was up 137p at 4,334, Anglo was up exactly a quid at 3,152, and BHP finished up 75p at 1,775.
Oil stocks were also up, with Brent price for Dec delivery at US$91.65 bbl. Tullow oil was up at the top of the leader board with a 20.5p rise to finish at 668p. This was due to the news we mentioned this morning on the Cameroon oil field deal. They're looking for 60k bbl per day from that field within 2 years. Nice.
Marks and Sparks continued on from this morning with a 21p rise to finish at 653, after their reported increase in profits that we mentioned this morning.
Sainsburys was up 5p to 445, a slight turn back up from the nasty day it experienced yesterday, after the Qataris pulled out of the STG£10.6 bln deal.
On the negative side, the builders didn't fair as well, with Barratts down 9.5p at 594.5, Taylor Wimpey down 4.25p at 227.25, and Persimmons down 16p at 960.
Associated British Foods fell 21.5p top 890.5 on news that the european sugar situation will have a poor effect on profits this year. This despite earnings being reported as better than expectations for this year.
Tate and Lyle may have topped out as a broker downgrade to neutral saw them fall 5.25p to 433.25.
We saw our very own London Stock Exchange have a positive day after it confimred that the Qatari state backed Qatari Investment Authority now holds just short of the 15% figure at 14.93%.
In the pubs we saw Wetherspoons have a whinge, saying that no smoking in pubs had affected sales. They finished down 15.5p on the day at 486.5. The 680-pub operator said it was still uncertain how the non-smoking ban would effect sales longer term, but like-for-like on last year's same quarter it was down 1%.
Over the pond, the Dow didn't know what to do. By the time London closed it was up a smidge at 13,550 (up 6.5 points).
The miners had a good day here. Continuing on from this morning, Rio was up 137p at 4,334, Anglo was up exactly a quid at 3,152, and BHP finished up 75p at 1,775.
Oil stocks were also up, with Brent price for Dec delivery at US$91.65 bbl. Tullow oil was up at the top of the leader board with a 20.5p rise to finish at 668p. This was due to the news we mentioned this morning on the Cameroon oil field deal. They're looking for 60k bbl per day from that field within 2 years. Nice.
Marks and Sparks continued on from this morning with a 21p rise to finish at 653, after their reported increase in profits that we mentioned this morning.
Sainsburys was up 5p to 445, a slight turn back up from the nasty day it experienced yesterday, after the Qataris pulled out of the STG£10.6 bln deal.
On the negative side, the builders didn't fair as well, with Barratts down 9.5p at 594.5, Taylor Wimpey down 4.25p at 227.25, and Persimmons down 16p at 960.
Associated British Foods fell 21.5p top 890.5 on news that the european sugar situation will have a poor effect on profits this year. This despite earnings being reported as better than expectations for this year.
Tate and Lyle may have topped out as a broker downgrade to neutral saw them fall 5.25p to 433.25.
We saw our very own London Stock Exchange have a positive day after it confimred that the Qatari state backed Qatari Investment Authority now holds just short of the 15% figure at 14.93%.
In the pubs we saw Wetherspoons have a whinge, saying that no smoking in pubs had affected sales. They finished down 15.5p on the day at 486.5. The 680-pub operator said it was still uncertain how the non-smoking ban would effect sales longer term, but like-for-like on last year's same quarter it was down 1%.
RENOLD (RNO.L) - TURNS UP
Renold came up on a scan yesterday as volume came sneaking back in. This morning we see some news released and the price jump up a few pennies. Whilst we're wary of small caps, this one behaved well with the indicators before.
GBPJPY - Bounces off 200MA
GBP fell from its highs on Thursday and Friday last week with red conductors perfectly showing us the entry point on the 60 minute chart.
Yesterday saw the full retracement back down to the 200MA, with the green conductor alerting us at 3.00pm for a 200 point move back up...
Yesterday saw the full retracement back down to the 200MA, with the green conductor alerting us at 3.00pm for a 200 point move back up...
Morning Market, Tuesday 6th November 2007, 9.30am
After jumping about 60 points to 6,510 on opening the FTSE 100 was up 39 points at 6,500 by 9.30am. This depsite the DJI falling nearly 52 points on the day, closing at 13,543 last night. This was up, though, from a session low of about 13,450, some 100 points lower, earlier in the day.
A good morning for the miners so far, with BHP up 39p at 1,737, Rio up 99p at 4,291, Vedanta up 44p at 2,1440, Xstrata up 57p at 3,227, Lonmin up 38p at 3,254 and Kazakhmys up 19p at 1,395. Tullow Oil was up 16p at 663 on news that a Hungarian group had acquired 40% of a new offshore clock at Cameroon from Tullows.
The banks fought back, with Alliance and Leicester up nearly 3% (20p) at 719.5, Standard Chartered up 41p at 1,769, Lloyds TSB up 7.5p at 529, Barclays also up 7.5p at 528.5 and Northern Rock up 2.3p at at 173.1.
Sainbury's was also turning up after its bad news yesterday and subsequent knee-jerk reaction to the failed Qatari bid, as it was up 9p at 449 in early trading. Other supermarkets gave support with Morrisons up 2.5p at 286.
Marks and Spencer were up 12p at 643 after its 11% increase in pre-tax profit was better than expected. The retailer announced a £1bln share buyback program.
The builders weren't doing as well this morning, with Barratts down 9p at 595, Persimmons down 12p at 965, Hammerson down 3p at 1,034. Taylor Wimpey was even on the day so far at 232p.
A good morning for the miners so far, with BHP up 39p at 1,737, Rio up 99p at 4,291, Vedanta up 44p at 2,1440, Xstrata up 57p at 3,227, Lonmin up 38p at 3,254 and Kazakhmys up 19p at 1,395. Tullow Oil was up 16p at 663 on news that a Hungarian group had acquired 40% of a new offshore clock at Cameroon from Tullows.
The banks fought back, with Alliance and Leicester up nearly 3% (20p) at 719.5, Standard Chartered up 41p at 1,769, Lloyds TSB up 7.5p at 529, Barclays also up 7.5p at 528.5 and Northern Rock up 2.3p at at 173.1.
Sainbury's was also turning up after its bad news yesterday and subsequent knee-jerk reaction to the failed Qatari bid, as it was up 9p at 449 in early trading. Other supermarkets gave support with Morrisons up 2.5p at 286.
Marks and Spencer were up 12p at 643 after its 11% increase in pre-tax profit was better than expected. The retailer announced a £1bln share buyback program.
The builders weren't doing as well this morning, with Barratts down 9p at 595, Persimmons down 12p at 965, Hammerson down 3p at 1,034. Taylor Wimpey was even on the day so far at 232p.
Monday, 5 November 2007
Market Wrap, Monday 5th November, 6.30pm
London was down again today, and by the close of play was off some 69 points to finish at 6,461.4. The session high was just over 6,530, and the low was 6,420. The FTSE 250 finished down 128 points at 11,314.
In the US, the Dow opened down, but did have some recovery before London closed, although still down. There is still some serious concern on the US sub-pime credit arena, where there is opinion that anything done at the moment is papering over the cracks. There is a down feeling in the market in general still since Friday, when Citigroup's CEO, Charles 'Chuck' Price, stood down after the group's US$ 11 bln write downs related to the sub prime mortgage sector. Good bye Chuck. By the time London did close the DJI was off about 70 points at 13,523. The SandP 500 was down 8 points at 1,502 and Nasdaq down 15 points at 2,795.
Back here it was a nightmare day for Sainsbury's investors, who saw their share price finish the day down a massibe 115p at 440 after the Delta Two deal was called off. As we posted this morning, a few reasons were given for the failure of the $10.6 bln deal.
The Banks were all down too, again over this sub-prime concern. Barclays fell 16p at 521.5 as rumours are still being banted about that they will be chapping on the Bank of England's door next to Northern Rock. Fellow bank HSBC downgraded the target from 650 to 540p. Not good. If you think that was bad, HSBC marked the HBOS targte down from 1,250 to 840. HBOS finished down 15p at 810. HSBC said the whole credit thing woudl affect ongoing perfromace, basically. Alliance and Leicester finished down 29p at 701 as rumours were about that they too had joined the queue at the bank of England for emergency funding thought to be in the region of STG£5 bln. However, the bank did say that they wouldn't comment on whther they had gone to the BoE with cap in hand, but did confirm they'd got the funding they needed. Mind you, they also confirme dthey were buying back their own shares too, so maybe without that they may have fallen even further, one would assume.
British Airways finsihed the day down just over 13p at 405.5 after broker downgrade to 'sell'. There was weekend media reports of a bid for Spanish carrier Iberia in the next month or two. This would be done in conjunction with a US private equity group, apparently. It was also noted that BA's cargo was down 3% this month compared to last year, but passenger numbers were up 2.2%.
Miners were down today, with BHP down 55p at 1,700, Xstrata down 136p to 3,171, and Anto down 22p at 781.
One winner today was carphone warehouse, who received an upgrade on analysts reports of good growth prospects with its US expansion. They finished the day up 8.25p at 353.25, with a broker target of 425p.
In the US, the Dow opened down, but did have some recovery before London closed, although still down. There is still some serious concern on the US sub-pime credit arena, where there is opinion that anything done at the moment is papering over the cracks. There is a down feeling in the market in general still since Friday, when Citigroup's CEO, Charles 'Chuck' Price, stood down after the group's US$ 11 bln write downs related to the sub prime mortgage sector. Good bye Chuck. By the time London did close the DJI was off about 70 points at 13,523. The SandP 500 was down 8 points at 1,502 and Nasdaq down 15 points at 2,795.
Back here it was a nightmare day for Sainsbury's investors, who saw their share price finish the day down a massibe 115p at 440 after the Delta Two deal was called off. As we posted this morning, a few reasons were given for the failure of the $10.6 bln deal.
The Banks were all down too, again over this sub-prime concern. Barclays fell 16p at 521.5 as rumours are still being banted about that they will be chapping on the Bank of England's door next to Northern Rock. Fellow bank HSBC downgraded the target from 650 to 540p. Not good. If you think that was bad, HSBC marked the HBOS targte down from 1,250 to 840. HBOS finished down 15p at 810. HSBC said the whole credit thing woudl affect ongoing perfromace, basically. Alliance and Leicester finished down 29p at 701 as rumours were about that they too had joined the queue at the bank of England for emergency funding thought to be in the region of STG£5 bln. However, the bank did say that they wouldn't comment on whther they had gone to the BoE with cap in hand, but did confirm they'd got the funding they needed. Mind you, they also confirme dthey were buying back their own shares too, so maybe without that they may have fallen even further, one would assume.
British Airways finsihed the day down just over 13p at 405.5 after broker downgrade to 'sell'. There was weekend media reports of a bid for Spanish carrier Iberia in the next month or two. This would be done in conjunction with a US private equity group, apparently. It was also noted that BA's cargo was down 3% this month compared to last year, but passenger numbers were up 2.2%.
Miners were down today, with BHP down 55p at 1,700, Xstrata down 136p to 3,171, and Anto down 22p at 781.
One winner today was carphone warehouse, who received an upgrade on analysts reports of good growth prospects with its US expansion. They finished the day up 8.25p at 353.25, with a broker target of 425p.
Morning Market, Monday 5th November 2007, 9am
The FTSE was down again this morning, continuing with the concerns over the US sub-prime credit situation amongst other things. By 9am the FTSE was down 40 points at 6,490.
Sainsbury's was the biggest faller, down about 100 points - faster than gravity, on news that the Delta-Two Qatari £10.4 bln bid for the supermarket group has been abandoned due to reasons stated as: unable to raise all the finance; unable to reach a deal with the Pension Fund; current world credit concerns hindering the deal; and, errr, the Qatari Government wouldn't help them. They still own 25%, so we expect a return to the table in due course - once the market has taken a more firmer direction, but at a lower deal value level. By 9am the price was at about 455p, down a quid from a close on Friday of 555p. Morrisons and Tesco fell too, down 8p at 284 and 7.5p at 479.5 respectively.
The banks were mainly down this morning on reports that the STG£23 bln that Northern Rock has now borrowed from the Government is equal to about £800 per person in the UK loaning the troubled northern bank their own cash (I might ask for my £800 cash back...). Apparently the actual loan book of the bank isn't 'that' good, either, so trying to get a deal away is going to be difficult as there is so much cash to repay the BoE. What would be left for investors, we don't know, but it won't be alot, we feel. By 9am NRK.L was at 165.5p, down over 3% again. Other banks - RBS was down 14p at 462, Barclays down 15.5p at 522, HBOS down 2% or 16.5p at 808.5, Alliance and Leicester down 11p at 719, and LLoyds down 10p at 507p. Not a good morning in the financial sector, with the US sub-prime market really giving concerns.
The miners were also off, ANTO down 3% or 25p at 779, Xstrata down nearly a quid at 3,210, BHP down 46p at 1,708, Anglo down 65p at 3,050, and Vedanta down 48p at 2,137.
Bristish Airways also fell this morning on a broker downgrade, and by 9am was down 6.5p at 142.
The pharmas have done ok, with AstraZeneca appearing to be on a support line now and Glaxo up 16p at 1,229 so far this morning.
In the communications sector we saw Vodafone rise 1.2% or 2.2p to 186.25 and Carphone Warehouse was up 1.23% or 4.25p at 349.5 after a broker upgrade.
Sainsbury's was the biggest faller, down about 100 points - faster than gravity, on news that the Delta-Two Qatari £10.4 bln bid for the supermarket group has been abandoned due to reasons stated as: unable to raise all the finance; unable to reach a deal with the Pension Fund; current world credit concerns hindering the deal; and, errr, the Qatari Government wouldn't help them. They still own 25%, so we expect a return to the table in due course - once the market has taken a more firmer direction, but at a lower deal value level. By 9am the price was at about 455p, down a quid from a close on Friday of 555p. Morrisons and Tesco fell too, down 8p at 284 and 7.5p at 479.5 respectively.
The banks were mainly down this morning on reports that the STG£23 bln that Northern Rock has now borrowed from the Government is equal to about £800 per person in the UK loaning the troubled northern bank their own cash (I might ask for my £800 cash back...). Apparently the actual loan book of the bank isn't 'that' good, either, so trying to get a deal away is going to be difficult as there is so much cash to repay the BoE. What would be left for investors, we don't know, but it won't be alot, we feel. By 9am NRK.L was at 165.5p, down over 3% again. Other banks - RBS was down 14p at 462, Barclays down 15.5p at 522, HBOS down 2% or 16.5p at 808.5, Alliance and Leicester down 11p at 719, and LLoyds down 10p at 507p. Not a good morning in the financial sector, with the US sub-prime market really giving concerns.
The miners were also off, ANTO down 3% or 25p at 779, Xstrata down nearly a quid at 3,210, BHP down 46p at 1,708, Anglo down 65p at 3,050, and Vedanta down 48p at 2,137.
Bristish Airways also fell this morning on a broker downgrade, and by 9am was down 6.5p at 142.
The pharmas have done ok, with AstraZeneca appearing to be on a support line now and Glaxo up 16p at 1,229 so far this morning.
In the communications sector we saw Vodafone rise 1.2% or 2.2p to 186.25 and Carphone Warehouse was up 1.23% or 4.25p at 349.5 after a broker upgrade.
Friday, 2 November 2007
Market Wrap, Friday 2nd November 2007, 7pm
The FTSE closed down 55 points at 6,530, which was actually up some 46 points from the session low. The FTSE 250 was down 83 points at 11,442 today.
The US continued its slide despite the non-farm payroll figures saying that 166,000 jobs had been added to the workforce in October. By London's close for the weekend the DJI was at 13,530, down 37 points on the day so far, but this was up from an initial 100 point drop early doors.
Over here in UK, the banking sector was down on credit worries and building consumer debt, with sub-prime debt being a major concern. Barclays finished 34p down at 537.5 as broker reported that it was the most vulnerable of the UK sector. It was also banted around that Barclays had joined Northern rock at the Bank of England door with its hand out again. Others dismissed the chat as idle and pointed out that Barclays had been buying its own stock for treasury this week (trying to support its own share price wouldn't seem to count as painting over the cracks, it seems - or are we being cynical?). Other banks also suffered, with HBOS off 19p at 825, Lloyds off 13.5p at 517.5, Alliance and Leicester off 21p at 730, RBS down 23p at 475.5 and the much troubled Northern Rock down a smidge under a penny (0.7p) at 171.3.
As mentioned this morning, BskyB had pulled back from a recent swing up and was down 30p on the day at 660 as results failed to give much confidence to investors. The TV/Broadband/satellite/telephone company (I'll leave out all the Sky Loans, Sky credit cards, Sky shop etc. etc.) reported that it had spent £51m on setting up its broadband and Sky Talk service and that operating revenue was down over 20% as a result. Revenues were up though, from £1.074 bln to £1.185 bln for the same first quarter period last year.
British Airways was down about 12p at 418 citing ever rising fuels costs as a major cost becoming a humongous cost as £2 bln on fuel will be broken for the first time this year. The weak green back also affecting revenue.
Miners were also down, with Anto down 7p at 803, Rio down 41p at 4,365, Xstrata down 23p at 3,307 and Kaz down 13p at 1,406. The slowing US economy being a concern on commodity prices.
Bristish American Tobacco fell 34p to 1,793 on broker downgrades.
The US continued its slide despite the non-farm payroll figures saying that 166,000 jobs had been added to the workforce in October. By London's close for the weekend the DJI was at 13,530, down 37 points on the day so far, but this was up from an initial 100 point drop early doors.
Over here in UK, the banking sector was down on credit worries and building consumer debt, with sub-prime debt being a major concern. Barclays finished 34p down at 537.5 as broker reported that it was the most vulnerable of the UK sector. It was also banted around that Barclays had joined Northern rock at the Bank of England door with its hand out again. Others dismissed the chat as idle and pointed out that Barclays had been buying its own stock for treasury this week (trying to support its own share price wouldn't seem to count as painting over the cracks, it seems - or are we being cynical?). Other banks also suffered, with HBOS off 19p at 825, Lloyds off 13.5p at 517.5, Alliance and Leicester off 21p at 730, RBS down 23p at 475.5 and the much troubled Northern Rock down a smidge under a penny (0.7p) at 171.3.
As mentioned this morning, BskyB had pulled back from a recent swing up and was down 30p on the day at 660 as results failed to give much confidence to investors. The TV/Broadband/satellite/telephone company (I'll leave out all the Sky Loans, Sky credit cards, Sky shop etc. etc.) reported that it had spent £51m on setting up its broadband and Sky Talk service and that operating revenue was down over 20% as a result. Revenues were up though, from £1.074 bln to £1.185 bln for the same first quarter period last year.
British Airways was down about 12p at 418 citing ever rising fuels costs as a major cost becoming a humongous cost as £2 bln on fuel will be broken for the first time this year. The weak green back also affecting revenue.
Miners were also down, with Anto down 7p at 803, Rio down 41p at 4,365, Xstrata down 23p at 3,307 and Kaz down 13p at 1,406. The slowing US economy being a concern on commodity prices.
Bristish American Tobacco fell 34p to 1,793 on broker downgrades.
USDCAD keeps falling...
Well the CAD keeps strengthening against the USD and has fallen over 130 points this morning before the employment report...
Morning Market, Friday, 2nd November 2007, 10am
The FTSE was down this morning, suffereing pressure from the US, which closed down a massive 362 points last night at 13,567. Investors concerned about potential inflation.
By 10am this morning, the FTSE was down about 70 points at 6,516 from its close yesterday at6,586. The non-farm payroll figures over the pond laster today will obviously also cause a reaction. Apparnetly the market is expecting some 85k new jobs created in October, which will be about 25k less than September.
In Hong Kong, the Hang Seng fell 830-odd points during its monring session. In Japan the Nikkei 225 fell over 350 points on the day, closing at 16,517. That's down 2%.
Oil was just shy of US$94 bbl for light sweet, and Brent crude was at US$90.70, up nearly a buck.
After our decent swing trade earlier this week on BskyB, we saw a close of the trade whilst it baulked at 680 and chopped at 674, which continued down. This monring it was down over 20p at 669 after figures weren't as good as hoped.
British Airways was back 16p at 413 despite a 26% rise in profits, growth on passenger numbers, but the weak dollar and oil prices not helping. The carrier fuel bill will break US$ 2 bln for the first time this year. The airline did say that it was aiming for a 10% operating profit margin by the end of the finacial year.
The banks were down, with Barclays down over 20p at 550, Northern Rock down further at 166 (down 6p), RBS off 15p at 483, Lloyds TSB off 8 at 523 and Alliance and Leicester down 18p at 732.
The miners were dopwn as well, with Vedanta down 70p at 2,122, Anto down 20p at 790, Rio down 100p at 4,305, Kazakhmys down 45 at 1,374 and Xstrata down 60p at 3,270.
Beverage firm Diageo had a better start to the day, up 8p at 1,097 on a broker upgrade.
Unilever was up again as well, helped by the 3rd quarter's numbers yesterday, and was at 1,716, up 20p in the first hour of trading.
By 10am this morning, the FTSE was down about 70 points at 6,516 from its close yesterday at6,586. The non-farm payroll figures over the pond laster today will obviously also cause a reaction. Apparnetly the market is expecting some 85k new jobs created in October, which will be about 25k less than September.
In Hong Kong, the Hang Seng fell 830-odd points during its monring session. In Japan the Nikkei 225 fell over 350 points on the day, closing at 16,517. That's down 2%.
Oil was just shy of US$94 bbl for light sweet, and Brent crude was at US$90.70, up nearly a buck.
After our decent swing trade earlier this week on BskyB, we saw a close of the trade whilst it baulked at 680 and chopped at 674, which continued down. This monring it was down over 20p at 669 after figures weren't as good as hoped.
British Airways was back 16p at 413 despite a 26% rise in profits, growth on passenger numbers, but the weak dollar and oil prices not helping. The carrier fuel bill will break US$ 2 bln for the first time this year. The airline did say that it was aiming for a 10% operating profit margin by the end of the finacial year.
The banks were down, with Barclays down over 20p at 550, Northern Rock down further at 166 (down 6p), RBS off 15p at 483, Lloyds TSB off 8 at 523 and Alliance and Leicester down 18p at 732.
The miners were dopwn as well, with Vedanta down 70p at 2,122, Anto down 20p at 790, Rio down 100p at 4,305, Kazakhmys down 45 at 1,374 and Xstrata down 60p at 3,270.
Beverage firm Diageo had a better start to the day, up 8p at 1,097 on a broker upgrade.
Unilever was up again as well, helped by the 3rd quarter's numbers yesterday, and was at 1,716, up 20p in the first hour of trading.
AUDUSD retraces 250 Points...
The AUDUSD fell 250 points off its high. The candles pulled back from the Bollinger band and combining this with the Red conductor a perfect short was in place. Trading from conductor to conductor would have netted you just over 200 points...
GBPCHF Channel breakout...
The GBPCHF fell 200 points off its high at 2.4200. The elastic band theory working perfectly here and pulling back to its 200MA.
The Dow Jones falls 362 Points...
After the FED cut another 0.25Bps on wed the markets have reacted in a negative way and even though the strains in financial markets have eased somewhat, economic growth will probably slow as the housing slump intensifies. There is a very mixed view out there at the moment and today will bring huge volatility in the market with the Non Farm Emplyment change and Unemployment rate out this afternoon.
The Dow fell sharply yesterday from the start and found a little support at the 13,700 level before crashing throgh to the low at 13,567. There will be buyers sitting down at the 13,400 level which is Mondays old support level.
The Dow fell sharply yesterday from the start and found a little support at the 13,700 level before crashing throgh to the low at 13,567. There will be buyers sitting down at the 13,400 level which is Mondays old support level.
Market Wrap, Thursday, 1st November 2007, 7pm
The FTSE fell about 2% today, down a massive 135.5 points to 6,586. The session low was 6,550, so there was some recovery from that. The FTSE 250 fell almost 140 points, doen to 11,526.
By the time London closed, the DJI was also down significantly, with some 200 points wiped off yesterday's close. Inflation concerns and the current oil price all being worries, apparently.
Here in London, Northern Rock was down some more today - another 12.5p, to finish at 172p. that's nearly 7% down on the day. Lloyds TSB was also down 124.5p at 531 on concerns of pressure into Lloyds having to buy into the stricken Northern Rock bank. Barclays was down 32.5p to 571.5, Aliance and Leiocester down 38.5p to 752 and HBOS down 29p to 844 were all also casualties.
AstraZeneca was down 43p at 2,330 after copy-cat drugs were looking like being aloowed, whilst reported results were not very impressive.
The builders also had a poor day, with Taylor Wimpey down 9.5p at 238, Persimmons down 39p at 1,010 and Barratts down 27.5p at 625.
Vodafone continued its pull back on the Indian Government news - a quick US$2 bln tax claim - given the go-ahead by the Bombay High Court - becoming stronger and more of a realistic chance of happening. Let's face it, US$2 bln is a few quid in anyone's book. VOD was off 5.4p at 183.6. Check your VOD chart, check the indicators, check the MAs, and use a high intra-day setting. The Market Conductor is very good for swing trading, isn't it?!
Unilever was a positive for the day, though, up 71p at 1,696 with fairly decent 3rd quarter figures. Broker target of 1,850 was mentioned.
By the time London closed, the DJI was also down significantly, with some 200 points wiped off yesterday's close. Inflation concerns and the current oil price all being worries, apparently.
Here in London, Northern Rock was down some more today - another 12.5p, to finish at 172p. that's nearly 7% down on the day. Lloyds TSB was also down 124.5p at 531 on concerns of pressure into Lloyds having to buy into the stricken Northern Rock bank. Barclays was down 32.5p to 571.5, Aliance and Leiocester down 38.5p to 752 and HBOS down 29p to 844 were all also casualties.
AstraZeneca was down 43p at 2,330 after copy-cat drugs were looking like being aloowed, whilst reported results were not very impressive.
The builders also had a poor day, with Taylor Wimpey down 9.5p at 238, Persimmons down 39p at 1,010 and Barratts down 27.5p at 625.
Vodafone continued its pull back on the Indian Government news - a quick US$2 bln tax claim - given the go-ahead by the Bombay High Court - becoming stronger and more of a realistic chance of happening. Let's face it, US$2 bln is a few quid in anyone's book. VOD was off 5.4p at 183.6. Check your VOD chart, check the indicators, check the MAs, and use a high intra-day setting. The Market Conductor is very good for swing trading, isn't it?!
Unilever was a positive for the day, though, up 71p at 1,696 with fairly decent 3rd quarter figures. Broker target of 1,850 was mentioned.
Thursday, 1 November 2007
FTSE falls 100 points...
The FTSE has fallen 100 points in the last 3 hours from 6,700 to 6,600. The Red conductor alerted us to the trade and the CCI dipped below the support line...
GBPCHF crosses above 200MA
The GBPCHF crossed above its 200MA yesterday in the early hours. The Daily chart looks more positive after breaking out of its downtrend and the reversal is imminent... As the CCI crossed to positive territory, the Box channel broke out at 07.00am with a solid move from 2.4000 up to 2.4180... (If you want to learn more about the Box Theory and many more Theory's then book on our 2 Day course!!!)
Keep watching the 60 minute charts for these perfect setup's!!!
Keep watching the 60 minute charts for these perfect setup's!!!
USDCAD keeps falling...
How many times have i said to trade with the Trend!!! The USDCAD has been in free fall for a few months now and everytime i see the red conductor on my chart, i can't help but get excited. Yesterday the Red conductor appeared in the morning and by the end of day a profit of over 100 points was there for the taking...
Keep it simple and you will succeed!!!
Keep it simple and you will succeed!!!
Morning Market, Thursday 1st November 2007, 9.30am
By 9.30am the FTSE had fallen to 6,676, down some 45 points from last night's close. The FTSE 250 was up about 40 points, though, but we'll see how things pan out.
Last night had seen the Dow rise after the interest rate announcement by the Feds, where they cut a further 0.25%, so to boost the US economy. There was an excellent trade after the announcement, with over 100 points gained easily out of a 137 point reversal. The Feds told everyone that much of recent credit fears have lightened, so everybody listened. But not after there was a spike down, taking out people's stops, it seems. The Dow closed at 13,9430, the SandP 500 coosed at 1,549 (up over 18 points) and the Nasdaq closed up 42 at 2,859.
In the Far East we saw the Nikkei 225 close up over 132 points at 16,870 and the Hang Seng was up over 340 points at 31,695.
Oil has been a fantastic trade. Just check your chart. The Market Analyser picked it beautifully, off the 200-day MA with Retracement indicators yelling at us. Oil is over US$96 bbl (!), after the interest rate decision from the Feds gave it some strength, and despite some confessions of lower US reserves.
New York's light sweet crude (December) was trading a shade over US$96 bbl, about 1.5cents up, beating previous records, and at one stage touched US$96.24 bbl. Our very own Brent North Sea crude (December) was up a buck with an intraday peak US$ 91.62.
Back to stocks, AstraZeneca was a faller this morning with a 50p drop to 2,329 on some investor concerns on news of generic versions of drugs coming to the markets from peers. AZN will be announcing some numbers at lunchtime today.
The banks were also down this morning, despite what the Feds said about credit problems easing. Barclays fell 12p to 592, RBS fell 11p to 505, Northern Rock fell 3p to 181 and Lloyds TSB fell 8p to 537.
Housebuillders also suffered, with Persimmons down 16p at 1,033 and Taylor Wimpey down 7p at 242
Vodafone was off 2.5p at 186.5 on news that the Indian Government received Bombay High Court permssion to continue investigating VOD with a view to claim US$2 bln in taxes. The Government looking forward toi a healthy windfall, we'd speculate. can continue its investigation into Vodafone that could result in the company paying up to 2 bln usd in taxes.
Top of the leader board was Unilever, who were up 63 to 1,688 following 3rd quarter figures, which were in-line with analysts expactations. One broker has given an 1,850 target.
Kingfishers also did well, up 5p at 202 after they announced the CEO will step down in the new year. Gerry Murphy has been at the healm for 5 years.
BG Group was up 4p at 894 after it also showed decent earning for the 3rd qaurter, better than expected. Broker upgrade to a tenner a share was also reported.
BAT added 9p to 1,839, on announcing its 9-month profits were up nearly 20% at STG£2.3 bln.
Last night had seen the Dow rise after the interest rate announcement by the Feds, where they cut a further 0.25%, so to boost the US economy. There was an excellent trade after the announcement, with over 100 points gained easily out of a 137 point reversal. The Feds told everyone that much of recent credit fears have lightened, so everybody listened. But not after there was a spike down, taking out people's stops, it seems. The Dow closed at 13,9430, the SandP 500 coosed at 1,549 (up over 18 points) and the Nasdaq closed up 42 at 2,859.
In the Far East we saw the Nikkei 225 close up over 132 points at 16,870 and the Hang Seng was up over 340 points at 31,695.
Oil has been a fantastic trade. Just check your chart. The Market Analyser picked it beautifully, off the 200-day MA with Retracement indicators yelling at us. Oil is over US$96 bbl (!), after the interest rate decision from the Feds gave it some strength, and despite some confessions of lower US reserves.
New York's light sweet crude (December) was trading a shade over US$96 bbl, about 1.5cents up, beating previous records, and at one stage touched US$96.24 bbl. Our very own Brent North Sea crude (December) was up a buck with an intraday peak US$ 91.62.
Back to stocks, AstraZeneca was a faller this morning with a 50p drop to 2,329 on some investor concerns on news of generic versions of drugs coming to the markets from peers. AZN will be announcing some numbers at lunchtime today.
The banks were also down this morning, despite what the Feds said about credit problems easing. Barclays fell 12p to 592, RBS fell 11p to 505, Northern Rock fell 3p to 181 and Lloyds TSB fell 8p to 537.
Housebuillders also suffered, with Persimmons down 16p at 1,033 and Taylor Wimpey down 7p at 242
Vodafone was off 2.5p at 186.5 on news that the Indian Government received Bombay High Court permssion to continue investigating VOD with a view to claim US$2 bln in taxes. The Government looking forward toi a healthy windfall, we'd speculate. can continue its investigation into Vodafone that could result in the company paying up to 2 bln usd in taxes.
Top of the leader board was Unilever, who were up 63 to 1,688 following 3rd quarter figures, which were in-line with analysts expactations. One broker has given an 1,850 target.
Kingfishers also did well, up 5p at 202 after they announced the CEO will step down in the new year. Gerry Murphy has been at the healm for 5 years.
BG Group was up 4p at 894 after it also showed decent earning for the 3rd qaurter, better than expected. Broker upgrade to a tenner a share was also reported.
BAT added 9p to 1,839, on announcing its 9-month profits were up nearly 20% at STG£2.3 bln.
Dow Jones - 100 Point Trade
The US Fed announced a further 1/4% cut in interest rates yesterday where we saw a typical market manipulation...(Did we say that!!!) The DJI ran down, just enough to take out everyone's stops, then lunged back well over 100 points. Look at the chart below for the crossover of the bollinger bands... Events like non-farm figures and interest rate decisions do make trading exceedingly volatile but the possibilities are endless.
BskyB - Excellent Market Analyser Trade
Check out the before and after on BskyB. Snapshots show how the Market Anlayser picks it perfectly.
Here's the Before, snapshot on 26 Oct:
Here's the After, snapshot this morning, 01 Nov:
Here's the Before, snapshot on 26 Oct:
Here's the After, snapshot this morning, 01 Nov:
US Crude Dec07 - Retracement Alert
The US Crude for Decmeber bounced off it's support at $90.00 yesterday and rallied up to $95.00 in less than 24 hours. Take a look how the retracement indicator alerted us to this move from the end of day on tuesday... What a trade!!!
Oil traders are increasing bets that December futures will reach $125 a barrel because of possible disruptions to the Middle East supplies, affecting the rising demand.
Purchases of options to buy the $125 contracts have risen by 46%...The market will be very volatile around the $100 level so be careful. However any dips in the market will be short lived...
Oil traders are increasing bets that December futures will reach $125 a barrel because of possible disruptions to the Middle East supplies, affecting the rising demand.
Purchases of options to buy the $125 contracts have risen by 46%...The market will be very volatile around the $100 level so be careful. However any dips in the market will be short lived...
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