Guest Posted May 27, 2003 Report Share Posted May 27, 2003 Well it was a quiet one yesterday with US & UK closed for hols. I see Europe closed a tad down with exception of the DAX which was up slightly. We're in down mode so far today and the golds are green. Looking good. Link to comment Share on other sites More sharing options...
K Wave Rider Posted May 27, 2003 Report Share Posted May 27, 2003 Euro looks like it just finished blowing off. Coming down hard and fast. Short from 1.1870-99. Hee Hee. Link to comment Share on other sites More sharing options...
Everybear Posted May 27, 2003 Report Share Posted May 27, 2003 Morning, everyone! Another quiet morning in Europe, the only story is the recent euro strength (the media is out with articles like: "European bourses may fall today led by exporters on euro strength" and such garbage"). Vodafone is out with its Q1 results, the company way able to reduce it net loss compared to a year ago. To me, the results look OK, Vodafone is still one of the best telecom companies in Europe, so its results may give some boost to European telecom stocks. Now, on euro. I'd be very cautious with shorting euro atm and would use very tight stops, since there are several very strong supports beneath, notably the 1.1630 gap support and more recently the 1.1815 squeeze pivot support. As i outlined yesterday, market makers should be stuffed out with dollar longs and the fact that euro wasn't even able to re-test 1.1750 maximum pain point talks about tremendous power. I sure won't try to short the euro until it makes a 3-4 cents big key-reversal day, whatever levels it may reach... As for today's outlook: since all major European indices are on valid sell signal and are in fact under distribution, I expect another small pop at open (0.5% or so) then a quick retreat to unchanged and a small consolidation. Then we may see a new HOD during the mid-day prop which I will try to short. If we sink down right out of the gate, I'll step back, since the down-move may lose its momentum for the week. Link to comment Share on other sites More sharing options...
Guest Posted May 27, 2003 Report Share Posted May 27, 2003 Lines went down right at close (typical) and just got reconnected. All Ords basically spent the day in a downward trend closing -14.2 (-0.5%). There was a couple of times intraday where bullish patterns emerged and I thought we'd get a pop but it was just too weak. Not heaps of volume and no big moves on stocks on my screen. Most the golds flat except for Newcrest which moved up 1.6%. There's a fair bit of red throughout Asia and looks like Europe going the same way..... Link to comment Share on other sites More sharing options...
alceringa Posted May 27, 2003 Report Share Posted May 27, 2003 Yoo-hoo world markets Uncle Buck Spoo-Hoo's- Nasty- Globex Flash Quotes Link euroland Jo-burg Miners Here AM Market Call By CNNMoney Bloomberg Link to comment Share on other sites More sharing options...
Guest Posted May 27, 2003 Report Share Posted May 27, 2003 Whoa Europe off the cliff, so are US futures :grin: Link to comment Share on other sites More sharing options...
Everybear Posted May 27, 2003 Report Share Posted May 27, 2003 Just watching the action in euro, never underestimate the power of stuffed MM books, ehh... Link to comment Share on other sites More sharing options...
fxfox Posted May 27, 2003 Report Share Posted May 27, 2003 guten tag liebe stoolies! everybear, share your view on euro, it is obvious that the game is "buy all dips", until that doesnt change i wouldnt short in a large amount. If euro strengh goes on like that the german car producers will be kicked in the ass like never before, sure they are a bit hedge, but nobody was hedge for such a really i guess and recently i heard that volkswagen has again probelms with their currency departemnt, they are famous for that, in the 80s there was a big scandal, the guys there didnt do their job carefully, they just took the money and PLAYED like in Vegas! You are from hungary? Very well, cant wait till you join the EU, i was in 1983 at the "balaton" on vacation with my parents, very very nice place, lovely country that hungary! Link to comment Share on other sites More sharing options...
fxfox Posted May 27, 2003 Report Share Posted May 27, 2003 euro target for today is 1.1940, it explodes just in this moment. Link to comment Share on other sites More sharing options...
The brown one Posted May 27, 2003 Report Share Posted May 27, 2003 Rapid pulse southwards in Amsterdam to start the session. 2% down at the moment. Fortis(bank/insurer) reports large losses on investment fartpolio.What else is new?Topman talking about euro/dollar possibly going to 1.40. Some guy on Eurocrapvision saying that the ECB should reduce short-term rates by 1.5% in one go,so that the Germans would pay less for their 10 year fixed rate mortgages.And would give them more money to spend by improving the affordability of housing!! If it works the same as here,then you have to go to the bank to re-negotiate your 10year fixed mortgage.By the time you have paid the valuation fee, the penalty for early redemtion of the existing mortgage and 1% commission on the new one,you discover that the bank has earned more than you saved on the whole deal and you get another 5 years of extra payments! Wonder if the European markets will continue with their usual daily trading pattern ie blast north or south in the first hour and then hang around at these levels until the US opens. Sho'is boring.It's only a little less boring than yesterday with the US closed. Link to comment Share on other sites More sharing options...
longOnUranus Posted May 27, 2003 Report Share Posted May 27, 2003 Looks like my Harry Reems dollar lost its Viagra. The dollar, like an aging porno star, finds it harder to get it up when it want's to go down. I enjoy the international flavor of this site late at night. If I gotta be awake, at least I can get a quaff of the life across the pond. Viva la EuroStool!! Link to comment Share on other sites More sharing options...
Everybear Posted May 27, 2003 Report Share Posted May 27, 2003 You are from hungary? Very well, cant wait till you join the EU, i was in 1983 at the "balaton" on vacation with my parents, very very nice place, lovely country that hungary! Hey fxfox! It's nice to see that someone actually knows where Hungary is =) Ah, and Lake Balaton kicks some major ass, I spend many weakends there during the summer.. Just a little update: volume on major markets is incredibly tepid, a huge move is coming in the afternoon IMHO. Link to comment Share on other sites More sharing options...
fxfox Posted May 27, 2003 Report Share Posted May 27, 2003 DAX 1 hour chart: potential double bottom at 2774, candle of the last hour completly outside the bollinger band, 50 and 100 DMA serving as support? We will see. At least a little intraday reversal wouldnt surprise me. Link to comment Share on other sites More sharing options...
Guest Posted May 27, 2003 Report Share Posted May 27, 2003 Looks like a bounce setting in now....they wouldn't let the bears off that easy. Sheesh price of gold chart gone vertical! Currently $373.15. Link to comment Share on other sites More sharing options...
Guest Posted May 27, 2003 Report Share Posted May 27, 2003 Hey Doc, we need some flag icons or similar so we know which market individuals are following... Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.