Guest Posted July 1, 2003 Report Share Posted July 1, 2003 Great start to the day with a plunge off the cliff at open however we've now moved into a slow crawl upwards. Dippers have mobilized the remainder of their cash in the hope the last few days have been a minor pullback. They could be right but a lot of the weekly charts are now showing the uptrend faltering. In fact I've even had a sprinkling of put signals. Was gonna buy BHP put yesterday but broker out and it has fallen again today so I won't chase it. I did order an out of the money TLS Sept put this am and have a few more to follow up on my preliminary list tomorrow, depending on the action today. Golds looking good today with exception of Newmont which has done a burst lately. Looks like the profit takers into it atm. All Ords currently -5.6, no big deal, but there is a fair bit of red on the screen. Link to comment Share on other sites More sharing options...
Slothrop Posted July 1, 2003 Report Share Posted July 1, 2003 Aussie, folks over on Mark-to-Market are buying EWJ to take advantage of the apparent bottoming of the Nikk-me. As a trader who follows Asian trading in actual daylight, what are your thoughts? Link to comment Share on other sites More sharing options...
Guest Posted July 1, 2003 Report Share Posted July 1, 2003 Slothrop: it is a source of perpetual annoyance to me that my data vendor does not supply global indices data so I'm unable to do my own TA, therefore I feel unqualified to comment. It sounds as though the M2M stoolies have come to their own conclusions though :grin: Some of the other world traders who come here may care to comment on the Nikkei...? Aussie market: the day started well but that long uptrend continued and we actually closed in the green...bummer. All Ords closed +10.3 (+0.3%). This is not necessarily bullish, just a bit of consolidation setting in at the low of the last move down so its quite possible more downside to come ... The golds continued to do well with Newcrest and Lihir up around 3%. Newmont dropped 2%, just thinking a pullback at this stage. Asia generally up, but Europe in the red atm.... Link to comment Share on other sites More sharing options...
alceringa Posted July 1, 2003 Report Share Posted July 1, 2003 Yoo-hoo world markets Uncle Buck Spoo-Hoo's- Nasty- Globex Flash Quotes Link euroland Jo-burg Miners Here After Hours-USA AM Market Call By CNNMoney From Bloomberg4 AM Stool HQ Time U.S. Stocks in Europe: Boeing Gains, Vivus, Millennium Pharma Shares Fall Shares of Boeing Co., the world's biggest maker of commercial jetliners, gained in Europe after the Wall Street Journal reported the company may win an order for as many as 100 airplanes. Stock-index futures were little changed. European Stocks Decline, Paced by Shares of SAP, Merck and Retailer Metro Asian Stocks: NEC, Taiwan Semiconductor, Samsung Electronics Lead Advance Bloomberg Link to comment Share on other sites More sharing options...
The brown one Posted July 1, 2003 Report Share Posted July 1, 2003 Moanin' from A'dam. At the risk of sounding boring--it's as dull as dishwater here today.Not for long I suspect,as this thing feels like a coiled spring. As I've mentioned before,this market is very options driven and looking at the open interest for July there are seriously large put positions open at 290 and below.Despite a drop to 292 yesterday and to 290 this am,it looks like they're trying to defend this level for all it's worth.Meanwhile day stochastics indicator has dropped to a point from which it often rebounds(having been overbought for a couple of weeks until mid-June). RSI is hovering round 50 level.So,unless we get a sudden collapse,then a short-term put position doesn't look too promising.However,still keeping Bradley in mind and the fact that Oyster has been calling July 29th as a low for ages. Despite the incredibly boring action,the up-trend is still intact until proven otherwise. Trouble is,these markets are so manipulated by those that can,that it's difficult to figure out what's really happening before it's too late. Just seen a Professor of Supply Management talking on tv about whole companies shifting their production base to China-in order to survive-small and medium sized co's.This guy has written a book that costs $60 here-just published in Chinese and sells there for $3.50.I'll bet that a dollar of that goes to him as author as well! The west is doomed-sorry to say! Link to comment Share on other sites More sharing options...
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