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Hiding Bear

B4 The Bell, Moonday May 3

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:D Welcome to another week of trading, humor, insights, and what not at B4 the Bell! :D Crash warnings are up! Will the market follow through on the down side before, during, or after Fed meeting? Don't have the answer to that yet, but I suspect B4 and Doc will be on top on any market cracking move.

 

Another fine weekend of posts, especially yobob's. Can the US continue to suck out the entire net savings of the world, even when they don't want to hand over their savings any more? No, I don't think so.

 

Out of Arabia, for the next 20 years?

 

After Attack, Company's Staff Plans to Leave Saudi Arabia

By NEIL MacFARQUHAR

Published: May 3, 2004

 

CAIRO, May 2 - The multinational engineering company whose offices in Yanbu, Saudi Arabia, were hit Saturday by a deadly attack announced Sunday that it would evacuate other people on the project.

 

The company, ABB Lummus, a Houston-based subsidiary of ABB, the Swedish-Swiss engineering and oil services giant, gave its employees the choice of either staying with beefed-up security or leaving the kingdom. All the employees chose to leave within days, said Bjorn Edlund, the spokesman for the company at its corporate headquarters in Zurich, noting that several hundred other foreign employees working on ABB projects elsewhere in Saudi Arabia would remain.

 

Crown Prince Abdullah, who effectively runs the country, said the government would pursue the terrorists even if it took 20 to 30 years to get them all.

 

http://www.nytimes.com/2004/05/03/internat...ast/03atta.html

 

From BARRON'S:

 

The Treasury is expected to announce a $56 billion debt package and new inflation-protected securities at its quarterly refunding meeting this week.

 

Dow Jones Newswires reports that bond dealers expect that the Treasury will sell $24 billion in three-year notes, $16 billion in five-year notes and $16 billion in 10-year notes. The Treasury will announce its borrowing needs Monday, followed by refunding announcements Wednesday.

 

For investors who think plain-vanilla Treasuries aren't tempting just yet, there's always California, which will be offering $7.9 billion of bonds on Tuesday.

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This is a fundamentally strong company from what I am led to believe. Minefinders. Is this a capitulation bottom? I don't own the stock and if you pull it up it has broken the uptrend line.

post-20-1083579226.gif

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Trader,

 

Looks like it has more to go. But, if you like it, buy some knowing it could go lower and than add.

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Trader,

 

Looks like it has more to go. But, if you like it, buy some knowing it could go lower and than add.

Incredible destruction. TE were you trading the pm stocks in the '70s? When gold went from 200 back to 100 did we see stocks basically double bottom off the lows. Looks like we may do this in some of the issues. Seem to remember a guy by the name of Adam Lass who a few months ago say he was looking for the pm stocks to give up all of the gains we saw in 2003. Thanks guy.

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Asia Times take .............

 

Stock Market Report

 

http://www.atimes.com/atimes/others/Stock_Market_Report.html

 

May 3, 2004

 

China concerns drop Asian markets

 

Asian share markets closed lower Friday as investors remained on the sidelines due to concerns over the direction of the Chinese economy and US interest rates.

 

Japan

Shares plunged 2.02 percent by the end of trade. The Tokyo Stock Exchange's benchmark Nikkei-225 index slid 242.50 points to 11,761.79.

 

Hong Kong

Share prices ended 0.52 percent lower as concern lingered over the future direction of the Chinese economy. The benchmark Hang Seng Index shed 62.62 points at 11,942.96.

 

South Korea

Share prices dropped 1.4 percent on continuing unease over China's decision to slow its economy. The composite index shed 12.57 points at 862.84.

 

Taiwan

Share prices dropped a massive 4.44 percent today after a weaker Wall Street and the prospect of a softer Chinese economy unsettled investors. The weighted index fell 284.40 points at 6,117.81.

 

Australia

Share prices were relatively steady as investors sought defensive stocks in light of events in China. The benchmark SP/ASX 200 shed 0.5 points at 3,400.8, while the All Ordinaries eased by 0.1 point to 3,407.7.

 

Elsewhere

Singapore share prices ended 1.65 percent firmer on robust bargain hunting after recent falls. The Straits Times Index was 29.90 points higher at 1,842.03.

 

Malaysian share prices dropped 1.35 percent in flat trade. The Kuala Lumpur Stock Exchange composite index was 11.51 points lower at 838.21.

 

Philippine share prices finished 1.70 percent down on profit taking as investors remained wary of the outcome of the May 10 presidential election. The Philippine Stock Exchange composite index lost 26.94 points to 1,555.01.

 

Jakarta share prices fell 2.31 percent on regional declines. The Jakarta Stock Exchange composite index lost 18.554 points at 783.413.

 

(Asia Pulse)

 

 

:D Good hunting and good luck today.

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Quick change of direction. Exit at 1.7730 for 15 pip loss. Filled long at 1.7732.

 

I wonder if this coincides with / is the start of a morning session pre-market jam.

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Whoa! Get A Load of This

 

Out Of 13 Leading Market Sectors, Not One Has Reached 13 Week Cycle Price Target Down

 

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Guest yobob1

Two key events this week. Greenspeak - mumble, mumble, mumble, no change. That is unless he plans on calling it quits in June and decides to twist the ever growing knife in Bush's side. Bush has no one to blame - he stuck the knife in himself.

 

Friday employment report. Fur is no doubt flying over this one. Bush - we have to show 500,000 jobs or my ass is grass. Fed - we can't do that or yields will soar and then everyone's ass is grass. Reality? WAG, me thinks there have been some jobs added to the market over the last few months. But they appear to be low paying service jobs of possibly a temporary nature or part time for the most part. I also think the, at least what I view as, temporary price increase on the input side as well as the rising cost of bennies will cap the hiring. ANY fall off in volumes will be met with lay-offs quickly. I think volumes will fall in many instances as people choose between gas, groceries, and trinkets.

 

Years and years ago manufacturers used to keep inventories of raw materials. Beginning in the late 80s most switched to "just in time" inventory sytems following the Japanese lead. To me that says price increases can be quickly reversed as there is no high cost inventory needing to be worked off. Yes we have incipient price inflation, but I don't think it will stick with the exception oil. Those higher costs will be met with consumers making choices as they lack the necessary wage inflation to keep pace. Some will scream stagflation. They will be wrong.

 

Things still appear nervously normal to most folks and they will continue that way until one day soon they aren't. I still hold we are in for a"light switch" change and the fickle finger of fate is poised on that switch.

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Morning Crew- The pig flies alone at the open-the open will be up-will it stay up?? No it won't-I'll be selling all rallies if I am stopped out! Lock n Load. ;)

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FORENSICS ALERT!!!

 

GM postpones release of earnings set for today due to a "computer glitch"

 

Translation:

 

AG called to check what the numbers would be, and insisted they hold it back for a day to enable the success of the planned monday jam job.

 

GM obviously missed their number.

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What is up with Warren Buffett?

 

Why is he apparently taking pains to spread the view that we're going to see a falling dollar, rising (apparently) consumer goods prices, and a dangerously large current account defict?

 

What's in it for him?

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Look at them slamming silver again

Another implosion

Attempting to pick up calls at 5.87

The short covering rally, when it happens, will be a sight to behold.

 

My guess is around 5.65.

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