Guest Posted February 24, 2004 Report Share Posted February 24, 2004 Steady downward trend today however volume is very light. All Ords -0.2% and it seems like everyone's waiting for the market to go up before they jump in with both feet. To me it feels like we're heading sideways forever in the bigger pic. AMP attempted to build on yesterday's jump but da boyz smacked it down. Generally the screen is bearish with a fair wash of red but most stocks in an uptrend on the longer term charts so I'm cautious about screaming DOWN at this stage. Golds languishing although Lihir managing an 0.8% rise. Nothing happening in the oils. Nikkers looking exceptionally bearish on the action so far, -0.6%. Link to comment Share on other sites More sharing options...
Guest Posted February 24, 2004 Report Share Posted February 24, 2004 S&P Nazza Link to comment Share on other sites More sharing options...
Guest Posted February 24, 2004 Report Share Posted February 24, 2004 Short term the Dow looks like it's doing a head & shoulders formation. Bit more of the chop-chop sideways scene to come if that's the case: DOW 60 minute chart http://www.signalwatch.com/markets/markets-dow.asp Link to comment Share on other sites More sharing options...
Guest Posted February 24, 2004 Report Share Posted February 24, 2004 A sideways to down day with All Ords closing -10.1 (-0.3%) with volume lacking. The index now sitting on historical support so it will be interesting to see what happens at this juncture. Generally stocks just went with the flow. Golds not happy, down 1-2%. In the oils Santos -2.4% after announcing a lower profit forecast because of the gas plant fire. Woodside up slightly. General red throughout Asia with Nikkers leading the way, -1.8%. Singers flat, Sth Korea -1.4% and Taiwan -0.9%. Honkers showing a little green but well off the day's high, +0.3%. Link to comment Share on other sites More sharing options...
The brown one Posted February 24, 2004 Report Share Posted February 24, 2004 Evacuate the interior and circumvent the perimeter--we're dropping below the 360 on the AEX.Doesn't look like there is too much volume to it except in KPN--a real scam job in the last few weeks.I'll post a chart in the next posting but for the time being here's a 5-day AEX--gappy-up and gappy down. BTW why are we choosing to ignore the potent 3am'er from the world beyond? Link to comment Share on other sites More sharing options...
The brown one Posted February 24, 2004 Report Share Posted February 24, 2004 Scam du mois: KPN Likely cause:the CEO has millions of call options at around 6-6.2. Contract sellers no likey payie outie. Link to comment Share on other sites More sharing options...
The brown one Posted February 24, 2004 Report Share Posted February 24, 2004 Here's a good reason for the AEX to go down--the masses are still buying calls! This is the c/p ratio and when around 2 the pile experiences gravitational disfortitude-usually. Link to comment Share on other sites More sharing options...
Guest Posted February 24, 2004 Report Share Posted February 24, 2004 Scam du mois: KPN Likely cause:the CEO has millions of call options at around 6-6.2. Contract sellers no likey payie outie. Brown 'un, KPN confirmed they were in negotiations to buy MMO2 (formerly Cellnet) for some ludicrous sum. Result is they tanked and MMO2 got a bit of a lift. Link to comment Share on other sites More sharing options...
Guest Posted February 24, 2004 Report Share Posted February 24, 2004 Seems like the universe is unfolding as it should: Europe a sea of red, pog up, USD down, US futures below fair value, I like it..... Link to comment Share on other sites More sharing options...
The brown one Posted February 24, 2004 Report Share Posted February 24, 2004 Major: Thanks for that information.Maybe I should listen to business news sometime! It's just all too confusing for me--last week KPN gets a tax avoidance package from the state and rumours that Vodkafone may be interested in buying KPN as they got the bum's rush on the AT&T deal. Now KPN wants to buy MMO2!!! Its all a scam perpetrated by the mobsters who run the stock markets.Next week we'll likely hear that Vodkafone is interested--just as soon as all the calls have been cleared out and everyone is short.Normal forensics-move along please-nothing to see here! Aussie:Not a lot of downside volume to the move today--could just be a set-up although I suspect that the bears are now so scared to short and every dip is a buying op. that it maybe different this time.We can but hope. Link to comment Share on other sites More sharing options...
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