Guest Posted August 4, 2003 Report Share Posted August 4, 2003 Nice selloff on open but then the inevitable V bounce showed up and we're heading up. All Ords currently -0.4%, faltering a bit on the uptrend, see where it goes from here.. Nikkei swooned at open, now in sideways mode.... Link to comment Share on other sites More sharing options...
Guest Posted August 4, 2003 Report Share Posted August 4, 2003 Lots of attempts to push All Ords higher today but it didn't work out too well. After the drop on open we went into a sideways trading range on light volume closing -10.2 (-0.3%). Very little price movement on stocks on my screen. Golds mixed as well... Nikkei had a particularly off day and the rest of Asia not too hot either.... Link to comment Share on other sites More sharing options...
alceringa Posted August 4, 2003 Report Share Posted August 4, 2003 Yoo-hoo world markets Uncle Buck Spoo-Hoo's- Nasty- Globex Flash Quotes Link euroland Jo-burg Miners Here After Hours-USA Island AM Market Call By CNNMoney From Bloomberg 0345 Stool HQ Time Gauge of Investor Fear Reflects Complacency, Signals Stock Decline Ahead There is little fear of a swing in U.S. stock prices, according to an indicator that can signal market turnarounds. To some investors, the lack of concern suggests this year's rally has gone too far. European Stocks Decline, Paced by Shares of Drugmaker Altana and Siemens Asian Stocks Fall as Sony, Hyundai Motor, Chartered Semiconductor DeclinesBloomberg Link to comment Share on other sites More sharing options...
The brown one Posted August 4, 2003 Report Share Posted August 4, 2003 Moanin' from A'dam. Well they've definitely decided to keep us in suspendies (and a bra) today. Dropped it by 1% in the fist 30 mins.Hit the day support now pumped back to 0.3% loss.Haven't looked at the fucutures yet but I imagine someone got on the Batphone at 9.30 CET and said "buy". Trouble here is that there is such huge options open interest --puts 300 and calls 320-- that we could be stuck around here for some time,barring an "unforeseen event".This open interest doesnt stop in August either.It goes on into Sept. and Oct. And it's the banks that have done it to protect what's left of their equity fartpolios. They've been massive sellers because it's too expensive to hedge and what's left they have hedged at around the 300 level.So,presumably if it goes way below 300 the MM's lose a packet.Doesn't seem too likely as the same bonkers would end up footing the bill ! As I write,they have got the index back to nul points--prolly managed to drag in a few shorts on the dip.Still in an uptrend--suspendies not yet ready to be abandoned yet.I'm a lumberjack and I'm ok ! Link to comment Share on other sites More sharing options...
Guest Posted August 4, 2003 Report Share Posted August 4, 2003 Gotta say this is the toughest market I've been in since I started trading... just been through the charts, talk about a dog's breakfast. Got some breaking out and heading higher and others looking like they're gonna cark it any minute.... I dunno.. bi polar this market... Link to comment Share on other sites More sharing options...
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