Guest Posted September 29, 2003 Report Share Posted September 29, 2003 Not a lot happening with the index trying to find direction. All Ords currently -3.6 and with end of quarter tomorrow it appears to be a distribution day. Volume not crash hot but the action might crank up later in the day. Golds taking a hit, down 2-3%. DOW had a consolidation at the low on Fri end of day which is normally bearish but Ed http://www.signalwatch.com/markets/markets-dow.asp has this to say: "The consolidation is "rectangular", so an upside break from the consolidation is also possible and could be just as powerful as a downside break. Also, an upside break from the consolidation will cause a break of the upper trend line that has formed across the highs of the current downmove, seen in the15 Minute Chart. Such a break could spark a strong reaction rally within the current downtrend." So the jury's out but the action here today suggests a weak bounce at best for Big Bro. Nikkei slumped in a nasty fashion from open and is down 1.4%. See what they come up with after the lunch break. Singers jumped at open but is now looking seedy and barely in the green. Sth Korea -0.9%. Link to comment Share on other sites More sharing options...
Guest Posted September 29, 2003 Report Share Posted September 29, 2003 Nothing spectacular to report but overall the scene is bearish imo. All Ords attempted to break through intraday resistance even turning green for about 15 mins, but couldn't hold it and did a final plunge into close finishing at -5.4 (-0.2%). Interesting that there were quite a lot of small parcels bought today presumably by Joe Bloggs getting in on the end of the run. Decent volume by eod but minimal price movement. Yep I like it... Golds sold off: Lihir -4.6%, Newcrest -3.4% and Newmont -2.9%. Seems like the gold rush is over in the short term. Nikkei was subjected to the usual post-lunch short squeeze which failed miserably, the index rolling over like a strand of overcooked spaghetti. Nikkei closed -0.7%, off the lows but making what looks like a lower high intraday. The rest of Asia a sea of red with Honkers leading at -0.9%. Ok Europe, up to you to keep up the good work! Link to comment Share on other sites More sharing options...
alceringa Posted September 29, 2003 Report Share Posted September 29, 2003 Yoo-hoo world markets Uncle Buck Spoo-Hoo's- Nasty- Globex Flash Quotes Link Stuck at 10:11 AM Local Yesterday, for some reason. Charts above seem "OK" euroland Jo-burg Miners Here After Hours-USA Island AM Market Call By CNNMoney From Bloomberg 0315 AM Stool HQ Time Asian Stocks Decline, Led by Honda Motor, Samsung Electronics, Li & Fung Asian stocks fell, led by exporters such as Honda Motor Co. and Samsung Electronics Co., on concern a drop in U.S. consumer confidence and losses for the dollar against most of the region's currencies will hurt their overseas earnings. Yen Strengthens a Second Day on Signs Japan's Economic Growth Is Improving European Stocks May Fall; L'Oreal, Swiss Reinsurance Shares Might DeclineBloomberg Link to comment Share on other sites More sharing options...
The brown one Posted September 29, 2003 Report Share Posted September 29, 2003 Moanin' from A'dam. All hands to the pump here and on the spoos today.In our case,in defense of the 200dma at 316. Biggest loser of the last week here is Van der Moolah(tanks Doc).Dutch company but most of the revenue comes from the NYSE where it is one of the specialists.Announcement of an SEC investigation and possibly changing the way the NYSE operates haven't done their stock price much good.Lost about 30% of their price in a week. Undoubtedly,some insider taking his chance now to buy in cheap,for when investigation reveals little or the fine is paltry allowing these guys to continue running the show as they please. Noticeable from last weeks action was that the down move was made on good volume and most openings were gappadowners.Is this the insiders getting out while the goin's good? See that old Uncle Buck is sporting a boner this am.Always good for a few points on the European indices! Saw in some local news that J6Pils is regaining confidence in stocks and committing some money to them again.Suckers! TA guy here says that looking at the log chart of the AEX long term,the downside target is 60--now 300+. Chart of K-Wave on M2M amazed me--exponential rise in margin debt. Dis gonna end badly; just like to know when! Not in an uptrend nomo'. Link to comment Share on other sites More sharing options...
Guest Posted September 29, 2003 Report Share Posted September 29, 2003 Chart of K-Wave on M2M amazed me--exponential rise in margin debt.Dis gonna end badly; just like to know when! Yeah that chart was really, really scary.... I had no idea things had got that far out of control... Link to comment Share on other sites More sharing options...
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