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IDS World Markets Thurs 22nd October 09


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they think that this is the same game, old play. Will see:

 

No changes. The current weakness within the Equity markets is still within the uptrend, although somewhat lower prices should be expected over the coming days.

We still believe that the development of a short-term bottom around the previous highs is the next buying opportunity for a continuation of the uptrend towards new short-term highs within this rally.

The SPX is still suggesting upside potential left towards the overhead 1,125-1,150 resistance area. Therefore, we are leaving our SHORT-TERM rating unchanged at ‘Long’.

 

Source: from ING newsletter which is free for all account holders (which is also free). Doc, asked me once, were is the link. Well, I could give a link but you will not see it because it need you to log in. But the accouten is free, and newsletter is free. the problem is, that most people dont want to create account to read something, event if its free. Thats why I post some info here to save you time and bring something to this community (capitalstool)

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w?s=^AORD

A general meander. All Ords -0.6% with REITS taking over the downside lead, -1.6% followed by IT -1.4% and Consumer Discretionary -1%. A couple of sectors closed with meagre gains, Healthcare +0.5% and Utilities -0.1%.

Over in Asia, China flat, Honkers -1.1%, India -0.1% and Nikkers -1%.

On to UK/Europe:

Footsie

image;size=239x110

DAX

image;size=239x110

CAC 40

image;size=239x110

 

 

May I just say, all of your charts look extremelly sexy this morning. Tanks!

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EUR..Need to cap it right here...

 

 

I am short EURUSD here as a partial hedge against my gold long. Target 1.4847. Stop at high (but I may exit at breakeven if it starts looking strong).

 

SSI is not particularly favorable for Euro short but its a weekly signal here so not great resolution on it.

 

http://www.dailyfx.com/technical_analysis/sentiment/

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no F way. moody could lowerr USA credit rating

EDIT:

The U.S. may lose its Aaa rating if the budget deficit isn’t cut within the next 3-4 years, Reuters reported, citing an interview with Steven Hess, head U.S. anal cyst for Moody’s Investors Service. Hess said the country’s Aaa rating “is not guaranteed,” the news service reported, in a dispatch carried in the Indian Economic Times.

http://www.bloomberg.com/apps/news?pid=new...id=aNQ4HafoLwpk

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Madness mentioned GOOG last night. Its at key resistance and a fib level here.

 

But on another website, another couple of traders where also talking about the set up. That means a lot of trades are lining up to go short here. Thats gives me pause for concern. There will be a lot of stops above that level.

 

A breakout above there to wipe out the shorts and then a reversal would not surprise me.

post-4436-1256210368_thumb.png

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Holy Recessions! Watching yearnings this am. What a mess!

Check these numbers (and no, I'm not slectively pickinig the bad ones - just ones I'm familiar with).

 

DOW EPS +5% sales -22% (green shoot alert!)

Thomas & Betts EPS -45% sales -27%

Danaher EPS -7.9% sales -14%

Sun misTrust EPS -172% (+1.05 last year, -.76 now) sales -41%

Starwood EPS -69% sales -21%

Legg Mason EPS -69% sales -32%

Hersey (green squirt alert!) EPS +11% sales +1%

Terra Nitrogen EPS -81% sales -59% (ouch)

Potash EPS -77% sales -64% (fertilizer is really crap!)

EMC EPS -26% sales -5%

Black & Decker EPS -44% sales -23%

Old Dominion Freight EPS -56% sales -22%

 

I can't wait to see them spin this on CNBS today!

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