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IDS World Markets Fri 12th December 03


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It's a sit thru the bounce day with All Ords +0.6%, exactly what we dropped yesterday. Nothing to see, move along, as they say on M2M. Volume's light with entirely predictable rises. The banks up around 0.8% and Newscorp +1.6%. The arvo may see some changes but I'm not holding my breath.

 

A couple of the golds recovering some of yesterday's losses: Lihir -0.7%, Newcrest +3.4% and Newmont +2%.

 

Nikkers +0.9% and Singers +0.6%. Nothing to see there either...

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The day just just drifted along, sideways to up, not exciting viewing in general. All Ords closed +22.6 (+0.7%). Brown One, we were saying bullish things re the oils yesterday and voila, they broke out today: Woodside +5%, Santos +3% and Oil Search +6.2% on big volume. Expecting a pullback/consolidation on those now before the uptrend continues. The rest of the stocks are just too boring to talk about.

 

Golds not much different from the am post: Lihir -1.3%, Newcrest +3.5% and Newmont +2.4%.

 

Nikkers in a sideways trading range, +0.6%. Singers still happeeee, +0.5% and Honkers likewise, +0.8%.

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Yoo-hoo world markets

 

Uncle Buck

intraday.gif?s...w=15&a=2&v.gif

 

 

Spoo-Hoo's-

globex.png

 

Nasty-

nasdaq.png

 

 

Globex Flash Quotes Link

 

 

euroland

 

Jo-burg Miners Here

 

After Hours-USA

 

Island

 

AM Market Call By CNNMoney

 

From Bloomberg 0210AM Stool HQ Time

Japanese Business Confidence Rises to 6 1/2-Year High; Spending May Gain

Japan's large manufacturers are the most optimistic in 6 1/2 years and plan to increase capital spending as accelerating global economic growth boosts demand for their cars, DVD players and mobile phones.

 

Asian Stocks Rise, Led by Canon, After Gains in Tankan, U.S. Retail Sales

 

Heartland Insiders, Friends Sold as Municipal Bond Funds Failed, SEC Says

Bloomberg

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Turn off your TV,ignore all news,ignore all intermarket relationships,ignore Euro strength- nothing can stop this market going up.

 

Down gap from a few days ago now filled with a gap up on the open=bottom island reversal.Straight back into the uptrending channel since March.H&S top formation from the last few weeks is now nullified.

As I said yesterday,gaming H&S top patterns to the upside would have been the most profitable thing to do since March.

 

Trouble with our little pile is that it has gone nowhere for 6 months and I assume that this will continue until the majority of the open options have been rendered worthless, both calls and puts,but especially puts which have effectively placed a floor under the market at 320.

 

Aussie:looked at OIX yesterday and it has gone up quite a bit in the past weeks(in USD).RD also put on a couple of euros in that time but now has a daily RSI in danger zone and is also sitting above the gap it made on heavy volume a few days ago.

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A little European/US snippet for your delectation!

 

Another load of investors/customers get shafted by bigbiz.

 

US public prosecutors have agreed to settle for $770 million with the French parties in the scandal involving the illegal takeover of the Californian insurance co.Executive Life by Credit Lyonnais.

 

The French minister of Economic Affairs reacted with relief,as the settlement would avoid more costly and damaging litigation in a jury trial.

 

The settlement would also render the thousands of civil claims from US customers of Executive Life virtually hopeless.

 

Who gets the $770 in these sort of settlements?

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