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 Post subject: January 19th Tuesday 2010 Emini TF ($TF_F) points +7.00
PostPosted: Tue Jan 19, 2010 5:32 pm 
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Written By M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)

Trade journals are crucial in preventing us traders from becoming complacent or content with our trading plan or the markets because without having the ability to review archives of past trading days in a forever changing market...we won't know it's time to adapt when change occurs in the markets because broker statements alone doesn't help us keep that edge in comparison to a trade journal. In addition, although this journal contains advertisements involving my trade methods, it does contain useful trading tips a few times per week. Thus, if you're looking for trading tips that can improve your trading and understand that profitable trading involves more than just entry signals...consistently read this trade journal and the #FuturesTrades chat room logs where I post my trades in real-time from entry to exit (see link below) via my IRC user name wrbtrader that's the same as my user name on twitter.

Today's #FuturesTrades chat room logs is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=70&t=430.

Quote:
Today's results are 6 wins : 2 losses. Although today was a trend day...I took it easy after realizing I missed two early Long signals at/near the open along with being very impatient...most likely due to the lack of sleep the past two days with some home remodeling projects. The key change in supply/demand (WRB S/R Zone) was the price action between 0944am - 0946am est and it controlled the price action for the remainder of the trading day.


FYI - You can ask me questions here at the forum or you can tweet me on twitter about anything related to today's trading or related to your own trading.

Image@ http://twitter.com/wrbtrader

In addition, posted below are direct links about my trade methodology or trading approach that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body analysis).


http://www.thestrategylab.com/WRBAnalysisTutorials.htm

http://www.thestrategylab.com/TradeStrategies.htm

Also, if you're interested in having free access to one of my profitable trade strategies along with earning extra income with little effort...join my referral program @ http://www.thestrategylab.com/ReferralProgram.htm

My Trading Performance: +7.00 points in the ICE Russell 2000 Emini TF ($TF_F) Futures

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Wall Street Recharges The Rally
By Alexandra Twin, CNNMoney.com senior writer
January 19, 2010: 5:55 PM ET

NEW YORK (CNNMoney.com) -- Stocks rallied Tuesday, with IBM leading a tech charge ahead of its quarterly results, released after the close of trade. A variety of health care and consumer product companies also added to the run, as investors sought to restart the run.

Citigroup's quarterly loss, a stronger dollar and Kraft's buyout of Cadbury were also in the mix.

The Dow Jones industrial average (INDU) gained 115 points, or 1.1%. The S&P 500 index (SPX) added 14 points, or 1.3%. The Nasdaq composite (COMP) rose 32 points, or 1.4%. The Dow and the S&P 500 ended at fresh 15-month highs and the Nasdaq ended at a new 16-month high.

After the close, IBM (IBM, Fortune 500) reported higher quarterly sales and earnings that topped estimates. But investors took a 'sell the news' approach and sent shares 1% lower in extended-hours trading.

IBM said it earned $3.59 per share versus $3.28 a year ago. Analysts surveyed by Thomson Reuters thought IBM would earn $3.47 per share. Sales rose modestly to $27.23 billion from $27 billion a year ago. Analysts thought sales would dip to $26.96 billion.

Looking forward, IBM said it expects earnings per share of at least $11 for 2010.

Stocks opened weaker following Citigroup's results, but soon turned higher as investors found reason to jump back into the market after Monday's holiday.

Gains were broad based, with 26 of 30 Dow components rising, led by Caterpillar (CAT, Fortune 500), IBM (IBM, Fortune 500), Johnson & Johnson (JNJ, Fortune 500), McDonald's (MCD, Fortune 500), 3M (MMM, Fortune 500), Merck (MRK, Fortune 500), 3M (MMM, Fortune 500) and Procter & Gamble (PG, Fortune 500).

Health care stocks jumped on bets that a Republican election to the Massachusetts U.S. Senate seat previously held by the late Ted Kennedy could stall or kill health care reform by ending the Democrats' filibuster-proof status. Polls were due to close at 8 p.m. ET.

All financial markets were closed Monday for the Martin Luther King holiday. Markets on Friday ended lower despite better-than-expected profit reports from JPMorgan Chase and Intel.

After a robust 2009, stocks were expected to drift at the beginning of the new year. But the momentum has remained positive and year-to-date, the S&P 500 is up 3%.

"The first half of 2010 is probably going to be an extension of the latter part of 2009," said Tommy Williams, president at Williams Financial Advisors. "Earnings are going to show strength versus a year ago, retail sales are picking up and unemployment will start to show some improvement."

However, he said that the second half of the year is likely to be trickier. "In the second half, there appear to be headwinds that could slow things down," Williams said. "But in the short term, I am optimistic."
0:00 /2:33Mass. race could affect health care bill

Quarterly results: Financial firm Citigroup (C, Fortune 500) reported a $7.6 billion quarterly loss, partly due to the bank paying back the government $20 billion in bailout funds. On a per-share basis, Citigroup lost 33 cents, in line with forecasts, after reporting a loss of $2.44 a share in the prior year's quarter.

On the upside, the company said consumer credit losses dropped in the quarter, and that it also set aside less money for bad loans during the quarter.

Some 57 of the companies in the S&P 500 are due to report results this week, with the focus on banks. Wells Fargo (WFC, Fortune 500), Bank of America (BAC, Fortune 500), Morgan Stanley (MS, Fortune 500), American Express (AXP, Fortune 500) and a number of regional banks are all due.

S&P 500 earnings are expected to have risen 186% versus a year ago and revenue is expected to have risen 7% according to the latest forecast from earnings tracker Thomson Reuters.

But the jump is largely attributable to a spike in financial sector results versus an abysmal fourth quarter of 2008 amid the height of the financial crisis. Without the financial sector, earnings growth slips to 8% and revenue growth falls to 1%.
IBM beats the Street, gives rosy forecast

Kraft buys Cadbury: The British candy company agreed to a larger $19.5 billion takeover offer from U.S. food maker Kraft Foods (KFT, Fortune 500) in a deal that puts an end to a four-month fight. The board on Tuesday recommended shareholders take Kraft's cash-and-stock offer in a move that will create the world's biggest chocolate maker.

Shares of Kraft, a Dow component, fell 0.6%, cutting earlier losses. American-traded shares of Cadbury (CBY) rose 6%.

World markets: Asian markets ended mixed, with Japan's Nikkei lower and Hong Kong's Hang Seng higher. European markets ended higher, reversing earlier losses.

Commodities and the dollar: The dollar gained versus the euro and the yen.

COMEX gold for February delivery rose $9.50 to settle at $1,140 an ounce. Gold closed at an all-time high of $1,218.30 an ounce last month.

U.S. light crude oil for February delivery rose $1.02 to settle at $79.02 a barrel on the New York Mercantile Exchange.

Bonds: Treasury prices fell, raising the yield on the 10-year note to 3.69% from 3.67% late Friday. Treasury markets were closed Monday. Treasury prices and yields move in opposite directions.

Market breadth was positive. On the New York Stock Exchange, winners beat losers by over three to one on volume of 1.036 billion shares. On the Nasdaq, advancers topped decliners by over two to one on volume of 2.08 billion shares. To top of page

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Yahoo! Finance

4:30 pm : There weren't many truly positive catalysts this session, but participants showed support for stocks as they stepped in to buy the many names that were sent lower in the previous session. Their efforts drove stocks to a fresh 52-week closing high.

Stocks started the session in mixed fashion, but a steady stream of buyers helped stocks fully recover from their 1.1% loss this past Friday. Though technical resistance at 52-week intraday highs contained the move, the advance remained broad based and strong into the close.

The buying effort showed that participants remain willing to keep the stock market's pullbacks short and shallow as they try to take a position for future gains. Earnings represent a primary caveat to future gains, though.

Citigroup (C 3.54, +0.12) was the latest financial giant to post its latest quarterly results. The company booked a loss of $0.33 per share, but that was in-line with Wall Street's expectations. Shares of C were initially pressured by the report, but they were able to snap back and book a gain. The broader financial sector settled with a 1.1% gain.

Health care fared the best this session. It advanced 2.0% amid speculation that a Republican election to the vacant Massachusetts Senate seat could stall or stymie health care reform.

Tech was another strong source of support for the stock market. The sector climbed 1.6% as IBM (IBM 134.14, +2.36) hit a fresh 52-week high ahead of its quarterly announcement. IBM was one of more than 50 companies in the S&P 500 to book a fresh 52-week high and one of seven Dow components to hit a new yearly high.

Kraft (KFT 29.41, -0.17) was one of just a handful of Dow components to finish lower. It was weighed down by news that Cadbury (CBY 54.83, +2.93) has consented to a takeover by the food giant. Kraft will have to pay $19.44 billion in cash and stock for the confectioner, though.

Though smaller, an acquisition was announced by Tyco International (TYC 38.19, +0.65), which will pay $2.0 billion for Brink's Home Security Holdings (CFL 41.54, +10.12). Tyco went on to forecast fiscal first quarter adjusted earnings from $0.63 to $0.65 per share, which exceeds the current consensus of $0.50 per share and the range of $0.48 to $0.50 per share that the company had previously forecast. The company maintained its in-line guidance for fiscal 2010, though.

Roughly 90% of the stocks in the S&P 500 booked gains this session. Though that helped the broader market put together one of its better sessions since the start of the year, more impressive is that the advance came in the face of a firmer dollar -- the greenback actually gained a healthy 0.5% against a basket of foreign currencies.

Advancing Sectors: Health Care (+2.0%), Tech (+1.6%), Materials (+1.6%), Telecom (+1.5%), Utilities (+1.2%), Consumer Discretionary (+1.2%), Financial (+1.1%), Industrials (+0.9%), Energy (+0.9%), Consumer Staples (+0.6%)
Declining Sectors: (None)DJ30 +115.78 NASDAQ +32.41 NQ100 +1.7% R2K +1.8% SP400 +1.3% SP500 +14.20 NASDAQ Adv/Vol/Dec 1893/2.06 bln/825 NYSE Adv/Vol/Dec 2389/1.04 bln/686

3:30 pm : The stock market has managed to push to a fresh session high, such that it now trades fractionally below its 52-week high. The positive tone among stock market participants has been apparent since the start of trade.

Commodities also saw some positive support, though it wasn't quite as consistent. Still, support for commodities resulted in a near 0.7% gain for the CRB Commodity Index.

Crude oil prices were pushed to $79.02 per barrel, which made for a 1.3% gain, but that was only after prices had fallen 1.6% to $76.76 per barrel, their lowest level of the new year.

Natural gas garnered enough support to erase early losses, but the move proved unsustainable, such that natural gas prices closed pit trade down 2.7% at $5.55 per contract.

Precious metals fared well. Gold prices were pushed 0.9% higher to $1140.50 per ounce, while silver settled with a 2.0% gain at $18.80 per ounce. DJ30 +119.79 NASDAQ +31.66 SP500 +13.89 NASDAQ Adv/Vol/Dec 1839/1.67 bln/888 NYSE Adv/Vol/Dec 2301/744 mln/747

3:00 pm : The stock market has spent the last two hours trading sideways in a narrow range, unable to push to a fresh 52-week high. With stocks holding steady to their gains as the final hour approaches, many participants want to know whether the gains peter out, push to new closing highs, or extend their drift into the close. The manner in which stocks settle often carries implications for overseas markets and how stocks start the subsequent session.

Outside of any late profit taking, one thing seems clear: participants continue to buy the stock market's pullbacks with the aim of keeping the stock market's upward trend intact. As a result of this support, the S&P 500 has only logged two losses since the start of the year. That has helped the benchmark index advance almost 3% in the new year. DJ30 +101.50 NASDAQ +29.11 SP500 +11.95 NASDAQ Adv/Vol/Dec 1836/1.50 bln/863 NYSE Adv/Vol/Dec 2232/676 mln/805

2:30 pm : This session's buying effort has resulted in new 52-week highs for 10% of the companies in the S&P 500. U.S. Steel (X 65.11, +3.07) has been among them, thanks partly to an upgrade from analysts at Deutsche Bank. AK Steel (AKS 23.62, -0.04) hasn't been so lucky, though; the stock was downgraded by analysts at Deutsche Bank. Still, steel stocks, as a group, are up 2.5% this session and up 8.5% since the start of the year. DJ30 +109.74 NASDAQ +30.37 SP500 +12.35 NASDAQ Adv/Vol/Dec 1832/1.38 bln/831 NYSE Adv/Vol/Dec 2242/625 mln/794

2:00 pm : All three of the major indices have run into resistance near their 52-week highs, which were set last week. However, stocks haven't pulled back from that resistance; instead, they continue to trade in a narrow range near those highs.

Though also unable to extend its advance, the Nasdaq 100 has a healthy lead over the other major indices. It is currently up 1.5% amid leadership from Apple (AAPL 214.26, +8.33). Both shares of AAPL and the Nasdaq 100 are on pace for their best single-session percentage advance in one month. DJ30 +104.60 NASDAQ +27.92 SP500 +11.82 NASDAQ Adv/Vol/Dec 1776/1.27 bln/872 NYSE Adv/Vol/Dec 2182/582 mln/842

1:30 pm : Stocks have now reclaimed what they lost in this past Friday's trade, but they have also stopped their ascent to take a bit of a breather. The pause comes just shy of the 52-week highs that were set this past Thursday.

Despite the strong move by stocks, Treasuries have managed to limit their losses. As such, the benchmark 10-year Note is down just six ticks. Still, that has been enough to keep its yield below 3.70%. Meanwhile, the 30-year Bond is down just one tick so that it yields just above 4.58%. DJ30 +101.22 NASDAQ +27.40 SP500 +11.48 NASDAQ Adv/Vol/Dec 1744/1.16 bln/887 NYSE Adv/Vol/Dec 2180/538 mln/838

1:00 pm : Participants have returned from a long, holiday weekend to bid stocks higher in broad-based fashion. The move has nearly erased the stock market's loss from this past Friday.

Stocks opened the session in mixed fashion amid the latest quarterly results from Citigroup (C 3.54, +0.12). Citigroup's loss was in-line with expectations, but the overall report was rather underwhelming and caused a setback for financials in the early going. However, financials have since rebounded to a 1.0% gain as participants offer a broad-based bid. Even Citi's shares, which were down more than 3% in premarket trade, have bounced to a gain of more than 3%.

Health care has been the best performer this session. It is currently up 2.1% amid speculation that a Republican election to the vacant Massachusetts Senate seat could stall or stymie health care reform. Managed care providers have responded with a 4.1% gain.

A 1.4% gain for tech stocks has made the sector a strong source of support, given its overall market weight. Interest in large-cap tech helped IBM (IBM 133.22, +1.44) hit a fresh 52-week high this session -- the move comes ahead of the Dow component's latest quarterly numbers, which are due after the close.

Fellow Dow component Kraft (KFT 29.06, -0.52) announced that it has acquired Cadbury (CBY 54.83, +2.93) for a mix of cash and stock worth $19.4 billion. The announcement came months after Kraft first made a hostile bid for the confectioner.

In other deal news, Tyco International (TYC 38.01, +0.47) announced plans to acquire Brink's Home Security Holdings (CFL 41.36, +9.93) for roughly $2.0 billion. The conglomerate went on to issue upside guidance.

This session's strong, broad-based advance has come in the face of a stronger dollar, which is currently up 0.5% against competing currencies. A stronger dollar has often undermined the stock market in recent months, but participants this session have disregarded the greenback's gain as they scoop up the stocks that were spurned late last week. DJ30 +100.44 NASDAQ +27.66 SP500 +11.72 NASDAQ Adv/Vol/Dec 1750/1.05 mln/872 NYSE Adv/Vol/Dec 2172/498 mln/834

12:30 pm : After drifting sideways for the past hour, stocks have managed to move another leg higher. The step up puts stocks at their best levels of the session. Stocks haven't quite erased the 1.1% loss that they booked this past Friday, though.

Nonetheless, the stock market's advance this session comes in the face of a stronger dollar, which is still up 0.6% against a basket of foreign currencies. Gains by the dollar have often troubled stocks in recent months. The inverse relationship has stemmed from concerns that a firmer dollar will diminish repatriated profits from multinationals and hike costs for many companies dependent on basic materials. Still, this is just the second advance in eight sessions by the greenback. DJ30 +96.89 NASDAQ +27.09 SP500 +11.50 NASDAQ Adv/Vol/Dec 1733/977 mln/891 NYSE Adv/Vol/Dec 2158/456 mln/825

12:00 pm : Europe's major indices recently closed a whipsaw session that had them down considerably, but able to settle with strong gains. Specificially, France's CAC had been down as much as 1.2%, but it finished with a 0.8% gain. In Germany, the DAX had also been down as much as 1.2%, but was able to turn that into a 1.0% gain. Meanwhile, Britain's FTSE had fallen 1.1%, but settled with a 0.3% gain.

The turn of fortune came largely as a result of the strong buying effort that has been exhibited by U.S. participants, who have helped the S&P 500 rebound from its losses late last week. Buyers' efforts have given advancing issues a 3-to-1 advantage over declining issues in the S&P 500. DJ30 +75.96 NASDAQ +21.31 SP500 +8.63 NASDAQ Adv/Vol/Dec 1643/874 mln/939 NYSE Adv/Vol/Dec 2056/411 mln/923

11:30 am : Tech stocks have made their way to a 1.2% gain amid strength in large-cap issues like IBM (IBM 133.15, +1.37), which is scheduled to report its latest earnings results after the closing bell. The stock actually hit a fractionally improved 52-week high in recent action.

Amid this session's broad-based buying effort, financials have turned an early loss into a modest gain. Financials are currently up 0.3% for the session. The turnaround comes as bank stocks climb from a near 1% loss in the early going to trade flat. Insurers have also helped as multiline insurers climb 1.0%, property and casualty insurers advance 0.9%, and life and health insurers make their way to a 0.8% gain.

The financial sector's move into positive territory means that the energy sector is the only major sector to still trade with a loss. Energy stocks are down 0.4%, collectively. DJ30 +76.18 NASDAQ +24.73 SP500 +9.08 NASDAQ Adv/Vol/Dec 1721/775 mln/864 NYSE Adv/Vol/Dec 2121/365 mln/848

11:00 am : Participants continue to push stocks higher. Health care remains the best performing sector as it puts together a 2.0% gain. Health care stocks are up 5.5% since the start of the year; that's second only to the industrials sector.

Industrial stocks are up 1.0% this session, but up 5.7% since the start of the year. Tyco International (TYC 37.73, +0.19) has been a source of support in the sector's year-to-date move, but it has lagged a bit this session. The company announced plans to acquire Brink's Home Security Holdings (CFL 41.32, +9.90) for roughly $2.0 billion, then issued upside guidance. DJ30 +77.24 NASDAQ +24.54 SP500 +9.18 NASDAQ Adv/Vol/Dec 1712/634 mln/837 NYSE Adv/Vol/Dec 2122/313 mln/805

10:30 am : A strong 0.6% gain by the greenback against a basket of foreign currencies has left commodity prices to trade in mixed fashion. In turn, the CRB Commodity Index is just above the flat line with a 0.1% gain.

Oil has seen varied interest in early pit trade. Prices swung from an opening loss of approximately 1% to a fractional gain, but are now back in the red with a 0.5% loss at $77.60 per barrel. Contracts for February expire at the close of pit trade.

Meanwhile, natural gas prices are down a sharp 3.6% to trade near session lows at $5.49 per contract.

Precious metals have been able to garner support, however. Gold was recently priced at $1134.30 per ounce, up roughly 0.3%. Silver prices were last quoted at $18.66 per ounce, up 1.2%.

Elsewhere in the commodity complex, the Baltic Dry Index shed a mere 0.1% in its latest session. The Capesize subindex was a primary detractor as it dropped 5.4%. DJ30 +55.85 NASDAQ +22.01 SP500 +7.76 NASDAQ Adv/Vol/Dec 1696/489 mln/815 NYSE Adv/Vol/Dec 2041/252 mln/815

10:00 am : Stocks continue to make a strong advance in early action. However, the march higher has yet to reverse the losses that were logged this past Friday, when the stock market surrendered 1.1% in its worst performance in roughly one month.

Nonetheless, this morning's gains have been broad, but health care is currently out in front of the move. The sector is up 1.6% amid speculation that a Republican election to the vacant Massachusetts Senate seat could stall or stymie health care reform. Managed care providers have benefited most from that argument -- the group is up 4.4% at the moment. DJ30 +44.29 NASDAQ +17.18 SP500 +5.78 NASDAQ Adv/Vol/Dec 1606/274 mln/809 NYSE Adv/Vol/Dec 1834/167 mln/922

09:45 am : The major indices have made a strong, upward push in the first few minutes of trade. The move has been broad-based, but energy stocks (-0.4%) and financial stocks (-0.2%) remain in the red.

The financial sector's weakness primarily stems from disappointment with Citigroup (C 3.35, -0.07), which posted another quarterly loss, though it was in-line with expectations. Citi's weakness has spread to other banks, which are trading with losses of roughly 1.0%, collectively.

Meanwhile, energy stocks have been mired by softer oil prices, which are currently down 0.2% to $77.85 per barrel. Oil was down more than 1% in early pit trade, though. DJ30 +42.48 NASDAQ +16.85 SP500 +5.14 NASDAQ Adv/Vol/Dec 1645/204 mln/733 NYSE Adv/Vol/Dec 1876/130 mln/846

09:15 am : S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: +5.50. Stock futures currently point to a mixed start amid in-line results from Citigroup (C) and a stronger dollar, which is close to a 0.7% gain against competing currencies. Despite such a strong bounce by the buck, commodity prices are also somewhat mixed this morning. Other headlines to note as the opening bell draws near: Dow component Kraft (KFT) has acquired Cadbury (CBY) for a $19.4 billion mix of cash and stock after several months since Kraft first made a hostile bid; Europe's markets have pared losses, but overall overseas action remains mixed, and; Hong Kong's Hang Seng may be opened to additional Asian investors, while China's central bank has rekindled concerns for tighter monetary policy with a second week of higher yields on its auctioned Notes.

09:00 am : S&P futures vs fair value: -1.30. Nasdaq futures vs fair value: +2.00. Since Citigroup (C) announced an in-line loss of $0.33 per share for its latest quarter, its shares have slipped 3.2% to $3.31 per share in premarket trade. However, the broader futures market has made its way off of its morning lows. Still, a rather mixed start looks to be in order. Commodity prices are also mixed as gold prices sport a 0.3% gain at $1134 per ounce, but oil prices fall 1.2% to $77 per barrel in the first few minutes of pit trade.

08:35 am : S&P futures vs fair value: -0.20. Nasdaq futures vs fair value: +4.00. U.S. stock futures not trade flat-to-modestly higher, but Britain's FTSE is currently down a considerable 0.8% as its declining issues take a strong advantage over advancers. Cadbury (CBY) has offered some support, though. The confectioner has been successfully acquired by U.S. food giant Kraft (KFT) for $19.4 billion mix of cash and stock, according to The Wall Street Journal. The Wall Street Journal also reported that annual consumer-price inflation in the United Kingdom increased by its greatest ever amount in December with a 2.9% spike. In monthly terms, consumer prices climbed 0.6% for December. In France, the CAC has fallen 1.0%. Of its 40 components, France Telecom and GDF Suez are the only two names to currently sport gains. Germany's DAX is down 0.9%. Daimler (DAI) is a primary drag, but Deutsche Telekom has offered a touch of support. In Asia, Japan's Nikkei fell 0.8%. Bridgestone showed strength, but Honda Motor (HMC) proved to be a laggard. Reuters reported that Bank of Japan Governor Shirakawa pledged to keep monetary policy easy to help pull the country out of deflation. However, China's central bank raised the auction yield of its one-year bills for a second week rekindled worries over monetary tightening. That caused the Shanghai Composite to pare its early gains and settle just 0.3% for teh better. Meanwhile, Caijing magazine reported that Hong Kong's head of financial services office said that individuals will be allowed to invest in Hong Kong and other overseas areas. That pushed interest in Hong Kong's Hang Seng higher so that the index logged a 1.0% gain. Banks were some of the best performers as China Construction Bank, Bank of China, and Industrial & Commercial Bank booked strong gains. HSBC (HBC) was a laggard, though.

08:00 am : S&P futures vs fair value: -2.90. Nasdaq futures vs fair value: -1.80. Participants have returned from a long weekend to a handful of headlines. However, major earnings announcements -- Citigroup (C) this morning and IBM (IBM) after the close -- have yet to be released. For now, though, there is word from The Wall Street Journal that Dow component Kraft (KFT) has successfully struck a deal to acquire confectioner Cadbury (CBY) for approximately $19.44 billion in a cash and stock mix. Also, the dollar has made a strong advance against a basket of foreign currencies, such that the Dollar Index is currently up 0.6%. The move has somewhat hampered stock futures, which are currently flat-to-modestly lower. Overseas markets haven't offered any support in terms of positive sentiment; all three of Europe's major bourses are down markedly, while Asia's indices finished mixed amid news that China's central bank rekindled concerns for tighter monetary policy as it raised the auction yield of its one-year notes for a second week.

06:30 am : S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: +0.30.

06:30 am : Nikkei...10764.90...-90.20...-0.80%. Hang Seng...21677.98...+218.00...+1.00%.

06:30 am : FTSE...5445.43...-48.90...-0.90%. DAX...5870.64...-47.70...-0.80%.

M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)
Go Back To TheStrategyLab.com Homepage


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