The FTSE Wednesday, 21st September 2005
Tuesdays results:
Open: 5429
Close: 5416, down 13pts.
Range: 5410 - 5446. [a 36 point swing]
Month: 120pts up; on par for September.
Monday nights gut feeling was a drop between 20 -35pts. I was a tad short on the points.
Dow: As I write its still falling, 10483, down 70pts. I hope you all had the inclination to jump on board when the FOMC increased the rate to 3.75%. I did say yesterday that there would be distress signals over the DOW. Myself, I arrived home early and had a small wager, its still running. The question to be asked is 'will the FOMC decision today cause any ripple effect on the FSTE tomorrow or in the near future?'
Short answer: No.
Long answer: Although the FTSE, to a degree, falls in line with the likes of the DOW - short or long term there will be no adverse effects to the UK markets as a whole.
News items of note:
I'm sure by now all are aware of the FOMC result.
FT.com - 'Tesco caution unsettles London equities. Tesco blamed its poor results on rising oil prices' - The market sees Tesco as the profit leader amongst the food retailers; I, for one, don't see oil as the sole lubricant [yes its a pun] to Tesco's poor results. It must be something else, as well. Poor turnover perhaps! Buyers will be hesitant tomorrow and looking elsewhere for long term bargains.
The Boston Globe - 'Iran on Tuesday threatened to resume uranium enrichment and bar open inspections of its nuclear facilities if an ongoing meeting of the U.N. nuclear watchdog decides to refer it to the Security Council for possible sanctions.' - I had read elsewhere [unable to locate it] that Iran stressed that it would restrict its Oil production if bullying tactics did not cease. In short, if Iran announces it will withhold/reduce/ restrict its supply of oil - with the present situation in regards to oil - watch the markets tumble. Eye the News closely for any reference to this issue.
Oil fell back to $66. A medium plus which helped the FTSE today. Tomorrow, another small drop is anticipated.
Note: prices are more than 45 percent higher than a year ago, but off the all-time high of $70.85 a barrel reached briefly on Aug. 30 when Katrina made her début.
Charts, and nothing but the charts: Bollinger says a small rise.
Companies reporting: Too few to make an impact, and I believe Woolwoths results will be negative.
The FTSE tomorrow based on present news and data: the market is beginning to level out and continues to fall in line with September; according to a number of SB companies, even after hours, they are marking the FTSE and DOW as down; more selling then buying in the markets tomorrow.
Gut feeling: My anticipated drop for Monday clicked in today but not as big as I had hoped, perhaps it will be added / deducted from whatever the FTSE does first thing tomorrow morning. There's a lot of negatives in the air which support another medium drop.
Will I bet? A tough one. As it stands, I don't believe the market will move by much, perhaps by 12pts either way and therefore not enough for me to commit. If the mornings market and news add to a down I'll throw my shirt in.
If you are betting: make your own decision, watch the markets open and do read the news for clues at to which way the FTSE may go.
yours
UK
Tuesdays results:
Open: 5429
Close: 5416, down 13pts.
Range: 5410 - 5446. [a 36 point swing]
Month: 120pts up; on par for September.
Monday nights gut feeling was a drop between 20 -35pts. I was a tad short on the points.
Dow: As I write its still falling, 10483, down 70pts. I hope you all had the inclination to jump on board when the FOMC increased the rate to 3.75%. I did say yesterday that there would be distress signals over the DOW. Myself, I arrived home early and had a small wager, its still running. The question to be asked is 'will the FOMC decision today cause any ripple effect on the FSTE tomorrow or in the near future?'
Short answer: No.
Long answer: Although the FTSE, to a degree, falls in line with the likes of the DOW - short or long term there will be no adverse effects to the UK markets as a whole.
News items of note:
I'm sure by now all are aware of the FOMC result.
FT.com - 'Tesco caution unsettles London equities. Tesco blamed its poor results on rising oil prices' - The market sees Tesco as the profit leader amongst the food retailers; I, for one, don't see oil as the sole lubricant [yes its a pun] to Tesco's poor results. It must be something else, as well. Poor turnover perhaps! Buyers will be hesitant tomorrow and looking elsewhere for long term bargains.
The Boston Globe - 'Iran on Tuesday threatened to resume uranium enrichment and bar open inspections of its nuclear facilities if an ongoing meeting of the U.N. nuclear watchdog decides to refer it to the Security Council for possible sanctions.' - I had read elsewhere [unable to locate it] that Iran stressed that it would restrict its Oil production if bullying tactics did not cease. In short, if Iran announces it will withhold/reduce/ restrict its supply of oil - with the present situation in regards to oil - watch the markets tumble. Eye the News closely for any reference to this issue.
Oil fell back to $66. A medium plus which helped the FTSE today. Tomorrow, another small drop is anticipated.
Note: prices are more than 45 percent higher than a year ago, but off the all-time high of $70.85 a barrel reached briefly on Aug. 30 when Katrina made her début.
Charts, and nothing but the charts: Bollinger says a small rise.
Companies reporting: Too few to make an impact, and I believe Woolwoths results will be negative.
The FTSE tomorrow based on present news and data: the market is beginning to level out and continues to fall in line with September; according to a number of SB companies, even after hours, they are marking the FTSE and DOW as down; more selling then buying in the markets tomorrow.
Gut feeling: My anticipated drop for Monday clicked in today but not as big as I had hoped, perhaps it will be added / deducted from whatever the FTSE does first thing tomorrow morning. There's a lot of negatives in the air which support another medium drop.
Will I bet? A tough one. As it stands, I don't believe the market will move by much, perhaps by 12pts either way and therefore not enough for me to commit. If the mornings market and news add to a down I'll throw my shirt in.
If you are betting: make your own decision, watch the markets open and do read the news for clues at to which way the FTSE may go.
yours
UK
