Racer
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IBM is obviously going to push it up quite a bit cos it is a heavy on the index. But some earnings out pre-market so will have a look at them. C might slide a bit more as some other financials out if they aren't good either.
Apart from CAC which is up cos of Danone takeover rumour, EU and UK aren't that exhuberant. Far East and Aus markets weren't that impressed by IBM either.
FTSE is looking unhappy this morning, banks moving down. And FTSE 250 which attempted a move up for a change today has just gone negative
Apart from CAC which is up cos of Danone takeover rumour, EU and UK aren't that exhuberant. Far East and Aus markets weren't that impressed by IBM either.
FTSE is looking unhappy this morning, banks moving down. And FTSE 250 which attempted a move up for a change today has just gone negative
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macbonzo
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Pre Market looks pretty strong:
CAT +3%
IBM +4.7%
INTC +1.1%
Sept Futures at 10667. Question is will we get a push up to 10700?
My feeling is that we could get a push up today, as there is a lot of positive data (results and a feeling that Greenspan could be upbeat tomorrow)
CAT +3%
IBM +4.7%
INTC +1.1%
Sept Futures at 10667. Question is will we get a push up to 10700?
My feeling is that we could get a push up today, as there is a lot of positive data (results and a feeling that Greenspan could be upbeat tomorrow)
User
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Great action so far......
One of two scenarios can occur now......
1) We top here find resistance at 10650 again and again and then soon pop.....
2) We much around this level as we are doing now and then breakout from here get more traders sucked in and then have a fakeout.......and then decline......
Either way I'm happy selling at these levels......
Good Luck
One of two scenarios can occur now......
1) We top here find resistance at 10650 again and again and then soon pop.....
2) We much around this level as we are doing now and then breakout from here get more traders sucked in and then have a fakeout.......and then decline......
Either way I'm happy selling at these levels......
Good Luck
Racer
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-- Caterpillar Inc. shares surged 4% early Tuesday, with traders attributing the move to Wall Street commentator Jim Kramer's recommendation to investors to buy the stock ahead of earnings due later this week. Kramer said on CNBC television that he expects Caterpillar has had a "blowout" quarter. The stock could be viewed as an oil play, since Caterpillar provides equipment to oil companies, he said. Caterpillar is expected Thursday to report earnings of $1.01 a share, up from 78 cents a share in the same period a year ago, according to analysts polled by Thomson First Call. Revenue is projected at $8.3 billion, up from $7.1 billion. Shares were last trading up 4% at $52.85.
Racer
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IBM
Outlook
The company didn't give a third-quarter profit forecast. On a conference call to discuss the results, Chief Financial Officer Mark Loughridge said he believes analysts' second-half earnings-per-share estimates are "reasonable." Analysts expect IBM to earn $1.12 a share, on $21.6 billion in sales.
"We're pretty confident about this performance and we feel good about our second-quarter recovery," Loughridge said.
Goldman Sachs analyst Laura Conigliaro said a poor performance by IBM in the first quarter left many investors skeptical that the second-quarter improvement could be a one-off.
However she said, "Although this may be a point of controversy among some investors, we feel confident that the strength of IBM's June quarter will carry over into the seasonally tougher third quarter."
Conigliaro cited an expected rise in short-term bookings and rising long-term bookings.
Prudential Equity Group technology analyst Michael Turits said the company's software performance was encouraging, but he remains cautious about the outlook for infrastructure software due to uneven channel checks.
Outlook
The company didn't give a third-quarter profit forecast. On a conference call to discuss the results, Chief Financial Officer Mark Loughridge said he believes analysts' second-half earnings-per-share estimates are "reasonable." Analysts expect IBM to earn $1.12 a share, on $21.6 billion in sales.
"We're pretty confident about this performance and we feel good about our second-quarter recovery," Loughridge said.
Goldman Sachs analyst Laura Conigliaro said a poor performance by IBM in the first quarter left many investors skeptical that the second-quarter improvement could be a one-off.
However she said, "Although this may be a point of controversy among some investors, we feel confident that the strength of IBM's June quarter will carry over into the seasonally tougher third quarter."
Conigliaro cited an expected rise in short-term bookings and rising long-term bookings.
Prudential Equity Group technology analyst Michael Turits said the company's software performance was encouraging, but he remains cautious about the outlook for infrastructure software due to uneven channel checks.
roguetrader
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Not much going on today really, early surge in the indices brought a surge in total market volume over yesterday. Have been a bit busy and not been following earnings as I should, so thanx Racer for posting those snipits of info on IBM etc, very useful.
Nasdaq and SOX quite strong today.
Market internals strong on both markets, but not a runaway level. I wouldn't be leaving any longs unsupervised, you wouldn't know what mischief they might get into.
So far market has held up quite well, keeps me optimistic for one last push, would like it to be this month if anyone has any influence
Nasdaq and SOX quite strong today.
Market internals strong on both markets, but not a runaway level. I wouldn't be leaving any longs unsupervised, you wouldn't know what mischief they might get into.
So far market has held up quite well, keeps me optimistic for one last push, would like it to be this month if anyone has any influence
roguetrader
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CAT slated for before market opensrustic1 said:
JillyB
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Hi RT
I agree with this. There's possibly another push upward to take us to around the 10,720 - 10,750 level, but after this I anticipate a quick fall. 10,500 will be the first level of resistance, then after that 10,375 and further down to 10,250. What resistance each or any of these will provide will become more evident once the downward movement commences and the strength of the price action can be looked at - personally I'm favouring around the 10,375 area - but time will tell on that one.
The index seems to be in love with the 10,620 area this afternoon - two tests of it so far - is it going to breakthrough? Perhaps some more volume at 7pm will encourage it to make up its mind.
Is there any major news due out tonight?
I agree with this. There's possibly another push upward to take us to around the 10,720 - 10,750 level, but after this I anticipate a quick fall. 10,500 will be the first level of resistance, then after that 10,375 and further down to 10,250. What resistance each or any of these will provide will become more evident once the downward movement commences and the strength of the price action can be looked at - personally I'm favouring around the 10,375 area - but time will tell on that one.
The index seems to be in love with the 10,620 area this afternoon - two tests of it so far - is it going to breakthrough? Perhaps some more volume at 7pm will encourage it to make up its mind.
Is there any major news due out tonight?
roguetrader
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Like your style Jil that would suit me fine.JillyB said:
Intel, Yahoo, Motorola and Novellus report after the bell
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Pat494
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JillyB said:Hi Pat
Beach sounds good - making me wonder why I'm stuck in front of a computer!
Hi Jilly,
Nice to hear from you.
The second step I guess is to pay for what you want - hence the hunched position in front of the computer ?? lol
good luck
Racer
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I don't suppose anyone forgets or burns anything so that's okay then...
"DuPont(TM) Teflon® non-stick coatings will not begin to deteriorate until the temperature of the cookware reaches about 500 degrees Fahrenheit or 260 degrees Celsius. Significant decomposition of the coating will occur only when temperatures exceed about 660 degrees Fahrenheit or 340 degrees Celsius - well above the smoke point for cooking oil, fats or butter. Therefore, it is unlikely that decomposition temperatures for non-stick cookware would be reached without burning food to an inedible state. However, these high temperatures can be reached if dry or empty cookware is neglected on a hot burner or in an oven. Over the past 40 years, there is only one documented case of a minor health effect as a result of non-stick cookware."
DuPont Statement in Response to Class Action Lawsuit on Non-stick Cookware
"DuPont(TM) Teflon® non-stick coatings will not begin to deteriorate until the temperature of the cookware reaches about 500 degrees Fahrenheit or 260 degrees Celsius. Significant decomposition of the coating will occur only when temperatures exceed about 660 degrees Fahrenheit or 340 degrees Celsius - well above the smoke point for cooking oil, fats or butter. Therefore, it is unlikely that decomposition temperatures for non-stick cookware would be reached without burning food to an inedible state. However, these high temperatures can be reached if dry or empty cookware is neglected on a hot burner or in an oven. Over the past 40 years, there is only one documented case of a minor health effect as a result of non-stick cookware."
DuPont Statement in Response to Class Action Lawsuit on Non-stick Cookware
