Racer
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Coca-Cola Enterprises shares fall
Thursday September 8, 12:38 pm ET
(Adds Coca-Cola comment; changes dateline from NEW YORK)
ATLANTA (Reuters) - Coca-Cola Enterprises Inc. (NYSE:CCE - News), the No. 1 U.S. soft drink bottler, on Thursday said its earnings would miss analysts' forecasts because of weaker-than-expected shipments in Europe, sending its shares down nearly 9 percent.
The company said European demand has suffered from slow retail trends and unseasonable weather.
Coca-Cola Enterprises said third-quarter earnings would come in below the analysts' average forecast of 51 cents a share.
The Atlanta bottler forecast full-year earnings in the "low to mid-$1.30" range, excluding the impact of Hurricane Katrina, which may include lost sales in New Orleans, employee and disaster relief efforts and a short-term increase in cost of sales.
"Today's news can only be considered a negative, and improving Europe trends were an element of our investment thesis," analysts at Legg Mason said in a research note. They estimated that Hurricane Katrina would subtract an additional 5 cents a share from profits.
Coca-Cola Enterprises shares slumped $1.92, or 8.7 percent, to $20.18 in midday New York Stock Exchange trade.
The stock was the biggest decliner on the Dow Jones Titans Food and Beverage index (^DJTFOB - News), which was down 0.6 percent.
Shares of Coca-Cola Co. (NYSE:KO - News) were down 44 cents, or 1 percent, at $44.21.
http://uk.us.biz.yahoo.com/rb/050908/food_cocacolaenterprises.html?.v=4
Thursday September 8, 12:38 pm ET
(Adds Coca-Cola comment; changes dateline from NEW YORK)
ATLANTA (Reuters) - Coca-Cola Enterprises Inc. (NYSE:CCE - News), the No. 1 U.S. soft drink bottler, on Thursday said its earnings would miss analysts' forecasts because of weaker-than-expected shipments in Europe, sending its shares down nearly 9 percent.
The company said European demand has suffered from slow retail trends and unseasonable weather.
Coca-Cola Enterprises said third-quarter earnings would come in below the analysts' average forecast of 51 cents a share.
The Atlanta bottler forecast full-year earnings in the "low to mid-$1.30" range, excluding the impact of Hurricane Katrina, which may include lost sales in New Orleans, employee and disaster relief efforts and a short-term increase in cost of sales.
"Today's news can only be considered a negative, and improving Europe trends were an element of our investment thesis," analysts at Legg Mason said in a research note. They estimated that Hurricane Katrina would subtract an additional 5 cents a share from profits.
Coca-Cola Enterprises shares slumped $1.92, or 8.7 percent, to $20.18 in midday New York Stock Exchange trade.
The stock was the biggest decliner on the Dow Jones Titans Food and Beverage index (^DJTFOB - News), which was down 0.6 percent.
Shares of Coca-Cola Co. (NYSE:KO - News) were down 44 cents, or 1 percent, at $44.21.
http://uk.us.biz.yahoo.com/rb/050908/food_cocacolaenterprises.html?.v=4
Racer
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Oil posts first gain in four sessions
Crude futures moved higher as energy traders tried to make sense of two very different evaluations of the nation's domestic-oil supplies.
The benchmark oil contract fell to a session low of $63.10 after the Energy Department reported a drop of 6.4 million barrels in weekly crude inventories, a comfort for some analysts who had been forecasting a decline closer to 10 million.
But the contract then bounced off that session low after the American Petroleum Institute said crude inventories fell 14.3 million for the week ended Sept. 2. Some traders questioned whether the reported declines in U.S. petroleum inventories will warrant revisions due to the Gulf Coast chaos caused by Hurricane Katrina
Crude for October delivery ended up 12 cents at $64.49 a barrel in New York trading
U.S. stocks drop, but accuracy doubted; natural gas up
Some major shocks to come I think!
Crude futures moved higher as energy traders tried to make sense of two very different evaluations of the nation's domestic-oil supplies.
The benchmark oil contract fell to a session low of $63.10 after the Energy Department reported a drop of 6.4 million barrels in weekly crude inventories, a comfort for some analysts who had been forecasting a decline closer to 10 million.
But the contract then bounced off that session low after the American Petroleum Institute said crude inventories fell 14.3 million for the week ended Sept. 2. Some traders questioned whether the reported declines in U.S. petroleum inventories will warrant revisions due to the Gulf Coast chaos caused by Hurricane Katrina
Crude for October delivery ended up 12 cents at $64.49 a barrel in New York trading
U.S. stocks drop, but accuracy doubted; natural gas up
Some major shocks to come I think!
fudgestain
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Is this by accident or design? It happens to be true.karmit said:
Believe no one else because they don't know. They never do!
And if they ever did, they would trade it each day and not publicise it.
You know, what can you say when you see such horsesh** as buy if 10640 and sell if 10590?
That says you don't want the 50 points in-between and if that range happens to be about all there is for the session you are guaranteeing yourself a loss for the day.
Sweet.
[
You know, what can you say when you see such horsesh** as buy if 10640 and sell if 10590?
That says you don't want the 50 points in-between and if that range happens to be about all there is for the session you are guaranteeing yourself a loss for the day.
Sweet.
[/QUOTE]
Yes some are full of horse ****,but it is good cannon fodder
You know, what can you say when you see such horsesh** as buy if 10640 and sell if 10590?
That says you don't want the 50 points in-between and if that range happens to be about all there is for the session you are guaranteeing yourself a loss for the day.
Sweet.
[/QUOTE]Yes some are full of horse ****,but it is good cannon fodder
fudgestain said:You know, what can you say when you see such horsesh** as buy if 10640 and sell if 10590? That says you don't want the 50 points in-between and if that range happens to be about all there is for the session you are guaranteeing yourself a loss for the day. Sweet.
A guaranteed loss for the the day by not entering the market. Nope, I just can't get my head around that one.
mickandpete
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Macmacbonzo said:
It would appear to me that this single sentence of yours reflects the nub of the market
Circumstances are beyond the comprehension of this market
Opinions range through the whole spectrum as to what happens next
What the market wants is FACTS
Numbers that show the effect of events,that is what it can understand
So far there has been no data relevent to events
It may well be The Fed is in the same boat,
The data over the next few weeks/months will decide the outcome
Your supercilious "horse****" comment refers to one of my posts where I stated that I was looking to go long at around 10640 or short below 10590. These points related to yesterdays resistance and support levels in the index and apart from a late dip and recovery in the afternoon the index traded within that narrow range all day.fudgestain said:Is this by accident or design? It happens to be true.
Believe no one else because they don't know. They never do!
And if they ever did, they would trade it each day and not publicise it.
You know, what can you say when you see such horsesh** as buy if 10640 and sell if 10590?
That says you don't want the 50 points in-between and if that range happens to be about all there is for the session you are guaranteeing yourself a loss for the day.
Sweet.
Someone would have to be absolutely prescient to collect anything up to 50 pts within such a narrow range since it is far to compressed to trade in its own right. Since nobody is prescient the only sensible approach is to try and trade any break in that range since it could presage a more significant move up or down. Since nobody can be certain if a break of support or resistance will trigger a major move until it is well underway it is prudent to operate tight stops until a real move has been established.
Volume between 11.00 and 3.00 yesterday was light and this can often indicate a fake break with volume returning if a breach occurs. This is exactly what happened yesterday as volume returned in the last 45 minutes, at 10570, to drive the market back up to nearly 10600 at the close. My short was triggered at 10590 yesterday and I closed it out at 10592. I tend to use tight trailing stops on a daytrade and much longer stops on swing trades.
Resistance at the 10640 - 50 level remains in tact whilst yesterdays price action indicates that the range may have widened a bit with support now closer to the 10550 level. Everyone has their own trading style and various people post their own views regarding various technical or fundamental aspects that could potentially drive future direction. This does not constitute either a forecast or an opinion regarding likely market direction.
If there is any "horse****" on this board it is your contention that there was potentially 50pts for the taking within that narrow trading range yesterday.
Racer
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fudgestain said:Is this by accident or design? It happens to be true.
Believe no one else because they don't know. They never do!
And if they ever did, they would trade it each day and not publicise it.
You know, what can you say when you see such horsesh** as buy if 10640 and sell if 10590?
That says you don't want the 50 points in-between and if that range happens to be about all there is for the session you are guaranteeing yourself a loss for the day.
Sweet.
'Don't want the 50 points in between',
If you are not sure of direction and you make a choice in the wrong direction then entering the trade is more likely to guarantee a loss than staying out (with a foolproof guarantee no loss at all) and sitting on your hands to wait until you are happy with the trade.
Do you feel that you have always got to be in the market no matter what?
leovirgo
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LONDON (AFX) - Oil prices were higher as participants reviewed the tight
gasoline supply situation following the release yesterday of the first set of US
inventory data to reflect the supply losses from Hurricane Katrina, dealers
said.
At 11.08 am, October-dated Brent futures contracts were up 57 cents at 63.65
usd a barrel.
Meanwhile, US benchmark October-dated contracts were up 44 cents at 64.94
usd, in pre-market deals.
"The current gasoline supply situation is much worse than any of us had
hoped," said Societe General analyst Deborah White.
Yesterday the Department of Energy reported US crude stockpiles fell 6.4 mln
barrels to 315 mln barrels for the week ending Sept 2.
US gasoline stocks also fell by 4.3 mln barrels to 190 mln barrels, in the
tenth weekly stock draw-down, according to the DoE.
The gasoline stock draw-down should have been bearish for prices for about
ten seconds, White said.
Instead there was a major sell-off yesterday. The report revealed the crude
stock falls were not as bad as had been feared, and that the market is still
awash with crude, one London trader said.
Separately the market also digested the first International Energy Agency
report since hurricane Katrina.
"The IEA report is very neutral. It is playing up the demand slowdown in
China and 8 out of 9 OECD countries and down-playing the gasoline situation,"
White said.
gasoline supply situation following the release yesterday of the first set of US
inventory data to reflect the supply losses from Hurricane Katrina, dealers
said.
At 11.08 am, October-dated Brent futures contracts were up 57 cents at 63.65
usd a barrel.
Meanwhile, US benchmark October-dated contracts were up 44 cents at 64.94
usd, in pre-market deals.
"The current gasoline supply situation is much worse than any of us had
hoped," said Societe General analyst Deborah White.
Yesterday the Department of Energy reported US crude stockpiles fell 6.4 mln
barrels to 315 mln barrels for the week ending Sept 2.
US gasoline stocks also fell by 4.3 mln barrels to 190 mln barrels, in the
tenth weekly stock draw-down, according to the DoE.
The gasoline stock draw-down should have been bearish for prices for about
ten seconds, White said.
Instead there was a major sell-off yesterday. The report revealed the crude
stock falls were not as bad as had been feared, and that the market is still
awash with crude, one London trader said.
Separately the market also digested the first International Energy Agency
report since hurricane Katrina.
"The IEA report is very neutral. It is playing up the demand slowdown in
China and 8 out of 9 OECD countries and down-playing the gasoline situation,"
White said.
leovirgo
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It looks very uncertain as to what direction DOW will take today. Many components of DOW still have upside potential within a longer term down trend. To me, short term upside can't be ruled out. But it will be more fun once the the rollercoaster has reached the peak.
macbonzo
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Racer said:
I think you are absolutely spot on with that. Far too many traders look to trade every day. Not trading is often the best option. Just because there are potential opportunities all the time does not mean you should attempt to trade them. In fact, merely sitting in front of a screen can be an extremely stupid thing to do. You end up getting frustrated that you just missed a potential opportunity, and before you can stop yourself, you imagine you see an opportunity and jump on it, it turns out to be nothing other than impatience and you ruin your day/ week/ month.
Most people would benefit from trading less, but of course broker's commission structures encourage you to trade more. If you really have a strong conviction about the market and are playing a 100 point+ stop, often it is better to switch of the screen and go out.
As a newbie to this site have any of you come across this report of the PPT in action.
I haven't read all 600 odd pages of this topic so forgive me if it's been mentioned before.
http://www.sprott.com/pdf/pressrelease/TheVisibleHand.pdf
It's a large report, 41 pages so you may need to be patient.
JohnK.
I haven't read all 600 odd pages of this topic so forgive me if it's been mentioned before.
http://www.sprott.com/pdf/pressrelease/TheVisibleHand.pdf
It's a large report, 41 pages so you may need to be patient.
JohnK.
crypto sporidium
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Has the post-Katrina rise of the DJIA been fuelled by the Fed. increasing the liquidity in the US banking system? The commentator quoted below seems to suggest just that.
=MONUMENT SECURITIES: Yellen Clarifies Fed Approach
By Stephen Lewis
Of Monument Securities
LONDON (Dow Jones)--...[edit]...the Fed probably did adopt a slightly looser credit stance in the days following Katrina's landfall. Central bank data show that free reserves in the US banking system rose to an average of $1,498m in the two-week period to 31 August from a $963m average in the preceding two weeks. Free reserves data for September have yet to be released but the latest published figures do include three post-Katrina days.
The rise in free reserves of $500m-plus from the previous statement period suggests there may have been a surge in liquidity in the banking system which, if it occurred in those three days, may have seen free reserves peaking at more than $3bn. If so, the Fed's injection of liquidity would have been comparable with its action immediately following the power outage in the north-eastern states in August 2003. It would have been far less than the degree of Fed accommodation after 9/11 but those attacks were directed against the financial sector and they caused more disruption to markets.
Clearly, the extreme volatility in gasoline and other oil-related futures prices last week was likely both a cause and a symptom of distress among traders. This justified an accommodative Fed stance aimed at heading off the possibility of a chain of financial defaults in the energy sector. The volatility in energy-related markets has since subsided. As in the August 2003 episode, the Fed probably wasted no time in draining excess liquidity, once it was confident the systemic threat had been averted.
Short-term variations in liquidity may well have been mirrored in recent movements in short-dated US Treasuries prices, with the 2-year yield dipping initially from above 4.00% to a 'low' of 3.69% before rebounding to the 3.85-3.90% range.
=MONUMENT SECURITIES: Yellen Clarifies Fed Approach
By Stephen Lewis
Of Monument Securities
LONDON (Dow Jones)--...[edit]...the Fed probably did adopt a slightly looser credit stance in the days following Katrina's landfall. Central bank data show that free reserves in the US banking system rose to an average of $1,498m in the two-week period to 31 August from a $963m average in the preceding two weeks. Free reserves data for September have yet to be released but the latest published figures do include three post-Katrina days.
The rise in free reserves of $500m-plus from the previous statement period suggests there may have been a surge in liquidity in the banking system which, if it occurred in those three days, may have seen free reserves peaking at more than $3bn. If so, the Fed's injection of liquidity would have been comparable with its action immediately following the power outage in the north-eastern states in August 2003. It would have been far less than the degree of Fed accommodation after 9/11 but those attacks were directed against the financial sector and they caused more disruption to markets.
Clearly, the extreme volatility in gasoline and other oil-related futures prices last week was likely both a cause and a symptom of distress among traders. This justified an accommodative Fed stance aimed at heading off the possibility of a chain of financial defaults in the energy sector. The volatility in energy-related markets has since subsided. As in the August 2003 episode, the Fed probably wasted no time in draining excess liquidity, once it was confident the systemic threat had been averted.
Short-term variations in liquidity may well have been mirrored in recent movements in short-dated US Treasuries prices, with the 2-year yield dipping initially from above 4.00% to a 'low' of 3.69% before rebounding to the 3.85-3.90% range.
Racer
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I know this is the Dow thread but some thoughts on the DAX.
I think the DAX is a very good index to watch over the next few weeks.
Today had a very big selloff of around 1% in 5 mins which was first thought to be a 'fat finger' but now other comments are saying it wasn't. But the DAX has risen 100% in 2 years, okay on current earnings p/e are good for several components and yields also attractive, but.... this is retrospective of course, the future can be estimated but is not guaranteed.
I thought last week that the Dax showed signs of weakness but it rebounded very fast and I was proved it was stronger than I thought, it obviously wanted to look at 5000! But now it has where now? There seems to be a lot of nervousness at this level.
If the DAX can stay above 5000 then the US could go much higher.. not saying the two are related of course but the Dax is a very sensitive index and reacts quite a lot to US news. It is tech sensitve and after TXN last night I would have expected it to hold onto the gains.
I think the DAX is a very good index to watch over the next few weeks.
Today had a very big selloff of around 1% in 5 mins which was first thought to be a 'fat finger' but now other comments are saying it wasn't. But the DAX has risen 100% in 2 years, okay on current earnings p/e are good for several components and yields also attractive, but.... this is retrospective of course, the future can be estimated but is not guaranteed.
I thought last week that the Dax showed signs of weakness but it rebounded very fast and I was proved it was stronger than I thought, it obviously wanted to look at 5000! But now it has where now? There seems to be a lot of nervousness at this level.
If the DAX can stay above 5000 then the US could go much higher.. not saying the two are related of course but the Dax is a very sensitive index and reacts quite a lot to US news. It is tech sensitve and after TXN last night I would have expected it to hold onto the gains.
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fudgestain
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Take it easy Mr market commentator. There are always short term, long term, any term so-called support or resistance levels and lines littering charts .. if you believed all of them it would be like looking at a railway marshalling yard.kriesau said:
By all means sell at support levels and buy at resistance levels .. take your choice from the wide variety available.
Racer
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fudgestain said:Take it easy Mr market commentator. There are always short term, long term, any term so-called support or resistance levels and lines littering charts .. if you believed all of them it would be like looking at a railway marshalling yard.
By all means sell at support levels and buy at resistance levels .. take your choice from the wide variety available.
As you seem keen to grab every available point, perhaps you could enlighten us with your method of picking the entry point?
