Henderson International ... Share Discussion Threads

[crocodile] 06/1/2002 13:00

  (Click on chart for a streaming feed & select INDU) TECHMARK   (Click on chart for a streaming feed) Charts will reset on Monday.   Far East Close  Nikkei  +70   HK +190 Big gains last night. Dow -18  S&P -2  Nas -4   UK FTSE  -5   (Click here for the latest CNN Futures)     Headline:  Excessive consumer spending may force the Bank of England to raise the interest rate, Governor  Edward George has warned.  EasyJet expansion with 70 new planes to order British consumers borrowed at a record pace in November to buy homes, cars and other expensive items Further bad news for Carlton & Granada as BBC ratings beat ITV for the first time. Argentina's lower house of congress approved a plan to devalue its currency and ease an economic crisis that toppled two governments. The proposal now faces a vote in the senate Italy's Foreign Minister Ruggiero Resigns After Cabinet Rift Over Europe Harrods UK  could be floated on the NYSE  BT May Distribute Television Content, Sunday Times Reports also the new Chief Verwaayen May Sell Fixed-Line Phone Network, Paper Reports   Weekly Calendar Monday January 7th - Friday December 11th      (All times GMT)   UK US Europe Mon Results Reports Photo-Me International I   11:00 Dec Car sales 19:30 Dec BRC sales monitor . . Tue Results       Reports Bespak I Electonics Boutique Trade Statement Homestyle Trade Statement Next Trade Statement Pace I   07:30 Halifax Dec House Prices Alcoa Intermagnetics General       15:00 Nov factory orders 20:00 Nov consumer credit     11:00 GE Nov industrial orders 11:00 EU Dec Economic sentiment 11:00 EU Oct retail sales 11:00 EU Nov PPI (Producer Price Index) Wed Results Reports Ex Dividend Dixons I Reg Vardy I Also Jurys, Doyle Hotels, Kleeneze Accenture ATI technlogies Lennar, Nautica, Suntrust banks   08:50 GE Dec unemployment 11:00 EU Dec business climate 11:00 EU Q3 labour costs Awaiting data. ....... Thu Results         Reports Abbey I WM Morrison F Northgate I Trading Statements Clinton Cards, Merchant retail House of Fraser, Selfridges. Signet Trading, Matalan    09:30 Dec BRC shop price index 12:00 MPC Rate Announcement MBNA Corp KB Home         13:30 Initial jobless claims 13:30 Dec import/export prices 15:00 Nov wholesale inventories 16:00 Chicago manufacturing index             07:45 Dec cpi 08:15 share price Nov industrial production 11:00 GE Nov industrial output 11:00 Euroland Q3 GDP Fri Results     Reports Iceland F Ottakar Trading Statement   07:00 BAA Traffic figures BB&T, Fannie Mae Commerce Bancorp 13:30 Dec PPI (Producer Price Index) 20:00 Greenspan report      07:45 FR Q3 GDP (F)inals  (I)nterim - (EU)rope  (GE)rmany  (FR)ance  (IT)aly  (SP)ain   Trading Thoughts:  ;  Is the party over? Well we have all the indices in overbought areas so will it continue and will the S&P break through the pivotal 1180 resistance level? My thoughts are that we may be in for a period of profit taking for various reasons. The underlying economy is still very poor and an increasing squeeze on UK company profits is expected to be highlighted this week. Figures are expected to show a further fall in the rate of return for investors in British industry. Labour costs are increasing and the slowdown is making it harder for companies to raise prices. We also now have worries that interest rates changes may be about to reverse direction. The CBI which said it had recorded the fastest year-on-year sales growth in December for that month since 1987. Low interest rates has also led to a big boom in UK credit and Eddie George has taken notice!  On my monitor watches I have started to see almost panic buying on many shares such as ARM as people have been worried about missing the party as the Bulls push up the prices. Also I notice that even the old tech engineering shares are starting to move up as people find it increasingly difficult to find value investments.  If we do get even a hint of interest rate increases watch the house builders and retail sectors for the start of fall back. I will be very reluctant to go long on shares next week and I will be looking to make profits by selling house builders such as Barratts, Wimpy & Persimmon. Also retail shares including Matalan may be under pressure with a big week of trading statements.  Next trader meeting Thu January 24th (Details to be EMailed to all who have shown interest this week) First full week of trading this year so good luck to you!  David 01902 676159