Trading Update
20-Feb-14, 10:25am:

FOMC Minutes Suggest the Committee are Committed to Further Tapering



The overnight Flash Chinese PMI data was not pretty.

French and German PMIs have not been great either.

Page Turner

Elsewhere, Facebook have also bought WhatsApp for a whopping $19bn.



Update by Ishaq Siddiqi, Market Analyst,
21-Feb-14, 10:42am:

The Problem of Trading the Stock Market with a Split Personality



The FTSE 100 has been in a rather steep up-channel since the 3 Feb low at 6388. It is currently on target test the May 2013 high.

The index is currently trading around 6842 but the chart below suggests a potential test of the May 2013 high at 6876.

The FTSE’s highest level was back in the Dot Com bubble / Millennium Bug days when it reached 6950.6 on 30 December 1999.

As usual, my split trading personality makes me want to put on a number of different, and seemingly contradictory, trades:

a) I want to trade with the current up-trend
b) I want to wait; theoretically a break of 6876 will give fresh impetus for the index to move higher
c) I want to short-sell the UK index as it approaches 6876, the level should act as resistance
d) I think traders will be getting vertigo at these levels and looking for any excuse to close their positions. Some poor economic data / more talk of tapering could be good for a short-sell

Of course, I could do all of these trades, and IF I get the timing right, they could all work.

I’ve not traded yet, but d) with a dash of c) and then a) and b) might work very nicely.

But looking at my trading account history, that seems like a bit of a stretch.

In fact it might be easier, quicker and cheaper, to just lose £2 playing tonight’s EuroMillions instead.

Live FTSE Chart


Update by Jacob Wood, Editor,
21-Feb-14, 12:13pm:

Newmont Mining Predicts Strong Production Increases



The gold miner has reported a 4Q adjusted EPS of $0.33 vs $1.11 a year earlier. Gold production increased to 1.4m attributable ounces, up 16% YoY.

The US firm estimates that gold production will increase in 2015 and 2016 to between 4.8-5.2m attributable ounces.

Also see, live gold prices and charts.

Update by Jacob Wood, Editor,
21-Feb-14, 12:13pm:

Wal-Mart Trading Update



Wal-Mart have announced a 4Q underlying EPS of $1.6 vs $1.67 a year earlier.

Net sales for 4Q were up 1.4% YoY to $128.8bn.

The US retailer expects 1Q 2015 EPS to be circa $1.10-$1.20, compared to $1.14 last year. Full year EPS is estimated to be in the $5.10-$5.45 range.

Update by Jacob Wood, Editor,
21-Feb-14, 12:13pm:

Hewlett Packard Trading Update



Hewlett Packard have announced 1Q adjusted EPS up 10% YoY to $0.9 on net revenues of $28.2bn, that is down 1% YoY but flat on a constant currency basis.

HP estimates 2Q adjusted EPS to be circa $0.85-$0.89 for 2Q and $3.60-$3.75 for FY14.

Update by Jacob Wood, Editor,