Presented by Michael Hevern
Cubefinancial
Click here to watch the presentation.
or
Click here to download the mp3 audio recording (1010Kb).
Archive for September, 2008
You are currently browsing the Online Stockmarket Trading Update blog archives for September, 2008.
Monday 29th September 2008 Cube Morning Wrap
Monday, September 29th, 2008Friday 26th September 2008 Cube Morning Wrap
Friday, September 26th, 2008Presented by Michael Hevern
Cubefinancial
Click here to watch the presentation.
or
Click here to download the mp3 audio recording (975Kb).
Transcription below:
****************************************************************************
Good Morning and Welcome to Cube Wrap for Friday, the 26th of September, I’m Michael Hevern for Cube Financial.
The information provided within this presentation is general advice only and you should consult the services of a financial professional in order to ascertain whether the information is applicable to your investment strategies and risk profile. Again, it is general advice only.
We saw the Dow up on the expectation of a resolution of the rescue plan with congress sooner rather than later this picked up throughout most of the day, but that was attempted after there were reports that the resolution is not eminent.
The key stories of the day were that GE cut its earnings in news going forward and so as it said it need to increased liquidity. Some information there on the bank some short selling with mortgage rates, mortgage rates have increased around about 0.5% last week due to the bailout proposal, the World Bank is also reported to have a tentative pack on the proposal . We saw GE up 4.4% on the day and the financials were up as well with JP Morgan up 7.3 and Bank of America up 3.9% on the day.
In the NASDAQ, we saw the recovery there swing higher for those swing traders there a nice low-risk entry there with the stock being yesterday’s low and we are looking to run after that previous high last week.
The NASDAQ was up 1.4%. We saw the S&P up 2% and the Dow up 1.8% on the session though were the stocks in the NASDAQ, Apple up 2.5%, and Microsoft up 3.4%, and Cisco up 3%, so good value really there in the NASDAQ. The ADRs, are a concern to Australia and include ANZ and NAB which were both up around 3.5%. BHP and Rio were both up as well around about 1% on the session.
The gold stocks fell down, we see gold stocks index down 2.4% and the oil index was up 2.5% on the back of the higher oil price. We saw Chevron and Exxon up 2.6% and 3.4% respectively and ResMed and James Hardier were both up around about 0.5% on the session.
In the UK, we saw that market up again at a swing higher there. It was play catching there, breaks to the top side of the overnight high, would see a positive pushup towards that 0.382 resistance level there and again it is still above that critical 5000 level. Banks recovered with Royal Bank of Scotland, HBOS, and Lloyd, and Barclays up between 2% and 7% on the session, so a good night there for the financials and the insurers bounced back as well after the ASXs chief executive, Henry Casjuries told the European media that these current crisis is offering opportunity for their company . This companies are insurance companies, Aviva, Prudential, and all mutual all up between 8.5% and 12.5% on the session, so [you may see a bounce in these insurers in our market today as well.
Elsewhere in Europe we saw the DAX and the CAC were both up 1.9% and 2.7% respectively.
In Asia, we see that the Nikkei was slightly down, but it did close above the open and again it formed a strong pattern there with a run up to that 0.5 resistance level there, so something around in the order around about 12600 to be looking for a target there. It does break out to the high side there.
Elsewhere in Asia, we saw the Hong Kong was down 0.2%, so flat for the session.
The Chinese stocks were up 3.6%. In the commodities, we saw oil holding its own there. The November contract was 108. Smart price until up there, it is up around the $111, so, that should bid well for our oilers today.
The bailout is seen as a positive for world demand going forward, so that is why the prices holding there. With the gold price, we see that forming a bit of a consolidation passing over that did pull back. It was closed down $7 that was on the back of the fact that it has seen resolution of the bailout package, would see a spurt in the equities market in short term at least.
On the ASX, we are sent to consolidate again. I think we had the SPI up 63, so got a few positive leads there with the energy stocks and banks. So, we did see some green today, but remember it is Friday. We see in the news, Felex is in the news, they are ready to proceed with the Woolambark Mine and they still got BHP and RIO in the data room pointing over due diligence to see what prospects for take over there; however rumor has it that BHP and Rio really only there just to progress their assets. Energy to offer support today.
Gold stocks may weigh today that had pretty good run in the last 10 days and we see New Farm reported yesterday, excellent report there, earning BPS up 30%, revenue up 40%, and net profit up 35%, but that was just above the consensus but obviously they are at positive going forward as well.
MRA was a big story yesterday apart from the other stocks such as Babcock & Brown and ALCOA, but people were saying it is too cheap at the moment. It is up around about 38% yesterday and just be careful there because Babcock does have over 50% of the stocks, so they have a pretty big influence on stock there. Expect the ASX to consolidate and remember it is Friday.
Should you have any questions about the information provided within this presentation, please call the equities and options desk or the CFD advising desk, and as always trade carefully.
Thursday 25th September 2008 Cube Morning Wrap
Thursday, September 25th, 2008Presented by Michael Hevern
Cubefianacial
Click here to watch the presentation.
or
Click here to download the mp3 audio recording (910Kb).
Transcription below:
*********************************************************************************
Good Morning and Welcome to Cube Wrap for Thursday, the 25th of September, I’m Michael Hevern for Cube Financial.
The information provided within this presentation is general advice only and you should consult the services of a financial professional in order to ascertain whether the information is applicable to your investment strategies and risk profile. Again, it is general advice only.
Once again we saw the DOW drift down. It is looking to test the lows of last week. All eyes will be on the DOW to see though it does not reach that level.
We see in the new group being put before Congress and suspected it is taken a while to see through. The DOW was down 3% for the session. So, S&P 500 down 1.2% and the NASDAQ up 0.1%.
It saw some gains in the NASDAQ with the Apple up 1.5%, Microsoft up 1.1% and Cisco up 0.3% on the session. Of interest, with the ASX, ADRs for BPH down 1% and the RIO of 0.6%.
We saw James Hardy down 3.5% gave back most of the gains it has had for the last few days. ResMed up 1.5% and the banks, ANZ and NAB up 4.9% and 6.3%. That made a bit of the catch up for out market on the trading session yesterday.
We will see that in the UK, the market there was drifting down as well. You can trace 50% of that spike up for the last week and again all eyes will be checking whether it can hold. Initially, the current level, which goes back to July and the spike down from last week, still above that 5000 mark it’s been pressing by week oil price and commodities were down as well. We saw in Japan, the market was up slightly which is a bit of a surprise given that we did have the whole day on the previous session. Other sovereign funds actually stepped into the market a bit early and if the rescue proposal can come into provision in the US, it might be a good time to start picking up assets and market based prices. We will see that Hong Kong was up 0.5% and Chinese shares were up slightly up 0.7% on the session.
In the commodities, we saw oil drift back a dollar to 107, still above the 100 dollar mark a day, the oil was down that did impact on price obviously. In the gold market, we saw gold up over 895 dollars on the oil price and the weak US dollar. Rest of the commodities was down generally with copper down 1%, lead down 0.3%, zinc up 1.1%, aluminum and nickel down 0.3% and 0.05% respectively. We saw a sell off in the stock commodities as well with Wheat down 2.7% and Corn up slightly 0.4%.
In our market, we see that the ASX is set open high again today. The market is trading around the 5000 mark in the all ords and just below that in the ASX 200. We do not really have a lead from the US those with convictions and this is the low time to pick up stocks. We are closing the gaps that we made last week and stocks like RIO has closed the gap. NAB has recovered quite considerably from last week’s sell off and it is starting to get on the right of the broken shares as well and they are saying that they are not likely to have to raise small capital short term and they are looking to sell off assets into the plan if and when it does appear, SPI was down 34 point.
Elsewhere on the ASX there are rumors that the short selling ban will be lifted sooner rather than later. Financials likely to consolidate on the market.
RIO and BHP likely to weigh just stock prices of the weaker commodity prices. The ADRs were, BHP was down 1%, RIO up 0.2%, gold stocks were likely to offer support mostly and Newcrest in the last couple of weeks and you expect to be the consolation around these levels.
Today the giants continues to confound the retractors with the evening DOW up 25%, profit up 25%, and they have also increased the dividend. So an excellent report there. Sum has been placed on the radar by Deutchse Bank, they have upgraded to buy given the considerable sell off that that particular stock has suffered in the last few weeks saying that the current evaluations pay on the banking units around that 5 times of earnings and the insurance part of this is trading around 30% discount to that of IAG. So, obviously fundamentally that should bode well for the Suncorp network price.
ASX will open lower today, but those with the conviction that we are seeing a bottom here will be looking to buy into this market, look for stocks with cash on the books and low debt and good possibilities going forward.
Should you have any questions about the information provided, please call the equities and options desk or CFD trading advising desk on the numbers provided, and trade carefully.
Market Update – ASX Top 20
Wednesday, September 24th, 2008Dear Members,
I have updated MDS Radio with a new recording covering the XJO, DJI and the ASX Top 20.
Best Regards,
Leon Hinde
Click here to watch the presentation.
Wednesday 24th September 2008 Cube Morning Wrap
Wednesday, September 24th, 2008Short Selling Ban
Tuesday, September 23rd, 2008Please note that in light of Sunday’s ASIC statement MDS Financial Trading have instituted a temporary restriction on short-selling all Australian stocks.
For full details, please see the ASIC website announcement here.
There is also a temporary restriction on short-selling more than 30 UK financial stocks as of midnight (London time) Thursday 18 September 2008 and the US regulator SEC has also announced similar restrictions on certain financial stocks. (more…)
Tuesday 23rd September 2008 Cube Morning Wrap
Tuesday, September 23rd, 2008Presented by Michael Hevern
Cubefinancial
Click here to watch the presentation.
or
Click here to download the mp3 audio recording (1217Kb).
Transcription below:
********************************************************************************
Good morning and welcome to Cube Wrap for Tuesday 23rd of September. I am Michael Hevern for Cube Financial.
The information provided within this presentation is general advice only and you should consult the services of a financial professional in order to ascertain whether the information is applicable to your investment strategies and risk profile. Again, it is general advice only.
Well the Dow had another volatile session overnight down 3% at this time after consent of the rescue plan being proposed by the US government met with concerns by the investors. We saw there was a particular concern in detail as well the congress will actually ascertain what impact that will have on US company going forward.
We saw some news in the financial sector with Morgan Stanley selling at 26% stake to Japanese bank, Mitsubishi financial group, and it was in the order of 8.4 billion dollars and saw Morgan Stanley rise on the back of that up 9%. They were down 31% for the stage. Other news were GM had its trading cut by the Fits Group starting the liquidity access to come through capital and the fact that they moved around the 3.5 billion dollar credit facility and also cut the dividends going forward as well. S&P have held their ratings in the stage for June. Other news about the bank group was the third of the banks whole GSE stock which is the stock that the US government is going to buy back and that is a concern. US government is going to fight the bear. We saw JP Morgan, General Motors, and Bank of America giving back a lot of the gains from spike on Friday night. Short selling ban really did have the impetus or follow through with the implications that was expected and were also added to the list of financial stocks which is currently shorter in US. You can see volatility is key we saw the average volatility that was around a couple of years ago about 1%, but this month we’ve been seeing about 3% moves quite regularly in the US markets, Key indicator of a bottom forming but time will tell, it really needs to break the monthly ties to indicate change in trend for the US markets going forward.
The NASDAQ down 4%, so profit taking. Big news in the NASDAQ was the fact that Microsoft, Nike, and HP all buying back shares in the order of 53 billion dollars in total, so that should help that market going forward. We saw Microsoft was actually up 1%, Apple down 7%, and Cisco down 4.5% on the session. Other key stocks that would of interest to the Australian market, BHP and Rio up 4% and 5.5% respectively. The gold index was also up 7.5% on the session while the oil index was down 0.8%. We saw Chevron and Exxon down around about 1% and Dumont up 6% on the session. The banks ADRs were mixed with the ANZ flat for the session while NAB was down 3.5% for the session. We saw a spike in James Hardy up 8.9% on the session, so that will not be interesting for lists of stocks in our market.
On UK markets, we saw it down 1.4%, still above the 5000 psychological level there, crude prices spiked and that had an impact on these equities market in the UK. Energy stocks did gain, but there was fear of inflation worries going forward due to that spike. The biggest banks or big banks weighed on the sector with stocks falling between 4% and 6% across the board. In financials services industry, oils and energy stocks were up back of the spiking oil price with energy stocks up between 2% and 4.5% while miners were mixed with Xstrata, BHP, and Rio rising between 1.7% and 3.3% in UK market. Vodafone shed 2.6%.
In the Asian markets, we saw Japan up 1.4%, abit conservative there because the market is closed today and banks were up with Mitsubishi and financial group up 4.2%, silver up 2.9% on the session. The largest Japanese mortgage center that it is looking to invest in the Asian and European operations of investments. Honda was up 5% and the Industrial Maker was up 3.6% on the session. Elsewhere in Asia, we saw Hong Kong up 1.6% and Chinese market surged 7.7% on the session. Oil, the big news of the day, we can see there a spike over 25 dollars during the session which is a short squeeze between the change over of contracts. It was biggest game every in the oil market and we can see there what an impact it had, it will be interesting to see where that holds up because it was definitely a spike in the liquidity in the market.
The oil price actually got up to around about 130 dollars at one stage. So investors are looking to get away from the US dollar, and into commodities, we saw gold up on the back of that as well, closed above 900 dollars 992. USD had its biggest falls against Euro since the Euro came into exception and gold prices were spike in the oil price. It helped the other commodities as well with CRB index having its biggest gain since 1966. Gold was up 5% and up over 18%, copper up 2.7%, lead up 4.7%, zinc up 3.4%, aluminum up 0.4%, and nickel up 3.2%. We also saw short-covering the stock commodities well with wheat up 2.7% and corn up 3%. ASX, the SPI was down over 111 points overnight, they are set to get back into the ball game that we looked at yesterday. Look at the stocks which spiked yesterday and get back gains early and the short selling ban effectiveness that was really questionable towards the end of the day yesterday as we did see a slight decline. Still concerns up there about volatility of the market. Financials were weighing on the market today as they are the big movers in the last few days. Rio and BHP ADRs up over 3%. New Crest and Lihir are set to offer support and Newmont was up over 60% in US. Gold price up significantly as well. Energy and blue chips are likely to consolidate in this market given spike in the oil price, we are expecting to open lower this morning and we expect to see profit taking.
Should you have any questions about the information provided within this presentation, call the equities and office desk or CFD advising desk on the numbers provided and as always, trade carefully.
Monday 22nd September 2008 Cube Morning Wrap
Monday, September 22nd, 2008Presented by Michael Hevern
Cubefinancial
Click here to watch the presentation.
or
Click here to download the mp3 audio recording (1021Kb).
Transcriptions below:
******************************************************************************
Good morning and welcome to Cube Wrap for Monday the 22nd of September. I am Michael Hevern for Cube Financial.
The information provided within this presentation is general advice only and you should consult the services of a financial professional in order to ascertain whether the information is applicable to your investment strategies and risk profile. Again, it is general advice only.
Well, the Dow continued its recovery on Friday night up another 4% after the US government handed down a bailout package in the order of 1 trillion dollars and 800 billion dollars set aside to accommodate the toxic mortgage issues that are prevailing in the US and also another 400 billion dollars put aside to insure the market money funds. So that there is continued liquidity in the market.
There was a ban on short selling which helped all the financials and we saw the biggest 2-day gain in 20 years. The index was down 0.3% for the week and down 14% here to date that would be loss with 1000 point trading range that was sold off during last week.
In the NASDAQ we saw that recovered 3.4% up 0.6% for the week. You can see that it is fairly strong there even though there was great support last week and we are back into middle higher than the trading range that we see that prevail this year. In the US stocks AIG which was up 43% which is placing AIG in the day up 3.7 on Friday and it was up 5% for the week.
Other big movers in the US included the gold stocks index which was up nearly 4% and the oil stocks index up almost 8% on Friday. We saw Newmont up 5.5%, BHP and Rio up 9% and 14% respectively and we also saw the steel stock up 9.5% and US steal up. Energy stocks were also up Exxon up 2.4% and Chevron up 6% on the session, so pretty good price move there. It was up two for every one declined. We saw SP500 up 4.03% as well for the day.
In the UK, we saw that market have its biggest one-day gain ever since the session which was back about 24 years ago, up 8.8% on the session above the 5000 level, 5000 to 5300. Again, there is story about financials surging with all banks. All banks up between 17% and 32% with Lloyds up 20% and again over there, there was a ban on short selling for the financials. Insurance stockholders have recovered substantially as [well as prudential and mutual levels between 11% and 23% on the session.
The energy stocks also had a good day with BG, Shell, and BG group all up around between 6% and 12% on the session. Retailers did have a pretty good week last week, continue their games and up another between 6% to 12% Friday night.
Across in Europe, we saw the European shares with DAX up 5.6% and the CAC up 9% on the session. The move on the CAX was up the biggest gain in 20 years and the Volkswagen which was sold down and we saw the Nikkei up 3.7%. It looks like it is set to bounce off that support level there. We saw the banker and exporters recover substantially as the dollar appreciated against the Yen.
We saw Mitsubishi and Sumo up around that 9.5% on the session and exporters such as Canon up 8.6% and it the Industrial make Fanuc up 12% on the session. Elsewhere in Asia, we saw Hong Kong put on 10% and Shanghai similarly 9.5%, fairly good price bounced across all world markets.
Oil up above the 100-dollar mark, shifting around the 103-dollar mark there. You see that critical level is 100 dollars and hope that is can hold that so it is same around there, but we have broken that down in line which has prevailed for the last 3 weeks looking for support there. On the Gold front this was around 900 dollar last week and settled down around 880 dollars at the end of the weekend.
Base metals were up on the free end as well with copper up 4.6%, lead up 5.3%, zinc up 3.8%, aluminum up 1.6, and nickel up 1.3. We also saw lot of the commodities up around about the 3% mark this week, up 3.6 and going up 2.8%.
On the ASX, we set for further recovery there the SPI was up over 133 points and you can see there we did raise for the last week since the holding above that at the start of this week. The big story will be the ban on short selling on the bankers and insurers. Stock with RIO and BHP up substantially in the ADRs. It was up 9% and 14% respectively so we should see a bounce there as well.
The gold stocks should hold there own and Newcrest and Lihir should at least consolidate. We did see Newmont up 5.5% so that’s a good lead for those stocks, energy stocks should be bound by the higher oil price and we will be interested to see Macquarie continuing to recovery it has recalled a lot of it’s stock that has been out there for short selling so we should see a sustained move there. We will definitely open higher today and you will expect to see some market changes especially in the insurers and banks.
Should you have any questions about the information provided within this presentation, please call the equities options desk or the CFD advising desk on the numbers provided, and as always trade carefully.
Friday 19th September 2008 Cube Morning Wrap
Friday, September 19th, 2008Presented by Michael Hevern
Cubefinancial
Click here to watch the presentation.
or
Click here to download the mp3 audio recording (981Kb).
Transcription below:
*****************************************************************************
Good morning and welcome to Cube Wrap for Friday the 19th of September. I am Michael Hevern for Cube Financial.
The information provided within this presentation is general advice only and you should consult the services of a financial professional in order to ascertain whether the information is applicable to your investment strategies and risk profile. Again, this is general advice only.
Well, the DOW had a recovery overnight based on the fact that there is boosted liquidity with government making available progress to the financial institutions to ensure that the liquidity of the market does not freeze up. We also saw changes in the short term intervals. We see today, we have the intraday chart before us and you could see that the 11000 is the key level and it peaked to just above that on the close.
The financials were in the news again. Morgan Stanley up 3.7% while Goldman Sachs was down just under 6%. We saw in news that they are saying that Morgan Stanley and Goldman seem to merge with a bank in order to insure the financial viability going forward to the institutions that have supplied quite well of better in these financial turmoil that is engulfing the US at the moment.
We have also seen a recovery in AIG. It was up 31% overnight and BHP ADRs were up 5% and RIO up 2% on the session.
The gold stocks pulled back quite a bit. The gold stocks index was actually up 1%, but Newmont was down 8% after being up over 15% on the previous session and we saw Chicago move up 11% on the session, so pretty good price recovery there on the US market.
In the NASDAQ, we saw that recover well and it recovered above the pit point to the 2200 level as this was squeezed out of the short selling changes in this rule.
Apple was up 5%, Microsoft up 2.8%, and Cisco up 4.5% on the session. So, good rally there across the board as well. We see in the UK, FTSE was down 0.7%. It is still below that key psychological level of 5000. The big news in the UK was the fact that Lloyd is merging with HBOS and that was seen as positive and banks rallied on the back of that and we also saw that the retail sector in the UK seems to be findings some support as well. So Lloyd closed down about 1% at the end of the session, but there were up early, Barclay’s stocks 5.3% on the session. London stock exchange had an 8% on the session, so that market has something to do or may impact ASX here and may be a positive lead there.
We saw insurance stocks were still under the pump with insurer and all mutual down 15% and the retailers were up on 3.7% and another 2.3% on the session on the previous day.
Elsewhere in Europe, we saw the DAX and the CAC, the DAX was flat for the session and the CAC was down 1% on the session. The activity over there was all to do with the banks as well.
In Asia, we see the NIKKIE down 2%, but did recover today who sold off on the back of financials and the exporters coming under pressure there. We saw Hong Kong close lately in China, close above that 1.7%. We saw Mitsubishi and Sumo down around about 4% on the session and Honda only were down 3.3% and 7.5% respectively on the back of seeing a side of growth in the world economy going forward.
Oil held its price there and you can see that it has broken above the downtrend lines, so you can expect to be the consolidation at these levels will need to cross the 500 dollars in order to signify the changing trend there or confirm the changing trend there.
There are still issues with inventories over there and of course we saw gold goes through a huge volatile night over the climate that has happened in early session up to 916 dollars announced, but close to that 61 at the end of the session. So you can see there has been enormous investors there early on and close down on the back of the US government coming out and suggesting that the freeing up liquidity and also changing in the level on the short selling.
Elsewhere in the commodities market, we saw silver up 8% on the session, copper down 0.6%, lead up 1.3%, zinc and aluminum down around about 0.5% and nickel down almost 2%. So, the stock commodities pulled back significantly from the previous session gains retracing just at all of them with wheat and corn down across the 5% on the session.
In the ASX, we saw a sell off yesterday at close across the broad and you would expect to see recovery today. I think you would look definitely you will be across the board you look at the large caps and look at stocks which do not have the lot of debt on the balance books. SPI was up 126 points overnight, so that should be a good lead for out market.
Expect the gold stock here to consolidate big gains of yesterday. We saw Newcrest here up around about between 10% and 15% at various stages throughout the day requiring a sold off mutually yesterday and there was a lot of margin calls toward the end of the day beginning at above 20% down for the session and closing around that 26 dollars and that’s after being up as high as 98 dollars only mid way through last year. Again, the weakening US dollar is the story going forward and that will impact commodity prices and we expect high today and see some decent bargain hunting especially early on in the day. Remember this Friday and we do have an enquiry in the US tonight.
Should you have any questions about the information provided within this presentation, please call the equities options desk or the CFD advising desk on the numbers provided, and as always trade carefully.
FAQs – MDS Reflections September 2008
Thursday, September 18th, 2008Will provide a list of frequently asked questions and answers to help our customers.
Why are the current month s contracts not appearing on my options screen?
On the day of expiry, the current options contracts will move to the bottom of the options list.
How do i know what CFD codes are available in the Bourse?
Go to http://asxcfd.boursedata.com.au/ to view all the available CFD codes available.
When I start up my Market Analyser, it doesn’t display all the icons across the top?
Go to Windows, on the drop down menu and left click on Lock Toolbar to unlock it. Next to where icon should be, there will be a vertical line that you can drag left or right while holding down the left mouse button. Once you can see all the icons, go back to Windows and left click on the Lock Toolbar to lock the icons.
Sometimes my Market Analyser doesn’t close down properly and I want to load it without all my charts?
You can load your Market Analyser in safe mode. To do this, double left click on the Market Analyser icon, then straight sway after hold down the left shift key until it loads completely. This will load it in safe mode with no charts or watchlist etc.
