Financial Trader Online Trading Forums

Home Builders

tradingadvantagetm — Thu, 17 May 2012 04:14:16 GMT

Greece may soon be back dealing in drachmas adrift alone in the Adriatic, JP Morgan and the other banks continue to be loosely regulated trading liabilities, and job growth continues to be anemic at best.

But fear not, the media trumpeted the headline this morning that homebuilder confidence in the U.S. rose more than estimates according to the National Association of Home Builders Index. While this NAHB release couldn�t bring the market higher on the day, the market had been in positive territory earlier in the day.

But really, who cares?

Like most of the economic that we are subjected to, not only are the numbers interpreted incorrectly, the data is mostly meaningless.

The NAHB home builder�s survey uses "a diffusion index on a scale of 0 to 100, based on a survey of builders. The index has 3 components--current sales, model home sales traffic, and builder expectations for 6 months hence rated on the basis of good, fair, or lousy. The most important of these is traffic, which reflects future sales. A reading below 50 means that more builders rate conditions as poor or very poor, rather than good or very good.

The HMI rose from 13 in June to 15 in July. That's the "good" news, but there was a catch. As bad as that was, the gain was based mostly on a big jump in the expectations component which surged from 15 to 22.

Now I ask you; how would a home builder have any clue what conditions would be like 6 months from now? Right. They don't. True, the present conditions index rose from 13 to 15, but that is not material in the overall scheme of things. The key number is still traffic, because without traffic you can't have sales, and weak traffic foreshadows weak sales.

Weak numbers on top of more weak data. The more things change, the more they stay the same.

Trade well and follow the trend, not the so-called �experts.�

Larry Levin
President & Founder - TradingAdvantage

Free John Murphy Video: Applying Technical Methods to Today's Trading (90 Min)

Admin — Mon, 14 May 2012 09:31:08 GMT

Let John Murphy guide you through his thought process in selecting markets to trade, in this Free 90 min video. This classic video is still one of the most insightful you are ever going to see on investingand trading.

Among Other Free Videos Available

Using Pattern Probability to Trade with the Trend: Curtis Arnold
Market Wizard Insights: Jack Schwager
Options- Learn The Greeks: Ron Ianieri

Watch John Murphys "Applying Technical Methods to Today's Trading" for Free.

UK Markets Trading Forums 14 May 2012

Kenny — Mon, 14 May 2012 06:53:47 GMT

UK market news

HSBC announced the sale of its businesses in Colombia, Peru, Uruguay and Paraguay to Colombian banking entity Banco GNB Sudameris SA, which is controlled by the Gilinski Group, for $400M in cash.

Polymetal International said it has sold 100% of Amikan Holding Limited, "which owns the Veduga gold deposit in the Krasnoyarsk region of the Russian Federation" to Canada's Polygon Gold Inc, adding: "Polymetal received consideration of $20M in cash and 750 ordinary shares of Polygon resulting in an 81.8% equity ownership in Polygon."

Serco Group issued an Interim Management Statement: "The Group is on track to meet expectations for 2012: we continue to expect another year of strong total revenue growth, including further good organic growth, together with an Adjusted operating margin increase similar to 2011."

Firstgroup announced the appointment of Chris Surch from Shanks Group as Group Finance Director.

Lonmin reported 1H profit before tax of $18M vs $159M a year earlier on revenue of $751M, down 19.3%.

Rank Group said it has conditionally agreed to buy Gala Casinos from Gala Coral Group Limited for �205M in cash.

Diploma Plc posted 1H results: "Group revenue increased by 13% to �127.1M (2011: �112.6M). Adjusted operating profit, which is before acquisition related charges, increased by 19% to �26.4M (2011: �22.1M) (...) Adjusted profit before tax increased by 20% to �26.2M (2011: �21.9M)."

Bwin.Party Digital Entertainment: 1Q results expected.

Royal Dutch Shell and PetroChina have not experienced any cost overrun in their Australian LNG-export JV and are keeping the business plan reported Dow Jones citing a Shell executive. Separately the Co and Chevron Corp have obtained rights to develop shale gas fields in Ukraine according to the country's prime minister interviewed by Euronews.

BHP Billiton sees the possibility of a write-down on its US shale gas assets according to the Co's petroleum head cited by Reuters.

Lloyds Banking Group is said to be concluding a deal to sell branches to the Co-operative Group reported the Sunday Telegraph.

Auto & Parts utilities and food & beverages shares gained most in London on Friday.

Food & Beverage: Associated British Foods (+2.68% to 1228p), Unilever (+1.84% to 2102p) and Tate & Lyle (+1.01% to 700.5p) reached a new 3-month relative high against the FTSE 100.

Real Estate: Hammerson (+3% to 429p), British Land (+2.87% to 506p), Derwent London (+2.41% to 1784p), Land Securities (+2.25% to 751p) and Shaftesbury Plc (+2.24% to 526p) reached a new 3-month relative high against the FTSE 100.

Retail: Sainsbury (+1.94% to 315.4p) and Next (+1.59% to 3000p) closed at a 3-month relative high against the FTSE 100.

Technology: Telecity Group (+4.5% to 800.5p) reached a new 3-month relative high against the FTSE 100.

Travel & Leisure: Carnival (+2.04% to 2002p), Intercontinental Hotels (+1.28% to 1505p) and Compass Group (+1.18% to 642.5p) closed at a 3-month relative high against the FTSE 100.

Utilities: Severn Trent (+3.11% to 1693p), Centrica (+2.32% to 317.4p), United Utilities (+1.9% to 642p), National Grid (+1.87% to 682.5p), Pennon Group (+1.84% to 746p), Scottish & Southern Energy (+1.67% to 1343p) and Drax Group (+0.88% to 571.5p) reached a new 3-month relative high against the FTSE 100.

European Markets Trading Forum Week 14 May 2012

Kenny — Mon, 14 May 2012 06:52:06 GMT

European Markets

Germany / Austria

11:30 CET: Germany to sell bills

Celesio posted 1Q adjusted net income up 4.7% YoY to E53M and adjusted EBITDA up 5.1% YoY to E140M on revenue of E5.6B, up 2.5%. The Co confirmed its FY12 earnings outlook adjusted EBITDA being at least at the level of FY11.

Aurubis reported 2Q net income down 30% YoY to E111M and EBT down 30% to E156M on revenue of E3.6B, down 2%. Looking ahead the Co said: "Based on the very good half-year result and the generally stable outlook for our significant markets, we currently expect the overall annual result to be at the prior-year level."

Basic Resources: Kloeckner & Co (-1.44% to E8.28) and Salzgitter (-1.94% to E36.58) closed at a 3-month relative low against the Dax.

Chemicals: Symrise (+3.8% to E23.5) reached a new 3-month relative high against the Dax.

Industrial Goods & Services: GEA Group (-0.32% to E21.6) and Thyssenkrupp (-1.35% to E16.39) reached a new 3-month relative low against the Dax.

Real Estate: Deutsche Euroshop (+3.3% to E28.93) closed at a 3-month relative high against the Dax.

Telecommunications: Deutsche Telekom (+1.09% to E8.9) closed at a 3-month relative high against the Dax.

France

Renault said alliance partner Nissan Motor's January-March results showed a E230M contribution to the Co's earnings.

EDF announced the European Commission has authorized without conditions its takeover of Edison.

Alstom said Lille Metropole has selected it for an over E250M contract to modernise Line 1 of the city's metro.

Vivendi said it has refinanced two credit lines totaling E2.7B using a new 5-year E1.5B credit line. The Co is expected to release its 1Q results.

TF1: 1Q results expected.

Total's Elgin platform gas leak could be plugged within a few days depending on weather according to the Co's CEO cited by Dow Jones.

15:00 CET: France to sell bills

Food & Beverage: Pernod-Ricard (+1.7% to E79.74) and Remy Cointreau (+0.27% to E84.95) closed at a 3-month relative high against the Cac 40.

Health Care: Essilor (+2.86% to E69.51) and bioM�rieux (+0.52% to E63.33) reached a new 3-month relative high against the Cac 40.

Media: Eutelsat Communications (-10.89% to E23.52) closed at a 3-month relative low against the Cac 40.

Personal & Household Goods: L'Or�al (+2.38% to E91.75) and Bic (+0.93% to E83.79) closed at a 3-month relative high against the Cac 40.

Retail: Casino (+2.38% to E74.03) closed at a 3-month relative high against the Cac 40.

Travel & Leisure: Accor (+1.14% to E26.09) closed at a 3-month relative high against the Cac 40.

Spain / Portugal / Greece

10:30 CET: Spain to sell bills

Banks: Banco Popular Espanol (-0.74% to E2.15), Banco De Sabadell (-0.92% to E1.62) and Bankia SA (-1.62% to E2.07) closed at a 3-month relative low against the Ibex.

Retail: DIA (+4.91% to E3.76) reached a new 3-month relative high against the Ibex.

US Markets Trading Forum Week 14 May 2012

Kenny — Sat, 12 May 2012 19:43:05 GMT

I just published 3 new content pages that you may find interesting.

It is a 3 part Introduction to J.M Hurst trading cycles analysis and Hurst trading methods by Christopher Grafton, Author of "Mastering Hurst Cycle Analysis.

Parts 1 and 2 are an introduction to Hurst cycles analysis and part 3 is a complete Hurst Cycles analysis of the weekly chart for the S&P500 index.

1) An Introduction to JM Hurst cycles analysis
2) Hurst analysis methods
3) A Hurst Cycles Analysis of the S&P 500 Index weekly chart

I need advice

Zasypkina — Thu, 10 May 2012 15:40:50 GMT

Good evening!

Any suggestions on how much money I have to have just to start stock market trading? What is the fewest amount?

Still too Big to Fail

tradingadvantagetm — Thu, 10 May 2012 06:26:05 GMT

While the sobering news from Europe has finally started to weigh on US stocks, I thought I�d add gasoline to the fire and remind everyone of the twisted morass that�s our own domestic financial situation.

The top 5 banks in the US now account for a massively disproportionate amount of the derivative risk in the financial system. Specifically, of the $250 trillion in gross notional amount of derivative contracts outstanding (consisting of Interest Rate, FX, Equity Contracts, Commodity and CDS) among the Top 25 commercial banks (a number that swells to $333 trillion when looking at the Top 25 Bank Holding Companies), a mere 5 account for 95.9% of all derivative exposure.

The top 4 banks: JPM with $78.1 trillion in exposure, Citi with $56 trillion, Bank of America with $53 trillion and Goldman with $48 trillion, account for 94.4% of total exposure. As historically has been the case, the bulk of consolidated exposure is in Interest Rate swaps ($204.6 trillion), followed by FX ($26.5TR), CDS ($15.2 trillion), and Equity and Commodity with $1.6 and $1.4 trillion, respectively.

And that's your definition of Too Big To Fail right there: the biggest banks are not only getting bigger, but their risk exposure is now at a new all-time-high.

Good thing Backstop Ben and Congress are always ready with their catcher�s mitt.

Trade well and follow the trend, not the so-called �experts.�

Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banking mafia.

_______________
Larry Levin
President & Founder - TradingAdvantage

European Markets Trading Forum Week 07 May 2012

Kenny — Mon, 07 May 2012 06:57:16 GMT

European Markets

Germany / Austria

ECB: Publication of the MFI interest rate statistics, Publication of the Harmonised Competitiveness Indicators, 10am CET.

Germany's finance ministry is said to expects 2012 and 2013 tax revenues to be higher than previously projected reported weekly Der Spiegel.

Bayer said it has challenged an Indian patents office order that allows domestic rival Natco Pharma to sell a cheap generic version of the Co's liver and kidney cancer drug Nexavar in the country.

Air Berlin will raise ticket prices to offset costs for a German air travel tax and surging fuel prices reported Austrian newspaper Kurier citing the Co's CEO.

Porsche AG: results expected.

Automobiles & Parts: Daimler (-3.5% to E39.29) and Rheinmetall AG (-5.36% to E38.94) closed at a 3-month relative low against the Dax.

Basic Resources: Salzgitter (-4.11% to E37.23) and Kloeckner & Co (-4.55% to E9.33) closed at a 3-month relative low against the Dax.

Industrial Goods & Services: Thyssenkrupp (-2.76% to E16.9) reached a new 3-month relative low against the Dax.

France

Socialist Francois Hollande won the French presidential election defeating incumbent Nicolas Sarkozy.

15:00 CET: France to sell bills

Wendel reported 1Q sales up 15.1% YoY (+6.4% organic growth) to E1.5B.

Scor announced shareholders have approved its 2012-13 share buyback program of up to 10% of share capital at prices up to E30 per share.

Ciments Fran�ais posted 1Q net income of E1M vs E142M (including E109M corresponding to businesses sold in Turkey) and recurring EBITDA down 13.2% to E128M on revenue of E892M, down 7.9%. The Co confirmed its target of making 2012 operating results in line with those of 2011.

Euro Disney reported a 1H net loss of E101M vs a net loss of E83M a year earlier on revenue of E552M vs E557M.

Automobiles & Parts: Peugeot (-4.32% to E8.33) and Faurecia (-4.52% to E15.33) reached a new 3-month relative low against the Cac 40.

Basic Resources: Imerys (-3.78% to E39.16) and Eramet (-5.08% to E91.92) reached a new 3-month relative low against the Cac 40.

Industrial Goods & Services: Legrand (+2.54% to E26.23) closed at a 3-month relative high against the Cac 40.

Insurance: Axa (-1.9% to E9.66) closed at a 3-month relative low against the Cac 40.

Media: Lagard�re (+2.77% to E23.55) reached a new 3-month relative high against the Cac 40.

Retail: Carrefour (-2.95% to E14.32) closed at a 3-month relative low against the Cac 40.

Technology: Alcatel - Lucent (-3.03% to E1.12) reached a new 3-month relative low against the Cac 40.

Spain / Portugal / Greece

Greece's New Democracy party and Socialist Pasok party did not get enough seats in Parliament in Sunday's national elections to form a coalition government, while the left-wing coalition Syriza, which opposes the government's austerity measures, has become the second-largest party in Parliament, according to projection by the Interior Ministry.

Banco Comercial Portugues: 1Q results expected.

Oil & Gas: Repsol (-1.73% to E13.65) reached a new 3-month relative low against the Ibex.

UK Markets Trading Forums 07 May 2012

Kenny — Sun, 06 May 2012 22:55:53 GMT

Looks like the Ftse 100 gave a major trend break signal on Friday....

Attachment 1067
Ftse 100 Trend Line Analysis

Attached Images

FTSE-100-Technical-Analysis-Chart-040512.png‎ (39.6 KB)

US Markets Trading Forum Week 07 May 2012

Kenny — Sun, 06 May 2012 16:16:54 GMT

Kennys Elliott Wave analysis for the week commencing 07 May is now available for viewing for subscribers!

Kennys Elliott Wave Analysis (Previously The Insider Trader Forums)

You can view the archives of previous weekly reports here......Insider Trader Forums Archives

If you would like to upgrade your membership, please go to your account settings page and choose 'Paid Memberships' to become a member of Kennys Elliott Wave Analysis Forums.

Chris Vermeulen: Equities Fight to Hold Up While EU & US Data Give Mixed Signals

Kenny — Thu, 03 May 2012 14:50:26 GMT

Investors and traders just can’t seem to catch a break when it comes to economic news. For example Tuesday in the United States we saw strong ISM manufacturing numbers which surprised the market. The numbers were way above expectations and it triggered a feeding frenzy in US based investments like stocks and the green back.

The following session Italy reported terrible PMI and unemployment rate numbers which took most of the wind out the European and US stocks. One day the data is great, next day it’s bad…

The strong numbers in the US have everyone including myself thinking that this week’s jobless claims (unemployment rate) will be down. If this is the case then we will see stocks jump along with the dollar, much like what we saw trader do last Tuesday which is what Jim Cramer says best – BUY BUY BUY.

Normally we do not see the dollar index rally along with stocks but if EU continues to show signs of weakness then it is very likely the dollar and equities inverse relationship could decouple. Reason being investors around the globe will focus their money on the more stable US investments like the dollar and US stocks.

You can learn how to trade economic news with my free Economic Indicator Trading Tool: http://www.thetechnicaltraders.com/e...indicators.pdf

The Dollar is Trading at a Major Tipping Point – Weekly ChartThe dollar index is something that I watch very closely on a daily basis. Focusing on the weekly and 8 hour charts I look for support and resistance levels along with price patterns.

As you can see from the weekly dollar chart below, a large bull flag has formed. This pattern typically means higher prices and in this case the price target is between the 86 and 88 level.There are few wild cards to toss into the game on what will unfold next:

Currency manipulation seems to be strong and if the US wants a low dollar value then it’s likely it will stay low. This bodes well for stocks and commodities.
Depending on what happens and how things unfold in Euro-land the dollar/stock relationship could decouple meaning they could start to rise together. If we get neutral economic data out of the EU and positive data out of the US it will likely boost the value of stocks and the dollar. But strong negative data out of the EU will more than likely just sent the dollar higher and spooking investors and triggering a selloff in stock prices.

Dollar Index 4 Hour Chart
I find the dollar index to be a great trading tool in helping me time short term reversals in the equities market.Taking a look at the 8 hour chart below you can see recurring bullish falling wedge patterns. The most recent brake out was this week and I anticipate the 79.50+ levels to be reached in the near term. If the dollar does continue to move higher then I expect sideways to lower stock prices for a couple more sessions.

That being said, the mixed economic data between the US and EU is going to cause this scenario to be unpredictable. Depending on the jobless claims this week stocks could actually rally while the dollar moves higher. Unfortunately, this week’s mixed data does not provide any trading opportunities that I feel comfortable making.

Mid-Week Market Conclusion:
In short, I feel a higher dollar is likely to happen. As for stock prices, well they are more of a wild card at this time but my analysis slightly favors higher prices.

To quickly touch on precious metals, they are likely to be under pressure for a few sessions simply because of the rising dollar.

I hope my analysis helps paint a picture of what to expect in the coming days.

Happy Trading,
Chris Vermeulen
www.GoldAndOilGuy.com – ETF Trading Analysis & Alerts

Trading Tip #16: Buyers or Sellers

tradingadvantagetm — Wed, 02 May 2012 06:21:19 GMT

A question I often receive is, "How can there be more buyers or sellers at one price? Isn't there a buyer for every seller and a seller for every buyer?"
The answer is yes, but people are forgetting one important thing. There is a bid and an ask (or offer), and only one of them can be traded at a time.

A bid is an expression of willingness to buy at a price; an ask (or offer) is an expression to sell.

If the ES is trading at 1200.50, the bid is either 1200.25 or 1200.50. The answer depends on which way the market has just traded. Let's make it easy and simply say the ES is between 1200.25 & 1200.50, making the bid 1200.25. In order for the market to move from 1200.25 to 1200.50, someone must pay up to get filled.

You may not be in a hurry and attempt to wait to buy 1200.25, but that will usually only happen when the bid/ask drops to 1200.00 & 1200.25 and you are actually filled on the ask.

If you are trying to buy and really want to get filled, you must pay up at the offer or risk missing the trade. Conversely, if you really want to get filled on a sale, you must hit the bid, or reach down to get filled.

Sure, there is someone on the other side of the trade, but without you choosing to reach up and pay the offer the market stands still. Therefore when trades are executed at the offer it is said to be done by the buyers even though there are sellers at that price taking the other side.

Every buy will be filled on the offer and every sell will be filled on the bid, period.

Let's say we once more have a number of 1200.50 and we see that over time (sometimes just a few seconds) the fills were 100 x 1300. We can say that there were 1200 more buyers than sellers at 1200.50 because of how traders reacted to the bid/ask spread when it was at 1200.25 x 1200.50 and higher at 1200.50 x 1200.75 (called the spread.)
When the market was at the lower spread, 1300 buyers reached UP to pay the 1200.50 offer.

When the market was at the higher spread, 100 sellers reach DOWN to sell the 1200.50 bid.
When the spread traded around this price range there truly were more buyers than sellers at 1200.50.

Understanding bid and ask can open up other realms of technical analysis.

There are some traders who will look at the bid and ask order flows to try to get clues to potential movement in the market based on what buyers and sellers are doing. This is often referred to as reading order book flow or depth-of-market.

If you look at the number of orders for each bid and ask around the current market price you can see the probable number of transactions available at those levels. Reading this information is the key to certain kinds of volume based trading systems and other trading methods that follow the book order flow.

Best Trades to You,

Larry Levin
Founder & President - Trading Advantage

UK Markets Trading Forums 30 Apr 2012

Kenny — Mon, 30 Apr 2012 07:16:19 GMT

UK market news

Aberdeen Asset Management posted its 1H results: "Profit before taxation for the period was �124.3M (2011: �109.1M). Underlying profit, stated before amortisation of intangible assets, was �162.2M compared to �142.8M in 2011. This represents underlying earnings per share, on a diluted basis, of 10.43p, (2011: 8.91p). The Board has decided to pay an interim dividend of 4.4p per share, an increase of 16% on the 2011 interim payment. (...) Assets under management have increased by 8.7% (to �184.7B) compared to the value at the end of our last financial year."

WPP announced a strategic investment, via its wholly-owned operating unit Kantar, of $1.2M for a minority stake in Enprecis Inc, "a company which uses a proprietary online platform to collect and analyze data about consumer experience for the automotive industry".

Cobham said it has obtained a $39M US Navy contract to manufacture the AN/ALQ-99 Low Band Transmitter-Antenna Group for US Navy and Marine Corps EA-6B and EA-18G electronic warfare aircraft.

Wood Group (John) Plc announced its Wood Group Mustang JV has been awarded a topsides engineering contract by Samsung Heavy Industries Co Ltd for the semi-submersible central processing facility (CPF) in the Ichthys field development project off the northwest coast of Australia.

Stagecoach Group said its unit Stagecoach South Western Trains Ltd has agreed with Network Rail Infrastructure Ltd to form an alliance to deliver rail services in the south and south-west of England.

Hunting Plc said it has agreed to sell Hunting Canadian Airport Holdings Ltd and its subsidiaries including Field Aviation Company Inc to Amavco Inc for �7.5M.

Prudential: Nigel Rudd, chairman of the UK airports operator BAA and engineering group Invensys, and Glen Moreno, chairman of Pearson, have been short-listed for the giant insurer's chairman post, reported the Sunday Times.

Construction & Materials financial services and banks shares gained most in London on Friday.

Chemicals: Croda International (+1.83% to 2282p) closed at a 3-month relative high against the FTSE 100.

Financial Services: Hargreaves Lansdown (+3.24% to 526.5p) closed at a 3-month relative high against the FTSE 100.

Industrial Goods & Services: Smiths Group (+2.57% to 1078p) and Melrose (+1.89% to 441.6p) reached a new 3-month relative high against the FTSE 100.

Oil & Gas: Wood Group (John) and Hunting Plc (+0.95% to 954p) closed at a 3-month relative high against the FTSE 100.

Real Estate: Shaftesbury Plc (+2.57% to 518p), Land Securities (+1.72% to 739.5p) and Hammerson (+1.54% to 422.8p) closed at a 3-month relative high against the FTSE 100.

Retail: Debenhams (+1.17% to 82.25p) closed at a 3-month relative high against the FTSE 100.

Travel & Leisure: Carnival (+2.5% to 2050p) closed at a 3-month relative high against the FTSE 100.

European Markets Trading Forum Week 30 Apr 2012

Kenny — Mon, 30 Apr 2012 07:14:14 GMT

European Markets

Germany / Austria

Adidas announced 1Q net income up 38% YoY to E289M and operating profit up 30% to E409M on revenue of E3.8B, up 17% (+14% on a currency-neutral basis). The Co said: "Management also announces that commercial irregularities discovered at Reebok India Company, in India, will likely affect the consolidated financial statements of the Adidas Group. The currently estimated maximum negative impact could be up to a pre-tax amount of E125M. (...) As these irregularities have been deemed to have occurred prior to the 2012 financial year, the Adidas Group might have to restate prior-year consolidated financial statements in line with the requirements of IAS 8." Looking ahead the Co added: "Group sales for the full year are now expected to grow at a rate approaching 10% on a currency-neutral basis (previously: mid- to high-single-digit). Net income attributable to shareholders is expected to increase at a rate between 12% and 17% (previously: between 10% and 15%)."

Siemens is considering floating up to 75% of its light bulb unit Osram in the autumn according to the Co's CEO cited by German weekly Welt am Sonntag.

Deutsche Telekom and services labor union ver.di announced a new wage agreement, with 6.5% pay rise coming in 2 years, for appx. 17,000 employees working at the Co's head office in Bonn.

Erste Group Bank posted 1Q net income up 7.8% YoY to E347M and ROE improved to 11.2% from 9.6% in 1Q. Net interest income rose 2.7% to E1.3B while net fee & commission income declined 5.5% to E430M. Core tier 1 ratio rose to 10.2% at end-1Q from 9.4% at end-2011 and the non-performing loans ratio was up to 8.8% from 8.5%.

Automobiles & Parts: Continental (+2.99% to E74.98) and BMW (+1.24% to E72.13) reached a new 3-month relative high against the Dax.

Industrial Goods & Services: MTU Aero Engines (+2.14% to E64.33) closed at a 3-month relative high against the Dax.

France

15:00 CET: France to sell 91-day, 154-day, 364-day bills

Renault targets starting car production in China with local partner Dongfeng Automobile Ltd by end-2015 according to the Co's CEO cited by Dow Jones.

Technip announced it has obtained a front end engineering design (FEED) contract from BP Exploration & Production Inc for the design of a Spar hull and mooring systems for the Mad Dog Phase 2 Project in the Gulf of Mexico.

Faurecia announced the pricing of E250M June 2019 Notes.

Sechilienne-Sidec Group posted 1Q revenue up 23.2% YoY to E96M.

Industrial Goods & Services: Rexel (+2.56% to E16.02) and Safran (+1.88% to E28.53) reached a new 3-month relative high against the Cac 40.

Insurance: Scor (+4.33% to E20.47) closed at a 3-month relative high against the Cac 40.

Media: Lagard�re (+2.78% to E23.12) closed at a 3-month relative high against the Cac 40.

Personal & Household Goods: Bic (+4.4% to E83.47) closed at a 3-month relative high against the Cac 40.

Technology: AtoS (+3.66% to E48.11) closed at a 3-month relative high against the Cac 40.

Spain / Portugal / Greece

Acerinox said 1Q net income dropped 56.7% YoY to E29M and EBITDA down 36.1% to E97M on sales of E1.2B, down 12.9%.

Basic Resources: Acerinox (+1.72% to E9.38) reached a new 3-month relative high against the Ibex.

Industrial Goods & Services: Abertis Infraestructuras (+2.33% to E11.88) closed at a 3-month relative high against the Ibex.

Telecommunications: Portugal Telecom (+2.15% to E4.04) closed at a 3-month relative high against the PSI 20.

US Markets Trading Forum Week 30 Apr 2012

Kenny — Sun, 29 Apr 2012 19:02:11 GMT

Kennys Elliott Wave analysis for the week commencing 30 April is now available for viewing for subscribers!

Kennys Elliott Wave Analysis (Previously The Insider Trader Forums)

You can view the archives of previous weekly reports here......Insider Trader Forums Archives

If you would like to upgrade your membership, please go to your account settings page and choose 'Paid Memberships' to become a member of Kennys Elliott Wave Analysis Forums.