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I dunno what got into investors yesterday, 72 trades was way above previous knowns, so something odd occurred.
Whatever the 55p fall in the shares seemed well overdone on sells just outpacing buys on the session though total volumes at nearly 42,000 was a big increase on Tuesdays c.11,300, (11) trades.
I topped up but not enough to move my avc dial. Be interesting if today sees anything approaching yesterday's deals and vols or was it an out-of-the-blue one off event instigated by the MMs?
I find that difficult to believe but something happened! Perhaps today will reveal the cause of all the excitement?
DJ +76 (38,661)
SP +26 (5105)
NS +120 (18,018)
R2 +4 (1302)
WTI $79
10ytb 4•122%
-----------
MSCI(W) +20 (3357)
Gold Bugs +4 (225)
----------------
Latest :- Vix 14. Brent $83.
Gold $2155. Copper 3•880.
Palm $1012. Silver $24•265.
$1•273. €1•168.
FF +2. DF -26.
Morning all.
Even stranger things (geddit?) well maybe not. A total of 50 trades goodness me anyone would think the bod had a word to say....OK that's wishful thinking I know. Regardless we just go up and down within the spread great for the MMs but pointless for you and me. Have a good afternoon and wait for the closing price which will be 840-870 as it has been for many weeks, so all the "huff and puff" of today has been a waste of space. That's OK by me as it mostly is in these crazy mrkts. I keep my strong buy recommend on the nos so far as I have heard nothing to dissuade me.
I haven't collated today's trade deals or vols but a quick look methinks buy volume outpaces sell and that's a signal to sell if ever I saw one.
Afternoon all.
What a strange day, 30 trades before midday...
Wall St fell on weakness in big tech as investors turned sellers of the "Mag 7" which have been driving the 500 to record highs this last 12 months at the expense of the wider market.
Apple fell to a 4 month low and the 5th day in a row on news sales in China fell 24% in the first 6 weeks of this year due to increaed competition from Huawei up 64%. Chinese consumers are abandoning US tech in favour of homemade products like the MATE 60 featuring a Chinese made chip.
Tesla ($181) fell 5% on news its European gigafactory near Berlin halted production after a suspected arson attack. The stock has been a very poor performer this year down 27%.
The major indexes had a bad day the Dow off 405, the S&P down 52 and the Nsdq fell 329
as investors snatched profits. The economic news was a mixed bag showing slower services industry growth in Feb but offset by new orders growing to a 6 month high signalling continued strength in the sector confirmed by the latest PMI nos.
Issues 2912
Advances 1188
Declines 1638
U/c 86
NH 167
NL 37
T/vol(bn) 4•4
-------------
DJ -405 (38,585)
SP -52 (5079)
NS -329 (17,898)
R2 -6 (1298)
WTI $78
10ytb 4•152%
-----------
MSCI(W) -25 (3337).
Gold Bugs +1 (221)
----------------
Latest :- Vix 14. Brent $82.
Gold $2126. Copper $3•850.
Palm $985. Silver $23•865.
$1•271. €1•170.
FF +9. DF +10.
Morning all.
Wall St briefly managed to turn positive in the final hour but failed to find support and ended slightly down on the day as investors paused for breath ahead of a week packed with key data.
Job (non farm) nos and Fed Chair Powells congressional testimony report coming on Wed and Thursday where traders price in a 70% chance for a June rate cut will be most watched for any signs of the economy cooling.
Investors were most active in the tech space as megacaps were sold off. Apple fell $5 to $175 after a $2bn EU antitrust fine for preventing Spotify and other music streamers from informing users of other payment options outside its App store.
Micron, Arm & Taiwan SC headed higher on back of Nvidia's mrkt cap closing above $2tn for the first time. The stock gaining $36 to $858 after $875 high. Super Micro ($1074) jumped 18% ahead of its inclusion in the S&P 500 index. SM stock has soared from c.$5bn in 2022 to over $60bn this week. MACY'S jumped 16% after Arkhouse management raised their all cash offer to $24, valuing the store at $6•6bn.
Nyse data
Issues 2921
Advances 1218
Decliners 1613
U/c 90
NH 289
NL 36
T/vol(bn) 4•8
-------------
DJ -97 (38,990)
SP -6 (5131)
NS -76 (18,226)
R2 -7 (1304)
WTI $78
10ytb 4•213%
-----------
MSCI(W) -2 (3362)
Gold Bugs +10 (220)
----------------
Latest :- Vix 13. Brent $83.
Gold $2116. Copper $3•850.
Palm $972. Silver $23•960.
$1•268. €1•168.
FF -21. DF -84.
Morning all.
MSi-DS will be at the UAS Technology Conference in London on the 16-17th April. More info available on ADVFN board.
Japan's Nikkei burst through the 40,000 barrier at mid session gaining 324 points to an intra-day all-time high at 40,315. Stocks were boosted by a weaker yen v the USD, core inflation of 2% dropping to it's lowest level in 22 months and demand for tech & computer related stocks.
While equities cont to climb new highs the BOJ keeps pumping money into a struggling economy which slipped back into a technical recession late last year. In the face of deflationary worries the BOJ has been easing credit facilities to companies and the general public in an effort to boost spending.
Currently overseas investors are the bigest volume traders on the Nikkei which ended the day up 187 at 40.098. Unexpectedly Japan slippeddown the leaderboard in the global economic 'heft' stakes relegated to number 4 behind the US, China and Germany.
On other Pacifica exchanges Sydney closed down 12 at 7745 after touching 7769 an all-time high. Elsewhere Taiwan and S.Korea closed 2% and 1% better both near record highs, while Shanghai and Hong-Kong plod along little changed. Indonesian regions are mixed with small gains in KL while Singapore and Jakarta are slightly lower on local factors.
Latest :- Vix 13. Brent $84.
Gold $2081. Copper $3•848.
Palm $1015. Silver $23•245.
$1•266. €1•167. WTI $80.
10ytb 4•212. FF -13. DF -52.
Morning all.
DJ +91 (39,087)
SP +40 (5137)
NS +259 (18,303)
R2 +6 (1311)
WTI $80
10y/tb 4•185%
------------
MSCI(W) +27 (3364)
Gold Bugs +7 (211)
----------------
Close :- Vix 13. Brent $83.
Gold $2082. Copper $3•859.
Palm $1015. Silver $23•345.
Yen 150. Yuan 7•20.
$1•265. €1•167.
Morning all.
MSI data
Wk 9
-------
840-870
L/yr 560
High 935
Low 443
-------
T/trds 70
T/vols 61,600
Buys 32,100
Sells 29,500
Buy% 52
Avtrd 885
Av£ 696
ADN 12,400
-----------
Ytd
Msi -2%
Ftse -1%
All -1%
250 -3%
Aim -2%
Good morning all.
Well, I guess that's it I'm taking the 95 offer and moving on. Can't complain made a few quid. I wish the company well wherever they go. Would have liked to be part of the next stage but a bird in the hand......
More than happy to see sellers leaving MSi for whatever pastures new they see. I'm still a buyer at sub 800 so come on let's be having you non believers!
The Nsdq hit a record high yesterday of 18,044 for the first time in 2 years propelled by investor optimism about Ai and megacap tech counters.
Nvidia posted another record close at $797 up $21 on the day and 64% up this year.
Not to be outdone the Nikkei 225 also hit a fresh record putting on 760 points to close just short of 40,000 extending the 8% surge of the previous week. The 225 blue chip index has risen nearly 20% this year outpacing every other global stock market of note.
All 3 major US indexes are on track for their 4th monthly advances as a Dept of Commerce report showed the personal consumption index climbed 0•3% in Jan as forecast and at 2•4% annually.
Initial jobless claims for the wk ending Feb 24 stood at 215,000 slightly higher than expected.
The nos pleased investors as the Dow, S&P and Small Caps all gained if only marginally. Stocks in focus inc the oddly named Snowflake ($188) sliding 21% as the cloud data storage firm projected revs below estimates as the CEO quit the company.
WW ($3•12) also known as Weight Watchers International has struggled to turn a profit fell c.20% on news Oprah Winfrey will leave the firm. The stock is down 63% ytd. Oprah Winfrey first disclosed a holding of 9•88m shares in 2015. She will donate her 1•13m shares to the National Museum of African American History & Culture.
---------------
Nyse data
Issues 2907
Advances 1987
Declines 851
U/c 69
NH 239
NL 23
T/Vol(bn) 5•2
------------
DJ +47 (38,996)
SP +27 (5096)
NS +169 (18,044)
R2 +8 (1305)
WTI $78
10ytb 4•250%
-----------
MSCI(W) +15 (3337)
Gold Bugs +5 (205)
----------------
Latest :- Vix 13. Brent $82.
Gold $2045. Copper $3•848.
Palm $1015. Silver $22•955.
$1•264. €1•168.
FF +50. DF +80.
Morning all.
DJ -23 (38,949)
SP -8 (5070)
NS -97 (17,874)
R2 -9 (1297)
WTI $78
10ytb 4•280%
-----------
MSCI(W) -9 (3323)
Gold Bugs -3 (199)
---------------
Latest :- Vix 14. Brent $82.
Gold $2035. Copper $3•852.
Palm $1015. Silver $22•700.
$1•267. €1•169.
FF +10. DF -14.
------------
Nyse data
Issues 2911
Advances 1288
Decliners 1541
U/c 82
New high 164
New lows 35
T/vol(bn) 3•8
------------
Morning all.
The Dow led the Street lower yesterday as investors await a crucial inflation report and other economic data the highlight being the release of January's personal consumption expenditure index (The Fed's preferred inflation gauge). Currently investors price in a 60% chance the Fed will cut rates in June. Other nos expected are US GDP and new jobless claims.
The 3 major indexes ended mixed the Dow slipping 96 while the 500 and Nsdq eked out small gains, the small caps pushed up 10 to 1306.
Stock of the year Nvidia slipped to $785 as investors fear a reckoning as over exuberance blows up the 'bubble' to enormous proportions.
On a lighter note, Elon Musk was forced to eat humble pie after cancelling a 4000 mini pies order at the last minute. A San Jose bakery was left $2000 out of pocket when Musk walked. However Elon paid up when news broke across social media and offered to double his order. Tesla shares at $200 a pie were left on the shelf.
Nyse data
Issues 2917
Advances 1606
Decliners 1224
U/c 87
New highs 181
New lows 22
T/vol(bn) 3•9
------------
DJ -96 (38,972)
SP +9 (5078)
NS +18 (17,791)
R2 +10 (1306)
WTI $79
10 y/tb 4•297%
-------------
MSCI(W) +6 (3332)
Gold Bugs -2 (202)
---------------
Latest :- Vix 13. Brent $82.
Gold $2030. Copper $3•838.
Palm $1035. Silver $22•400.
$1•266. €1•169.
FF +4. DF -25.
-----------
Morning all.
Apologies yesterday's update was inaccurate. Should have read Sells 21,820 and buys 16,420.
One should not read anything into the current share price falls for as most of us know its a snapshot in time. Currently the shares are trading more or less in the spread with no recent discernable direction apart from some weakness noticed around 850-870.
As long as your an investor holding longer than 5 minutes with a view to match you should do reasonably well in the years ahead but as ever you need to stay the course through good and bad times.
MSi have had more than their share of bad times! You don't believe me? Well how about the period 1992-2004 when the sp flatlined for nigh on 12 years going from 37 to 45p. A 22% increase over the period. If that ain't stagflation I don't know what is!
But that was then. The company has moved on to take advantage of the opportunities thrown up to support Ukraine in its hour of need and build on the long standing good relationship with the US Navy as outlined by the Chairman in a recent update.
So far we have secured valuable contracts from the UK MOD, US Navy and unknown Europe contacts which have boosted our profile as a company that delivers on time and on budget. That is hugely important for a small defence contractor competing with the big boys, we have to be super efficient in a sector with high barriers to entry.
I have added to my holdings in the last week and am happy to pay 900 which was the last trade dealt today on volume of 38,240, (sells 16,420 v buys 21,820) as of today's close.
Evening all.
Beating expectations shares can only go one way in these horrible mrkts and that's down. Ignore if you intend to stay longer than 5 minutes.
Terrific nos from Kitwave this morning. An increased final dividend to 7•45p will please income seekers. The company is firing on all 6 cylinders with many opportunities in the pipe line.
At the current rate a £1bn revenue is not far off which is fantastic if they can keep up the acquisition rate and gross margins at c.20% which pretty much takes care of the important trading nos. Net assets of £84m equivalent to 120pps or 39% of the Co value underpins the shares. A very solid buy in an expanding sector.
Paul Young has grown Kitwave from a one shop outfit to a public Ltd company valued at over £200m in 35 years, a remarkable achievement. He will be missed.
DJ -62 (39,069)
SP -19 (5070)
NS -4 (17,933)
R2 u/c (1296)
WTI $77
10ytb 4•277%
-----------
MSCI(W) -8 (3326)
Gold Bugs -3 (204)
---------------
Latest :- Vix 14. Brent $81.
Gold $2033. Copper $3•848.
Palm $957. Silver $22•535.
$1•268. €1•169.
FF -13. DF -14.
Nyse Data
--------
Issues 2911
Advances 1136
Decliners 1689
U/c 86
T/vol(bn) 3•8
-------------
A dull day on the Street for most investors as stocks paused for breath after the rises of last week, the Dow climbing over 600 points (6% up to date).
The S&P has risen 15 out of the last 17 sessions something that has only happened once in the last 50 years. Yesterday the index added just 2 points as investors cont to fixate on all things tech. Micron Tech which has lagged other firms put on $4 to $90 while Nvidia ($789) slipped back as hedge funds took profits on FAANGs.
Berkshire Hathaway hit an all-time high of $647,000 but slipped on profit taking after news its power company was being investigated by the Govt. That sent the class A stock down to $615,536 on its 2•170m outstanding.
Buffet warned investors in his annual letter that the 'eye-popping' boom days are over for the company on lack of opportunities that can move the needle. However he continues to pile u cash now a staggering $167•6bn equivalent to the 74th largest US company by value and more than Unilever and BP.
Bigest loser on the day was Intuitive Machines ($6) plunging 35% after the company said its Odysseus spacecraft had tipped over after touching down on the moon's surface.
Morning all.