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  OI Technical Staff   5/5/2004,  1:13:36 AM
Monitor Outage
We experienced a catastrophic hardware failure early Wednesday morning. The monitor was knocked completely off line for most of the day until the hardware could be replaced.

An email was sent to all monitor subscribers at 8:AM ET informing them of the problem. If you did not receive the email please check with customer service to make sure we have your correct email address on file.

This was the worst outage the monitor has experienced since inception over four years ago. We sincerely hope it is another four years before it happens again.

 
 
  Linda Piazza   5/5/2004,  1:13:21 AM
Good morning. The Chinese and Japanese markets remain closed for a holiday. South Korea's Kospi and several other Asian bourses also closed on Wednesday. Other Asian bourses turned in mixed performances, with the Taiwan Weighted diving 5.4% on chip weakness. That chip weakness occurred due to a government announcement after the market close Tuesday that it would trim its stake in Taiwan Semiconductor, selling some of the stock. Taiwan Semiconductor plummeted 6.8%. Many semi and semi-related stocks fell throughout the region.

Some discussion centered yesterday on a rise in some of the gold mining stocks. I'd speculated that in addition to being due for an oversold bounce, the miners might be rebounding at least partially due to China's silence during its holiday. Last week's developments in China had pressured the miners. In overnight trading, an Australian miner dubbed the third largest in the world, Rio Tinto Group, commented that China's demand for iron ore remained strong, with that comment reassuring some markets. BHP Billiton, billed as the largest mining company in the world, closed the day 2% higher.

Singapore's Straits Times was up 0.76%. Hong Kong's Hang Seng declined by 1.22%, despite the 45.7% gain in Hong-Kong listed Chinese company Harbin Brewery Group. That gain occurred as SABMiller announced that it would make an offer for the company after last week's decision by Anheuser-Busch to purchase a 29% stake in the company.

European bourses also turn in mixed performances. Much talk over the last week has centered on possible rate hikes in the U.S. and China, but other central banks will make decisions this week. Thursday, the Bank of England is expected to raise rates again, with a quarter point hike being called a "done deal" by one economist. The ECB is also scheduled to give a press conference that day, but many speculate that the ECB will not raise rates this year.

The FTSE 100 is also being impacted by a warning by EasyJet, sending some airliners lower, and Royal Bank of Scotland's purchase of an American bank, sending that stock lower. Other banks lost, too. In the eurozone, German banks were gaining after Dresdner Bank reported its first net profit after five quarters of losses. Other eurozone banks gained, too, with Credit Suisse saying that it remained optimistic about this year. Other stocks were gaining or losing after their earnings report or after changing forecasts, with much attention centering on German insurer Allianz, gaining strongly after reporting a profitable quarter. Adidas-Salomon and Philips Electronics rose after making optimistic statements. German automaker BMW fell after its earnings report. Special attention also focused on print machine group Heidelberg Druck, tumbling 12% at one point on news that German utility RWE would sell a 50.2% position in the company, and bedeviled Business Objects, dropping 8% at one point after revealing an informal inquiry by the SEC.

As of this writing, the FTSE 100 was nearly flat, up 2.80 points or 0.06%, at 4550.00. The CAC 40 had fallen 4.08 points or 0.11%, to 3696.71. The DAX had climbed 7.47 points or 0.19%, to 3998.22. The DAX pierced 4000 once this morning, producing a H&S on the intraday chart and then falling to its downside target again, the flat-line level. Now it makes another assault on the 4000 level, a level it's been trying to achieve again since tumbling through it on Friday's open.

 
 
  OI Technical Staff   5/5/2004,  1:12:36 AM
The Market Monitor has been archived. You may view it and any previous days here: Link

Disclaimer: Stocks discussed in the Market Monitor are for educational purposes only and any analysis is not meant to imply a recommendation for or against that stock. The analysts in this forum as on any other website are prohibited by the SEC from giving any specific advice to ANY individual trader. All information posted is for ALL readers and is not meant to be directed to any individual. Our analysts cannot answer any email questions regarding any specific stock. Please do not ask and please do not take offense if requests are denied.

Results posted in the Market Monitor are hypothetical and OIN does not claim that any reader achieved these exact results. Due to the lag time between research, writing, posting, uploading, reading and execution there will be differences between the actual signal given and the fill achieved by the reader. Fills may be better or worse but in many cases they will be different. The writers will make every effort to give advance notice of intended signals and indicate potential price targets. Your individual results may vary depending on your activity level and aggressiveness. This forum is intended as an education service only. Trading involves risk and should not be attempted by anyone not ready to accept this risk. By acting on any signal in this forum you agree and personally accept this risk.

 
 
  Jim Brown   5/5/2004,  2:14:51 PM
Monitor Outage
We experienced a catastrophic hardware failure early Wednesday morning. The monitor was knocked completely off line for most of the day until the hardware could be replaced.

An email was sent to all monitor subscribers at 8:AM ET informing them of the problem. If you did not receive the email please check with customer service to make sure we have your correct email address on file.

This was the worst outage the monitor has experienced since inception over four years ago. We sincerely hope it is another four years before it happens again.

 
 
  Linda Piazza   5/5/2004,  9:37:29 AM
During the first five minutes of trading, the OEX spanned a narrow range from 546.84 to 547.32.

 
 
  Linda Piazza   5/5/2004,  7:05:40 AM
Good morning. The Chinese and Japanese markets remain closed for a holiday. South Korea's Kospi and several other Asian bourses also closed on Wednesday. Other Asian bourses turned in mixed performances, with the Taiwan Weighted diving 5.4% on chip weakness. That chip weakness occurred due to a government announcement after the market close Tuesday that it would trim its stake in Taiwan Semiconductor, selling some of the stock. Taiwan Semiconductor plummeted 6.8%. Many semi and semi-related stocks fell throughout the region.

Some discussion centered yesterday on a rise in some of the gold mining stocks. I'd speculated that in addition to being due for an oversold bounce, the miners might be rebounding at least partially due to China's silence during its holiday. Last week's developments in China had pressured the miners. In overnight trading, an Australian miner dubbed the third largest in the world, Rio Tinto Group, commented that China's demand for iron ore remained strong, with that comment reassuring some markets. BHP Billiton, billed as the largest mining company in the world, closed the day 2% higher.

Singapore's Straits Times was up 0.76%. Hong Kong's Hang Seng declined by 1.22%, despite the 45.7% gain in Hong-Kong listed Chinese company Harbin Brewery Group. That gain occurred as SABMiller announced that it would make an offer for the company after last week's decision by Anheuser-Busch to purchase a 29% stake in the company.

European bourses also turn in mixed performances. Much talk over the last week has centered on possible rate hikes in the U.S. and China, but other central banks will make decisions this week. Thursday, the Bank of England is expected to raise rates again, with a quarter point hike being called a "done deal" by one economist. The ECB is also scheduled to give a press conference that day, but many speculate that the ECB will not raise rates this year.

The FTSE 100 is also being impacted by a warning by EasyJet, sending some airliners lower, and Royal Bank of Scotland's purchase of an American bank, sending that stock lower. Other banks lost, too. In the eurozone, German banks were gaining after Dresdner Bank reported its first net profit after five quarters of losses. Other eurozone banks gained, too, with Credit Suisse saying that it remained optimistic about this year. Other stocks were gaining or losing after their earnings report or after changing forecasts, with much attention centering on German insurer Allianz, gaining strongly after reporting a profitable quarter. Adidas-Salomon and Philips Electronics rose after making optimistic statements. German automaker BMW fell after its earnings report. Special attention also focused on print machine group Heidelberg Druck, tumbling 12% at one point on news that German utility RWE would sell a 50.2% position in the company, and bedeviled Business Objects, dropping 8% at one point after revealing an informal inquiry by the SEC.

As of this writing, the FTSE 100 was nearly flat, up 2.80 points or 0.06%, at 4550.00. The CAC 40 had fallen 4.08 points or 0.11%, to 3696.71. The DAX had climbed 7.47 points or 0.19%, to 3998.22. The DAX pierced 4000 once this morning, producing a H&S on the intraday chart and then falling to its downside target again, the flat-line level. Now it makes another assault on the 4000 level, a level it's been trying to achieve again since tumbling through it on Friday's open.

 
 
  Jeff Bailey   5/4/2004,  11:46:42 PM
Closing U.S. Market Watch for 05/04/04 after Fed leaves rates unchanged at 1.0%. Link

 
 
  Jeff Bailey   5/4/2004,  10:42:17 PM
Pivot Matrix for Wednesday at this Link

 
 
  OI Technical Staff   5/4/2004,  8:07:37 PM
The Market Monitor has been archived. You may view it and any previous days here: Link

Disclaimer: Stocks discussed in the Market Monitor are for educational purposes only and any analysis is not meant to imply a recommendation for or against that stock. The analysts in this forum as on any other website are prohibited by the SEC from giving any specific advice to ANY individual trader. All information posted is for ALL readers and is not meant to be directed to any individual. Our analysts cannot answer any email questions regarding any specific stock. Please do not ask and please do not take offense if requests are denied.

Results posted in the Market Monitor are hypothetical and OIN does not claim that any reader achieved these exact results. Due to the lag time between research, writing, posting, uploading, reading and execution there will be differences between the actual signal given and the fill achieved by the reader. Fills may be better or worse but in many cases they will be different. The writers will make every effort to give advance notice of intended signals and indicate potential price targets. Your individual results may vary depending on your activity level and aggressiveness. This forum is intended as an education service only. Trading involves risk and should not be attempted by anyone not ready to accept this risk. By acting on any signal in this forum you agree and personally accept this risk.

 
 

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