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CFD Traders DiaryMore seesaw action as bulls and bears fight it out19/3/2008 Yesterday saw a dramatic reversal in world markets with the Dow Jones seeing its best day in over five years. The FTSE 100 index saw almost a 200 point rise, and this sort of action is often the hallmark of a turning point, but the bears may still have some energy. Today we have seen an early mark up wiped out by another wave of selling on what has been a very busy day for corporate news. To be fair, the statements have generally been good, with the understandable air of caution offset by fairly good earnings growth. Icap, Smiths industries and Aegis for instance all sounded upbeat within the economic background, and each one gapped up only to see selling into strength. No doubt these are the types of stocks that would normally race away in more normal market conditions. At the bottom end, things do not look so good in the travel world for Easyjet and Hogg Robinson, both of which suggested lower guidance on fuel costs and overall demand. In these markets, the shorts could have another field day here with these types of profit warnings, and it makes one wonder what we will soon hear from British airways and Ryanair |
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