Börsipäev 8.-9. märts

08.03.2004 16:51

-USA turud alustasid kerges plussis. Tööjõuraport oli reedel nõrk, kuid päev lõpetati siiski plussis. Makrouudistelt hakkavad taas pilgud pöörduma majandustulemustele. Esimene kvartal on läbi näiteks Oracle (ORCL).

-BellSouth (BLS) alustas nädalat suure tehinguga, müües oma Ladina Ameerika varad hispaania firmale Telefonica, tehingu hinnaks kujunes 5.85 dollarit. Aktsia on 0.5% plussis.

-Toiduainete valmistaja J.M Smucker (SJM) ostab International Multifoods Corp. (IMC) 500 miljoni dollari eest. Seega jätkub ühinemiste, liitumiste laine.

-Martha Stewarts Living Omnimedia (MSO)aktsia kukkus täna veel 10%. Meedia ja kodukaunistusfirma on tugevas sõltuvuses oma juhist Martha Stewartist, kes reedel mõisteti süüdi keelatud väärtpaberitehingute tegemises.

Gary B. Smith:

Rev Shark

After a chaotic week with a number of twists and turns, the market is in a position where the key to success will be to pay close attention and chip away at market opportunities that arise. We are often inclined to make dramatic market calls and predictions but more often than not the best approach is simply to stay in tune with the short-term mood and enjoy the minor vibrations.

Many folks make the mistake of thinking market success comes from making bold predictions about turning points in the market. The truth is that market success is mainly a function of coming to work every day happily anticipating the many new opportunities that are likely to come into view. The great thing about earning a living from the stock market is that there is always a new supply of opportunities, and as long as you have capital and a positive attitude, you can make good money.

Before I become a trader I was an attorney and CPA. They certainly are excellent professions that can be fullfilling and lucrative, but until I became a trader I never really understood how enjoying your work could make such a huge difference in your results. It became clear to me that trading was the right fit for me.

The main appeal of trading at first was simply the flexibility and freedom that it gave me. Over time it became clear that very nice economic rewards were a consequence of enjoying what I was doing. To actually wake up and look forward to what I was going to do that day made a huge difference not only in my happiness but also in my paycheck.

The market right now is rather murky. We did a nice job shrugging off poor jobs news and Intel's (INTC:Nasdaq) weak report. On one hand the S&P 500 and Russell 2000 continue to act well but on the other hand the Nasdaq has been having a real struggle. Seasonal catalysts are gone but speculative action remains strong.

I don't know which way this market goes, but I do know if we immerse ourselves in it and monitor its heart beat and blood pressure, we are likely to find some good trading opportunities. There are symptoms of health and of illness, but neither is strong enough for us to take any dramatic action. Sooner or later that will change.

In the early going we have some traditional Monday morning strength to start the week. Overseas markets were generally positive with retailers and oils doing well. The dollar is showing strength, which is pushing gold back under $400 again.

My main focus will be to watch for a continuation of pockets of strong speculation and outperformance in small-caps. As long as those two conditions persist I'll lean to the long side

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