d4f tells us what their clients are selling

  1. 1,368 Posts.
    BHP, News Corp sold down; Telstra feels the pinch
    15:37, Wednesday, 30 July 2003

    Sydney - Wednesday - July 30: (RWE) - Online broker
    Dealforfree.com says it has seen most of its selling orders today in
    News Corporation and BHP Billiton.
    Dealer James Foulsham said: "There has been a reduction in
    positions, but not a drastic selloff.
    "Clients reacted to the poor consumer confidence numbers in the
    US overnight and eased out of companies with big exposures to the
    American economy."
    Mr Foulsham noted Telstra was feeling the pinch again today
    after news Vodafone would reduce its call prices in Australia.
    "Clients are afraid that a potential price war amongst mobile
    carriers in Australia will leave the telco giant vulnerable.
    "A large number of long-term holders of Telstra exited today as
    a result," he said.
    Mr Foulsham said today's strong housing data had triggered
    selling in the banking sector.
    "Clients see the statistics as reducing the chances of a rate
    cut in Australia.
    "Dealforfree.com has seen a reduction of clients holding
    positions in banking stocks, especially Commonwealth and National
    Australia Bank, but no significant exit of the sector," he said.
    The dealer also noted Dealforfree.com clients were bullish on
    "The strong gold price, coupled with the gold producer posing an
    excellent takeover target, has motivated many clients to take a position
    in Newcrest recently," he said.
    "In the last few days there has been a 300 per cent increase in
    client exposure to this stock."

    - Good info on why the banks are falling, but methinks d4f might be a little exposed on NCM and is encouraging you to balance their book.
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.