Hi traders,

Hope you all have a good week.

The weekend press suggests another winning week for the shorters....with retail
and banking the sectors in focus.

Hope you find some opportunities there.

Thanks to our stalwart regular posters. (With the exception of Supermum who is
still enjoying the dubious delights of Las Vegas....and didn't invite me!) ;)

See you Monday morning with the latest...

G.

Good morning traders!

In Asia today, the Hang Seng ended the morning session 310.4 points higher at
24,843.52, while the Nikkei was recently up 31.3 points at 14,369.84.

New York's main oil futures contract, light sweet crude for July delivery, slipped 4
cents to $127.31 per barrel.

Happy trading!

G.

Morning all. Market reports:

Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
This is Money

Saturday

Inflation in the European single currency area jumped to 3.6 per cent during May, up from 3.3 per cent in April. The figure matches the 16-year high seen in March and was slightly above market expectations.
Eurozone inflation at 16 year high

The system for setting the benchmark rate that underpins mortgage, bond and derivative contracts around the world will not be changed despite growing concerns about its credibility.
Libor won't be changed, says BBA

US blames 'speculation' for high oil price, but speculation is how a proper, legal, financial market works, executive says.
After US attack over oil price, traders and commodity exchanges fight back

Accusations of price manipulation in the soaring market for jet fuel are among dozens of allegations being investigated by commodities regulators in the United States, where the public and politicians have rounded on "speculators" for driving up the cost of oil and everyday inflation.
Regulator investigates 'market manipulation' by jet fuel speculators

Silverjet's chief executive has blamed City analysts rather than the rocketing oil price for the collapse of the all-business class airline.
Silverjet 'killed by analysts, not oil prices'

Northern Rock plans to double the number of staff looking after its mortgage book as it gears up to deal with more customers having trouble paying off loans in the worsening economic climate.
Northern Rock doubles debt management staff

Sunday

Two leading US politicians are pushing for tighter controls on London's oil community by handing the American Commodity Futures Trading Commission (CFTC) a remit to regulate trading on foreign energy exchanges.
US Senators seek curbs on London trading in oil futures

Oil prices could hit $200 a barrel in the next few months. How the spike changes everything.
The Coming Energy Wars

Homeowners are likely to get little respite from high borrowing costs this week, with City economists predicting that the Bank of England will keep interest rates on hold when its rate-setting Monetary Policy Committee meets on Thursday.
Bank set to keep base rate at 5% as inflation continues to rise

As banks look to shore up their balance sheets in the wake of the credit squeeze, Philip Aldrick asks whether it is all short-term trickery.
Banks' credit crisis solutions have echoes of 1929 Depression

Steven Crawshaw, Bradford & Bingleys embattled chief executive, will shock the City this week by stepping down as the bank issues a profit warning.
Bradford & Bingley's Steven Crawshaw to step down following rights U-turn

City traders are betting almost 6bn that the value of UK retail shares is set to fall, underlying just how pessimistic the outlook is for Britain's beleaguered high street chains. Short sellers have staked 5.7bn on disappointing news pushing down the share prices of the 21 retailers in the FTSE 350, which include Marks & Spencer, Tesco and Next. This means that 8 per cent of all shares in the retail sector are now held by short sellers, according to Data Explorers.
Short sellers bet 6bn against retailers

Shoppers are relying on store cards or reverting to cash as they try to keep their heads above water, says Debenhams chief executive Rob Templeman. 'We are seeing a lot more cash purchases and the number of store card transactions is moving up,' he said.
Crunch-hit consumers turning to store cards

Monday

For Britain's beleaguered banking sector, the timing could hardly have been worse. For Bradford & Bingley to turn to TPG is a stunning move considering that just a few weeks ago the UK bank was telling investors it had no need to raise cash.
Steven Crawshaw's departure from Bradford & Bingley taints banks' rights issues

The Bank of England should raise borrowing costs to 5.25pc at its meeting this week, says one of its leading former policy-makers.
MPC founder Willem Buiter calls for interest rate rise

Britain's manufacturers today provide the government with some rare good news on the economy when they report that strong growth in exports to the Middle East and China has given the sector a 10th successive quarter of growth.
Manufacturers stay upbeat as exports rise

A recorded conversation between two traders is helping to shape the rules that govern global energy futures markets.
Commodity Futures Trading Commission takes aim at oil price manipulation

After years of stagnancy, the recovering economy has avoided the sub-prime crisis.
Japan continues climb out of lost decade

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

OUTLOOK - UK companies results for 2 weeks to June 13TFN UK calendar and forecasts for todayThomson Financial UK at a glance share guide - weekendTFN economic and business calendar to Friday June 13Thomson Financial Europe AM at a glance share guide: Shares, oil mixed

The Monday Press Roundup

09:00 EU PMI Manufacturing May
09:30 UK Mortgage Approvals April
09:30 UK Net Consumer Credit April
15:00 US ISM Manufacturing May (consensus 48.5)
15:00 US Construction Spending (consensus -0.7%)

Thomson Financial UK at a glance share guideLondon shares outlook - Lower; Bradford & Bingley set to unveil TPG stake move

Australian shares close higher on gains in resources stocks

BROKERWATCH JC Decaux initiated as 'underperform' at Credit Suisse

Tokyo shares close higher; banks, financials rebound as U.S. worries ease

BROKERWATCH Oilexco started as 'overweight' at Morgan Stanley

BROKERWATCH European Telecos upped to 'neutral' vs 'underweight' at JP Morgan

STOCKWATCH Vedanta lower following Sterlite unit agreement to buy Asarco

London shares open lower; DJIA weaker; banks weigh as B&B unveils TPG stakeAustralian shares close higher on gains in resources stocks - UPDATE

UK smallcap opening - Idox up; sees H1 profit 'materially ahead' of expectations

UK smallcap opening - Ramco rises; new unit to exploit offshore wind farms

Tokyo shares close higher; banks, financials rebound as U.S. worries ease UPDATE

UK small caps open down; Pilat Media says outlook concerns may impact revenues

BROKERWATCH JP Morgan resumes coverage of pharma and biotech companiesSTOCKWATCH Solvay outperforms on positive TriLipix study

STOCKWATCH Bradford & Bingley slumps after profit warning and new rights issue

BROKERWATCH Alstom, Rolls-Royce link could make sense; merger unlikely -analysts

Metals - Gold dips on firmer dollar, weaker oil prices

OUTLOOK Severn Trent faces Crown Court sentencing Monday

STOCKWATCH European airlines fall after IATA slashes industry profit forecasts

OUTLOOK Severn Trent faces Crown Court sentencing Monday

London shares - midmorning featuresWALL STREET OUTLOOK Lower open seen on European weakness; ISM data awaited

STOCKWATCH Oce rises on reported interest from Konica Minolta

Metals - Gold steady near $890/oz on firm dollar UPDATE

STOCKWATCH BG down on fears it will raise Origin Energy bid againSTOCKWATCH BG down on fears will raise Origin Energy bid again

STOCKWATCH B&B drops on bad news; cut to 'sell' at Dresdner Kleinwort UPDATE

London shares - midday features

UK small caps stay lower midday; Pilat Media down sharply on fy revenue concerns

Midday Market Roundup

Precious Metals Summary - London AM Fixings

JRVS 39.50 - 40p +5p
doing well and closing the large GAP to 78p as is on a BREAKOUT

RNVO 32.50 - 33p +3.75p
bouncing from lows after last week 8 directors bought 572K at 27p and has cash worth 49p

Chart for RNVO - Double Bottom

Were both selected yesterday on the "UPS" for the week .........

Sunday 2th 08
"UPS" - Master RSI
RNVO 29.75
Reason - Last week losses were smaler than last year and 8 directors where heavy buyers 552 thousand at 27p a, cash in the bank of 90M representing 49p, almos twice the share price at the moment. Progress in the development of its scar treatment drug Juvista. Double bottom on the Chart.

Sunday 2th 08
"UPS" - Master RSI
JRVS 34.75
Reason - Results last Wednesday were a turnarond from losses to profits (much higher than expected), reduced overheads and sell of loss/making parts were the reason. Rail freight is were the profits will come in the future. Into BREAKOUT there is GAP to fill to 78p

Master RSI

Cheers.

Master RSI,
What does the chart say about MMS. they rose a lot last week and trying to decide what the chart thinks. tried to buy at 5.75 and failed and would like to know if the chart suggests it may revisit that terrority.[i appreciate this may be a crystal ball type question, will keep DMOR etc]
Any good books on reading charts.
Alex

OUTLOOK William Morrison Supermarkets to report robust Q1

First Day of Dealings - Clarification

STOCKWATCH British Energy top riser on Iberdrola bid rumour

London shares - midafternoon features

STOCKWATCH Iberdrola drops on rumour of 885 pence/share British Energy bid

STOCKWATCH MOL dips as brokerage warns of dividend delay

Precious Metals Summary - London PM Fixings

TFN economic and business calendar to Monday June 16

robertalexander

re - MMS

the large rise last week has put the shares into an overbought position on the Indicators, no wonder some punters have taking profits

Is in a BREAKOUT after moving over 4,375p and then 6p intraday so interesting