Premarket Futures

FTSE -15

DAX -20

DOW -11

S&P -1.0

Nasdaq -3

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1 Day 2 Day 5 Day  Futures  US News	Nasdaq 100	S&P 500	S&P Futures
DAX / CAC    Euro News	Nikkei +-219   Hang Seng -242 Asia News	10 Year Bond
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News:	Sorry Your browser is not java capable
US Stocks: As expected in the weekend thread computer sell programs kicked in to bring the DOW back into its longer term trend UK House prices remained buoyant in the three months to end-November, with little sign buyers were deterred by the Bank of England's 25-basis point interest rate hike. GKN said trading had been in line with expectations, adding that there were signs of recovery in its automotive markets in the fourth quarter. HBOS Britain's fourth-biggest bank by assets, said it expected full-year profit to meet market consensus and said provisions for non-performing loans were in line with its expectations.Whitbread appoints new chief executive: They named Alan Parker on Tuesday as its new chief executive to replace David Thomas in June next year. Persimmon housebuilder said trading in the second half of calendar year 2003 had been strong and it expected annual profits to come in ahead of market expectations. They also reaffirmed plans to pay a full-year dividend at least 15 percent higher than a year earlier and said demand for homes remained robust and sales rates per site remained strong, despite market commentators continuing to predict a declining housing market. Pearson says profits on track, despite FT ad revenues down Carpetright Britain's biggest floor covering retailer reported a 33.5 percent jump in profit to 32.3 million pounds and said like-for-like sales were up 1.8 percent at the start of its second half. Analysts had been forecasting 28-29 million pounds, excluding property profits. Yell: Credit Suisse First Boston "outperform" rating with a price target of 350 penceNestor Healthcare: Dresdner Kleinwort Wasserstein says it has cut its price target on healthcare recruitment to 310 pence per share from 380p.Capita: Goldman Sachs has downgraded its rating on services company to "in-line" from "outperform" 260-270 pence per share from 300p.

Calendar: United Kingdom	United States (GMT)	Europe & World (GMT
Carpetright (H1) HBOS (Trading Statement) GKN (Trading Statement) Persimmon (Trading Statement)Praxair Inc stock split ex date, 2 shares for every 1 share held 00.30 Nov RICS Housing Survey, +40 exp.. 09.30 Nov RPIX y/y, 2.6% exp.. 09.30 Nov HICP y/y, 1.5% exp. 09.30 Treasury Officials Comment on Pre-Budget Report	Comverse Technologies, 13.30 Nov CPI m/m, 0.1% exp. 13.30 Nov Housing Starts, 1.9m exp. 13.30 Nov Building Permits 14.15 Nov Industrial Production, 0.4% exp. 14.15 Nov Capacity Utilisation, 75.3% exp	VNU 11.00 3rd Quarter Production in Construction

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TUE FTSE PP

R2 4414
R1 4381
PP 4364
S1 4331
S2 4315

Close was on Mon pp after loosing 6.1 pts in the auction! 2 day ftse chart still just in uptrend, third higher low, 4345 brk down for continued weakness, still in the uptrend channel (just) ftm!
edit-Gap through TL on open!, test of s2?



Updated 12/15 for Tuesday's market.
Key DOW Levels for 12/16
UP Above 10,100
DN Below 10,000

Pop and Drop
Dow pops at Open, but drops to the Close.

From prior commentary, "...The Dow closed above the 10,000 mark for the second straight session and continues to close in on the upper boundary of the wide, upward-sloping trading range...Look for the Dow to continue higher toward the upper boundary of the range..."
The Dow got a huge pop at the Open on news of Saddam Hussein's capture, which sent the index into a sharp advance early in the session. However, the Dow was not able to sustain such gains, which ultimately led to a slow and steady decline the remainder of the session, seen in the 15 Minute Chart.

Today's reversal could spill over into tomorrow's market, especially if the lower boundary of the tight channel is broken at 9,970. The channel, seen in the 60 Minute Chart, has formed over the course of the prior month of trading. A downside break from this channel will likely spark a sharp move lower.

Otherwise, look for the Dow to continue trending higher within the channel boundaries. An upside break through 10,100 will make for another wave higher within the channel's boundaries.

Short Term Dow

Short term, the Dow has formed a clear trend line across the highs of the late-day decline, seen 1 Minute Chart. An upside break of the line at 10,045 will make for strength at the Open. Otherwise, look for a continued push lower beneath the line.

Medium Term Dow

In the medium term, we are still out of the market, as none of our entry levels were triggered. We will watch 10,100 up, and 10,000 down tomorrow, with 20 point stops.

NASDAQ & S&P

The NASDAQ and S&P each popped and dropped alongside the Dow today, making for slow and steady declines across the board. Further weakness could spill over to tomorrow's market, given the exhaustion gap now formed. *

Summary

The Dow pushed higher at Open, but was not able to hold on to the day's big gains. The result was a day-long decline, which could continue if the lower boundary of the channel is broken at 9,970 tomorrow. Watch the channel boundaries closely tomorrow.



stockcharts
12/15:Interesting day indeed!
Saddam rally faded and this is the best sentiment indicator of top one could have - when the market declines on what is deemed 'good' news.
If the ending diagonal count is right, we retrace down to 9900 tomorrow, or early wed.
Aggressive short here with a stop at today's high, conservative still needs more pattern down to make a decent call.

Morrrrrrnnning

Morning all. Thanks Croc & TP.

Morning all, I cant logon on the traders side, is there an account problem? I posted something over there in the bugs thread (post before vasey) and havnt been able to getin since.

Thanks.

With a -15 open seems the test of the uptrend at 4330 is on the card, with 4315 the next tgt low then to 4280, DJS looking at 10k sup and brk of 9970 of Uptrend on 60min, most imp No,s today imho!


AVZ sentimnet may be hit by new that an Illinois teachers pension system has told Invesco they may loose contracts to manage $1.2bn retirement funds due to SEC investigations!

bonkers I am o.k
E-mail: support@moneyam.com

Thanks TP

croc, thanks already did that last night... (spaceman)

mornin all

Morning all

spaceman is that you?

Morning all,

Back to normality after yesterdays moment of madness.
Gap open closed and starting to drop.
Need to watch support levels closely, TP has already listed
them.

Melnibone.

little woman

You were jumping to conclusions yesterday when you said I was waiting for the news to come to me.
I phoned the company when OXB started rising about 3 weeks ago but they wouldn't say anything. Not really surprising but worth a try.

I also spoke to some research assistants at UCL who have friends at Kings to see if they knew how things were going but they didn't want to say anything useful.

Internet & msg board searching revealed nothing new.

The larger buys mostly precede the news so I wondered how the bigger investors were finding out.

In the mean time I'm just happy to watch my profits grow because it seems from the news that the rise is sustainable.

Ahhhhhhh, but did you ask specific questions? My brother is a FD of a US quoted company, and he generally will not give anything away. But he says that if you ask a direct question about something specific, he will provide all the information you want. Investors go fishing for information so don't get it.

I wonder if had you had asked the company about the current progress of the Innurex nerve repair programme they would have given you the info you wanted?

Just received some paperwork from Barclays sotckbrokers which they must receive back by the 19th (within 3 days). Its details of a rights issue for one of the shares held by the investment club I'm treasurer. I personally hold the shares in certificate form, so received my paperwork from the registrars about 10 days ago! Just a well I don't have to get a second signatory or the other members aproval to deal with it!

Well, this is exciting, isn't it.
I think we've been spoilt with yesterdays nice moves.

I was hoping for more of a down move by now to test some
supports, but there doesn't seem to be much happening.

I wonder if yesterdays high gap open provided the end
of year book balancers with the opportunity to get most
of their selling done? They must of thought all their
Christmas's had come at once. :-)

If this is the case then it's going to be back to boring
old range trading for the week, with possibly a gentle rise
to the end of week option expirys.

We'll find out when the US provides the lead this afternoon.

Melnibone.

Just received my voting paperwork for the Granada/Carlton merger. Voted against everything - who says the small shareholder doesn't take an interest!

little woman,

Yep I was very specific, I asked about each drug & was just referred to the statements the company had made that we all see on the newsfeeds.

Then I can see why you're not happy about the way they put out news.

But I'm happy about my rising profits.

Industrial prod surges 0.5% better than exp

http://www.amazon.co.uk/exec/obidos/ASIN/1883272610/ref=sr_aps_books_1_1/202-9765392-2061420

Our man ed downs!


Also
http://www.amazon.co.uk/exec/obidos/ASIN/1883272610/ref=sr_aps_books_1_1/202-9765392-2061420

Small short MyTravel, goodness help me ..

little woman....at least one share in your investment club is doing the decent thing! DYS currently up 2.5% (or 7p) at 283.5 currently

Yes, In fact is is currently our best performing share! Did you see the amusing comment in the Financial Mail on Sunday (back page) two weeks ago, about Nick (FD) being seing on a rather lovely large yacht, and at the same time the chairman was off with his caravan in Scotland. I think nick said something about just visiting the Yacht, and it was not a good comparison, because the caravan was more luxurious than the yacht!

Off now til late! See everyone at tommorrows open

No, I missed that little gem! But I'll make sure your powers of observation reach a wider audience and copy on to the other thread! If that's OK?

WED FTSE PP

R2 4360
R1 4346
PP 5338
S1 4324
S2 4315

Ftse closed below Tue pp after gaining .4 in the auction, has also broken the higher lows uptrend of the past 2 trading sessions! Still in a downtrend on the 2 day chart targeting 4300, brk up through 40 to to R2!