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London Traders Day 29th January -  Traders Room    Investors Room

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In the U.S upbeat forecasts from Nokia and Procter & Gamble boosted the stock market ahead of the start of the corporate earnings season. The Dow industrials rose about 63 points while the Nasdaq added 22 William Morrison said strong sales over the Christmas period broke all records. They reported like-for-like sales growth of 10.2 percent, including petrol, in the six weeks to January with total sales up 16 percent year on year.Analysts think that performance, an acceleration from the growth rate last reported by the family-run chain, will beat all other UK quoted food retailers. Interserve which upgrades road junctions and cleans hospitals and schools, said on Friday group trading continued broadly in line with expectations. William Hill said it expected profit for the year would be towards the upper end of analysts' forecasts.

Calendar: United Kingdom	United States (GMT)	Europe & World (GMT
Interserve 09.30 Nov World Trade -2.2m exp. 15.30 Nov Leading Indicator / Trade Report	13:30 Average Workweek Dec 33.9 13:30 Hourly Earnings Dec 0.2% 13:30 Nonfarm Payrolls Dec 140K 13:30 Unemployment Rate 5.9%	Ahold (I), Metro 07.00 Nov German Current Account 7.0bn exp. 11.00 Nov Pre German BBK Factory Orders m/m 0.5% exp. 11.00 Oct Retail Trade y/y 0.2% 11.00 Nov OECD Leading Indicator

Croc@SnappyTrader.com  WWW.SnappyTrader.com

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morning all

FRI FTSE PP

R2 4543
R1 4519
PP 4496
S1 4471
S2 4449

Close above Thu pp, no real clues in the auction and very rangebound! 2 day ftse chart looking for a brk of 4490 for cont weakness to 4470 or back to 4515, dow needs to hold 10550 for that to happen imho, non farms may brk the range hopefully!

Updated 1/8 for Friday's market.
Key DOW Levels for 1/9
UP Above 10,600
DN Below 10,525

Slow Uptrend
Dow pushes slowly higher, tacks on 63 point gain.

From prior commentary, "...The range has formed within the steep channel that has continued to form over the course of the last seven weeks...an upside break through the top of the range at 10,550 will likely fuel a continuation of the current uptrend within the channel boundaries..."
The Dow rallied sharply in the opening minutes of trading today, but slowed the rest of the session, trading in a wide range at the highs the entire day, seen in the 15 Minute Chart. The index ended the day near the highs of the session, gaining 63 points for the day, and continues to look strong within the overall uptrending channel, seen in the 60 Minute Chart.

The range that has formed spans from 10,540 to 10,590 and implies continued upside movement within the channel boundaries. An upside break through the top of the range will spark a continuation higher in the medium term.

However, we will continue to monitor the lower boundary of the steep channel, as a clear and solid break of the line will fuel a large retracement. Watch 10,525, as a break here could begin the descent. A break through 10,500 will be an even bigger indication of weakness.

Short Term Dow

Short term, the Dow has formed a tight consolidation at the highs of the 1 Minute Chart from 10,575 to 10,588. An upside break is implied, but watch both boundaries for direction at the Open.

Medium Term Dow

In the medium term, we are out of the market, as none of our entry levels were triggered. A Long nearly triggered late in the afternoon, but the 30 Minute Rule went into effect less than a minute before the potential trigger occurred. We are out of the market and will watch 10,600 up, and 10,525 down, with 20 point stops.

NASDAQ & S&P

The NASDAQ and S&P each trended higher alongside the Dow today, gaining for the session. Look for continued strength within the respective channels. *

Summary

The Dow trended slowly higher throughout the session after rallying out of the gates at the Open. The index ended the day at the session highs and will likely continue higher if it can break through the upper boundary of the current consolidation at 10,590. Look for a continued uptrend to occur above the lower channel boundary at 10,525.

Morning all

Morning all.

Morning all

Looks like we are being "skrewed" by the US. (So what's new) We are so sure that the US markets are going through a "bubble" which is going to burst and take the UK down with it, that everytime thier markets do well, ours doesn't!

Is that perhaps a simplist view?

If we revalued the downwards by 25% I guess the London market would boom too!

Could someone please bring 'kcom traders' ttt please. I can never get any results from the search facility. (Started by Little Woman)
Thanks

optomistic,

I have just done a search putting KCOM in the second box down on the search facility and it pulls up the thread that Little woman started.

Regards

Ian

IanT(MoneyAM)
Thanks Ian I have been entering in the wrong box.
John

Just closed a small short on Matalam and looking at buying Misys.
Chart looks lile a run to 280 if it closes above 220

CROC

After collapse in Elan and recent news should we be buying this at 6.5p?

DUE TO PROBLEMS AT THE LSE THERE WILL BE A 10 MINUTE AUCTION ON ALL SETS STOCKS AT 13:50 TODAY.

Dunksey, will have a look at ELan
D,

Croc,

I'm curious, what problems are there that require a 10 min auction on all set stocks?

This closedown at the LSE is damm suspicious, swopping servers at this time of day. Could this be a test in case of a terrorist attack?

Today has been quite fustrating. Orders seem to be going through slower than ever, and one or two that I have tried to cancel, wouldn't cancel.

Lw: you mentioned the bubble bursting b 4 -and as the figs came out i has my finger on the buzzer when u put the needle on the balloon to prick it and managed a short of 50pts -not bad for b4 market opens -cuppa tea time now.

Do you reckon we are going DOWn today??

rgds
zarif

It's been very fustrating. I started the day with a short DJ which went up, and a Long FTSE that went down. So I closed the DJ and reduced the FTSE and what happened. The FTSE continued down, and the DJ just before open dropped heavily.

I think the bears should just get on with it. The trouble is, when I decided to join them, they turn into bulls! I really seem to do better trading real shares the CFD's! Suppose it's a different straterg which obviously suits me better.

Afternoon all,

Just logged on, dentist visits and other stuff this morning.

I see the top of the old trend channel held at 4450.
If the bulls are lucky, this may be used as the support
line of a new trend channel.

If not, I've got 4400 as the first support.
If that fails, I've got 4150 on the 50pt P@F chart
that I run.

If that fails then you are maybe looking for a reversal
into a Bear Trend. But that's a way off just yet, so I'll
just let the market tell me and remember, unlike some, that
I don't actually possess a Time Machine.

Melnibone.

Short bay, Long msy

any1 know the XD's for next week?TIA

little woman, don't change your strategy just because you are
trading CFD's.

The principal remains the same, you just have the added opportunity
to go short in Bear Trends instead of trying to fight them with
one hand tied behind your back.

If you find that intraday scalping doesn't suit your style or
temperament then why not try some swing trading in addition to your
LTBH investing?

Hope I don't sound patronising here, just trying to offer you
some friendly support.

Melnibone.

melnibone u can always borrow my time machine, for a fee, got it off doc emett brown, bit temperamental though!

Hi TP,

I hear that they give them out free to anyone who fleeces
the Government whilst pretending to build De Loreans and
create jobs. ;-)

Melnibone.

Looks like the S@P may try and close the gap open.
Trouble is, this will be after the FTSE closes for
the week and once it's gone flat anything could happen.

Melnibone.

I've given up, L2 is playing up showing orders that don't exist and it's too hard to figure it out.

I'm going to watch the DJ for a while..............

Weird afternoon we are having....
A moment ago Granada (sorry forgotten epic) went up
considerably, followed by a ridiculously wide spread for a
share of its type (3odd%)followed by a turning down pricewise...
I haven't slept too long and it's April 1st is it???

All in all it looks like a depressing end to the week.
Let's hope next week is much better!!!