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Interims SIG : Signet GroupFinals BWB : Burtonwood Brewery ERG : Erinaceous Group HLCL : Helical Bar KWL : Kewill Systems NWG : Northumbrian Water Group TEP : Telecom Plus YTE : Yates GroupAGM / EGM ANTO : Antofagasta ASY : Andrews Sykes Group SGF : Singer & Friedlander AIM VCT SIR : Sirius Financial Solutions THN : Thomson Intermedia UKB : ukbettingEconomic UK April trade (0830 GMT) UK April industrial production (0830 GMT)		Company American Woodmark Corporation AMWD H&R Block, Inc. HRB Hayes Lemmerz Int'l, Inc. HAYZ Martek Biosciences Corporation MATK Net2Phone NTOP Omnivision Technologies OVTI Signet Group SIGY Smithfield Foods SFD Tommy Hilfiger TOM Versant VSNT Volt Information Sciences VOLEconomic3:00 PM GMT Wholesale Inventories for Apr Mkt Expects 0.5%		EconomicPORT: Auction: 800 - 900m 4.375% 06/2014 Bond GER: 07.00 Trade Balance (April) 16.5bn 12.0bn - Current Account 11.3bn 6.6bn JAP: 07.00 Machinery Orders (May) -3.2% +1.9% (+6.4%) NZ 22.00 Reserve Bank of New Zealand Interest Rate Announcement
Interim Ex Dividend: UK AVON : Avon Rubber - 3.7(p) BSET : British Assets Trust - 1.3(p) CDFF : Cardiff Property - 2.2(p) CRY : Country & Metropolitan - 1.1(p) HMP : Hampton Trust - 4(p) ITE : ITE Group - 0.55(p) MAJE : Majedie Investments - 3.2(p) NHP : NHP - 3(p) PUB : Punch Taverns - 2.9(p) RE. : R.E.A. Holdings - 4.5(p) RNO : Renold - 3(p) SCV : Scottish Value Trust - 1(p) WTAN : Witan Investment Trust - 2.7(p)Final Ex Dividend: ABNY : Albany Investment - 5.4(p) AGG : Aggregate Industries - 1.67(p) AUW : Atrium Underwriting - 8(p) AXD : Alexandra - 3.3(p) BAA : BAA - 13.4(p) BOOT : Boots Group - 21(p) CAM : Camellia - 67(p) CHU : Chaucer Holdings - 1.35(p) CTF : City Lofts Group - 1.94(p) ENN : Ennstone - 0.78(p) ET. : Establishment Investment Trust - 1.45(p) FSTA : Fuller Smith & Turner - 12.21(p) HDU : Hardy Underwriting Group - 8.25(p) HEAD : Headlam Group - 10.25(p) HILS : Hill & Smith Holdings - 2.45(p) HTG : Hunting - 2.25(p) JHT : Johnston Group - 3(p) JJB : JJB Sports - 7(p) JMAT : Johnson Matthey - 18.2(p) LPK : Linton Park - 10(p) MCP : Martin Currie Pacific Trust - 1.4(p) MRT : Merchant Retail Group - 2.75(p) MTN : Matalan - 5.4(p) NRI : Northern Investors Company - 14(p) PEA : Peacock Group (The) PLC - 5.3(p) PILK : Pilkington - 3.25(p) PVI : Private Investors Capital Trust - 0.5(p) RTN : Restaurant Group - 2.9(p) SJE : Smith (James) Estates - 5.5(p) SMT : Scottish Mortgage Investment Trust - 0.4(p) YULC : Yule Catto & Co - 7.7(p)

Having finally got broadband here in the wilds of deepest Oxfordshire I spent most of the day getting it all up and running and enjoying the experience of down loading 20mb files without losing the will to live.

So I have little to say on Tuesday markets other than they seemed to move around a bit and ended up again.

I gave up trying to read the 230 posts on the Traders Room but lighted on the Investors Room Traders Thread where Melnibone was musing on the use of moving averages and MACD.

Interesting stuff.

I am off to try the really tricky bit now and work out how get wireless networking set up, so not much attention to the markets again for me but hey they will still be here on Thursday.

Good Hunting
Speedy Gonzalez of Oxon

Evening Martini. Yes, there were lots of interesting posts today - am now reviewing how I use charts!

Hope the wireless networking works out well..

Yes quite a learning curve today. Traders is far more prolific, 230 to our 23 and 17 already for tomorrow, well here's our 3rd!

Morning all :>}}

martini
best of luck with wireless network, mine works well am sat in garden havin breky i also use the wireless system for my broadband ie not tele line and i am also in out backs of south oxfordshire watlington area

WEDS FTSE PP

r2 4531
r1 4518
pp 4502
s1 4489
s2 4474

The ftse closed above it pp on Tue but lost 2.4 pts in the auction, uptrend still intact, breakdown at 4500 imho to watch if the dow fails to pass 10400 and closed sub 10360 may be a retracement on the cards!

Updated 6/8 for Wednesday's market.
Key DOW Levels for 6/9
UP Above 10,450
DN Below 10,350

Quiet Session
Dow trends slowly higher, breaks 10,400.

From prior commentary, "...The index ended the day right at a clear upper trend line at 10,400, which is clearly a crossroads in the charts. A break or bounce at this level could spark a new medium term move. Look for the index to consolidate at the highs before a key move is seen..."
The Dow moved slowly higher today, as the index broke through the major 10,400 level en route to a 41 point gain, as seen in the 15 and 60 Minute Charts. The index has not moved far from 10,400 level, however, as the Dow continues to hold at the key upper trend line of the major trading range, seen in the Daily Chart.

We could see the Dow continue to hold at the highs as a consolidation develops. Such a range would indicate continued strength in the medium term. However, a break below 10,350 will likely make for weakness within the current uptrend.

Short Term Dow

Short term, the Dow has formed a clear trend line beneath the lows of the 5 and 15 Minute Charts. A break of this line at 10,375 will likely make for weakness tomorrow morning.

Medium Term Dow

In the medium term, we closed Longs this morning at 10,350, giving us a 24 point gain. We later re-entered Longs at 10,400, but stopped out with a breakeven trade. We are now out of the market and will watch 10,450 up, and 10,350 down; using 20 point stops.

NASDAQ & S&P

The S&P and NASDAQ each gained slightly for the session, continuing to hold on to yesterday's gains. Look for continued strength unless key lower levels are crossed. *

Summary

The Dow pushed higher today, gaining 41 points for the day. The index is now holding above the key 10,400 level and will likely continue higher should the 10,350 level hold up. Otherwise, a break here will indicate weakness.

daily

Morning all.
Martini goodluck with the wireless broadband.
Wonder whats in store for us today?

rgds
zarif

Morning all.

This wireless technology is tempting. As I said to Croc, I just use a long telephone wire out to the garden but the dog has now taken to "accidentally" pulling the connection out from the wall! Having said that, we have thick sea mist today so I don't think I shall be working outside.
Good trading everybody.

Morning all

jj50
wireless is well worth it for under 100 quid i use a little vaio batt lasts for 2-3 hrs and just wander about with it even in mates hse close by so can keep a eye on whats going on even when not at home !

biffa

Sounds good. I have noticed in the States everyone seems to use wireless. I shall investigate - thanks biffa.

Morning all

continued thanks martini!

Morning all

(I know - I'm late again)

nother late mornin all

Morning all.

Funny old markets, these.

Everything has crept up to resistance as if it's embarrassed to
be here.
The poor volume, for weeks now, keeps bringing the word 'Apathy'
to mind.

I keep going to open an index short and then think,
"Might as well wait and see if it creeps any higher."
Maybe everyone is thinking the same.

I'm not very well up on what happens when the futures change
from June 18 to the September ones, but it's getting quite
close now. Is this anything to do with the change from June
to September by the Futures Traders, does anybody know?

I remember reading on TT that TomH has June 18th as a key day for
a possible trend change. Possibly some kind of link here?

Melnibone.

Good morning,

Hello gang,below is the email i recieved from Tom Hougard.
rgds
zarif

My feeling is that the market is in a quarter end mark up phase which is seeing more upside than even the perma bulls could have hoped for. This is caused by the lack of participation from the big Wall Street firms. The evidence is in volume which is running at around 2/3 of the normal average volume. This does of course necessarily have bearish implications. It just means that no one is interested in selling and buyers have to chase prices higher.



Oil prices look toppy as well and may provide the catalyst for higher prices in the market. I could see a relief rally develop on the back of lower energy prices, but I do think that the market is very vulnerable to exogenous factors relating to oil. In other words traders are keeping a close eye on that sell bottom if a piece of undesirable news item rolls over their monitor.



I spoke to a friend of mine last night who trades the SP500 in Chicago. He told me that he will take Thursday off before the Reagan funeral on Friday. His reason was that Thursday is roll-over day from June to September and it often buggers the geometry of the contract. I have today and Thursday as trading lower but if many traders are taking off early we could find a market far more prone to market manipulation. I would therefore only short weakness.



The 1145 area is a huge target for the market. If we were to close above 1145 the market could theoretically move to 1170. I am not a big fan of this and I am in general not a big fan of the market right now. It feels odd to me and looks most suitable to day trading. Keep an eye on 1145 as the market could see a dramatic reversal at this price.



Oil is falling and I am looking at stocks like BP and Exxon Mobil. XOM has failed to trade significantly lower (only dropped about $2) since I issued a short at $44. We are now back around $44. If both BP and XOM trade higher from here, and can get through $44 it targets the all-time high at 47.75 at a minimum.



Tom

Thanks for that, Zarif.

Glad to see someone else is thinking along the same lines as me.

How do you get e-mails from Tom?
Is it part of a service that you get with one of your accounts?

Melnibone.

Melnibone: I was introduced to him By the "Priest" (Tim Leleux) and we became friends and he keeps sending me the analysis etc.
I think if no-one objects then i will keep posting his email on here(of course with TH,s blessing).

rgds
zarif

Zarif

thanks for that, if you can please keep posting them.

Catching up with reading all your postings. This thread is certainly getting more interesting.

I can only trade for short periods at the moments, so I'm now short ITV & CTM. Both very small positions.

Afternoon! Will try to post here more often, but can't promise.

My current take on the market is first S&P and then Dow last night (as shown by TP's chart above) may very well have broken out of a bullish flag. Nasdaq broke 2000 again a few days ago and a couple of weeks back there was a note that small cap stock buying had picked up again over the pond. FTSE as usual is dithering, but our American friends are in bullish mood right now.

The next couple of days will be quiet as everyone says bye-bye to dear old Ronnie, the thickest Prez until the current one arrived. ;-)

As for me, I'm currently long ALM, AQP, IMG, JKX, ROK and short WBY.

Finally, I went "wireless" last month and very good it is too. Problem is battery in laptop is well past its sell-by date. ;-( Got my gear from the following website where they have a great chat facility to ask all the questions you want to ask.

http://www.dsl-warehouse.co.uk

Have a good day.

Al
;-)

Forgot - also long ICI (for now)!!

Thanks for your imput Big Al, as I said earlier, this really is shaping up to be a really interesting thread.

lw - the Investors' Room is not a button I click on as regularly as I should! ;-)

Al

nice to see you coming over to this side lol. Interested to know why you are short WBY?

Fundametalist - good question! ;-)

Yesterday, saw a load of sell bots so helped them by taking out an order at 435p. Second, there's a pretty strong support/resistance level around 440p, which it hit off 2 weeks ago and again yesterday. Thirdly, I'm rather bearish on housebuilders anyway with rate rises coimng along thick and fast in general. Also, am firm believer housing market is stuffed - CYD profit warning a couple of months back showed what the top end was doing and it's all been donhill from there really, depsite what "official" figured say. Would be happy to take 10p for now.

PS - I'll have a bit of RDW if it pokes its head over 350p for very long as well.

;-)

Big Al.
Nice Of you to join hands with us at the INV.BB. we are honored.Please keep the advice and views coming and your no-nonsense comments which would be appreciated when need to kick A*** to put us in shape

rgds

zarif - it's usually me that needs a kick up the a**e!! LOL

Big Al

thanks for that, reason for the question was WBY were my employers up until 6/8 weeks ago! I was regional FD for them in Manchester. Shorting on general sentiment to housebuilders seems sensible enough, only danger is potential takeover bid.

Fundamentalist - ah! Gimme the info! ;-)

Trying to complete a short order on RR. just now. Partially filled. It's at res of 240p. Stop on new high probably around 245p - will see how it goes.

Out of ICI -1.

Short RR. 240

Covered ROK +13 ;-)

2 large trades on WHT at mid today. Results tomorrow. Hmmm

Went out for 3 hours to find no new posts! Oh well, another day tommorrow.

lw - no-one wanted to talk to me so I buggered orf!

;-)