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European airlines should rise falling a drop in the price of oil. Burberry's full-year profit rose 21 percent to 141.2 million pounds. Total sales rose 15 percent following the opening of new stores and added new lines to the range. Kidde British fire-fighting equipment maker said it had won a $250 million deal over 20 years to provide the complete fire protection package for the new Boeing 7E7 Dreamliner programme. EMI profit fell 8.7 percent to 163.3 million pound, turnover fell 2.5 percent to 2.12 billion pounds both figures beating market expectations. The company said it was confident for the next year with an improvement in the music industry. Microscience, vaccine development company said it planned to raise about 40 million pounds from listing its shares in London next month, which should value the firm at up to 140 million pounds.

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David@SnappyTrader.com   www.SnappyTrader.com			Pre Market Futures	FTSE +6	DAX+6	DOW+24	S&P+3.3	Nasdaq+5

Morning all. I have seen a Double bottom on the Dow (weekly chart) and also on a Point & Figure chart. I read this as a possible move to 10300 which coincides with the R3 of the weekly pivot level. All imho dyor etc.

Morning all

One good thing about all this uncertainty is that spending is going down which has got to be a good thing.

Morning all - thanks croc.

I feeling quite positive about this week. I have found the market drops slightly on the last 1-2 days of each month. Then goes back up early in the month.

S&P futures are up.

And the PRESS does it again!

Reports in the weekend press that the Council of Mortgage Lenders is calling for interest rates to double to avoid a housing-market crash appear to be rather alarmist and misleading.

Yesterday, the Sunday Telegraph reported that the CML's chief, Michael Coogan, thought that the Bank of England's Monetary Policy Committee (MPC) needed to increase interest rates to at least 8% in order to prevent house prices spiralling out of control and then crashing. He was quoted as saying that it may already be too late for the MPC to influence the housing market with small tweaks to interest rates.


This morning, the CML is claiming that Michael Coogan did not give an interview to the Sunday Telegraph, let alone one suggesting that interest rates need to double or are likely to double. He now says:


"This was only ever designed as a hypothetical observation - we do not want it to happen, nor do we believe that it will. But it has become a media story that has spun out of control - and it is now time for it to stop. Real people make real financial decisions based on what they read and hear in the media - we want to make quite clear that they should be expecting a moderate rise in rates, not a doubling."


One thing he's certainly got right is that some people do react to what they see in the newspapers. You can well imagine that people with large mortgages who are already stretched to the limit might be inclined to panic at the thought of interest rates doubling! And the moment people start panicking is the moment the market turns.


If you are truly worried that interest rates will go up enough to cause you money worries, then consider fixing your mortgage rate for the next few years, so you'll know exactly how much you'll need to find each month. As it happens, the CML believes the Bank of England's base rate is likely to end the year at around 5.25%, and end next year at around 5.5%.

Does that make you feel better?

Putting up interest rates properly is long overdue imo. Good for savers and traders who have put vast amounts of their pot into saving plans whilst the markets sort themselves out and the houses retrace back to normal levels again.