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US Stocks closed higher following the good results from Cisco and what is expected to be a strong labour market report tomorrow Scottish and Newcastle said its 50 percent owned Baltic Beverages Holding in Eastern Europe, one of its key growth businesses, saw third-quarter sales in euros rise one percent. Cookson Group electronics and ceramics engineering said that activity in its markets improved in Q3 and it made a profit. It expects to meet market expectations for the year. EasyJet said it carried 1.92 million passengers in October, up 17.8 percent from the same month last year and its passenger loadings were 85.5 percent, up from 83.8 percent.

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AQXL Ricardo (I), Shire Pharmaceuticals (Q3), EasyJetInvox (AGM), Pochin's (AGM) Quayle Munro (AGM), Thomas Walker (AGM)Q3 insolvency statistics (09:30)	13:30 Average Workweek 13:30 Hourly Earnings 13:30 Nonfarm Payrolls 13:30 Unemployment Rate 15:00 Wholesale Inventories 20:00 Consumer Credit	Ahold NL Q2 Comdirect D Q3 Deutsche Post D Q3 TotalFinaElf F Q3

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It is the psych in the US. If people go bankrupt they are appauled for getting back on their feet not treated as a pariah which seems to be the case over here.

Their economy is far far greater shape then we are and they did it by dropping taxes and not increasing it as seem to be the case over here. It appears that when ever this goverment and successive goverments make errors they just raise taxes.

Makes it very hard for the small investors to raise excess cash through savings.

I must agree that raising taxes is not the answer. You'd have thought that we would have learn't that from when Maggie was in power. She lowered Taxes and the Treasury raked in more money than ever and paid off loads of debt. The current Gvt, have raised indirect taxes (e.g.NIC) and not really raked in any more money than before, as we are all looking for ways of not paying the extra!

If they made personal allowances 12,000 and then taxed the rest at 15% (treat all types of income as the same), then there would be no reason not to declare every penny a person earn't, no matter who you were - the tax forms would be a lot simpler. Think of all the extra money the govt would rake in from the exta declared income!

(Taxation Accountants would go out of business, so it wouldn't be popular, but tax inspectors would have no need to investigate individuals and just spend their time on companies!) Too simple!

Look at BT.a go!

BT.A is a sore point with me.
Got my timing wrong there and only took a small profit.

I had my opportunity to rebuy lower but misjudged the market.

Never mind, the market and it's opportunities will always be there.

Melnibone.

I know what you mean, I had built up quite a large holding not so long ago, but got fed up with it not going anywhere, so sold to release the cash at a small loss to move on. (Which I must admit is coming along nicely!)

My only worry is I'm starting to use stop losses more and more to lock in profits, but have to restrict some to the actual day as the spread first thing in the morning would kick some of them in, which I wouldn't want! But this is dependant on being around to set them up after the spreads tighten up!

I tend to use manual stops. I don't trust the way these wierd spikes
tend to happen that take positions out.

Getting very reluctant to take long positions at the moment.
Markets are just too near the highs for comfort.

I know that you should follow the trend but I would prefer these
levels to become the lows of a new leg up.
I'm starting to get the feeling that this is the top of the current
leg. May start looking to short the FTSE on strength.

Definitely not buying anything prior to the payroll numbers and seeing
the markets reaction today and possibly Monday.

Melnibone

I'm not buying either, but using the stop losses to lock in profit in case the market does drop (or carry on up, so I don't lose out too much!)

My new Grandson Zander with me this morning :-)

Snappy & Nappy (Thanks Vasey)

Excellent croc, I see you're still the doting grandfather.
LLOY is finally up, and of course so are the rest of the Banks!

FTSE well pass R2 - but can't see it hitting R3 4420! If it does??????????

Afternoon everybody:
Reckon the dow is going to hit 9950++ today??? and then take a nose dive.
I hope so.
good luck everybody

zarif

You're in early today zarif.

I think a lot of people think the same of the FTSE - A lot of shares seem to now be struggling to hold their current price! The next few hours will be interesting.

yep -little woman.
Just took a long out pre-open and closed with 30pt gain netting 150.

now just watching on the side lines

Looks like the US markets are doing a bit of gap filling
from where the futures left it higher than yesterdays close.
Wonder where it will go from there.

Payroll figures apparently priced into the FTSE this morning,
that's what threw me and put my timing out.

Payroll numbers were good but the make up isn't.
Manufacturing down but service industry(Wal Mart and fast food);-),
up. This what makes them look good.

Can't get a feel at the moment so I'm just watching.

Melnibone

I thought some of my stop losses (for profit) would have kicked in this morning (DXNS, GSK, LLOY & PSN - I thought nice cross section!) but they haven't... Oh well 90 min to go!

US gaps now filled and FTSE back below R2.

Looks like we were right not to buy yet.
I still think that all the good news is priced in
and the Indices are all approaching areas of major
resistance.
Time for care for position trades.

Melnibone

Ahhh love Croc. Junior - I know he's a grandson but I like the name croc junior!
Hope all you chaps and chapesses have a good afternoon and bag some cash somewhere! I don't 'short-term'or day trade as most know, but its interesting watching you lot and maybe at some point I'll move into short-term/day trading.
Its a good learning experience in the meantime, whlist I stick to my medium
term trading habits!!

Hi stockbunny,

Shrewd move, stick with the strategy that you feel comfortable
with and makes you money.

When you boil it down it's all the same. The only difference
is the timespan between your buy and sell. Be it minutes, hours, days,
weeks or years.

Melnibone

Out now - supposed have left 15 min ago. May take a look late tonight when I get back in to see if anyone has posted anything of interest.

Good US trading all those still at it!

Just creamed the dow again for 500 squids.
Seems to be hitting abrick wall around 9891 (say 9000).and goes down like abomber.
All the good results and no hike as expected -then again melnibone you are quite right best to let the markets action tell us what to do rather than pre-empt.
rgds
zarif

Ref BT.A,
I see this was embargoed until the Market Closed. Can't see it being
positive for the share price. Be aware of it if you are thinking of
taking a position in BT.A on Monday if it drops.
Try and correlate any drop in price with any drop in the FTSE.
An excessive drop should be greeted with caution.

OFTEL
07 November 2003

Embargoed - not for publication before 16.30 7 November 2003

53/03

7 November 2003

Oftel decision on certain BT marketing activities

Following an investigation of a complaint from Thus and BVL, and using new
powers under the Communications Act 2003, the Director General of
Telecommunications has ordered BT to stop using information about the transfer
of customers to alternative telecoms suppliers to undertake marketing activity
to dissuade these customers from switching.

Under current arrangements for some types of services, notably carrier
pre-selection, a telecoms company has to notify BT when a customer intends to
switch to its service, so that BT can make the necessary changes to its own
systems to allow the transfer to take place.

Until now, BT has passed this information to its marketing department, which has
then contacted the customer to try and persuade them to stay with BT. Oftel has
today ordered BT to stop carrying out this practice, on the grounds that it is
forbidden under the new EU Access and Interconnection Directive that came into
force in the UK in July 2003.

Melnibone