1 Day     2 Day  5 Day   UK News			Gold/Bond Pivots Markets  Futures Translate
	Day 2 Day 5 Day US News	S&P Futures
	Nikkei +208 Hang Seng +150  Asia News	DAX    CAC     Euro News

	Calendar:  United Kingdom		United States		Europe & World
Interims AWI : Award International Holdings GHH : Gooch & Housego FinalsAAT : AEA Technology MCKS : McKay Securities AGM / EGM ALY : Ashley (Laura) Hldgs SER : Sefton Resources SLNG : Slingsby(H.C) TBK : Ted Baker WBY : Westbury Trading Statement AL. : Alliance & LeicesterEconomic UK May retail sales (0930 BST)		Company Actuant (ATU)  ADE Corp. (ADEX)  Adobe Systems Inc (ADBE)  American Healthways Inc (AMHC)  Bed, Bath & Beyond (BBBY)  CarMax Inc (KMX)  Clarcor Inc (CLC)  Entegris Inc. (ENTG)  Meade Instruments Corp. (MEAD)  Nevada Gold & Casino Inc. (UWN)  Norstan Inc. (NRRD)  Saba Software Inc (SABA)  Smucker (J.M.) Co., The Cl. A (SJM)  SOLECTRON CORP (SLR)  Spectrum Control Inc. (SPEC)  TIBCO (TIBX)  Winnebago Industries Inc. (WGO)Economic 1:30 BST Initial Claims 06-Dec Exp 340K Prev 352K 13:00 BST Leading Indicators May Exp 0.4% Prev 0.1% 15:00 BST Philadelphia Fed Jun Exp 25.5 Prev 23.8		Economic

copy of Tom Hougards email.

Good morning,



It really does smell of manipulation. When is the last time you saw the Dow have a range of 38 points? The average range over the last 4 years has been near 120 points.



It stinks of manipulation.



The market is going nowhere but we are still above the crucial 1132. As long as this holds the bulls are in control and the bias is for higher prices. There is no real discernable trend and no real patterns to go by. At the moment it is much easier to day trade. I had, as you know, yesterday as a strong DOWN day. Instead I got a flattish day with a tiny range. A break of yesterdays lows should see more downside but I really have not got that in the chart until Friday. As a matter of fact I am beginning to think that as long as the SP500 September contract is holding above 1132 we could see another attempt to push up towards 1143. I got Friday as a very weak day with lower prices.



For now I would be cautious trading this market. I am not bullish here but I would prefer to short the SP500 on weakness below 1132 and preferably below 1128.



The NASDAQ looks like the weakest link and I do subscribe to a system which I have no idea how it works (actually it was my boss who wanted it J ). Anyway this system went short the QQQ, which is the tracker stock for the NASDAQ 100, yesterday. I have not really followed because I dont like to follow systems that I have no idea how works. For all I know they could be flipping a coin.



The DAX cash chart looks like it is ready for a correction. There may be another push higher today towards the 4040 area. A move below 3990 should initiate more downside. A break of 3933 is confirmation of the downside.



I am attending a seminar tomorrow so there will be no analysis.



Have a nice weekend and be careful in this market. The market can explode higher on this manipulation.



Tom

Morning all! More churn churn. nice results from GHH, doubling profits, recovery story underway, real good value. I don't hold but considering.

After two seconds and a winner (Mine 16/1) from four picks, hoping for another good day today and my main fancy, Estates Dilemma (20s) plus Privy Seal, Sasoof and Settlement Craic make up each way lucky 15 all nice prices. Win or lose will be 'talent-spotting'!!

In the other two races i expect Papineau and Blue Dakota to go well.