JJ50

Good to see Dana finally starting to take off. The psychological 300p barrier has now been broken and it is well and truly out of the sideways range it has been stuck in. Lets hope this is the start of a re-rating based on last years results esp cashflow and future prospects - or has a drilling report been leaked?

Tom Hougards thoughts for todays market.
rgds
zarif
Good morning,



Thursday was a bit of a disappointment for the bulls but there was no real damage done to the chart. I hope some of you caught the 18:00 turn which came in bang on time. We are still bullish above 1132 and this can now be extended to 1138. I think we are in the quarter-end mark up period but I dont think institutions intend to take stocks too much further. There are 4 days left of the quarter. Today can go either way and I will favour the long side above 1138. There are clearly some items on the exogenous agenda that can and potentially will shake the market a little. The FED meeting is next week, and the Iraq handover is taking place. You also got the Russell 2000 re-weighting in this major index which will require some adjusting of the big portfolios.



I will keep todays analysis short. I dont see any real reason to be bearish right now. It was mixed bag yesterday but stocks like Goldman Sachs, Bank of America, Citi Group and Lehman all had good reversals and the strength in the financials is usually a good sign for the general market.



For today I got another 18:00 UK time turn. I wont be trading of course as I will be warming up shouting and cheering for Denmark. J



Have a nice weekend.



Tom

Melnibone - thank you much appreciated! I'll just sit here
with my ears and fingers all crossed, only need a tad more
of a rise and I'll jump ship..

Hi guys and Gals,
I have put the link for Livecharts on the header on the dow thread. Check it out and let me know as its quite nifty.

rgds
zarif

Fundamentalist - thanks. It would be nice if there was good news. Bit of predictable profit taking now but I plan to hold for the time being.

zarif,
Just checked out your Livecharts and rather "nifty" if I may say so. Thanks

I agree with jj50 - I only trade UKX, Dax & CAC (and occasionaly AZN) & now I have a good source for free Dax & CAC I don't need to bother with Sharescope.

If the guy on channel 4's news is correct, ANL is rising due to
a rumour that our friends in Spain will come back and make another
bid for it...so this could have a way to run yet powered simply
on the mutterings around the city.

JJ50

i plan to be holding for a lot longer than the time being! The fundamentals are excellent and the chart has now broken out - very little downside imho

Stockbunny, Bloomberg are running the same ANL story.

Melnibone.

Thanks Melnibone that's interesting to know, it's anyone's guess
on where this price is going - the intraday chart looks more like
a 'normal' company's 12-month chart! (Real yo-yo territory)
I'm holding these through an 'older method', so I'm playing this
'by hand' so to speak no stop-loss etc and the need to phone up to sell.
But (shock-horror!) I am in the process of moving holdings over
to an internet dealing account - Yes the bunny finally enters the 21st century!
(lol)

Well done bunny! Come and join us in the 21st century. Internet dealing is really not just cheaper but just so much easier. If I can do it, you can do it!

Having checked it out I must admit I'm impressed and the saving on
costs was really the main reason for me - cuts the margins to break-even
considerably. Will still hold a few (real long-term holdings) on paper
as I'm unlikely to sell those in a hurry. Anyone else out there who's
slightly nervous about going into electronic trading, it's not as scary
as it looks! (and that's from someone who refuses to buy/own a mobilephone....
I know sad isn't it!)

Word of warning, Stockbunny.

It's very, very easy to click a mouse instead of phoning
somebody up.
Be careful that you don't overtrade or get caught up in
following the intraday ticks to the detriment of your
medium and long term trading strategy.

You'll tear your hair out if you get caught wrong footed
by the games the traders get up to.

Melnibone.

Very true Melnibone, don't worry I have a cautious streak.

Just listened to the ANL update story on Bloomberg.

Rumour is that Santander is selling down its stake in RBS
and buying into ANL.

If it's true, this may also answer my question on why
RBS keeps dropping below 1620p.

I hate it when stuff seems to fit so logically like that.
I always get the feeling that I'm being manipulated.
I'm a fully paid up member of the Sceptic Society. :-))

Melnibone.

Isn't that the beauty of charts though Melnibone? I only trade on TA because imo on a short term basis price is the only relevant information.

Seeing as ANL is supposed to be a bid target, there seems to be
rather an indecent haste in taking profit today.

Beginning to sound like the games that regularly pump CTM up
and down.

Melnibone.

Morning...........well it is here.

Flight home today so will be around from Monday.

Still running longs on JKX, MRS and short WHT. All have done very well this past couple of weeks so really happy.

Hope you're all doing fine. See you next week with any luck.

Looks good for a long