long lol? needle in a haystack moony, try ghh, wkp or pdg, all in uptrends ghh had fundamental good news in last results, could try ubm with stop 450...what kind of compo is it that u cant hedge - come back lemmy ! If u believe the bottoms in arm always good fer a punt. Pharma ub48 sector could be bottoming azn and gsk have moved off their lows...then again most looks a bit fooked out there.

found you , think tpb's talking to himself over there

maybe we just go long 1 share of some penny stock then we just stay cash

Phew -sigh of relief -managed to get out of cable long today with 30pips upfront after tearing my hair out yesterday. I bet now it rockets up.Have u noticed that the whole "game" changes as soon as u put on a real position?

rgds
zarif

them unigmas all came good so far today , think i'll wait for next off day then start trading the next day

evening...

well whenever I've gone against the unigma trend I've lost fwiw....

i'm not going against them chiro but it looks like they have the odd off day so was gonna wait for them to have an off day then go with them from then on , been watching them for a couple of days and i'm reasonably impressed

Chairman Lao:
Nice to have your accquaintance (spelling wasnot my best subject).
If you dont mind can you let me know what FWIW stands for and LOL as a lot of people use it and I honestly dont know. As they say if you put your hand up and ask you may look a for fool for a minute otherwise you will be one forever.

rgds
zarif

sounds like a reasonable tactic CL - good as any!

zarif - 'for what it's worth' and 'laugh out loud' (could be lots of love but I'm guessing not!)

i used to think it meant lots of love , got a bit weird sometimes when i first used the bb's , chiro i think most people are posting at khalsas pad now

Chiro -thank you very much-learn something new everyday.

What instruments do you trade. Me i do mainly the Yankee market indices -dow and SNP and forex.

rgds
zarif

moonie,makes sence keeping mainly cash,after all were all bears at heart.

Mainly forex but have a job so all time depending!

CL - where's khalsas pad?

A crowded Virgin flight was cancelled after Virgin's 767's had been withdrawn from service. A single attendant was re-booking a long line of inconvenienced travellers.

Suddenly an angry passenger pushed his way to the desk. He slapped his ticket down on the counter and said,"I HAVE to be on this flight and it HAS to be FIRST CLASS!"

The attendant replied ," I'm sorry sir,I'll be happy to try to help you,but I've to help these people first, and I'm sure we'll be able to work something out".

The passenger was unimpressed. He asked loudly, so that the passengers behind him could hear,"DO YOU HAVE ANY IDEA WHO I AM?"

Without hesitating, the attendant smiled and grabbed her public address microphone: "May I have your attention please," she began- her voice heard clearly throughout the terminal. "We have a passenger here at Gate 14 WHO DOES NOT KNOW WHO HE IS. If anyone can help him find his identity, please come to gate 14".

With folks behind him in line laughing hysterically, the man glared at the Virgin attendant, gritted his teeth and said, "Fuck You!".

Without flinching, she smiled and said, 'I'm sorry,sir,but you'll have to get in line for that too."

Well the Nasdaq is unhappy again isn't it.
Short $/swiss via sb from about 1.25

it's on msn groups chiro not sure how to point you to it , moonie'll tell you when he appears , i used a link ages ago , not sure if this'll work ,http://groups.msn.com/KhalsasPad

thx cl applied for membership....

Horizontal support held (so far) at just above 4300. Lets see what happens on contact with the ma's:

DEVELOPMENTS TO WATCH TODAY: July 23 Europe



- Japanese services unexpectedly shrank for the first time in three months in May, led by a slump in wholesale and retail trade as cold weather kept shoppers at home. The tertiary index, a measure of demand for services, dropped 1 percent from April, the Ministry of Economy, Trade and Industry said in Tokyo. The median estimate of economists was for a 0.4 percent increase. Wholesale trade fell 4 percent after posting a 5.5 percent gain the previous month. Demand for services will probably resume its growth as people spend more. Companies are hiring more workers, boosting the consumer spending that makes up more than half of the world's second-largest economy.


- The Bank of Canada signaled it's ready to raise interest rates as the quickening pace of economic growth, a rebound in exports and higher oil prices set the stage for faster inflation. "As economies approach their production capacity, monetary stimulus must be removed to avoid a buildup of inflation pressures,'' Governor David Dodge said in Ottawa after releasing the central bank's Monetary Policy Report. The central bank's first rate increase since April 2003 probably will be on Sept. 8, according to most economists. On Tuesday, Dodge kept the target for overnight loans between commercial banks, the country's benchmark rate, at a 43-year low of 2 percent.



- Microsoft Corp., the world's largest software maker, said fourth-quarter profit rose 81 percent as sales of Office programs increased. Returns on Microsoft's $60.6 billion in cash dropped, causing earnings to miss analysts' estimates. Net income rose to $2.69 billion, or 25 cents a share, from $1.48 billion, or 14 cents, a year earlier, when the company had costs from lawsuits. Revenue rose 15 percent to $9.29 billion, the Redmond, Washington-based company said in a statement. Microsoft's plan to distribute $75 billion to shareholders cut into profit as the company shifted some of its investments into low-yield, short-term securities to prepare for the payouts. Microsoft shares fell 65 cents to $28.35 in extended trading after the report was released. They closed at $29, up 14 cents, in Nasdaq Stock Market composite trading.






Equity Markets Summary -


Asian stocks fell, led by exporters such as Canon Inc. and Hyundai Motor Co., after a three-day gain in crude-oil futures raised concern that higher fuel costs will reduce consumer spending in their biggest markets. Morgan Stanley Capital International's Asia-Pacific Index, which tracks more than 900 stocks, dropped 0.7 percent to 88.31 at 11:05 a.m. in Tokyo. The regional index fell for a fourth day, on course for its longest losing streak in almost three months. Japan's Nikkei 225 Stock Average slumped 0.8 percent to 11,195.15. South Korea's Kospi index slid 0.6 percent. Singapore's Straits Times Index lost 0.2 percent.

U.S. equities finished with modest gains in a session characterized by choppy trading. A mixed bag of second quarter earnings and economic data made for heavy selling out of the gate. But both the Dow and Nasdaq rallied off multi-month lows to close in positive territory on the day. Dow +4.20 at 10050.33, Nasdaq +14.69 at 1889.06, S&P +2.96 at 1096.84

The weekly jobless report impressed, with initial claims falling by more than expected and continuing claims plunging to their lowest level in over three years. The Conference Board's index of leading indicators fell 0.2% in June, with five of the ten components giving negative signals for the month. The decline doubled expectations and marked the first negative reading since March 2003.





Equity Technicals:


- DAX Index - the index pulled back to 3800 again, but should find support anew and reinstate the uptrend after this +test of the low+ procedure. It should still make an upmove to 3940 - 3950 thereafter. The medium-term outlook remains unchanged -- expect a new upwards cycle to form, one which should go on and challenge the 4175 top further out, and perhaps go on and focus at a 4500 upside target later in the year. The idea, from here on up to next week, is not to quibble about a cyclical low, but rather start building a long stake at current levels for the medium-term haul.


- FTSE 100 Index - the index stabilized at 4310, but should advance further after this impressive +test of the 4297 low+. It should still rally towards the 4410 - 4420 target further out. The medium-term outlook remains positive still. The next upwards phase from there may kick off a new upside sequence which will go on and challenge the 4600 top, and perhaps extend gains further towards 4750 later in the year. Therefore, the idea, from here on,is not to quibble, but rather start building a long stake at current levels for the medium-term haul.


- S&P 500 - the index fell further and went to as low as 1084 before generating a rally at the close which reached 1100. The rally should continue today and have a go at the 1105 upside target, but may correct lower from there. The medium-term view remains positive however -- if 1080 holds the line, expect a new bull market cycle, may go on and challenge the 1165 top, and thereafter extend gains to 1225 later in the year.


- Dow Jones Ind Ave. - the Dow did have a go at the 9850 base, but found support at 9945. the corresponding rally has been to as high as 10,075. It should extend gains and may yet make it to the 10,100 area. The index may correct lower from there. The medium-term view remains positives nonetheless. The main uptrend should resume shortly. -- the bull market's revival waits in the wings -- and eventually, we expect to see a rally to the 10,800 top, and perhaps further appreciation towards 12,000 later in the year.


- NDX 100 - the index had a further decline to 1377 but has been higher since then, rising to 1411. The rally should extend to 1420 today,and should correct lower from there. The medium-term view remains positive nonethless -- a new bull market should go on to test the 1560 top, and perhaps further appreciation towards 1750 later in the year.


- Nikkei - the rally faltered, and we may see 11,500 after all. But this is a brief digression, as the uptrend should go further higher -- next stop is 12,200 high. We believe in the bulls' case -- a new uptrend may have already initated from the 10,450 low in May, which may have 15,000 - 15,500 as the major goal late in the year.


- Hang Seng - the index pauses for breath, but should continue to ratchet higher later, then challenge the 12,600 resistance. The market gets set for a new bull market rally. The uptrend should then resume and may target the 16,500 - 1 7,000 area later in the year.




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