A broad based drop in shares and a weak start on Wall Street also pressuring most markets saw the FTSE 100 ending down 33.2 points to 4,360.0 -- just above its mid afternoon low of 4,357.4. It was the index's second lowest finish since March 26.

All the wider indices were down, whilst volume was average at 2.3 bln shares.

In the US things looked negative until the oil price dropped and the markets went up. David2000 keeps on about the price of oil and today it certainly proved to be the trigger for an intra day rally today. The DOW closed up and the NASDAQ whilst closing down was well off the lows of the day.

So all looks set for a positive day tomorrow in the UK.

As Melnibone in the Investors room commented: -

I don't know when or which direction we'll break, nor, I suspect, does anyone else. Osama could cause a drop, US election year could cause a rise. Maybe we get both, who knows?
That's the point, we don't know the future.
So if you are in a range, then play the range.
If we enter a trend, then play the trend. Just be careful with your entry points and stops and don't try and get greedy by calling a change before it happens and try to take all the move.
Wait for confirmation and take some of it.

Good hunting
Plagiarisng on Oxon

PS
matt125 Thanks for email but unable to reply through internal Moneyam system.

morning all

Morning all.

Brewin Dolphin CEO on Bloomberg says market is stable but not dynamic, not expected to collapse, but has summer time blues!

Not a direct quote but the essence of what he
was saying.

About time someone had a go a RTO again now that the bid speculation has died down and the price has dropped.

I do hold a few bought at a bargain bucket price from a boot sale.

Still hold PLR, no longer know why!

Holding loads of SEY and very happy for the time being, also HNR and reasonably happy both longs.

Other bits not worth a mention just now.

Now going for a long walk!

Morning all from a sunny North Wales. Sell in May and go away seems be true again this year but I feel that the market will be higher in October/November. We will have to wait and see.

Morning all.

I appear to be long AQP, JKX, MER, MRS, PLR, RPT, SBT and short FTC.

Have a very good day indeed.

Druid

That is again more or less what he said in a mixed way with words.

morning all,its going to be another dull day on the markets.

druid 2,have you been up to llangollen.

I'm not seeing a lot of action either way, but am tempted to have a few more MER. Yesterday's buy doing OK and it was marked up pre-open, which is nice. Can't find any press coverage to have driven it, though. Only 1 MM on the offer 2p below the rest so it's tempting.

BTW, put some thing together for HKfooey last night on SS datamining with MA's. It's in Word format so if anyone wants a copy then message me your email address.

What was that all about? All my stops got blown.

mornin all

dd - Went to the Llangollen International Eisteddfod last year but did not go this year. Certainly worth a visit.

Morning all.
Looks like low volume messing about again.

To stay in the range we need to close above 4300. Below 4300 will start
to look Bearish.

To make this a low in the current range we need to close above 4400 and
start to move on to explore the top of the range again.

S&P will guide us which will be influenced by the Nasdaq.
S&P needs to hold above 1100 or it will explore the lows circa 1070 and
take the Ftse below 4300. Unless the S&P breaks through the 1119/1121
area and heads towards the 1128/1132 resistance I can't see the Ftse getting
above 4400.

Ndx needs to hold 1420 and the Composite 1900 to keep us in the range.
Only start to feel Bullish if they break above 1480/2000 respectively.
With the SOX in a downtrend and the semi-conductor sector having
been downgraded to sell by the Brokers, I doubt this will happen
without some positive geo-political news or some blow out earnings.
In-line earnings won't be good enough. That's already more than priced
in.

Melnibone.

GSK exploring the March lows.
IMHO, if the Ftse tests/breaks 4300 this will cause GSK to break these lows
and go to test the 1000p target I've been mentioning for the past few
months.

Melnibone.

AVZ now approaching the March 2003 lows as I pointed out last December.
Even though the Brokers managed to talk it back up above 400p last
Christmas so they could exit their positions.(How do they sleep at night?)

Melnibone.

JKX has broken up on a decent bit of news this morning.

sw - you will have mail at some point! ;-)

druid,to right.

23.50 could be key.....

Melnibone

nice to see you still watching GSK. have closed my short (maybe a little early) and am looking for an entry point for a long. Any support around 1050p will be a signal for me to start buying, if it reachs 1000p and holds then im piling in!

sw - mail sent.