In the UK the FTSE 100 had a good day boosted by a strong rise on Wall Street in early trading and strength in mining and media stocks, despite yet another spike in the UK price of oil.

The FTSE 100 closed 48.7 points higher at 4,350.2, off highs of 4,350.4, with the broader indices mixed, but volume was thin, with 1.87 bln shares changing hands in 165,413 deals.

As the bell sounded in London, on Wall Street, the Dow was up 108.98 at 9,934.33 with the Nasdaq Composite ahead 25.65 points at 1,782.87 and the S&P500 up 11.99 at 1,076.79 points.

In the US the markets, having risen strongly at the open, spent the rest of the day going sideways shrugging off concerns over oil prices.


The DOW closed up 129.2 at 9954.55
The S&P closed up 14.54 at 1079.34
The NASDAQ closed up 25.62 at 1782.84

So is the market calling a top to the price of oil and factoring in a return to lower levels?
Are we just in a relief rally?
Certainly a sustained rally in the stock markets does seem well over due.

Good Hunting
Doing due diligence of Oxon

Morning punters.

CGS - profit warning.
http://www.uk-wire.com/cgi-bin/articles/200408170700010023C.html

HHO - holding their own in a tough market?
http://www.uk-wire.com/cgi-bin/articles/200408170700010073C.html

MIC/SKP - SKP exercises option, good for MIC
http://www.uk-wire.com/cgi-bin/articles/200408170700040234C.html

LTG - reduced losses once more, bullish looking ahead.
http://www.uk-wire.com/cgi-bin/articles/200408170700040242C.html

MRP - looking for future cashflow.
http://www.uk-wire.com/cgi-bin/articles/200408170700050243C.html

BPRG - acquired more film-producing machines.
http://www.uk-wire.com/cgi-bin/articles/200408170700060246C.html

AML - looking solid.
http://www.uk-wire.com/cgi-bin/articles/200408170700060260C.html

TGN - new contract and results.
http://www.uk-wire.com/cgi-bin/articles/200408170700060263C.html
http://www.uk-wire.com/cgi-bin/articles/200408170700060264C.html

AGL - these results look very good. Small compnay, newly listed.
http://www.uk-wire.com/cgi-bin/articles/200408170700070266C.html

News a little thin on the ground this morning.

I'm running longs on HTG, MNA, MNZS, TIG and short RST.

Have fun!

Morning all.

This looks to me like it may be the pullback we have been waiting for, assuming that 4290'ish support holds. Personally I'll wait till it confirms by closing above approx 4425, or alternatively if it closes underneath 4290 I'll short it. All imho, nag etc.

Morning all,

Just droppped in to see if anything interesting is happening, and it certainly
looks like it.

Off to check out the heat maps - love being able to see my stockwatch heat maps.
(Especially as I can't actually see anything with streaming - java problem!)

LW,

With regard to your Java problem - anything we can help with?

Ian

Morning all.

For the Ftse to continue to rally, the S@P needs to go through 1080.
For the S&P to go through 1080, you need oil to drop and the the SOX
to rally and thus rally the NDX.

If it doesn't, this bounce fizzles out, prints a lower high, increases
negative sentiment, and we continue the Bear trend.

That's my simplistic view of the situation.

Melnibone.

Ian - I think its the software on the system I'm using. When I bring up this site
I get a box with "password needed - networking"
"firewall: unknown site" "realm: ntlm"

It seems to be on my machine, and no one elses!

Oil dropping, S@P futures above 1080, CPI data was benign.

Good possibility of this bounce continuing if the market
follows the futures.

Melnibone.