Next Meeting:- Thursday 4th December





19:30 at Crowne Plaza, Wellington Street, Leeds eating at the hotel Boccagrande Restaurant.

Hello Priest,

Remember me - New Skills last month - I'm going again on Thursday and as it's options etc this time I might be joining your meetings in the not too distant future.

Regards

Angi

Ladies and Gentlemen,

Next Thursday is our next meeting - 2nd October at our new location, The Crowne Plaza on Wellington Street, Leeds. Start at 7:30pm, eating in the Boccagrande Restaurant in the hotel. Please confirm if you are coming so I can book a table.

A couple of weeks ago I went down to E*TRADE in London - they had a seminar from a professional trader called Nigel Hawkes. His methods are interesting, aimed at the medium term trend follower i.e. those that are looking to catch the bigger moves. He talks about the 7 ways in which a market can trend and also covers the concept of energy points which can be used in helping to identify a trend early. I have incorporated these ideas into my own trading and have found them quite beneficial inasmuch as I can add to my position with confidence and I am less likely to be shaken out of a position on a minor reaction.

Nigel has offered to come to Leeds in January if we want him - if we can get 10/15 people, we could do it for 120 a head. Let me know what you think.

Market Review

FTSE100 - Last meeting (4th September) it closed at 4229. It continued to rally up to 4330 on the 17th but it didn't seem to like being above 4300 only spending three days there. Since then it has retraced and printed a low on Monday of this week (22nd) that was below the two previous lows on the daily chart. This is not an encouraging sign - as yet the weekly chart hasn't confirmed the change of trend.

Dow - Last time we were nearly at 9600, currently we are below that but above the low of 9350 on the 12th September. The uptrend is therefore intact.

S&P 500 - Last time round we were at 1028, rising up to 1040. The last two days have seen us drop below that and we have printed a lower low today which is a warning sign. The S&P has done this before on the daily chart and rediscovered the uptrend, the weekly chart still indicates rising prices.

NASDAQ Composite - After a bullish August, the Naz gave back a little shortly after our last meeting and then went on to print a higher low. Between the close last Friday and the open on Monday it gapped and formed a slightly lower low before recovering on Tuesday. The last couple of days have seen further falls but the weekly chart is still bullish.

Gold - the yellow stuff continues to rise. Last month it was $375, at the time of writing it is $386 and at one point today it got over $393 - the last time it was this high was August 1996. That particular high has provided some resistance today but I would expect to see it re-tested over the next few days and it should the breach $400, possibly to as high as $417.5 which was the February 1996 high and also the highest point since 1990. If we get there, I am expecting a sharp correction but as always, wait and see.




Hopefully I'll see plenty of you next week...

Regards,

Tim (aka ‘The Priest’)
tim@coachhouse.co.uk

Excellent meeting last night.

Next one is Thursday 6th November, same time, same place.

Regards,

Tim (aka 'The Priest')
tim@coachhouse.co.uk

Tonight's the night!!!!!!!!!!!!!!

Tim
tim@coachhouse.co.uk

Just a reminder that the Yorkshire Traders Group meets once a month in Leeds at the Crowne Plaza on Wellington Street. Next meeting is Thursday 4th December.

Regards,

The Priest
tim@coachhouse.co.uk