Evening all.

Looks like I made the right decision to take the GSK profit. Nice drop
this afternoon. Will wait to see what Greenspan has to say and the US
reaction before making a decision to buy them back again.

My MRW have dropped 0.75p including the spread. So not much
damage done there.

I see the alternate Telecoms, CTM and THUS, are still drifting down
as I suggested they would. 15p should give direction for THUS, if it
gets there to test it.
CTM could test the 28/30p lows unless it attracts some buyers soon.
Must be about time for someone to start yet another takeover rumour. :-)

The market looks like an oversold bounce off support to me. US will decide
how long and how far it goes. We aren't out of the woods yet.
Institutions, which move these markets, will probably wait to hear
what Greenspan has to say before commiting their funds. If they don't
like what they hear, the only buying pressure will come from Bears taking
profits and bottom fishers.

Still, range is still intact and we don't seem to be gurgling over
a cliff just yet.

Melnibone.