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KLM carried 8% more traffic last month on increasing signs that International long haul traffic is increasing. Sainsbury shares may rise on buyout rumours. Marks & Spencer may say that growth has stalled when it reports Q4 sales later this month, Chief Executive Roger Holmes may have concluded that the recovery instigated by Chairman Luc Vandevelde has finished and further growth requires "radical change". Last week they announced they would shed about a fifth of its head office and financial services' workforce. Brascan has extended its offer for British property firm Canary Wharf by six days until April 8 Carillion (CLLN) has signed a five year agreement with railway operator Network Rail for the renewal of tracks, switches and crossings. The contract, which starts this month, is valued at around 50 million pounds in the first year. Balfour Beatty (BBY) has been awarded a number of five-year track, switches and crossings renewals contracts likely to be worth more than 500 million pounds with 113 million pounds in the first year.

Calendar: United Kingdom	United States (GMT)	Europe & World (GMT)
Burren Energy (F), Chaucer Holdings (F), Havelock Europa (F), Zi Medical (F) British Airways (Traffic Update) 08:30 Feb Industrial Production,Manufacturing Output	15:00 ISM Services Mar - 61.0	Koenig & Bauer (F), KLM (Traffic Update)

Data Download	Calendar	US Zone	HTML Edit		Currency Calc			Broker Upgrades	Director Dealings
David@SnappyTrader.com    www .SnappyTrader.com		Pre Market Futures	FTSE +5	DAX +10	DOW +12	S&P +0.6	Nas Unch	Tips & Recommendations

MONDAYS FTSE PP

R2 4512
R1 4489
PP 4448
S1 4425
S2 4385

FTSE closed above r2 and gained 3.2pts in the auction! pos weakness through 4455 imho!

WEEKLY FTSE PP

R2 4545
R1 4505
PP 4431
S1 4392
S2 4318

Ftse looking a little overbought now, pos new trading range 4430 to 4490/500! Dow next res 10500/520 the area where it broke down, pos some short term strength next week but will be looking for some weakness myself! see dow chart below!

Updated 4/2 for Monday's market.
Key DOW Levels for 4/5
UP Above 10,500
DN Below 10,400

Strong Session
Dow rallies sharply at Open, holds gains throughout session.

From prior commentary, "...The index continues to develop the upward-sloping consolidation that is forming at the highs of the recent advance...we've often seen these consolidations work out to the upside, so we will continue to monitor both the upper and lower boundaries for breaks..."
The Dow got a sharp rise at the Open this morning, which boosted the index toward new highs, seen in the 15 and 60 Minute Charts. The index back-filled shortly after the Open, but eventually established a clear support level at 10,425, which helped protect a 97 point gain.

Looking at the 60 Minute Chart shows that the Dow ended the week at the highs of the uptrend. The steady advance in the market as not been met by any significant pull-backs, therefore we will watch 10,425 for a break to indicate a likely pull-back within the current overall uptrend Monday.

Otherwise, look for continued strength above this support level. The fact that Dow has formed a tight consolidation at the highs of the current uptrend from 10,425 to 10,475 indicates further upside is very likely. Watch this range closely.

Short Term Dow

Short term, the Dow has formed a clear trend line beneath the lows of the 1 Minute Chart. A downside break of the line at 10,460 will likely make for early weakness Monday morning.

Medium Term Dow

In the medium term, we are still out of the market, since none of our entry levels were triggered. We will now watch 10,500 up, and 10,400 down Monday; using 20 point stops.

NASDAQ & S&P

The NASDAQ and S&P gapped up this moring, each holding on to gains throughout the session. Look for a continued trend higher, with the possibility of intermediate pull-backs. *

Summary

The Dow opened the session in fierce fashion this morning, and was able to hold on most of the gains throughout the day, which is positive heading into Monday's market. Look for continued strength above 10,400 Monday. Otherwise, a break below 10,400 could spark weakess within the overall uptrend.

Morning croc et al:

rgds
zarif

Hello Croc & thanks. Thanks also to TP. Been following you, Croc, for a few years now from when you were on the other side and on this side from when it started.

Good morning to all, this is one of my must read threads, I appreciate the time given by all the regulars to post their comments, thank you.

Morning all and thanks for all the Hello's :-)
Long Sainsbury on takeover news

Morning all

Nice to see so many posters, please keep posting. (You never know we may catch up with the traders room!)

I think the dealers (and some of the direct access traders) have all gone on holidays - some of the spreads are a bit wide for the time of day.

Boss of IKEA takes over from Bill Gates as the worlds richest man.

Boss of IKEA? I thought Warren Buffett took over from Bill Gates a few months ago?

Mel

Skp have finally announced the European Depomorphine deal and the price is now testing the 68p resistance. 2 more deals (hopefully) and a horrible set of results to come - could be an interesting few weeks - any views appreciated

Good news for you, at last, Fundamentalist.

As you say, one down two to go.
The shift to royalties rather than reliance on Lump Payments
should help to smooth earnings flow and allow analysts to
make more accurate future revenue flow forecasts.
This may take some of the wilder volatility swings out
of the shareprice.

Seeing as you are LTBH, I see no reason for you to change
your stance now that the deals you have been waiting for
are starting to materialise.
Just follow your own strategy, it would seem to be serving
you well enough so far. :-)

Melnibone.

ETL up 2.25p?

Thanks Mel,

The only reason I would have changed my stance was if the deals had failed to materialise yet again. As for the shift towards royalties and away from milestone paymnts is a huge advantage and will over time remove the huge volatility in results and share price. Looking forward to the next two deals and getting past last years results with renewed confidence

Anyone got any views on the CMC(D4F) changes?

I don't think that it will affect me with the way
I manage my account and margin requirements, but I'm
not entirely comfortable with signing up to new conditions
that allow them to close positions and 'Fine' me 200
for doing so.

I think that I would be signing away my legal rights to any
form of redress.

I'm trying to see it from their point of view but am struggling
to find a positive advantage for clients in this change.
And if it's not positive for clients then it must be positive
for the company.
Otherwise, why have all this negative publicity for no gain?

Any views welcome.

Melnibone.

I'm not the best person to ask about the CMC changes - as I closed my account - it was bad enough that they were able to close positions without letting you know before - and they closed everything, not just one position. But to "fine" you as well - do they want to keep business! Or are they just looking for "muppets" who open accounts, open positions, wipe them out, by closing them, then stop them from taking whats left by fining them! And in some cases creating a debt! Are they going to send the debt collectors in and blacklist people too?

I presume you are doing CFD's Melnibone? Or does this included spreadbetting?

Thanks for the reply, little woman.
I trade CFD's with them, but I think that the new rules
cover all accounts with them.

The following says to me, that if they wish, they can do
anything they want.

32.2 Following the happening of a Specified Event, CMC shall have
the right to:
(b) charge or debit the Customers Account with an
administration fee in the amount of 200.00 in respect of
each Specified Event;

......................
Specified Event means any of the following:
(k) the Customer fails fully to comply with any obligations under this
Agreement or any Contract;
.............................


5. CMCs rights to limit or close the Customers positions
5.1 CMC shall have the right, whether with or without prior demand,
call or notice, and in addition to any other rights it may have under
this Agreement:
(a) to close out all or part as CMC reasonably considers appropriate
of the Customers open positions:..
...........................................
5.3 In relation to CMCs right to close out all or part of any open
Contract in the circumstances specified in clause 5.1(a) above,
the Customer accepts that CMC may close out which of the
Customers positions and in what proportion that it decides in its
absolute discretion.
.................................................

It's probably all just 'Legalese' for their protection.
But It leaves me with an uncomfortable feeling.

Edit: Just put some dots in to show that these are clauses that
I've picked out, not the entire consecutive wording.

Hope I'm not frightening anyone here. I'm just trying to be careful.
As I've said before, I've never really had any problems with CMC
and always found them to be fair and polite.
Just can't understand this 200 charge they are introducing.
Maybe as Croc has commented, a lot of traders got margined out
recently and maybe they had some legal problems with disgruntled
clients and are just covering themselves for the future.

Melnibone.

Just cant get Sainsbury right, grrrrrrrr

Hello Crocodile and happy Easter to all

I enjoy reading this post as an aid to improving my knowledge in this great game
Unfortunately, I'm a working girl so can only dabble occasionally.
Have recently tried out this spread-betting, just small amounts, and find it lots of fun if nerve-racking. Made a small win with LLOY last week mainly due to comments read on this board, so thanks to you all

Ruthie

Poor old Bill Gates has now moved down to No. 2 richest man in the world. He's only worth $47 billion whilst boss of IKEA is worth $53 billion.