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US stocks moved higher in late-session trading leaving the Dow up 57 at 9930 the S&P up 4.99 and the Nasdaq up 8.55 EasyJet said it carried 1.7 million passengers in November, up 14.6 percent on the same month last year and said its passenger loadings in November were 81.5 percent, up from 80.5 percent. P&O said trading for 2003 was still in line with comments made at the time of its third quarter trading update. News will be posted at approx 7:35am Berkeley Group property posted a 3.5 percent rise in interim profits, above estimates, and said the property market continued to be uncertain, especially in the southeast. Profits were 116.8 million pounds with Analysts estimates between 100-115.5 million pounds.

Calendar: United Kingdom	United States (GMT)	Europe & World (GMT
Arla Foods (I),  Berkeley Group (I), Bristol Water Holdings (I) Associated British Foods (AGM), P&O Trading Statement, EasyJet Nov Traffic Figures French Connection Split Expected Ex Date. Terms are 5 shares for 1 RegUS Rights Issues. Terms are 1 share for every 3 @ 28p	13.30 Nov Non-Farm Payrolls 150k exp. 15.00 Oct Factory Orders 2.2% exp. 20.00 Oct Consumer Credit $5.0bn exp.	11.00 Oct German Preliminary Industrial Production m/m 1.3% exp.

Croc@SnappyTrader.com  WWW.SnappyTrader.com

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FRI FTSE PP

R2 4402
R1 4390
PP 4380
S1 4369
S2 4360

Cllose on Thu was below the pp after loosing a hefty 7.2pts in the auction! Short term ftse chart(5day) still forming a pennant, brk tom as it has run out of room, 4370 down,4390 up for a clear breakout imho! (R1/s1)



Updated 12/4 for Friday's market.
Key DOW Levels for 12/5
UP Above 9,950
DN Below 9,850

Still in the Range
Dow stays within trading range, ends day above 9,900.

From prior commentary, "...The afternoon downturn could prelude an even further decline tomorrow, especially if 9,830 is broken to the downside...Otherwise, the index must break through 9,950 to have a chance at 10,000..."
The Dow was able to hold above the 9,830 level today, which forced the index to hold at the highs within the boundaries of a wide trading range that has formed from 9,830 to 9,950, seen in the 15 and 60 Minute Charts. The Dow made a solid move higher late in the session, which pushed the index into positive territory and above 9,900 by the Close.

The index has shown bouyancy as of late, and continues to hold at the highs right at the key 9,900 resistance level. Such activity is pushing the index back into bullish mode, especially if the index continues to consolidate at the highs. An upside break through the top of the range at 9,950 could lead to a move to the major 10,000 level.

Otherwise, look for the index to continue to trade witin the range boundaries until a break either way is seen. A break below 9,870 will test the lower boundary of the range at 9,830. A break here will indicate an even further decline.

Short Term Dow

Short term, the Dow broke a clear upper trend line late in the session, which implies an upside continuation tomorrow morning, seen in the 5 Minute Chart. If the index can continue to hold above the break point (9,920) look for further strength at the Open.

Medium Term Dow

In the medium term, we are still out of the market, since none of our entry levels were triggered. We are will watch 9,950 up, and 9,850 down tomorrow, with 20 point stops.

NASDAQ & S&P

The NASDAQ and S&P each traded sideways-to-down for much of the session before finally reeling off a solid rally late in the day. The upside push could lead to further strength tomorrow. *

Summary

The Dow traded sideways within the range boundaries today, ending the session higher off the strength of a solid late-day rally. An upside break through the top of the range at 9,950 will make for another advance, while a downside break through 9,850 will signal weakness.

morning all.

Morning, See many of you later at the MoneyAm Xmas do!
Canary Wharf takeover by Morgan Stanley confirmed,

Morning all,

I don't expect much this morning. Market focus, all week,
has been the US payroll number at 1330 Hrs.

If it's good and not already priced in, we may make an
assault on the resistance levels that everything is bumping
up against. I won't be concerned if I miss any of it, it usually
comes back to test it as support at least once before moving on
giving you a second chance at an entry point.

The real danger, as I see it, is if the number is weak. The markets
will use it as an excuse to sell off and take profits.

Working on the above plan, I will look for a few scalps this morning
but aim to be out of them before 1330 Hrs. I won't be taking on any
new position trades before we get the numbers and the market reaction.

Melnibone.

mornin all

Morning all. Thanks Croc & TP. Nice to see EZJ & ETL holding their own and creeping up slowly. Let hope it'll continue.

Edit later - I see that EZJ has slipped back a bit now.

Morning all,

Running late, supposed to have left 20 min to drive to where I'm staying tonight before catching a train to London Bridge for the MoneyAm Xmas do!

I'll just have to get there, when I get there - hopefully no problems with the M25 anticlockwise!

Well unless I am regularly watching a truly bad batch of 20 or
so shares it would appear to be a pretty naff morning
- a whole screen of red!!!
Enjoy the lunch those of you going, doesn't look like you will be
missing a whole lot in the meantime.
Smuggle back a turkey leg, a bottle of something good
and a bit of pud' for the rest of us!!
Cheers!!!

Us rsults not so good and with the fall preopen could give an interssting day.So better get the double edged knife out ready.(melnibone better make that a sword "excalibur")
rgds
zarif

Us job figs not good, dollar not great - I take it it's going to be
a quiet to disappointing finish to the week on the markets then.
If you're 'playing' the DOW today - good luck..

Stockbunny:
I had a short on yesterday Jan dow when i went to Leeds at Tims Yorkshire meet and closed it preopen when it plummeted down.Also i have a long open EUR/USD from yesterday which so far is in credit -but am leaving it running as its an uptrend and the dollar getting pasted.

Ym: just watching the action not in battle -on the sidelines a spectator atm.
rgds
zarif

Hi all, just logged on again after a bit of Christmas
shopping.

I see the jobs number wasn't as good as expected and my
fears about a bit of profit taking has come true.

Although the data wasn't as good as expected, it wasn't bad.
Unemployment rate has actually dipped to 5.9%.

This should keep the Fed on hold for a bit ref interest rates.
This will give stability to the bond markets and keep the Dollar
depreciating in a controlled manner.

A dip now could give some buying opportunities for a Christmas
rally. Not sure how much of one, we need better data than this
to break indices resistance levels and start a new leg up.

As zarif said, could get interesting.

Melnibone.

FUTURES UPDATE : 9.25 E.T.

S and P vs fair value : 4.2

Nasdaq vs fair value :14.2

Futures market continue to trade with bearish bias,and as a result,the cash
market should start the day firmly in negative territory.
rgds aj

Hi Melnibone.Gold is depreciating ? Why would the dollar depreciate ?rgds aj

Ref : Unemployment data.See my post on Gold price and my view gold will drop
below 400 rgds aj

Basically,the experts predicted the results and that is why gold dropped
before the event.rgds aj

Dollar will depreciate because the Fed will keep
interest rates at low levels. With the effect of
inflation, this means a negative return in real terms.
If the Fed raise rates too soon it will stifle spending,
increase debt repayments, and risk deflation rather
than dis-inflation.

Crudely put, you get more bang per buck with investments
in places with higher rates.

Gold and commodities are are an alternative investment
if you are not convinced about an economic revival in the
long term. They are also a finite item. Mother Earth
isn't making any more of the stuff any time soon.

Melnibone.

Ref above my post below 400.
My prediction was correct i.e.New York Spot Price low was 399 rgds aj

If dollar going to depreciate Gold would be going up -- not down rgds aj

Gold supply/mines are virtually infinite.