Good morning traders!

The US market closed near session lows, erasing much of last week's strong performance in just one day, as surging oil prices helped fuel broad-based consolidation efforts that closed virtually every sector in negative territory...

The Dow closed down 166.49 at 10,421.44 with the Nasdaq 21.37 weaker at 2,070.66 and the S&P500 off 13.15 at 1,200.73.

In Asia this morning, the Hang Seng closed the morning down 25.21 at 14,165.23 with the Nikkei last trading down 47.42 at 11,529.33.

Oil stood at $59.74 a barrel, up 32 cents from its overnight close of $59.42 in New York.

Off to find some UK news.....

Happy trading!

G.

TATE & LYLE CUT TO 'UNDERWEIGHT' VS 'EQUAL-WEIGHT' AT LEHMAN BROTHERS

AB FOODS UPGRADED TO 'OVERWEIGHT' VS 'UNDERWEIGHT' AT LEHMAN BROTHERS

NEXT CUT TO 'IN-LINE' VS 'OUTPERFORM' AT GOLDMAN

MYTRAVEL UPGRADED TO 'BUY' VS 'HOLD' AT DRESDNER

Investors Chronicle :-

TIPS - LARGE COMPANIES: EMI (sell), ALFRED MCALPINE (buy), BIG YELLOW (sell)

TIPS - SMALLER COMPANIES: CHORION (buy), DWYKA DIAMONDS (buy), NEXT FIFTEEN COMMUNICATIONS (buy)

TIPS - UPDATES: IDEAL SHOPPING DIRECT (good value), REAL GOOD FOODS (fairly priced), HBOS (keep buying), UK COAL (good value)

Good Morning all

HBOS - keep buying? I been looking to sell sooner rather than later, should I rethink?

little woman - IC is always right, as you know.... ;-)

GWP
The chart is looking very positive at the moment, specialy after yesterday's rise.

Indicators rising as is the share price, MACD is the one now almost in play as the "blue" line is ready to cross over by Monday on he way UP.

Today's share price drop, could be a "T trade" sale to be reported later, otherwise there is no reason for it as the buys outnumber sells by 3 to 1.