Gold
	S&P &Futures (Click for latest)	Pre Market Futures (7:30)
		FTSE	-18
		TechMark	-3
		DAX	+5
Hang Seng -77	Nikkei +32	DOW	+12
		S&P	+1.1
		Nasdaq	+1.5

 

News Headlines:   Bovis Homes posted an 11 percent rise in half-year profit thanks to the boom in the housing market in the north of England Profits for the six months to June 30 rose to 46 million pounds above analysts' forecasts of 42-45 million pounds. It boosted its interim dividend by 15 percent to 5.3 pence. IMI engineering met forecasts with a three percent rise in profit of 68.3 million pounds near the top-end of analysts' forecasts. They have almost finished the restructuring of the company by moving to cheaper manufacturing areas and selling non-core assets William Hill biggest betting shop chain, reported a return to half-year profits and said its second-half would be dependent on sporting results in the coming months. The company reported profits of 85.6 million pounds (after a 12.2 million pounds loss previously, compared to analysts forecasts of around 88 million pounds. Chelsfield CEO said he expected to lead a consortium takeover bid for the company by mid next month Punch Taverns said it would raise around 250 million pounds in a refinancing deal to help fund new acquisitions and increase its debt capacity. They added that current trading was in line with its expectations Taylor Nelson market research said it expected turnover growth in line with its forecasts for the full year. They reported first-half profit of 20.7 million pounds, up 8.9 percent on the year-ago period. Travis Perkins building materials firm said firsts half profits rose 22.4 percent as Britons continued their relentless building drive and demand for its products grew. Profit leapt to 80.8 million and said it would pay an interim dividend of 7.6 pence, up from 6.1p. Forth Ports Britain's third-largest ports operator, reported first-half underlying pre-tax profits in line with forecasts and said it was confident 2003 would a successful year. Profit rose 11 percent to 13.5 million pounds from 12.1 million last year with analysts forecasts ranged from 12.4 to 14.5 million. Calendar All GMT United Kingdom (F)inals (I)nterim United States (Click Flag) Monday 8th September   Reporting   Financial Data Bovis Homes (H1) 42-45m exp., IMI Plc (H1) PBT 66-68m exp. Informa Group (H1) 15-15.2m exp., Travis Perkins (H1) PBT78-84m exp. William Hill (H1) 88-90m exp. Candover, Forth Ports Plc, Georgica Plc, Nestor Healthcare Group Plc,   OxGold Plc, Project, Telecom Plc, Roxboro Group Plc, Taylor Nelson Sofres Plc, Wood Group 09.30 July Industrial Prod. 0.2% m/m, -0.7% y/y exp. 09.30 July Manufacturing Prod. 0.2% m/m, -0.7% y/y exp. 09.30 August PPI Input sa 1% m/m, 2.9% y/y exp. 09.30 August PPI Output sa 0.2% m/m, 1.6% y/y exp. 16:00 KC Fed Manufacturing Survey 20:00 July Consumer Credit $5bn exp.   Europe & World Air Liquide (H1), Lagardere (H1), TFI (H1) Good Trading!   David@FTSEDOW.com    www.FTSEDOW.com            Pivot Calculator

Afternoon all

Looks like a busy week ahead!

Me Thinks not :-)

Bolly Yes :-)

Footy Down :-(

Jeff

MON FTSE PP

R2 4282.3
R1 4269.7
PP 4248.4
S1 4235.8
S2 4214.5

Close above Fri pp, only lost 0.4pts in the auction so not much selling there!

WEEKLY FTSE PP

R2 4350.4
R1 4303.8
PP 4232.4
S1 4185.8
S2 4114.4

Close above the weekly R2 level this week,

Updated 9/5 for Monday's market.
Key DOW Levels for 9/8
UP Above 9,550
DN Below 9,450

Pull-Back
Dow pulls back off highs, holds above 9,450.

From prior commentary, "...the consolidation that is forming is more or less in the shape of a rectangle, and this kind of consolidation can break down fairly easily. A break below 9,540 will likely lead to a pull-back off the current highs..."
The Dow finally got a retracement after rallying solidly over the course of the previous six sessions. Looking at the 15 Minute Chart shows that the index broke the lower boundary of the consolidation at 9,540 and continued lower throughout much of the session.

However, as we have mentioned before, the Dow continues to look fairly strong in the overall medium term uptrend. We could see the index pull back even further before another move higher is seen. Look for a likely move back down toward the major lower trend line that has formed beneath the lows of the Daily Chart, which is around the 9,375 area. A break of this trend line will likely spark a significant push lower; but look for the index to continue trending higher above it.

The Dow has formed a short term trend line above the highs of today's downmove, seen in the 15 Minute Chart. An upside break of the line at 9,525 will likely spark further upside movement. A break above the recent highs of 9,610 will indicate even further strength.

Short Term Dow

Short term, we will watch the trend line that has formed across the highs of the 5 Minute Chart. An upside break of the line at 9,520 will likely spark a move higher tomorrow morning.

Medium Term Dow

In the medium term, we closed Longs this morning at 9,535, giving us a 54 point gain for the trade. We later entered the market Short at 9,528, and are still in the position. We will continue to hold breakeven stops for Monday's market. Stay Short below 9,450, and look for Longs above 9,550, with 10 point stops.

NASDAQ & S&P

The NASDAQ and S&P each pulled back today, taking modest loses for the session. The NASDAQ has formed a clear range at the highs, which we will watch closely Monday. Likewise for the S&P. *

Summary

The Dow got the downside break from the consolidation today, which costed the index 85 points today. The index continues to look strong in the medium term, but we will likely see a further retracement before another move higher is seen. Watch 9,450 down, and 9,550 up Monday.

Morning all

Morning! Still short BRBY BARC long LLOY.

Decided to have yet another change in strategy. (Keeping up with the times!)Spent the weekend deleting all my limit sell orders. I've now decided that I need to try and maximise my profits, and possibly hold shares a bit longer than a few days! So I'm now going to use stop loss orders to lock in the profits if the price drops, and if the price continues up, I shall keep the share!

Druid2 - are you holding PRU shorts? I noticed first thing they had dropped again, but they seem to be recovering.

I'm long Lloy too!

looks like TWT is definately going up today (buys order book is look pretty good). Hopefully enough for me to make a nice profit on the ones I bought last week when I was on a roll!

good afternoon all, i am new to all this and i have been reading your various comments over the last few days realising i have a lot to learn! Is it worth it though? I assume that you - little woman and jules99 for example- are full time investors. Do you make a good living out of it, or is that too indelicate a question? I have no real feel for what sort of money one could hopefully earn from share trading...sorry to sound so ignorant, I suppose I'm a babe in the wood...it looks like some of you have been doing this for donkeys years so it must pay its way?

Hi ianflemming

No I'm not a full time investor (wish I was) and I still work for a living!I'm lucky to work from home on and off, so trade if I can on those days - and then find I have to work on the weekends to make up for lost time! Personally I can't earn enough working so trade for the little extras in life, and spend about 50% of what I make. I try and reinvest the rest, as I need to think of my future and hopefully create enough money so I don't have to work anymore!

About 25 years ago, the father of a friend of mine died leaving her mother (who is still living today) a share portfolio which provided her with a dividend income of over 35,000pa then. (His two children also were given 75,000 in shares which they both cashed in and put into property). He had put all his spare money into shares over 40 years and even today, many people would be happy to receive annual dividend income of $35K. I know I would! Something to aim (rather than dream) for!

hi all

quick quiery regarding MBF(mobile future) in shares magazine director dealings pg 58. it refers to one of the directors spending 1 million on shares at 0.25p per share, but at quantity of only 4 million shares bought should the cost not be 100k not 1 million. (big misscalculation by someone at moneyAM i think.

especially for such a small highrisk company.

IBM in the States has been upgraded today by Credit Suisse, so keep an eye on the Tech stocks over the water and here

thanks little woman. I have a long way to travel!

ianflemming
Welcome!

sold TWT at clearing 15% profit - not bad considering when I purchased them last thursday I thought it was a mistake! Think I will leave well alone now!

excellent result, littlewoman! Good trade!

Woolworths report on Wednesday and its believed that profits will be sharply down due to a slowdown in chocolate confectionary sales during the hot summer.
So it might be worth keeping your eyes on Cadbury for a tasty short.

Well done little woman!

Thanks - its great when a plan comes together - even by accident! Did someone once say that sometimes it is better not to know anything about a company??? (What I know about TWT, I would not normally touch them in a million years!) I managed to use what I learn't at the meeting we had in the south to do it!

Thanks Mike, David, & David! (Sorry chq not in post, because I need to go shopping with it!)

A happy ending...

:-)