Premarket Futures

FTSE -5

DAX +-

DOW -20

S&P -2.7

Nasdaq -2

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The Dow Jones recovered from afternoon weakness to finish up 3 to record sixth consecutive days of gains. The Nasdaq closed at session highs, up 19 points. McDonalds, Tyson & other meat producers may be hit as the first U.S. case of the mad cow disease has been found, causing overseas buyers to ban American hamburgers and steaks U.S. Defence Secretary Donald Rumsfeld says the threat of possible year- end terror attacks against the United States is serious, while other parts of the world are also on alert on Christmas Eve. Parmalat is poised to file for bankruptcy protection in an effort to survive a seven billion-euro hole in its accounts No major UK news today: UK stock market closes at 12:30 and most of the European markets are closed all day. Merry Christmas to all on Money AM

Calendar: United Kingdom	United States (GMT)	Europe & World (GMT
Markets Close at 1230	13.30 Nov Durable Goods Orders 0.8% exp. 13.30 Initial Jobless Claims (w/e 20/12) 355k 15.00 Nov New Home Sales 1120k exp. Markets Close at 1800 GMT	Germany & Spain closed
Ex Dividend: Albermarle & Bond (1.75), BT Group (3.2), Close Brothers (3), Enterprise Inns (11.4), Expro International (3.8), Greene King (9.5), PHS Group (0.22), RPC Group (2.15)

Croc@SnappyTrader.com  WWW.SnappyTrader.com

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Updated 12/23 for Wednesday's market.
Key DOW Levels for 12/24
UP Above 10,375
DN Below 10,290

Channel Bound
Dow trades within channel. Watch boundaries tomorrow.

From prior commentary, "...Dow is likely to continue sideways within the sloping range before any such break is seen, as this is a holiday week with shortened trading days on 12/24 and 12/26..."
The Dow popped up this morning and hit the upper boundary of its channel seen in the 60 minute chart, where it reversed and traded to its lower channel boundary at 10,295. It then turned up off that level to spark a late day rally, ending with a little over a 3 point gain for the index.

Looking at the 15 and 60 Minute Charts you can see the index traded within the channel boundaries at the highs. The fact that the Dow is continuing to hold onto the highs within the channel hints at further upside movement in the medium term. An upside break through the prior high at 10,375 will lead to a further move higher within the channel in the medium term.

However, since the index has formed an upward sloping channel, a break at the lower boundary at 10,305 will indicate weakness, and we can expect the market to give back a portion of its gains.


The Dow is likely to continue sideways within the sloping channel before any such break is seen, as this is a holiday week with shortened trading days tomorrow and 12/26/03.

Short Term Dow

Short term, the Dow has formed a clear trend line across the lows in the 5 Minute Chart at 10,330. A break at this level will indicate weakness for tomorrow's open.

Medium Term Dow

In the medium term, we are still Long the Dow from 10,190 and will move stops up to 10,290 for tomorrow's market. We will want to stay Long above 10,375, and will look to enter Shorts below 10,290, with 20 point stops.

NASDAQ & S&P

The NASDAQ and S&P mirrored the Dow today, as both indexes traded within their channels seen clearly in the 60 Minute Charts. We will watch the channel boundaries tomorrow for a break to indicate direction. *

Morning all,

Got a few hours to myself this morning as my sickly lot
are still putting up zzzzzzzzzzz's amongst the sniffles.

Bliss! :-)))

Have enjoyed sharing your thoughts over the past
few months and look forward to more of the same
in 2004.

Hope you all have a great festive season and that your profits
exceed your losses in 2004.

Melnibone

mornin all, Croc Tp please accept my daily mornin all implies a sincer THANKS for your daily efforts. very best wishes everybody Douggie :-))

Morning & Merry Christmas to all

Very low volume this morning. Surprised the market is up at the moment just pass 4450.

Went Long VOD first thing, and was able to close soon after.

Still have a few IOT long, and was thinking of closing this morning, but their is more support than I thought there would be so may end up leaving the position open over the holiday

happy Christmas all
Long HRN 1150 on the stooopid pullback yesterday

added PTL 108

Fundies - have a virtual license to print money with their hospital bedside terminals reaching critical mass penetration. This could be a stock for 2004 as people realise what cash machine potential it has. Talk of a deal with the NHS to integrate bedside electronic patient records could put a rocket under these. This is being trialled at the Chelsea and Westminster at the moment.

Morning all, just popped in to see whats been going on, not traded since Thursday been busy visiting friends and family plus the last minute shopping saga, now looking forward to a restful Xmas break with my immediate family.
Wishing you all a very Merry Xmas and a profitable New Year.
See you all in 2004.

Prod

Melibone - hope your 'snifflies' are better for tomorrow,I've
got one on the mend - also doing the 'Zzzzzzz' at the mo !!
MKS particularly have done well last couple of days - FTSE high
yesterday,it seems to have been a busy and fruitful part-week.

added ROK 295

added JKX 52.5

CAT you're feeling brave today! I've decided to just watch whats left of today!

and one for the stocking - NSB long at 16.5

Looks like lots of directors buying shares with the Christmas bonuses!