What the Sunday Newpapers say

SUNDAY TIMES - HBOS expected to launch its bid for Abbey National next month, with Lloyds TSB, Royal Bank of Scotland and HSBC considering rival offers if it does. - Vert-Eco, a waste group backed by John Gunn, Nick Leslau and Nigel Wray, plans 3 million AIM flotation this month. - Tracker has been put up for sale by its majority shareholder, Apax. - Barney's, the sex-and-the-City store. is up for sale. - Nexen, of Canada, has appointed Bank of America to investigate opportunities for the business to expand into the British North Sea - Time called on retail dynasty as Courts heads for break-upInside the City: - Lastminute.com: it's hard to see upside for the ordinary punter. Citywire Market Mole: - UK Select Mid Cap Fund controls 0.25% of Britannic.Agenda: - Santander chief checks in ready for battle - Berkeley Group's bankerOther comment: - Interview James Murdoch, chief executive of BSkyB - Berkeley Group chief Tony Pidgeley tells investors he will quit if they block a bonus package for directors - Stagnant stock markets kill off the day traders - Hedge funds: now it's shark eat shark.Special Report: - Stagnant stock markets kill off the day traders

SUNDAY TELEGRAPH- Banco Santander plans to launch a price war if it succeeds with its 8.2 billion takeover bid for Abbey National - Malcolm Glazer this week will attempt to buy the 28.9% stake in Manchester United owned by John Magnier and JP McManus - Hewlett-Packard in talks to buy Synstar for about 160 million as part of a plan to expand its European operations - Ubisoft of France emerges as frontrunner to acquire Eidos in 215 million deal - WPP Group is in advanced negotiations with Video International of Russia in a bid to create Russia's biggest advertising agency business - Pierre-Yves Gerbau has bought part of Brighton Marina for 65 million - Petrel Resources is set to become one of the first western companies to win major contracts to restart one of Iraq's oilfields - William Morrison is planning to shut some of the 52 stores that it was required to sell as part of the 3 billion takeover - The future of Eural Trans Gas, chaired by Cedric Brown, is in doubt following the loss of a Gazprom contractEquity View: - Buy AstraZeneca at 23.86 - Standard Chartered at 928p - Moss Bros at 86.5p - Kewill Systems at 54p - Hardman Resources at 89.5p - National Express at 649.5p (Look Who's Trading) - Sell Lastminute.com at 98.5p.Taking Stock with Edmond Jackson: - How to profit from spotting a recovery play (Morgan Crucible, Planestation, Advanced Technology)Business Comment: - Next: don't bet the business Wolfson - BSkyB is a cash-spewing quasi-monopoly in a growing marketOther comment: - British Energy rebels gun for Adrian Montague - BSkyB to sue EDS for 'material damages' in call centre dispute - Interview James Murdoch, chief executive BSkyB - Prudential's five bloomers - Profile Sir Anthony O'Reilly

The Deddington News Letter - Non Farm Payroll numbers shock local economy. - Unemployment leapt in August as Financial Services jobs are sourced to third world countries. - Parish Chairman says, This is a nasty shock to the local economy and we will be writing a strongly worded memo to the District Council requesting Central help in regeneration. - Action group formed (Save The Deddington One) - a spokes person said, Something has to be done. The thought of him spending even more of his free time in the local pubs is terrifying.

OBSERVER  - Google $36 billion float hangs in the balance - Channel 4 brings in UBS as it gears up for a merger with Five - Target, America's largest discount-store chain after Wal-Mart, is eyeing British retailers with a view to making an acquisition - Royal Bank of Scotland may enter 9 billion bidding war for Abbey National - William Morrison is finalising terms on a 40 million package of stores for sale to Asda. - Kohlberg Kravis Roberts is considering entering the 700 million bid battle for Grey GlobalThrog Street: - Cloudy skies for carriers British Airways, Ryanair and Easyjet - Stick with William MorrisonOther comment: - Interview Sir Crispin Davis of Reed Elsevier

MAIL ON SUNDAY - Lloyds TSB prepares the ground for a potential bidding war that could scupper the 8.15 billion agreed takeover by Santander - Tesco in talks with the Co-Op to allow it to use Clubcard loyalty points to help meet customers' funeral expensesMidas column: - Buy Premier Oil ahead of its fresh wave of explorationUpdate: - Bank some profits at Wolseley

THE BUSINESS - Banco Santander faces legal hitch on Abbey National deal - WPP Group closes in on Grey Global as Havas considers withdrawing from a deal - David Elstein, former chief of Channel 5, emerges as frontrunner in the bidding for the international operations of Hallmark Entertainment - Scottish Power has won approval from the Ministry of Defence, to build one of the largest wind farms in DumfriesshireBenchmark: - China's banks draw investors despite loan worries - The rescue of Euro Disney has never been so near, yet far Inside the Market: - Fund of the Month: Scottish Mortgage Investment Trust - Small Cap Investor: Buy Ultra Electronics - AIM Investor - Proteome Sciences is a speculative buyOther comment: - Old Mutual shows wear and tear

SUNDAY EXPRESS - Gazprom of Russia is seeking a UK partner for a plan to supply Siberian gas to western Europe via a pipeline across the Baltic Sea - Simon Burke, the retail entrepreneur, is being courted by private equity firms about bidding for Odeon Cinemas - Boots chief Richard Baker is understood to be conducting a review of the group's property assets - Sir Richard Branson is planning to launch low-cost airlines in India and China - Sir Richard Branson is set to launch a fresh bid to wrest the National Lottery from Camelot - Focus on BSkyB: is Sky at its limits? - Profile John Allan, chief executive Exel - Lastminute.com is still going places

INDEPENDENT - 7,000 back-office jobs to go at Abbey National if Santander bid succeeds - Cable & Wireless 200 million sale of UK properties. - Canary Wharf harbours vision of turning itself into a wild life haven - Interview Aiden Heavey of Tullow Oil - A rude awakening at Euro Disney.

INVESTORS CHRONICLETips:Buy Carillion (CCLN) at 190p - TV Corporation (TVC) at 84p - Invox (INX) at 315p - Solitaire (STG) at 465p Sell Intercontinental Hotels Group (IHG) at 566p and Sunderland (SUA)at 25pTip Updates: Buy Big Food Group (BFG)- Debt Free Direct (DFD) - Sell Minerva (MNR) - Stream (SEA)and Chrysalis (CHS)

SHARES MAGAZINE Plays of the Week:Buy: Nichols (NICL) at 128p - Ten Alps Communications (TAL) at 50.5p - Celtic Resources (CER) at 388p - Wynnstay (WYN) (long-term) at 201p.

Many thanks and welcome to Greystone who despite being very busy settling into his new role as City Editor for MoneyAM has found time to pen some thoughts to kick the week off

The weekend migration seems to have caused some glitches in the links I normally use for header and the weekly calendar. Hopefully this will be fixed when the troops get back to work Monday so apologies for the messy header and gaps for now.

If your finding it hard out there as traders at present then you are not alone as this article in the Times points out.
Special Report (See hard copy for full report)

Stagnant stock markets kill off the day traders

I will probably get my hands slapped for posting a link with the CEO of another site in there but heyho I need a new job soon so better grovel :)
Good Hunting
Groveler of Oxon

You can forget proof-reading then. :-))
regards

teletigger
Well found one :) Shouldnt trust spell checkers eh?
M

Who's Lynn Truss, by the way?....:-)
regards

NDX

X

X

1550

X

O

X

O

1540

X

O

X

O

1530

X

O

O

X

X

1520

X

O

X

X

O

X

O

1510

X

O

X

O

X

O

X

X

O

1500

X

O

X

O

X

O

X

X

O

X

X

X

O

1490

X

O

X

O

O

X

O

X

O

X

O

X

O

X

O

1480

X

O

O

X

O

X

O

X

O

X

O

X

O

1470

X

O

O

X

O

X

O

X

O

X

O

1460

X

X

O

X

O

X

O

X

O

O

1450

X

O

X

O

X

O

O

X

O

1440

O

X

O

X

O

X

X

O

X

O

X

1430

O

X

O

X

O

X

O

X

O

X

X

X

X

O

X

O

1420

O

X

O

X

O

X

O

X

O

X

O

X

O

X

O

X

O

X

O

X

1410

O

X

O

X

O

O

X

O

X

O

X

O

X

O

X

O

X

O

X

O

1400

O

X

O

X

O

X

O

O

X

O

X

O

O

O

X

O

1390

O

X

O

O

X

O

O

O

X

O

1380

O

O

O

X

O

1370

O

O

1360

O

1350

O

1340

O

1330

O

1320

As you can see above, the NDX has not only broken a double
bottom, it's also broken a descending triple bottom.

It's all a bit quick and knee-jerk to me. Not sure how far it
will fall, but I would expect at least a retest of 1360 from
underneath when/if it turns.

NDX will influence the S&P, which has also just broken a double
bottom, but made, not yet broken, a descending triple bottom.
That chart follows.

S&P

X

1160

X

X

O

X

1150

X

O

X

O

X

O

X

1140

X

O

X

O

X

O

X

O

1130

X

O

O

X

O

X

O

1120

X

O

X

O

X

O

1110

X

O

X

O

X

O

1100

X

O

O

X

O

1090

X

O

O

1080

X

O

1070

X

X

1060

X

X

O

X

1050

X

X

O

X

O

X

1040

X

O

X

O

X

O

1030

X

O

X

O

1020

X

X

X

O

X

1010

X

O

X

O

X

O

X

1000

X

O

X

O

X

O

990

X

O

X

O

X

980

X

O

O

970

If that breaks, I can see 1030 on the cards.
The chart is being followe by the Dow Jones Eustox50,
as can be seen in the following chart.

X

2940

X

X

O

X

2910

X

O

X

O

X

O

2880

X

O

X

O

X

O

2850

X

O

O

X

X

O

X

2820

X

O

X

O

X

O

X

O

2790

X

O

X

O

X

O

X

O

2760

X

O

O

X

O

X

O

2730

X

O

O

X

O

2700

X

X

O

X

O

2670

X

X

O

X

O

O

2640

O

X

O

X

O

X

O

2610

O

X

X

O

X

O

X

2580

O

X

O

X

O

O

2550

O

X

O

X

2520

O

X

O

X

2490

O

X

O

2460

O

X

2430

O

2400

If that triple descending bottom breaks, I would expect to find
initial support at 2550.
Which brings us to the boring old FTSE (UKX)

UKX

X

4600

X

X

O

X

X

O

X

O

4500

X

O

X

O

X

O

X

O

X

O

X

O

4400

X

O

O

X

O

X

X

O

O

4300

X

O

X

X

X

O

X

4200

X

O

X

O

X

X

O

X

O

4100

X

O

X

X

O

4000

X

X

3900

X

X

X

O

X

3800

UKX is still on a double bottom, still, believe it or not,
range bound.

Swing chart is down, as is all the others. Surprise, surprise. :-)
We've filled the gaps we left lower, as I pointed out last Sunday,
but have now left gaps above.

I wouldn't go long just yet, I need to see where the NDX and S&P
bottom and maybe carry on following them down short with tight stops.
There will be an oversold bounce as Bears take profits and the Bulls
try and squeeze them.

Still can't see into the future, so will let the market guide me, as usual,
when to turn from Bear to Bull.

Melnibone.

in the press two things catch my gaze.manu takeover? would expect magnier/mc manus to sell their stake if the price is right.morrisons to sell a shed load of shops to walmart.

For all you Bank fans, caught up in the current M&A frenzy.
This is where we're at in the downtrend channel. Note the slow
stochastic which has been pretty good at calling the turns so far.

Just to put another nail in position on the coffin lid as I raise
the hammer, LLOY, HBOS and RBS all go hefty ex-dividend this Wednesday. ;-)

Don't let any of the above put you off if you fancy a Bank or two, though.
Trends don't go on forever, and it is only my view.
Would seem to be a strange time to call a trend change though, with
all the major Indices looking like they are, and the above chart
looking like it is.

Melnibone.

Thought you might like to look at a proper Ftse chart after all my
'Noughts and Crosses' ones above. :-)

Note how the 20&40 Ma's have been criss crossing with the year's
range trading. Pretty pattern, eh? :-)
But look how they are now both starting to look after that lower
major high at the end of June. Also note the point where the slow stochastic
is now in, in relation to its cycle.

Although as said previously, I'm looking for an oversold bounce in stuff
when it bottoms, I'm not going to get longterm Bullish unless some
important resistances get taken out on good volume. I'll still be looking
for swing highs to short.

Managed to get a good few posts in this evening, to show what I'm looking
at for anyone that is interested. Now its back to the flooring for the
week with the odd post when I can.

Make your own luck. Work out your stategy of how you want to play this
in advance.
Maintain discipline, have patience, and wait for your long or short
entry points. Don't panic or jump in prematurely.

Melnibone.

Your on a roll today Melnibone

Hi Martini,

With all this work on, the weekend is the only chance I'm getting
to do any research and formulate my strategy for the week ahead.
Thought I'd share it with you all whilst I was at it.

I usually download the weeks raw data into my Psion handheld computer on
a Saturday. I can then relax in bed, propped up on plump pillows on
on the Saturday evening whilst I convert it to normal charts and
P&F charts. Upload it to the laptop on a Sunday, have read of the news,
and it's then ready for posting here with a few views.

Hope it's of interest. Wouldn't mind hearing some other folks views, though.
Come on guys & gals. Don't be shy.:-)

Melnibone.

Melnibone
Well not a lot of traders in the Investors Room but more in the Traders Room 100 to 200 posts a day on the Traders thread.
Maybe worth a look?
M

Thanks Melnibone - many from the traders room will read this thread, but not
post, as they only have time to post "over there". Thats why I've posted over
here, even though I do keep an eye on what they are up to. I've stopped
"trading" and am holding some cash at the moment, as a few stop losses have
kicked in over the last few months. I'm in no hurry to get back
into the market, as things are. So have gone back to work full time, to
occupy my time, and stop temptation! (As well as stop me from spending the
cash I have, and provide some extra cash in the meantime).

Although the fundamentals say prices are should be higher, because they aren't
that says to me something else is holding prices back. Your TA makes me think
I'm right waiting. I made the mistake a couple of years ago, of getting back
in too early - and I don't intend to make that mistake again!