The London Traders Day Friday 8th April

Despite the atrocious cold and wet weather in London on Friday, we saw a record attendance at the Royal National Hotel. The day was kicked off in great style by David Jones (Limpsfield), Shares magazines resident charting expert and a Director of Global Markets Training, who hosted a good interactive session on basic Charting techniques with examples of how he applies them to his own trading. There were plenty of questions from the floor that David handled in his own inimitable fashion. Geoff Langham from Deal4Free kept the momentum going with an absorbing session on trading Foreign Exchange using CFDs. FOREX is certainly being looked at much more closely by private investors these days, evident from the interest taken in Geoffs presentation and the questions it provoked. The shock of the day came next when Amberjane arrived in time for coffee, beating her previous record of making it for the lunch break. :-) After coffee, we were entertained by an interesting insight into financial journalism by Polly Ferguson, Deputy Editor at Shares, who explained the difficulties journalists face sifting through the reams and reams of data that hits their desks. Polly did well to explain the relative importance to traders of the sources of the various announcements that hit our news feeds. Her message of the day was financial journalists are on your side!" Jon Scott from E*Trade took us up to the lunch interval with a demonstration of the advantages of using Direct Access CFDs and an introduction to Level2 data and an explanation of how that extra dimension can help your trading. We took over a big proportion of the hotel restaurant for lunch which proved to be a big logistical exercise. It didnt take long for the attendees to look out their friends and track down Bulletin Board users they hadnt met before. In my experience this is always a very fruitful experience and one of the highlights of these occasions. After lunch we were treated to The Tom Hougaard Show! Tom is Chief Strategist for CityIndex and a regular star on Bloomberg television and always manages to find a strategy for analysing market trends that no-one else has identified. His analyses on Friday ranged from a look at the way the markets perform during the US Presidential cycle to using a compass (of the point and pencil variety) to spot potential highs and lows. Tom was, as always, highly entertaining and succeeded admirably in keeping the audience both amused and entranced. He also offered the opportunity to have a copy of his presentation sent to anyone who wishes to contact him at tom@cityindex.co.uk. Peter Webb kept the interest level high with his insight into using Betting Exchanges. Peter, better known as Scripophilist on the MoneyAM Bulletin Boards, is a regular contributor to Shares magazine and also hosts regular courses for Global Markets Training. He certainly gripped the audience when he revealed that he has a 95% success rate in his Betfair dealing. Betting exchanges now handle everything from sporting events to financial instruments and are one of the fastest-growing phenomenon of the present day. Peter demonstrated to us how he could see the progress of a horse race without either watching it or knowing anything at all about horses. It will come as no surprise to anyone who listened to the presentation, that Moscow Flyer won the 3:10 race at Aintree at a canter. If you werent fortunate enough to see the presentation, I can recommend a look at the Betting thread on the BB. You can find details of the courses Peter runs on the subject by visiting www.glomtc.com. Judging by the horde of people surrounding Peter during the ensuing coffee break, the subject both intrigued and excited. The fact that he also guaranteed at that early stage that he was 100% certain of having the winner of the Grand National added to the attraction, Im sure. After the coffee break Derek Lambert, Chairman of Imperial Software Technology and Mighty Micro on the BB, gave an update on MoneyAM Mobile and the technology behind it. A number of updates are now available for Mobile and details are available at www.moneyam.com/mobile/. IST is the company behind MoneyAM streaming products. The final session of the day saw Mike Boydell, Bullshare, the Managing Director of MoneyAM and Shares, give us some of his thoughts and experiences relating to the use and interpretation of Level2 data along with graphic examples of how much is hidden from view when you depend solely on Level1 for your stock information. This is a subject that Mike covers in depth in regular Global Markets Training courses. The day was wrapped up by a brief Question & Answer session and it was a further indication of the success of the day that so many who attended gathered together after the event to exchange ideas and interests. From a personal viewpoint, I must say that I received much more feedback from the audience for this Traders Day than ever before. Thank you to all of my old friends and new for making it such a good experience. My thanks to Ian Taylor of MoneyAM for the hard work he put into helping the day go smoothly. Thanks also to Ruth and Steph for their invaluable assistance on the door. I look forward to seeing many of you again at the next Traders Day which is planned for Friday June 17th in Sunderland. If you are interested in attending, there is a thread running on the subject on the Bulletin Board. We also plan to run another Traders Day in Clitheroe in the Autumn. Details of this will be made available in due course. Greystone

Limpsfield's Weekly Chart View

The big levels mentioned last week for the Dow proved pivotal once again, setting up a strong rally from Monday that didnt peter out till Friday. However, these markets are still not out of the woods yet and there are some key barriers that need to be cracked to signal there is a lot more upside to come.FTSE 100Intraday FTSE Friday saw the FTSE pushing back up towards the 5000 mark, completing a 100 point recovery from Mondays low. However, the slide that has been in place since mid February is still in force. We need to see a decisive move through 5000 and holding above here for a couple of days to put things back into a properly bullish mode and set up a run back to the highs for 2005. At the moment, particularly in the light of the US weakness on Friday, the expectation is for the FTSE to slide early in the week at least. Dow Jones Intraday Dow The US markets remain the key ones to watch in my view for the next major move. The lows for the year have held once more over the past week and any dips down to the 10,350/10,400 area remains a buying opportunity. The key short term resistance level at the moment is 10,570 and again the Dow ran out of steam ahead of this last week. We need move through here to shake off any remaining weakness and set up a move back to the highs for the year. For now, while above the lows for the year, the index remains more bullish than bearish. However, for those of us not blessed with crystal balls, it pays to look at the alternatives. If things dont pan out like this then a move through 10,350 looks pretty bearish and should be a case of look out below. This would put the index on new lows for the year and suggest the slide from 10,980 has got further to run with nothing in the line of major support till around the psychological 10,000 level. It should be another interesting and volatile week. Limpsfield Limpsfield is David Jones, the widely acclaimed charting expert at Shares Magazine who also hosts regular Charting courses for Global Markets Training (www.glomtc.com)

Hello traders!

I apologise that this is a bit late starting this week but there has been a lot to catch up on since my return from London yesterday.

There is a little more to read this week as I've added a brief summary of the Traders Day in London. Be sure to hit the "All Messages" button to catch everything.

I have a small problem with one of Limpsfield's charts this week which I will rectify as soon as possible. I hope it doesn't spoil your day too much.

Enjoy the rest of your weekend!

See you in the morning with breaking UK news......

G.

Afternoon All

Obviously an excellent day on Friday - sorry to have missed it.

Good morning traders!

In Asia this morning, markets are almost universally negative, following perceived weakness on Wall Street on Friday.

Off to search for some UK news....

Happy trading!

G.

PS Extra long threader header today. Don't forget to hit the "All Messages" button to catch it all... :-)

02 UPGRADED TO 'OVERWEIGHT' FROM 'EQUALWEIGHT' AT MORGAN STANLEY

SMITHS GROUP STARTED WITH 'OVERWEIGHT' AT MORGAN STANLEY, TARGET 950P

Good morning all.

Morning all.

Good Morning all,

Not sure whats going on BLLM (long term high risk punt - in doldrums)- price up 17.5p thats 100%?????
Must have misread it :-)!

Morning All,

Offer on Jennings at last.

Not good news for Real Ale fans I fancy but nice If you have the shares.

It seems the increase in BLLM price is due to the share change of 1 for 500

Goodnight all.

A bit more going on tomorrow with TSCO, MKS and S+N in the news, so maybe a bit more action here too.... ;-)

See you then.

G.