Next Meeting:- Thursday 4th December





19:30 at Crowne Plaza, Wellington Street, Leeds eating at the hotel Boccagrande Restaurant.

Firstly, thanks to Stacey Ash of IG Index for giving us a mention when they held their seminar in Leeds last Thursday. I've asked him to give us a plug on Bloomberg next time he's on...

As a consequence of being mentioned at the two seminars there has been a lot of interest from new people wanting to get involved. That's great!! Everyone is welcome, novice or master trader, young or mature, UK equities or foreign currency, everybody has something to contribute.

Would those that want to come along please let me know either by posting here or e-mailing me so that I can give Maxi's some idea of how many to cater for...

One final point, a few people have asked if I can arrange an event similar to the one held in Scotland last week. I am hoping to persuade Tom Hougaard to come back up so we will need to make it worth his while by turning out in numbers. If anybody else has some ideas then please let me know.

Best Regards,

The Priest (tim@coachhouse.co.uk)

I got an e-mail from Stacey Ash at IG Index this morning. He has offered to come up an do a session on trading margined products if we're interested.

Having been to a few of the traders meetings round the country, including last weeks excellent effort in Edinburgh, I am considering running one towards the end of the year in Leeds. Any input people have is welcomed, I will do my best to be accomodating and see what speakers I can get.

As well as the monthly evening gatherings in Leeds, there is a day long session arranged by my colleague Jason (Richgit69) in Sunderland on June 12th. For further details on that go here.

Regards,

Tim

Good news, it's looking like there'll be about 10 of us if everyone turns up.

Great stuff people, see you tomorrow.

Regards,

Tim

Thanks to all those that came along last night - I hope you all found it worthwhile.

Last night we had 6 people which is a 20% increase over our first meeting last month.

20% increase in a month hmmm.....how can I get my portfolio to do the same?

Regards,

The Priest
tim@coachhouse.co.uk

Ladies and Gentlemen, Boys and Girls,

It's that time of the month again!!!

We'll be meeting this Thursday 5th June at Wellington's, 88 wellington Street, Leeds moving on for a meal at Maxi's at 20:45.

Come along and find out why Friday could be the best day for you to be active in the market this year - all we be revealed...

Please let me know by e-mail or by posting here if you're coming.

Thanks,

The Priest
tim@coachhouse.co.uk

Thanks everyone for e-mailing me - currently we are looking at a record attendance tonight.

See you all later.

Tim

A big thanks to all those who came along last night - an excellent evening all round.

We had 10 people which is twice as many as when we first started.

Next meeting is Thursday July 3rd which is my birthday (hint, hint)...

And don't forget, June 6th is the one day in the year when prices are most likely to rise...good luck trading today!

Regards,

Tim (aka The Priest)

Hi - used to knock about Leeds a couple of years ago as a dealer for TD, so the Wellington was my local. Do any of the (ex)dealers from TD/dealwise go to these do's??

Goldline,

Apologies for the delay in responding, I have only just noticed your question.

I am yet to meet a TD/Dealwise person but you never know where they might spring up from.

Are you still around Leeds or have you moved on?

Regards,

Tim

First things first, our next meeting is Thursday 3rd July. Time is 7:30pm at Wellington's, 88 Wellington Street, Leeds and then moving on to Maxi's Chinese Restaurant for a meal at 20:45.

Also...

...I have been exchanging e-mails with Tom Hougaard of late - he is interested in coming to Leeds to do some teaching. For those that don't know, Tom is something of a City Whiz - he is gaining a reputation as a forecaster of the markets. Recently he has been posting his 'expected path for the day' which is his view of how the US trading day will work out, before it actually happens! His very first attempt was uncannily close to the way things finally worked out.

Here's a sample of his early work - "I am looking for a higher open which should last till around 16:30. From then on there will be a decline till 18:00, followed by a fairly sharp bounce. This bounce should not last long and should be followed by new intra-day lows. However, the day should finish like we saw it finish yesterday, with a move higher near the end of the day. I would expect the move at the end of the day to last 45 -60 minutes."

Recently he has moved to diagrams with more detail and to my mind that has clouded the picture a little but that is not to detract from the fact that he is extraordinarily accurate in his predictions. I recommend that you log onto Moneyam and read his column or better still, get onto his mailing list.

The methods he uses are quite arcane - I have just ordered a book on Market Geometry by his mentor Bryce Gilmore and I have also signed up for one of his seminars in Southampton (at no small cost!!!) At that level, you need a great deal of knowledge to understand where he is coming from.

Currently I am in discussions with him about the level at which to pitch a Leeds seminar. This would take place on a Saturday so it would be in Tom's own time and therefore it would not be a City Index pitch, it would purely be a Tom teaching session. The question is, what do people want and how much would they be prepared to pay to get him here? Is 50 reasonable, 100?? I am not interested in making a profit on this but Tom needs his expenses covering - he lives in Bournemouth.

Can I ask you all to think about the sort of things that you personally would like to hear from a master trader and let me know, I can then discuss these with Tom and see what we can do.

I hope to see you next week.

Regards,

Tim

Thanks to everyone who came on Thursday - an excellent evening again. On a personal note, I appreciated Richard's (Rical's) gift, a bottle of wine, maybe being 36 isn't so bad!!

Our next meeting is Thursday August 7th and we are going to have a change of venue on the grounds that on 2 out of 4 occassions Wellingtons has been closed for a private function - I thought it was a public house...never mind!

Our new venue is the Crowne Plaza across the road - the settees are better and we should be able to hear ourselves. Regarding eating, we can try the Boccagrande Restaurant as it is on site, I've heard that the food is good there so here's hoping.

REMINDER - Our next meeting is Thursday August 7th, our new venue is the Crowne Plaza on Wellington Street.

Regards,

Tim (aka The Priest)
tim@coachhouse.co.uk

Hi everyone,

good meeting last week - plenty to discuss as the markets wait to make their next move - will the NASDAQ tank as we have predicted? Will gold be above $380? Will any of us have made some serious dosh?

Find out at our next gathering, Thursday 4th September at the Crowne Plaza, Wellington Street, Leeds.

Regards,

Tim (aka The Priest)

Hi,

Here's a quick reminder that our next meeting is...

Thursday 4th September at 7:30pm at the Crowne Plaza hotel, Wellington Street, Leeds. We can also eat there in the Boccagrande Restaurant (last time was very good).

Since our last meeting, we have seen rallies in the major indices - I was cheerfully predicting the end of the latest tech boom but the Nasdaq has defied my expectations and made an about turn printing a new high for the year on Monday. The Dow also printed its 12 month high that day but the S&P500 didn't although it is now towards the top of its trading range whereas last month it was at the bottom.

As for the UK, the FTSE rallied from the start of July reaching the latest peak early last week. This is not a 12 month high though, precisely 12 months ago the FTSE100 opened at 4450 and dropped 176 points that day!!

Finally, for the 'alternative' traders amongst us, Gold has rallied over $20 to above $375 and is heading towards the high of $384 which was printed prior to the invasion of Iraq. If we can clear those highs then gold will be at levels last seen at the end of 1996. I currently have a large long position.

See you next week,

Regards,

Tim Leleux (aka ‘The Priest’)
tim@coachhouse.co.uk

Next meeting is Thursday 2nd October at the Crowne Plaza, Wellington Street, Leeds. Generally we gather at about 7:30pm and go for a bite to eat at the hotel's own Boccagrande Restaurant at about 8:45pm.

Regards,

Tim
tim@coachhouse.co.uk

Hello Priest,

Remember me - New Skills last month - I'm going again on Thursday and as it's options etc this time I might be joining your meetings in the not too distant future.

Regards

Angi

Ladies and Gentlemen,

Next Thursday is our next meeting - 2nd October at our new location, The Crowne Plaza on Wellington Street, Leeds. Start at 7:30pm, eating in the Boccagrande Restaurant in the hotel. Please confirm if you are coming so I can book a table.

A couple of weeks ago I went down to E*TRADE in London - they had a seminar from a professional trader called Nigel Hawkes. His methods are interesting, aimed at the medium term trend follower i.e. those that are looking to catch the bigger moves. He talks about the 7 ways in which a market can trend and also covers the concept of energy points which can be used in helping to identify a trend early. I have incorporated these ideas into my own trading and have found them quite beneficial inasmuch as I can add to my position with confidence and I am less likely to be shaken out of a position on a minor reaction.

Nigel has offered to come to Leeds in January if we want him - if we can get 10/15 people, we could do it for 120 a head. Let me know what you think.

Market Review

FTSE100 - Last meeting (4th September) it closed at 4229. It continued to rally up to 4330 on the 17th but it didn't seem to like being above 4300 only spending three days there. Since then it has retraced and printed a low on Monday of this week (22nd) that was below the two previous lows on the daily chart. This is not an encouraging sign - as yet the weekly chart hasn't confirmed the change of trend.

Dow - Last time we were nearly at 9600, currently we are below that but above the low of 9350 on the 12th September. The uptrend is therefore intact.

S&P 500 - Last time round we were at 1028, rising up to 1040. The last two days have seen us drop below that and we have printed a lower low today which is a warning sign. The S&P has done this before on the daily chart and rediscovered the uptrend, the weekly chart still indicates rising prices.

NASDAQ Composite - After a bullish August, the Naz gave back a little shortly after our last meeting and then went on to print a higher low. Between the close last Friday and the open on Monday it gapped and formed a slightly lower low before recovering on Tuesday. The last couple of days have seen further falls but the weekly chart is still bullish.

Gold - the yellow stuff continues to rise. Last month it was $375, at the time of writing it is $386 and at one point today it got over $393 - the last time it was this high was August 1996. That particular high has provided some resistance today but I would expect to see it re-tested over the next few days and it should the breach $400, possibly to as high as $417.5 which was the February 1996 high and also the highest point since 1990. If we get there, I am expecting a sharp correction but as always, wait and see.




Hopefully I'll see plenty of you next week...

Regards,

Tim (aka ‘The Priest’)
tim@coachhouse.co.uk

Excellent meeting last night.

Next one is Thursday 6th November, same time, same place.

Regards,

Tim (aka 'The Priest')
tim@coachhouse.co.uk

Tonight's the night!!!!!!!!!!!!!!

Tim
tim@coachhouse.co.uk

Just a reminder that the Yorkshire Traders Group meets once a month in Leeds at the Crowne Plaza on Wellington Street. Next meeting is Thursday 4th December.

Regards,

The Priest
tim@coachhouse.co.uk