Evening all,
Thanks to Martini and Kyoto.

Not a lot changed. We're still in the year's range, but nearer
the bottom of it than the top.
Although the FTSE dropped below 4300 in March, it's lowest close
was circa 4318. Which isn't very far from where we are at now.

Nasdaq composite and Nas100 have dipped below 1900/1400 respectively.
Ndx did actually drop, on a close basis, to circa 1370 in March and May.
So we're not far off there either.

S@P lowest close was 1084 in May, which was the approx pre Christmas
rally level to give some perspective on how far we've already come down.
So there's not far to go there.

DJ EuStoxx50 dropped to 2660 in May, about 50 points lower than Friday's
close.

As we can see, everything is getting close to where folk stop selling
and start buying. I know some TA guys are calling for more big drops, and they
may be right, but they're calling for a range break to the downside which
is a dangerous assumption IMHO.

Lots of Bears are already short, this will provide the fuel for reversal
that could be rapid when it comes. They can only take profit by buying
stuff. Shorts here should have tight stops, because if you get it wrong
here, calling for a range break lower, it may not come back to you for
years. Just like what happened to the Bulls 2000/2003, only in reverse.

Consequently, my shorts will be on an intraday scalp basis, looking at
the NDX, and the DJ Eustoxx50.
Keeping a watchful eye on some Ftse Blue Chip Divi payers, ready to leap
in for short/medium term position trades if it looks like we're bottoming out.

Melnibone.

thx martini, for taking the time to put this together, religiously every sunday, and to kyoto for accepting the offer to 'share' his trading experience..albeit after 20mins pondering ...must have been a long pause ..but a good decision nevetheless..! au revoir

Melnibone
I am still after you for a thoughters slot.
M

morning all and thanks to Kyoto for the thoughts.

Here here time to step up to the plate mel:)

mornin all

Morning all

Morning punters.

Lobbed TFC flat, JKX +2 avg, longed AQP and covered LLOY long +3.

Think that about covers it, but MRS gonna be a fiver by Xmas - I'm a bit long. ;-))))

Thanks to Kyoto for the thoughts, very interesting.
Hope the sun is shining on one and all, if not actually, then financially!

Morning all.

Low volume messing about while we wait for US guidance seems to
be the order of the day.
Big week for S&P earnings, this. Should give a clearer picture
of future earnings and likely direction. Current earnings are
already built in, so look for the guidance, not the headline
numbers.

Won't be able to post as much for a few weeks. Is that a big sigh
of relief, I hear?

Got a big project on at home. Replacing all the carpets with laminate
wood flooring. Lot of work involved there, and I need to pace myself
as I carry on recovering from an illness for a few years yet. Well
that's what the specialist told me last year, so we'll see.

Watching the market on Bloomberg while I work, and nipping in to take
the odd trade when I see a possibility and do the odd post.

I'll do a 'thoughter' for you sometime, God knows why you want me.
There's no accounting for taste, is there? :-)
But it will have to be when I can fit it in.

Melnibone.

Cheers Melnibone
Good luck with the project.
M

Decent day here. LLOY weekend trade closed at first 398p peak for +3, MRS went and closed at a new high (fiver by August!), opened a couple of AQP longs and still holding, but it got sold off, FTC tried to plummet again and failed (it will soon), lobbed TFC and JKX, SBT went up, RPT went down (still holding both), went long WBY and short LAC. PLR buggered about as usual and went short AZM very late.

Failed to chase TIG (t*t!)

Finding myself chasing trades at the moment, which is not good. Getting over-confident so looking to cut a few and sit on the good ones.

S&P really threatening to give a good break of the 200d SMA - it needs to make an upmove methinks or a few bets are off!

Evening all.
I'm cream-crackered. I would say something else, but I believe there
are ladies present.:-)

I never knew you could fit so much stuff into one room until I came
to shift it all. I'm fed up with removing those 'orrible spikey
carpet grippers as well. It's like juggling with porcupines.

Market drifted a bit on lowish volume. Nothing to write home about
and we're still in the range.

US didn't exactly crash, either. Looks pretty flat to me.
Greenspan waffling for the next two days. I wonder if
he'll upset the apple cart again.

Banks still dropping.
LLOY down to 392p now. The yield must be over 9% on this little
devil. Bet you're glad you never bought at 414p, stockbunny, as you
were musing about. If you did, I'll never speak to you again after
sorting out all those warning charts for you!
Only joshing. You do what you want to do. :-)

GSK is making a meal of hitting 1000p. I'm getting tempted.
To give some percentage perspective at these level, it's the same
as saying I'd buy ARM at 100p but not 104p. I need to think about
that. I'm in danger of being pedantic here.

MRW holding support well at 180p. The Brandes buy on Friday stopped
the rot here, IMHO. Got the Bears worried, poor things.
Still got my eye on that big gap down open that is begging to be filled.

OOM getting more friendless every day. Bit concerned it was downgraded
by Brokers. Don't trust that lot as far as I can throw them. If they
want a stock to come down it's for a reason that will suit them, not us.
Watching for a buying opportunity. This one is starting to throw off
cash and will be snapped up one day by someone wanting a stake
in the European Mobile sector. There's no room for new players.

VOD just below resistance on the 1p close price P&F chart.
I'd like to see it close at 115p and bounce.
VOD is a quality cash cow with plenty of growth potential via organic
3G and aquisitions. Don't ignore its potential just because it's
the world and its dog favourite trading stock.

Try and catch you tomorrow sometime if my aching knees let me hobble
to the keyboard.
Feel free to shift this post to tomorrows thread if you want, Martini,
if you think it's appropriate.

Stay loose and don't play the range break until it happens guys and gals.
Don't want to get caught shorting at the bottom do you?
If it does break, it'll come back to have a quick retest anyway and
give you a safer entry point.

Melnibone.