I see MRW is now at the critical 180p support, David 2000.
Nice call that.
I wish you had mentioned it a little earlier. :-)

Melnibone.

Added to JKX

Midday report.

Added JKX, tight stop. Lobbed AQP +5, +11, then some big orders went through. Might have to jump back in - watching. PLR good, RPT good and my only short FTC going very well indeed.

Not much else of interest, but suppose that's enough.

Tom Hougaards thoughts on the market for today

Good morning,



The Intel news caused a big gap down which was immediately bought. The low set around 1107 in the SP500 will act as the Make or Break for the time being. If the market trades below 1107 the market should head down for the count until the end of the month. Stocks are bleeding and the bounce was a pure day trader phenomenon. Later the market retested the area and held. The good news amid this bearishness is that we saw some buying in the final hour of the day.



I am basically of the opinion that as long as we are below 1116 the market is in a water fall decline pattern. I got no expectations for Thursday, but Friday looks higher to me.



Several stocks look interesting. One index that holds the key to the market is the SOX. It may be a perfect buying opportunity right here with a tight stop. If the bulls cant support the SOX here then we should much lower going into the end of the month.



It seems every morning I come in the SP500 is trading around 1112. Sooner rather than later we will break and I will go with the flow. 1108 or 1116!!! In between is day traders paradise.



Tom

Good rise on PLR, shame it is such difficult trading conditions, but it shows the stock is sound.

JKX can't make it's mind up as to whether it wants to break again or not!

PMO is a steal just now. One abandoned well does not make a disaster!

BFP well there's a thing, but one swallow does not a summer make.

Talking of food, time for lunch!

When will this market break back up???

MRW 180p support given way on good volume.
Bears could panic some weaker holders into liquidating
now that it's below this level.

Should get some direction from the US after 1500 Hrs,(UK time, not
US eastern), for the main Indices.

Melnibone.

Melnibone have a look at the "map" i sent u and see if its workable.
rgds
zarif

We'll find out after 1800hrs (UK time), Zarif, when the US comes
back from lunch.

Melnibone.

Well, a pretty good day here. Lovely and blue.

Opened early long TFC, lobbed the rest of AQP for +5 and +9, added to JKX at 120, lobbed FIB -4, lobbed MER +5 and reduced PLR +3.75 from yesterday's long, but still got bits and pieces from 127 and 135.

FTC fell beautifully and RPT rose nicely.

Negative sentiment has not affected oil stocks so happy to trade long within that sector - and I am heavy there!!!

Tomorrow it'll all probably go t*ts up, but week nicely blue now and only Friday to worry about.

Al
;-)