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US Stocks recovered from a steep early slide to close barely unchanged helped by news that a senior al Qaeda official, possibly the organization's second in command, had been surrounded by Pakistani troops. AGA stove maker & foodservice Group said annual profit for the year rose 1.1 percent to 27.9 million pounds it had made a sound start to 2004 despite posting near flat profits.Euronext stock exchange operator posted higher 2003 profits up 27.4 percent to 211.8 million euros, boosted by cost cuts and a capital gain from selling part of its stake in the Clearnet clearing house. Euronext also said it would start a share buyback programme to repurchase up to 2.5 percent of its shares.

Calendar: United Kingdom	United States (GMT)	Europe & World (GMT
Gladstone (I), Aga Foodservice (F), Empire Interactive (F), Parkwood Holdings (F), Toad (F) FTSE 100 March futures and options contracts expire	Carnival Corp, Paychex Inc 13:30 PPI, Core PPI	Galeries Lafayette SA, Euronext NV

Croc@SnappyTrader.com  WWW.SnappyTrader.com

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Updated 3/18 for Friday's market.
Key DOW Levels for 3/19
UP Above 10,330
DN Below 10,200

Volatile Session
Dow falls at outset, but recovers to the Close in volatile fashion.

From prior commentary, "...the Dow may be forming a wide
trading range at the lows from 10,100 to 10,325. We could see
further sideways movement within this range before a solid move
in either direction is seen..."
The Dow pulled back off yesterday's highs, as the index broke
below 10,250 and trended lower for much of the morning.
However, the index got an upside break through a clear intraday
trend line, which resulted in a solid push higher followed by
active and volatile swings, as seen in the 15 Minute Chart.

The Dow ended the day lower by just 5 points and has now
formed a clear trading range from 10,200 to 10,330 within a
wider range, which spans from 10,100 to 10,330. The Dow is
holding just beneath the clear and solid 10,330 resistance level,
which we will watch closely tomorrow. An upside break through
this level will lead to another sharp advance, while a downside
reversal and a break below 10,200 will mark a move toward
support at 10,100.

Short Term Dow

Short term, the Dow held below the clear 10,330 resistance level
throughout the day, seen in the 5 Minute Chart. Look for
continued overall weakness beneath this level tomorrow
morning.

Medium Term Dow

In the medium term, we closed Longs this morning at 10,259,
giving us a breakeven trade for the position. We then entered
the market Short at 10,250, but also closed the position for a
breakeven result. One last trade entry was triggered Long at
10,325, but resulted in a loss.

We are now out of the market and will watch 10,200 down, and
10,330 up, with 20 point stops.

NASDAQ & S&P

The NASDAQ and S&P each mirrored the Dow today, as the
indexes fell steadily to begin the session, while recovering most
of the losses by the Close. Look for a break from the current
trading range for direction tomorrow morning. *

Summary

The Dow reversed sharply off the session lows and rallied briskly
into positive territory. However, a late-day pull-back assured a
loss for the day, as the index stayed within a clear set of
boundaries. Watch 10,330 up, and 10,200 down for action
tomorrow.

FRI ops exp pivots

R2 4481
R1 4439
PP 4419
S1 4377
S2 4357


On Thu the ftse close below s1 and lost 4.6pts in the auction! Dow pivitol area now 200/250, no sign of strength and it looks like a test of s1, brk up at 4415 for pos signs of strength imho!

Morning all

mornin all

Morning all,

Still just trading support and resistance. Took a couple of
Blue chip longs near the low close yesterday and took profit
on one this morning. Will keep the other one running to cover
any break to the upside and play the Index biased to short positions,
if they present themselves, to cover it.

Nothing to add to TP and Croc's thoughts.

Melnibone.

Morning all

Just received this message: Dear user of Co.uk gateway e-mail server,

Your e-mail account has been temporary disabled because of unauthorized access.

For more information see the attached file.

Cheers,
The Co.uk team http://www.co.uk


Fortunetly my anit-virus deleted the "attached file" before I got a chance to see it as it was a virus!

After a talk with KeithB (only found in the Traders Room) at the meeting we held in Hook, I started using my US Trading account again. I had stopped because I didn't understand the terminology, but explained a lot of it to me and as the exchange is so poor I may as well trade instead of letting it just sit there!

Been extremely pleased, especially with the latest! In error I bought MSF instead of MSFT. MSF is doing a lot better than MSFT!

I've been looking at my different portfolios (having them with different brokers really makes it easy!)

The long term, div yield portfolios are all showing healthy profits, whereas the short term high risk (div not important) portfolios are struggling.

That was annoying, thought it would be safer to log off
for a while.

I was getting port scan, after port scan, after port scan,
as someone was trying to break through my firewall gradually
moving through all the ports in the 33000 range.

You're a computer buff, Croc, what's the best course of
action when you get this?
Log off for safety as I did, or let your firewall cope with it?

Melnibone.

Thats awful Melnibone - how do you know its happening?

Thought I would post what PSN (a boring FTSE350 company) has been doing since December 2003.

Nothing much seems to be happening. Traders maybe waiting
for the option expiry to be got out of the way?

GSK down again on an up day. Any takers yet?
I'll wait until the trend turns and miss any initial gain.
There's no telling where this is going to bottom.

Nil/low growth, possible Billions in tax bills, generic competition,
US trying to lower the cost of health care, investors are running scared.
May get this even cheaper than what we think.

Melnibone.

I run Sygate Firewall, little woman.

It always blocks and brings up audio and visual warnings
when someone is trying to access your computer.

Nobody should ever, ever, ever, go online without a firewall.

Melnibone.

Melinbone - Logging off will, in many cases, get you a new IP address when you log back on and the hacker will have effectivly lost you. However, if you're running a broadband router you will still have the same ip address when you switch your pc back on - disconnect the router for a time in this case. I find XP and a router pretty good as a firewall on a normal PC.

I have a firewall (I had to disable it & then reable it when I installed broadband) but beyond that know absolutely nothing about it or how it works!

I have 2 computers, one for the internet, and one that never goes anywhere near the internet! (Since seperating the functions, I have never "touch wood" had any problems, which is more than I can say what it's was like before.)

What times this witching hour thingy BTW

Thanks for that, brianboru.

I run Sygate Firewall, AVG anti-virus, Spybot Search and Destroy
for trojans, and Adaware for cookies etc...

I check for updates and run them every day.
Every day my system picks up tracking cookies that Spybot and Adaware
gets rid of for me and Sygate, so far, touch wood, has kept the hackers
out.

First thing I do before logging in to a trading or banking site is
check and clear my system for any tracking or key-logging software.
It's become an integral part of my browsing habits.

Melnibone.

10.10 to 10.30 been and gone

Mel

GSK broken thru 1050 on its way to 1000 - watching closely to buy in

Melnibone,
I also run Spybot, Adware and AVG and agree with your comments that good housekeeping seems to work.
sw

It's still dropping though. Careful.

At least nobody who reads this thread should have been long GSK
the last couple of months. At the very least we should have sown
the seeds of doubt.

Melnibone.