Read the latest interims.......just make sure that you are sitting down.

shut mine yesterday at 377.5, also for a loss ..... but that is the level i determined and made money elsewhere, primarily on indices yesterday

Yep I got out yesterday for a few grand loss. (fact kitos)

Still well up though on this one.

Looking to see if we get an xmas bounce as per the norm, but cant see these holding up come january, or the market in general.

Ive assembled a large war chest for a lot of shorts.

Facts are OK by me GF. You'll get it back. Always a fall-back on the cards.

GF .... i too think rough times are ahead ..... difficult to know where to target shorts, and the indices may be the easiest bet

Like g/f I have also sold most of my holdings including rnwh, (not a large warchest on the g/f scale) and will wait for large corrections in new year.

Like the look of a short in sola at some point, but I do like pvcs in this sector, checking them a little further today, but the balance sheet looks much stronger.

Strong rises and PVCS gets buy recs benefitting the whole sector.

don't short for now ..... certainly wait for 440 where sp hits 200 dma

Any short positions should have been closed when it popped through the trendline I drew on an earlier chart. The 200MA just happens to coincide with the downtrend line established back in March, would rather expect this recovery to stop right there. Depends on other indicators as well though.

thanks Peter ..... an interesting point you raise which makes the shorting potential at 440 much stronger

If you imagine some straight lines on your graph above plotting the downward highs and the recent lows, you have the whole lot coming together a little futher out at around where we are if my eyes aren't alluding me. My money's then on breaks higher this time round.

by the sounds of it, under your perception, all sorts of lines are about to coincide ..... if so, that reads heavy resistance to me

Interesting TA analysis, thanks chaps.

Just to confirm with a chart my previous comments re closing a position (short in this instance) when a resistance trendline has been broken. The SP has broken above the previous trend, but is now faced with two obstacles; firstly the 200MA and secondly, pretty solid longer term downtrend resistance. Further on the negative side, all three MAs are in the wrong order, the 200MA is still pointing South, the MACD MAs have managed to turn up and crossed, but still not over the centre line, volume is quite light. Personally I would lean towards 470p ish being the top for this particular move before another retracement, but SOLA often surprises and I don't see any STRONG reason to go short or long. Anyone already short (Hyleo?) may wish to wait and see if this move stumbles before closing. A risky strategy, but if you're already in the poo the reward may outweigh the risk. Just be careful if it does drop off, that uptrend may provide support for another assault on the downtrend.

pth

Thanks pth for the graph, just what I was viewing in my mind.

Going up, soon be back to the 550p range.

Gone in short again.

Chinese inflation data sparks overheating fears

By Sean O'Grady, Economics Editor
Published: 12 December 2007

Inflation in China has reached its highest level for more than a decade, fuelling fears that the Chinese economy, now a major engine of global growth, may be overheating badly.

Chinese growth is estimated to be 12 per cent this year, and the IMF says it will account for a greater share in world growth next year than the US.

The country's trade surplus also swelled last month, again an indicator of the potentially unsustainable pace of growth. China is making slow progress in normalising its external account, seen as one of the key imbalances in the global economy. Should Chinese growth falter, the world could be tipped into recession.

Consumer prices rose 6.9 per cent in November from a year earlier, after climbing 6.5 per cent in October, more than economists expected. As in the West, much of China's inflationary spike was down to higher prices for food, oil and other commodities, as the world struggles to sate China's rapacious appetite for the raw materials of industrial growth.

However, unlike the West, food accounts for about a third of consumer price inflation in China; so this global phenomenon is affecting the country's population more severely. Tough measures to crack down on inflation could puncture the property and stock market bubbles, and jeopardise China's new role as the engine of world growth.

The authorities in Beijing moved swiftly yesterday to try to cool the economy. Regulators told banks to tighten lending into the booming real estate market, pointing to the painful experience of previous Asian property bubbles and the US sub-prime crisis. State-owned companies will be required to pay dividends of up to 10 per cent of their profits to the Government, restraining what officials call "excessive" growth in fixed-asset investment.

Economists expect China to raise interest rates this month. China's one-year lending rate is at a nine-year high of 7.29 per cent after five increases this year.

Mark Williams at Capital Economics said: "There is certainly a lot of noise coming fromBeijing at the moment about limiting credit growth, and today's measures are part of it. Unfortunately, attempts to limit thevolume of lending are easilycircumvented."

China's trade surplus climbed 14.7 per cent to $26.3bn (12.9bn) in November compared to a year earlier; a slowdown in shipments to the US has been offset, so far, by exports to the EU. The surplus continues to boost China's economy and to create inflationary pressures.

Right on the button PT.

i think GF (and Peter and myself) is right, but am still away and too difficult to monitor

Wondered what had happened to you Cyn. Missed my morning laugh.

Will watch with interest as my MDX continues to bring home the bacon.