This week's guest is David 2000 and gives his own thoughts on the week ahead. If anyone else would like to be the guest next week please let us know.

Monday 21 June Finals - UBC Media Group- In April, the AIM-listed radio broadcaster reported that trading was in line with expectations, and that its ambitious plans remained on track. Last week, UBC confirmed it was talking to both Channel 4 and 19 Management about potential projects.Interims - GW Pharmaceuticals - Expect an update on the groups cannabis-based drug, Sativex, the approval of which has been delayed as regulators ask for more information. The drug is used to combat pain caused by Rheumatoid Arthritis. GWP is in a strong cash position and the delay should not impact its value. Tuesday 22 June Finals - Trifast - A year-end update in March was solid but suggested that upgrade momentum was still some time away for the industrial manufacturer. Positive points are Eastern Europe and the Far East (especially China). Pre-tax profits are forecast at 4.8 million.Interims - OMG - Motion capture firm OMGs results for the first six months of the year will be tempered by like-for-like sales, after a large sale to Sony Pictures in the same period last year. But it should show benefits of its increased cost control and investment in development. Sales are likely to be heavily weighted towards the second-half.Wednesday 23 June Ex-dividend - Man Group - The worlds biggest listed hedge fund business posted a larger than expected underlying profit of 484.5 million in the year to the end of March, lifted by strong sales and fee income. Man proposed a final dividend of 30p per share, against forecasts of 29p, and up from 23.2p a year ago.Ex-dividend - Land Securities - Europes largest property investor said it saw market conditions improving for London offices when it posted an estimate-topping rise in net asset value last month. The full-year dividend increased by 4.5% to 37.1p. The City was particularly encouraged by the outperformance of the groups 3.4 billion retail portfolio.Thursday 24 June Finals - Computerland - The IT services provider recently confirmed that second-half trading had progressed well, and that results should meet market expectations of around 1.8 million pre-tax profits. Its January purchase, Information Technology Solutions, has been successfully integrated.Finals - Reliance Security Group - A profit warning in April sent these shares plunging from 700p to their current 550p levels. The group blamed difficult conditions in the security sector, with continuing pressure on margins and lower levels of new business in management and manpower divisions. Loyal shareholders are bracing themselves.Friday 25 June AGM - Jennings Group - Shareholders at todays meeting of the AIM-listed North West pub operator should be fairly content. In May the group announced an increase in profits and dividends. Discussion should be largely focused on potential acquisitions in the year ahead.AGM - Keller Group - The ground engineering specialist will have to work fairly hard today to cheer its shareholders. Marchs results were less than spectacular, with management conceding they marked a disappointing pause in the groups long-term track record of growth. Keller will need to address its strategy in the troubled Makers and Suncoast divisions.ThoughtsLast week we saw some strange short term volatile moves in opposite directions. This made intraday trading quite difficult unless you took profit quickly. I would put this down to light volume in general, plus the fact the Big Boys as I call them had one thought in mind going into options expiry at 4500! On the weekly chart shown below, you can see the main trend for the week was pointing to 4500 and our old friend hindsight confirmed that on the chart by Tuesdays close. But the sharp intraday trends (blue lines, down and red, up), accentuated by light volume kicked in every time the Index moved out of that channel.

This alone made it harder than normal unless you were very nimble. We have actually settled below the bottom of that channel as of Fridays close. So, did every one go home early, or will the trend continue? From a technical point of view, the levels to watch are 4440 to 4520 to lead us out of the current sideways action. There does seem to be strong resistance at the upper end of this range for the last 6 months (See Chart below). This would lean me towards the Market staying within this sideways range for the next couple of weeks. With the odd intraday move above or below with the light volume. A daily close either side of these boundaries could lead to a stronger move away. The much hyped next 10 days into June 30th (Fed decision and Iraq handover) will probably cause some good intraday volatility, but disciplined and nimble trading will be important. We have a much fuller Economic calendar next week in the US and Europe that could affect the interest rate decision in the US and also some big earnings reports.

Finally, the catalyst, I believe that will drive the market, and is probably the most powerful market driver into the US elections in November is the price of Oil. You have the richest people in the world controlling this commodity. (A lot of the US oil barons are backing Bush because he has made them extremely rich, and they wouldnt like John Kerry to spoil their party). On the other hand Al Quaeda et al, who are fundamentally against Western Capitalism, know that is the World Markets jugular. Unfortunately this could create Geopolitical events in the Gulf etc to escalate and pressure the price. Which, in line would put pressure on Global Stock markets. I have attached a chart to show that oil is still firmly in an uptrend, even after a 10% pullback from highs, it was up slightly last week. I for one will be keeping an eye on oil related news/ prices, and I think the Norway strike announced Friday is more significant than people think. They are the 3rd biggest producer of oil in the world!

Well, sorry for rattling on and meandering around a little. But the next couple of weeks are going to be very difficult to trade but there will be good opportunities.. So dont forget, be nimble and be disciplined. But most importantly, dont forget in the words of Hill St Blues Be careful out there

Good luck everyone David2000 - Aka Colonel D2K (Goldilocks Regiment)

All the above comments are purely a personal opinion and no investment advice is intended. Please do your own research