I suspect trading tomorrow will probably answer this conundrum, but I know there are some far wiser owls than me that contribute to this bb & I would be interested in their opinions.

My question is this: the chart below looks to me like a pullback of the uptrend (ie when it went north through 14.00) however I am unsure as it has now broken down through 14.00 whether this is trending up or down :-(

So what do you think - up or down, or should I just flip a coin :-)) ?

Merrill support for Man Group

MoneyAM

Shares in Man Group are likely to be in focus this morning after Merrill Lynch placed the financial services group on its 'Europe 1' list.

In a note published this morning, Merrill Lynch said Man's recent sell off, from the 1,650p level to the low 1,500s, had no fundamental justification.

Empirically, Merrill said it appeared as if the goings-on at Refco lay at the root of Mans recent weakness, as its sell-off coincided with the first announcement of Mr. Bennett's prima facie quirky disclosure practices.

In Merrill's view, this was a very poor reason to sell Man, saying that there was no linkage at all between Refco and Man.

It suspected that the reaction was simply because some had hoped that a lively Refco share price could spur Man into spinning off Man Financial in short order.

Merrill said that it never believed this, regarding Man Financial as a valuable asset.

In its view, there was little doubt that Man was a cheap stock trading on a p/e discount to other European asset managers and at a 20% discount to the broader market.

Merrill said it believed that what made Man very cheap was the prospect of improved new business momentum.

It said it expected that recent strong performance, and the absence of negative newsflow like GM/Ford should begin to show through in Man's performance in its first half 2006 results on November 17th.

Merrill retained a buy rating and a 2,200p price target.

...storm In a tea cup, onwards and upwards.

a much neglected company .... this is expecially for maggie!

i think the chart looks pretty good, always assuming Dow does not start getting silly again

however, watch out as sp draws near 600 as there could be some quite strong resistance where 25+50 dma converge

Confess that this isn't one that I have been watching, but the chart would suggest that historically the sp is close to the bottom. Current broker target is 630p.

YES HARRY TIME TO GO IN.

Thanks for chart cynic was away on holiday wish I'd stayed away! Think this one has been hammered because of it's hedge fund connections. Hope you're right XS.

share Buy-Backs have wasted money!

Why do they do it?
(OK 149m, isn't much compared with the Mkt Cap....but it sure buys a lot of investment which could help improve their average investment levels - now that would make sense)IMHO

Av price 4.95 (see RNS), - and today?
2.75 - chuck out wasteful Management . . . desperate to secure their bonuses at any cost.....today as this waste is exposed the sp fell 30% Ooo-er.

Stay out could fall sub 200p.

Current broker target is 560p though, for what it's worth!
Also support at 220p which is the 52 week low.
EDIT - Apparently not - Now 210p!

Now closed at 189p I think they could fall to 40/45p in the next 12 months.

Goes ex-divi on the 26th Nov '08.

heading to the important 200p level.

Considering that this is a sector currently out of favour & also EMG went ex-divi a while back, the sp has held up well (currently 252p). Graph is looking positive, but 300p level may be tough to break.

I agree Harry its looking great considering.

Almost 300p today Harry I never would have thought it.

I'm out at 279p. Have divi plus profit (pumped in to IEC), so will now watch for a dip. Expect 300p to be a resistance level. As you say, amazing considering this sector is considered the bad boy, with customers wanting their cash at any cost.

Well done Harry as you say 300p big level will it break it.

244p the low today. Glad I got out, but maybe worth getting back in again for another go at the 300p level?

Back to 200p more likely.

EK has been short for a while now. Are you also shorting this hlyeo?
I only really bought this for the divi, so probably won't get back in until next divi is due.