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 :-)) ?

Erm...............392..............?????? You've got a long wait!!!!!

Sorry I do tend to make this mistake an awful lot these days, DEMENTIA! 292.0 Dohhhh!

Stop moved to 302.0 to lock in +10, looked promising early doors, still could be tomorow.

Stopped out +10. Sell order @ 297.0

StockMarketWire.com
Man Group cut to hold from buy at Espirito Santo Execution Noble, TP 315p

Possibly a wee bit premature, out @ 286.0 +11

Hmm......looks like the AHL side of things are struggling again, so may ditch my stock on the third bounce to 310p.

Man Group has been awarded a managed account mandate for initially EUR 1.2 billion by Bayerische Versorgungskammer (BVK), Germany's largest public pension fund with more than EUR 50 billion in assets.

Under the agreement, BVK will start allocating funds over the course of 2011. BVK will gain access to Man's managed account capabilities, with the benefits of increased transparency, liquidity and control which managed accounts offer. Man, which has more than a decade's experience in managed accounts and has grown managed account assets to over USD 8.7 billion (as at 31 January 2011) , will provide services with regards to operational due diligence, manager take-on and risk management oversight for BVK. Bayerische Versorgungskammer will have sole discretion for manager selection and portfolio construction.

StockMarketWire.com
Man Group upgraded to hold from sell at RBS

Man Group plc has agreed to sell its c.25% interest in BlueCrest to BlueCrest for $633 million. Man's investment in BlueCrest dates from 2003, and will generate a pre-tax profit on disposal* of around $250 million.

The proceeds of the transaction will add over $500 million to Man's regulatory capital surplus, previously reported to be around $300 million on 31 December 2010.

Peter Clarke, Chief Executive of Man, said:
"The sale of our minority interest in BlueCrest is part of our strategic focus on Man's internal investment management capabilities. We have had a long and successful relationship with BlueCrest and this transaction crystallises a significant profit for shareholders on our original investment. It also generates substantial cash and regulatory capital resources, further enhances our strong financial position and allows us to continue developing our core investment business, attracting assets and building on our leading global franchise."

StockMarketWire.com
Hedge fund manager Man Group said this morning that Funds under Management (FUM) at 31st March 2011 are currently estimated at $69bn (2010: $68.6bn).

Q4 is expected to see net inflows of approximately $0.7bn, reflecting $5.3bn sales (predominantly in open ended alternatives and long only) and $4.6bn redemptions.

Investment movement was flat across the firm in January and February, with positive performance at GLG counterbalancing a negative period for AHL; performance turned sharply down with markets after the Japanese earthquake but has since partially recovered.

Man said good progress was made on strategic objectives: integration of GLG; sale of BlueCrest stake; significant Multi-Manager mandate win.

A definitive agreement was reached to acquire the remaining 50% of Ore Hill and integrate into GLG.

Statutory profit before tax from continuing operations is an estimated $280m including the impairment of Multi-Manager goodwill (2010: $541m); adjusted profit before tax estimated at $560m (2010: $560m).

Diluted statutory EPS from continuing operations is an estimated 7.5 cents per share (2010: 24.8 cents per share); adjusted EPS is an estimated 24 cents per share (2010: 25.5 cents per share).

Man said the financial position remains strong; regulatory capital surplus of around $350m increases to around $850m with BlueCrest proceeds; net cash including the BlueCrest proceeds of $900m.

Left a Buy order @ 252.5 more in hope than expectation. Would like to think when shorters have had enough that SP has to get a wriggle on but not holding my breath.

3 Broker Upgrades To Buy Today, Is That Good News? Hmmm we'll see.

APRIL IS ALWAYS GOOD FOR MAN. IN HOPE.in at 246.5p

Londons Man Group, the worlds second-largest hedge fund manager by assets under management, has lost more than $2bn over the past month as a result of Japans devastating earthquake and tsunami.

The company on Tuesday warned investors of the impact the crisis was likely to have on its business, but remained upbeat on a medium and long-term view for the company and its investments.

The past few months had been a negative period for its computer-driven flagship AHL fund, it said, with performance turning sharply down with markets following the earthquake in Japan.

March brought an extraordinary concentration of macro shocks, Peter Clarke, chief executive, told shareholders in the FTSE-listed companys pre-close trading update. The situation in Japan had led to a decreased risk appetite and increased volatility in markets, he said.

AHL, which manages about $22bn almost a third of Mans $68bn total has in recent weeks suffered alongside several other large algorithmic funds, some of which have had steep drawdowns.

AHLs portfolio, which is entirely picked by a series of proprietary complex computer algorithms designed by a team of more than 100 researchers, is understood to have been bullishly positioned.

It had suffered because of significant reversals across equity, commodity and currency markets, Man Group said. However, the fund has since pared back many of its losses.

Man remains sanguine about the funds ability to recover. AHLs performance is known to be particularly volatile in times of market stress, but it has a two-decade record with average annual returns of 16 per cent. It has only ever had one down year in 2009.

The fund remains 10 per cent lower than a peak value below which it does not take lucrative performance fees of about 20 per cent from investors.

AHLs recent travails come in some part as a vindication of Mans decision to acquire rival fund manager GLG Partners last year, however. The merger had fundamentally reshaped out business, Mr Clarke said.

The decision was taken mainly to reduce the companys dependence on AHL for its revenue streams. AHLs negative performance has been counterbalanced by positive performance numbers from some of GLGs wider range of funds.

Mr Clarke said: The work we have done this year to expand the range of investment styles and solutions we offer our investors, coupled with strong performance, broad distribution and a sound financial base, continue to position us well to meet investor demand globally in the coming quarters.

Added @ 244.3 probably need my head examined!!!

Seems that these 100 researchers with their algorithms aren't all they are cracked up to be.

It's not a surprise as you might notice that the new generation can't even do simple mental arithmatics.

Have you been away somewhere exotic, hlyeo? Not seen your usual one liners recently! ;o)

at last, a bright spark in this boring market
hope you're still long cc