Interim results are due on Tuesday, 15 May 2001.
Apart from that the nasdaq is falling and Alan Greenspan speaks tomorrow.

There was also an announcement regarding an appointment on Friday that was covered in the FT today(?) as I recall.

There seem to have been some large trades in the last hour and afterwards both buys and sells.

Oh for a crystal ball, the bulls are being greedy and the bears are running scared!
Hi Darth,

Can you post the link for the thread you mention?

EGS closed up +18 (6.7%) to 286 today...some positive news/rumours coming through...

16:24 - Energis: Rumours of a bid lift stock in dull market Shares in the provider of telecom services are leading the FTSE 100 risers, up 15.5p at 283.5p on rumours in the market that Cable & Wireless is stalking it. Earlier rumours had suggested that National Grid was looking closely but brokers dismissed the first rumour...

On the other hand: Credit Suisse First Boston is advising clients to “buy” shares in Energis (EGS - news) at 268p and has set a hefty target price of 600p on the telecom group’s shares...


Some outstanding spread shorts on long vod/short egs also seem to be getting out of the way...

Results quite impressive...resulting in plenty of positive comments/recommendations...

Overdone on the CE resignation...

I don't see any reasons why EGS shouldn't be trading well over 300...

Chartwise price jumping up after hitting the lower BB twice (quite a bullish sign, last time this occurred price bounced all the way up to the upper BB scoring 120 points)...BB widening up suggesting sharp price movements (we've already seen the downside)...both stochastics and RSI flat at the oversold...while OBV and MFI slightly ticking up...

As for me, I've traded them many times since last december all with profit apart from the day the CE announced his resignation when it hit my stop loss for -21...I got back in at 260 with a bigger stake, already more than covering that loss and promising a nice profit...

(No financial advice intended)
Trading EGS

Riz, I've traded EGS over 40 times in the last few months, about 65% successfully.
Not long at the moment (closed @ 285 first thing Thurs), but like you say the chart may be forming a bottom.

Still resistance around 285, interesting to see if this can be broken.

A chap by the name of Fatpants & I have regular chats on trading EGS over on Hemscott during market hours.

Good luck.
yep, I like the look of this too. I like short term trix crossovers for following EGS and this is looking promising.
Hi Darth, not sure if you are familiar with Elder's book 'Trading for a Living' but he uses a couple of indicators he calls 'bull power' and 'bear power'.

Just run the recent prices through my spreadsheet and compared the values for the recent closing lows on 03/04/2001, 09/04/2001 and 17/5/2001. For the last 2 lows bull power and 13-day EMA both rising, I'll be watching EGS very carefully next week.
Not one i've been following but i've taken a look this weekend and read the opinion in the hard copy of the telegraph this morning. Depending on how the market goes this could be a winner.
Up +13.75 (4.8%) today at 299.75..a major support/resistance bet is on EGS turning 300 resistance into its current support level... I am still holding them, though already +30...

Now we don't want to encourage newspaper tipsters, do we?. We've got our own super crew!For all we know, they may be reading our BB for their own tips.
Up +13.5 (4.5%) to 313.25 with an aggressive volume of 26.5m.. National Grid indicated that they are less likely to sell their shares in EGS soon as they expect the current price to improve...thus suggesting last year price..and reassuring comments for the long term value of EGS...but as they are buying Niagara for 8.9 billion pounds and making other investments, they'll probably need cash, maybe they are trying to signal CW. to make a proper offer..

LONDON (AFX) - National Grid Group PLC is less likely to undertake an imminent sale of its 33 pct stake in Energis PLC than it was 12 months ago, finance director Stephen Box said in an interview with AFX News.
There has been strong speculation in the last week that Energis is a bid target for Cable & Wireless PLC.
Box would not comment on whether National Grid had been approached by C&W but did say current market conditions make an imminent sale unlikely.
"The prospects of a near-term trade sale are much lower than they were 12 months ago," he said.
National Grid has stated it intends to exit the business within the nextthree years, but Box said they will not be rushed into a sale.
"A trade sale remains the most likely exit route at some point but we're prepared to sit on the stake particularly at current prices. We don't see ourselves as a forced seller and are quite happy to wait until more sensible
values reemerge in the telecoms sector," he said.
Box indicated a sale next year is a more likely option.

Down -5.5 (-1.8%) at 294..joining the -ve sentiment and losing 300 support..providing an opportunity to Mr Stephen Box, a non-executive director to purchase 23,000 ordinary shares in the company at 292.95p per share....

Well if he buys I hold mine :)