Might go for 6000 today, support at 5905. China down 5%.

Support 5924 5905 5902 5893 5850
Resistance 5960 5962 5993 6005 6050 6164

Market Summary for 24th February 2016
The FT100 fell quite heavily in the first hour of trading as prices of copper and crude oil slipped.
There was also some nervousness at the Wall Street open which saw 5850 being tested a few times with a close at 5867.
In after hours trading there has been a gradual recovery and currently around the 5925 level.
The main sectors to suffer were oil and commodities with housebuilders and gold to the upside.
There is still a flip-flop between economic driven sectors and non cyclic sectors and they seem to be oscillating on almost a daily basis.

US & Asia Overnight from Bloomberg
China’s stocks slumped by the most in a month after money-market rates jumped. The Aussie dollar fell on concern investment is weakening while oil resumed declines and gold advanced.

The MSCI Asia-Pacific Index of shares halted two days of losses, while China’s equities slid as concern grew recent gains were overdone relative to the outlook for the economy. U.S. crude slid back below $32 a barrel and copper extended a rebound. Japan’s Topix index snapped a two-day drop after reports the government may increase spending. The nation’s 40-year bond yield fall below 1 percent for the first time.

Crude’s gyrations and concern that China can’t regain momentum has dominated financial markets this year, spurring central banks to ponder further stimulus. Global equities have swung around over the past week, moving between gains and losses as investors tried to get a handle on the world economy’s prospects. U.S. Treasury Secretary Jacob Lew said Group of 20 finance ministers wouldn’t deliver an “emergency response” to the market turmoil at their meeting this week as we aren’t in a crisis environment.

“The new information that has been processed by the markets is the question of whether central banks are nearing the limit of their ability to soothe market fears and keep financial variables stable,” said Sam Tuck, a senior currency strategist at ANZ Bank New Zealand Ltd. in Auckland.

Stocks
The MSCI Asia Pacific Index rose 0.1 percent as of 2:17 p.m. Tokyo time.

The Shanghai Composite Index dropped 3.9 percent and Hong Kong’s Hang Seng Index retreated 1.2 percent.

Agile Property Holdings Ltd. plunged the most in six months in Hong Kong after estimating a 70 percent drop in profits. A gauge of liquidity in the financial system jumped the most since Feb. 6, the day before the week-long Lunar New Year break began. The Kospi index in Seoul rose 0.1 percent, paring gains of as much as 0.8 percent.

The Topix jumped 2 percent. Construction companies and iron and steel producers drove gains after Asahi TV reported the government is considering an extra budget of about 5 trillion yen ($45 billion), citing unidentified ruling party officials.

Standard & Poor’s 500 Index futures were little changed, after the gauge reversed a slump of as much as 1.6 percent in the last hour of Wednesday trade, ending the session up 0.4 percent amid gains in commodity stocks and technology shares. The Nasdaq 100 Index added 0.9 percent.

Commodities
West Texas Intermediate crude declined 0.6 percent to $31.97 a barrel, after ending last session up 0.9 percent at $32.15 and reversing a slump of as much as 4.1 percent.

Stockpiles of gasoline in the U.S. fell 2.24 million barrels to 256.5 million, according to the Energy Information Administration, as demand climbed on pump prices near a seven-year low. American crude inventories, however, rose by 3.5 million barrels to an 86-year high of 507.6 million last week, according to the EIA.

Crude has slumped more than 13 percent this year on speculation a global glut in the commodity will persist amid the outlook for increased shipments from Iran and brimming U.S. supplies. Oil ministers from Iran and Saudi Arabia signaled Tuesday that they may not be willing to curtail production, which weighed on prices earlier in the session.

Gold climbed for a third day, advancing 0.4 percent to $1,233.57 an ounce, heading for its longest run of gains in more than two weeks.

Currencies
Australia’s dollar weakened 0.3 percent to 71.72 U.S. cents after a government report showed businesses’ annual investment plans fell to the lowest level in nine years.

The yen slid 0.3 percent to 112.51 per dollar, halting three days of gains, while the pound lingered above $1.39 after dropping to an almost seven-year low of $1.3879 on Wednesday amid concern regarding a planned referendum on whether the U.K. should remain in the European Union.

Bonds
Japan’s longer bonds surged after an auction of two-year notes drew a record-low yield of minus 0.183 percent. The yield on 40-year notes dropped below 1 percent for the first time and the rate on benchmark 10-year securities declined to an unprecedented minus 0.065 percent.

Treasuries advanced, with the 10-year yield declining by one basis point to 1.74 percent. [Bloomberg]

FTSE 100 Outlook and Prediction

FTSE 100 Prediction
FTSE 100 Prediction

We are waking up to news that China is off 5%, though the FTSE 100 has held up pretty well overnight despite this. We are just about to test the daily pivot at 5924 first thing, which may see a push up towards 5959 before some more downside to 5900. The FTSE 100 certainly recovered well yesterday from the dip down to 5850, adding just over 100 points as the algos and the US kicked in. Despite China being down I feel a bit more bullish today, maybe as they will probably expect more stimulus measures, and the 30min chart is showing a long at the 5905 area, as is the daily chart. It’s a risky long granted though! If 5900 area does hold then we could well get a rise towards 6000 again, otherwise 5850 (yesterdays low and the 10 day Bianca) is highly likely, and I will stand corrected and say that 5750 is still on the cards. If we don’t bounce from 5900 then it will make that recovery yesterday look like a stop hunt (which is distinctly possible). So, initially today the 10min chart is saying bearish, with resistance at 5945 and 5959, whilst the 30min is bullish, possibly for later on, with support at 5900. Could be a choppy day!

212 Comments

  4. Agree it will be choppy. It is one of those days where technical analysis is little help to navigate I think. The U.S. Market later will be be spiked a bit by China and the euforia about oil ‘stabilizing’ Ewing away for realization that demand for oil is weak and producers will never agree to cut production. I think we will go down quite a bit this pm.

    1. Stuppid American spellcheck and autocorrect. I meant US will be spooked and euforia about oil up ebbing away.

  5. Morning
    Is it all a dream? I half expected to wake up surrounded by beeping machines and concerned relatives. 🙂
    What do you make of it, 100 point V shapes, 100 point gaps…..
    After I got back from the most expensive steak of my life last night, I posted a rather fantastical sounding rationale for the DOW antics.
    It obviously sounds like major sour grapes from a disgruntled bear, but the underlying concern about a highly stressed derivative market with major sectors of the Global economy undergoing seismic revaluation bears thinking about.
    Was the drop a bear trap or is this a bull trap? Unanswerable.
    Like Rick I came out swinging first thing, big shorts at 60,70 and 80 and now that I’m in blue ink, just doing some rather large (for me) scalping off that, if 40 goes then a trip to 20 maybe otherwise I expect a pretty quiet session with all eyes already towards the DOW for more end of month antics.
    Those sensible Germans don’t seem to be particularly phased by it all so far.
    My margin is now bigger than the cost of my first house.

    1. Morning tmfp, Germans don’t look very happy at all today with this dodgy spike. I was expecting a big drop but as you just said, all eyes on Dow now I think.
      I am all square now at 5950 took +70pt total so far this morning 🙂

      1. Morning tmfp,I was just wondering about Germany & China,guessing there is something there we arent noticing.Was going to do a joke about Bernie Inns,but not sure how you’d take it this morning,have a good day today. I think we would all take your bad days if we could get your averages and whatever strategy you decide to go with after what you said last night will work soon enough with these moves too.
        Here is Peter Brandt putting a Bear case yesterday:
        http://www.peterlbrandt.com/is-the-present-decline-in-sps-a-deja-vu-of-2011/

  6. Yes, we still have 100pt gap from cash so I am expecting a dip to 5900 atleast then who knows after that

  7. Morning all, don’t know what is going on here….anyway, I got stopped out of all short at 20 last night, total cost of around 35 points for a weeks worth of concentration. I’m pretty sure that is the wrong thing so short at 50, and will build at 6000 etc.

      1. Morning Rick,yes I should have checked trade sizes through the week properly instead of relying on Yesterday(lazy habit from AIM shares where stuff is never subtle),I dont believe there wasnt front running .Your right,always take the money, good trade, but I want to build a bit of a position. I’ve got a lot of outgoings at the moment and need a place to put some cash or I dont end up with any.On a 2 yr timescale the capital seems safe and the return will be better than I can get elsewhere with “safety”,even from negative interest rates :).I think the Govt stake is good backing for the Div even in a poor environment,think the Sector has decided on divs as a tool,HSBC raised their div earlier in the week and today will put a nice point in the LLOY chart to watch it move around(Hsba are in a hell of a downtrend,used to be a great trading share though).Not saying I wont trade it as a separate thing,think that opportunity will show up fairly often.The U.K property bubble popping could stuff my plan too and Brexit speculation wont help to maintain it,Carney seems a bit rabbit in the headlights with property,but his background was managing a commodity economy in a commodity boom,so its probably wrong to expect him to know what he’s doing just because he’s overpayed 🙂 Thanks for that link.

  9. One thing to factor in for the FTSE is that American money might be flowing in now the pound is on the move around brexit, so I would expect the FTSE to be out of sinc a bit for a while with its peers.

  10. Morning Chaps,
    Trying to be extra good today!
    I’m positive on 10 mins (>5943) – Positive on 30 Mins..(>5941)
    Will probably have a look at a trade off 5980 S

  12. All square now after stopping the last bit of intraday short at b/e.
    Momentum looks pretty firm on both atm, I’ll see how 80/85 behaves, maybe short a spike towards 6000.
    Actually, a little 10 min long at 76 10 either way.

    1. Thanks Hugh for this – I am holding my short at 5974 for a while stop 5994.
      Expecting FTSE to be around 5950-5940 before Dow time so lets wait and see

      1. tmfp – Just did the one from 74 to 72.
        Obviously needs a bit of a gap in the averages.
        & Stop maybe at candle Hi/Lo.
        I don’t think you use the Pro Real Charts on IG but you can ask it to alert you when the price = and then associate trigger Short or Long on it.
        Useful.

        1. The HTML screwed up there a little….
          …can ask it alert and associate trigger when the price is equal or less than MA – etc
          Hope you follow – let me know if not.

    1. Pretty boring now but I am still expecting some decent sell off from banks and seems like Dax has no real direction today and it’s just following FTSE until Dow!

      1. Oh well suckered in there by a false break on the DAX, struggling to hold over 9240 now but being towed along by us for another try at our highs, s/t overbought, selling a spike to 90’s

    1. Yes nudging in to the 90’s and pretty quiet, shorted 93 took 8 on half, sort of waiting for 80 on the rest

    1. Thanks again Hugh for another decent chart!
      I just can’t take this rally seriously today because this is a nonsense bull trap (That’s what I think).
      Still short at 88 though and risking 22pts from this morning profits.
      Banks are failing, economies are going down and people are still buying bank shares because of temporary dividends? This just doesn’t make sense at all.
      I am still waiting for my this morning big drop 🙂

      1. Hi Rick,
        I kind of like doing those trade targets 3:1 if only it to give me some idea of the underlying strength of the move. (It’s the Fib tool re-jigged)
        If the targets are being met it kind of indicates the prevailing trend – in the short term.
        If we get another bounce of that trend line 5983 Tgts 5993 -6003 and then 6013.
        Midday > before the US > snooze.

        Just did another of those MA trades –

    2. Yeah, sort of doing the same thing here after getting a bit bullish in the 70’s, but switched to shorting the blips too early.
      A combo of the two means I’m roughly keeping pace earnings/rally pt for pt, managed to switch back to hit 6000 long again and now looking at 10/04 continuation/fail but aware in the overall context 9300 might prove enough for the DAX given the time of day, so this’ll be my last long I think.

          1. Getting bigger and bigger with the shorts, half out for +5 and b/e the rest, there’s a short term top in here somewhere.

      1. As I typed got whipped out! Now, I think a wait to see what end of the month shenanigans will go on the Dow.

    1. Lol, thanks for that, doesn’t help me decide whether to take +10 on the -13 or not.
      Moment has passed for the mo anyway, will hold for the sake of 6 I think.

  22. Question to be asked if going for a BIG short….when was the last time the Ftse closed up more than 150 points? Food for the Bears!!

  23. Well, no weakness here this morning, helped by good old Lloyds.
    DAX right on a tipping point either way for me at 9325.
    Looking at the DOW, resistance around 595, otherwise haven’t a clue.
    We just blipped on the 1330 strong durable goods figures presumably, jobs were as target, but quickly back down. Very surreal stuff.
    Missed a quick +10 there whilst penning this missive, the things I do for you…. 🙂

    1. Was thinking about a close for the Dow on Friday and clearly +500 by as much as possible fits the double bottom Bull thing and too much wick never looks good on a chart,current high 16663,but last weeks close was 16388 so anything above that keeps the Bull cause intact and it doesnt have to do anything from here,that would be surreal.

      1. Yeah WSF, a weekly close below 16400 would be good for bear above 16600 good for bull. Monthly 16429, so all to play for.
        15 points of pre DOW firmness just now and new daily highs….

  26. I have no clue today what is best, get out of my shorts that are about 30 points off market or roll the dice and hope the US cools off a bit with all this hot air pushing things up.

      1. Just made a mess of this, should have not traded today, too absent and I knew at 6.30am this was going to be a another non comprehensible market movement. Decided to stick with my shorts and take a bit of a longer view, maybe add to them at various levels and see what next week brings.

    1. Haha nice one mate. What does FGS stand for? For God’s Sake? 🙂

      Quick take +4 it’s going to bounce!

          1. I was short in my ISA account yesterday with a 1x ETF (still open from the previous day) and a 5x ETF during yesterday only, which worked well. Having looked at the news overnight I had an idea it wasn’t going to continue down, so I’ve been waiting to see what happened when the US market opened.

            On my chart I’ve got a very well defined downward trend about 400 points deep (with resistance about 6000 recently), and we’ve been alternating between the two in quite a regular pattern, so I felt that something a little over 6000 is a good level for a short. The lines I’ve drawn might be a little inaccurate, but I don’t think I’m too far off.

          3. I’m trying to reply to your 3.53pm comment, but there’s no reply link underneath it for some reason.

            The plan was to hold this trade with the expectation of an eventual fall down to the support line somewhere around the 5500 mark. However, it has been flapping around quite a bit so I closed it at 5999 for a 4-point profit.

          6. Good, you obviously don’t marry stuff and recognise a profit’s a profit. Good luck.

            (you can only reply in one column, no nested comments on WordPress).

          7. Thanks. Yes, I make sure to switch off the emotions whilst I’m involved in this.

            I’m anticipating a lower open tomorrow morning for the FTSE 100, with a further fall during the day. I’m not quite sure if it’s wise to enter a short tonight, or if that’s not the done thing, for reasons that I don’t know about yet (overnight charges etc).

          8. In the end I shorted again just after 11.00pm, at 6043.7. It had been as high as 6059, then came down a bit, hanging around at 6049-ish for a while, then began falling more quickly.

            My thoughts about tomorrow hadn’t changed from earlier when it was 6013, so at 30 points higher the trade is potentially more favourable.

            Stochastics on all my charts from the 1-minute to the daily are all over 80. The resistance when it has broken 6000 recently seems to have been quite strong, so off the back of a 2.48% rise in one day, and considering the current level, I am confident with this short.

  29. Long DAX @9345 now. If you can’t beat them, join them (all out of shorts now and managed to break even)

      1. came out @58 and reloaded just now @45, just going to do 10-20 point scalps. Its is what this BS market deserves.

          3. Nice long Jack, Those two candles at 15.10/15.11 back to back with no retrace were a good sign for a bounce too.

    1. DOW/FTSE gap is interesting again, coming tighter all the time (if you take into account last night’s stretch). Sold 3 FTSE at 6000, bought 1 DOW at 16472. Another way to waste money perhaps.

          1. Ha ha! So by mistake I’ve got myself a bit shorter than I really meant to at lower than I meant to. Hey ho, roll on 5750.

    2. same PIA who told everyone to buy at 14.15pm? I don’t think these folk have ever been right so I tend to do opposite 🙂

      1. Rephrase that, We are desperate for the DOW to go south….
        It’s got a nice bit of momentum going just now, higher rsi lows, 2 steps up 1 back. Under 16500 would be a sign of a bit of weakness maybe starting

        2. I know – Dow looks bit weak now plus MHH is coming on us and it’s time to bank some profits.
          I am all square now, after the stupid bull crap whole day.

    2. Si – Very friendly advice for you – next time you get close to 16100 or anywhere near that then just close your positions and start again.
      It’s definitely better than not losing a big chunk of money from your account plus you can recover what you lose within couple of days or probably in a week or two.
      🙂

    3. I am getting tired of these positions… But I know that if I was to close them then it will tank right afterward.

      1. So it’s your fault then?
        The added problem of being frozen into an underwater situation is I found it very difficult to do other any proper trading while it was still going on.
        With my current losing short I can still go about my day to day stuff, because it’s in a “special projects” file and I honestly forget about it when day trading.
        That’s one of the reasons I use such tight stops is I can take it or bin it and then move onto the next one fresh.

      2. Bet the overnight funding charge is eating into your account too. It’s a real pain holding positions in the red. What’s your escape plan?

  35. May just be turning for a bit of bear to start the MHH short at 12 12 either way The way it deals with 05 this time will be a guide, if the bounce is less than a handful good to go for a look at the lows then a bounce at the bell is my plan

          8. I couldn’t see new lows at the close.
            You did better than me by miles, 58 trades 79 points, IG made nearly as much spread as I did profit lol.

          9. I did something like 16 trades today – total points taken 118.
            I try to avoid doing trades between 11:00-01:00, for some reason I never make any money 🙂

          1. Was looking for a big drop, whole day but do you know what scalping is not too bad.
            Total for today +112

          3. Lol Jack 2 – Don’t know what you mean by Rich tbh.
            I think everyone is Rich if you can afford food and a good night sleep 🙂
            I don’t trade everyday and today was a good day.
            Cheers

  37. right, no money to be made anymore scalping and no clue if this is going up or down short or long term.

    3. Hi Argyle, yes would be good, I think that performance yesterday has made shorts a bit reluctant, but if the ball gets rolling then yeah.
      50 pts down from here= about 16350 on the DOW which is a bit no mans land, if it got down there then I’d look for more, but maybe shouldn’t expect mega moves every day.
      Good luck and goodnight.

  40. yes, tmfp, that was a short lived bounce at 15.11, but I got only 5 pts on it. Like I said it was an experiment.

          1. I am sure you mean well, but don’t say that, it is only a further 1% rise on current levels so entirely possible by tomorrow. There are some rumours that the powers that be want to prop up the oil price and get it to just below $40 dollars and then manage the price further through production agreements among Saudis and the rest of producers. This is not easy but Russia and Saudi Arabia are running up a deficit and can’t go on for ever at sub $40 a barrel. Now if we assume oil will rise rapidly (and history shows you the kind of moves it makes) to $37.50 then that is something like a 5%+ add to global markets. So just saying..

      2. Hi Si, we definitely need a close below 16500 to keep the bears alive.
        Also signals are suggesting a downtrend like hourly RSI etc.
        I hope this will work out for you mate!
        I am still hoping DOW will be somewhere in 15000s or even 14000s very soon.

      1. It was higher on Monday,but this candle looks more Bullish at the moment.Probably best to keep asking yourself if you would go long here and judge it by that imo.I wouldnt go long here,but I’ve been half asleep all day and have only done 6 trades and 4 were Dax,so this is a do nothing biased day for me.Good luck.

        1. I think there is only one way this will go. The question is where is the top 16620/50/80. Fingers crossed for Si. Good luck mate.

          1. Yeah it can go a lot higher from here without even invalidating the Bear case,50% retrace is only around 17000.I meant I wouldnt long it now right.Jumping on momentum against a previous resistance area.

    1. no offence,but fwiw that round number is maybe a bad place for a short order imo shorts could have stops in place around the last high which was 63,so you could trigger a short into a rising wave of buying.

      1. Hey WSF

        No offense taken! It’s the 22nd feb at 6pm high, so has already shown decent resistance. Also hit that level on 13th Jan.

        Looks like its turning down anyway. Missed by 6 points.

        1. Interesting comment about other traders short stop placements, I’d never thought of it like that. Order still on though!

        2. Yes,it’s become potential breakout territory though,so kind of the same risk as going long below it,if it was within a range it would seem safer to me,if it wasnt such a key level.I’m probably a bit more bullish than most people at the moment though,so maybe just that.The day candle is pretty bullish at the moment and there is the rule of thumb about 3 tests on a level.Probably just that for most of the last decade R’s have never held 🙂

          2. 🙂 Sorry, I was trying to remember that Navinder Singh Sarao,quote from his explanation to the US investigators,where he says he is an Old School Point and Click Trader and why,cant find it though.

  46. Further to my note above here, oil just hit $36 and rising. This will further boost markets up and pretty convinced now we will get a run up, further filled by a lot of short covering tomorrow. Long FTSE @6040

        1. Dutch, good luck but I would rather the market fell for Si. If I review everything data and price wise at the mo then I would plump down not up.

          1. I think Dow will close 16550 odd and drift down during the small hours with FTSE around 6000 in morning.

          2. Thanks! 🙂 If I get out of this I’ll have to find some way of buying everyone a beer! 32k down currently.

            1. I hear what Argyle said and Si believe I wish for you that you were not at this loss, I lost £40k last year in a similar scenario and it is tough, many if not all have been there. However it is important to learn from experience and even if you can’t emotionally on this trade, print this in your head. You can never ever make money in any trade if you don’t have the decipline to cut when your plan is not working. I am still like after nearly 20 years of both professional trading and now for ‘fun’ everyday like a cocaine addict or something confronted with this dilema. So write your rules down and include this one, stick it on your wall, make them the wallpaper of your phone etc. and then maybe in 12 months time (or sooner if I am dead wrong) you will have made all that money back and more.

  47. Si, I’m no expert. However I have been around long enough to know you won’t get stopped out. This will fall quite quickly tomorrow. The oil rise is due to a meeting in Mid March which was known about but has been highlighted. Oil price bounce is turning down already. The last 24 hours will be reversed tomorrow. You may have to have balls of steel and wait a week or so, but your trade will come good. Hang in there bud and concentrate on how you will feel when you are £10 k in profit.

    1. Hi WSF,yes I’m keeping an eye on things,closed out 9 small trades today,I just needed a break,all those late nights watching China in the small hours caught up with me.It was getting me down abit so I decided to have a break,I will be back I’m just getting on with some jobs I needed to catch up on.I hope you are doing well WSF,all the best to everyone ….and I would like to wish Si the best of luck too.

      1. Thanks,good to hear from you,Best of luck to you too.
        Know what you mean about scaling back etc,same with any training in any sport really,you burn out if it is too much for too long,but going really hard then pulling back always leaves you better when you return,you seem to have processed stuff and taken it on board during the R/R,bit different with people at the very top of their game (in sport) but then they have a tolerance theyve built up over years and usually have problems trying to live without their routine.Bet you’ve got a clearer view on a lot of things this week than most people who are buried in it and their open positions.

  51. Hi Si,

    I’m still short on my 3xetfs. Not suggesting that should be any comfort to you though, two wrongs don’t make a right!

    Should have taken my miserable 3k profit on the trade yesterday and been thankful. However, my indicators were suggesting lower was looking very plausible, after a retracement. Well we got the retrace alright. In theory, it still is at the time of writing (6050), but the definition’s probably getting a bit stretched. I’ll need to see the opening valuation in the morning to see how bad it is, but I know it’s bad.

    It’s been a monumental battle this week over the 6000 line. That’s probably to be expected. My main worry really lies with the Americans wanting a sprint rally to end the week.

    1. I’ve just seen an impressive looking chart from a knowledgeable looking russian on twitter, showing a pivot point of 16700 for the DOW and then a big fat line all the way down to 14900.

      Let’s hang onto that.

  52. Thanks for that! It might pivot there, then again, it might not! ;0)

    I’m still hoping that my plan works, but its hairily close to being declared a failure this time. But all plans are bound to fail at times. I’m still relatively new to this swing trading lark. But I think I’ve picked up some fundamentals. Like now, I’m trying not to find news or views that confirm what I want to believe.

    On the last big drop, I cut the turn and went long too early. If I had capitulated at the low point t, I could have sold for a 40k loss. But it ended up in profit after some patience. Again, that’s not to say that will work this time. I think the risk of being wrong on this is higher. One way or other, we are going to find out soon my friend. We can buy each other a commiseration drink, on the tab of course.

    1. I went short with the FTSE 100 just after 11.00pm, at 6043.7.

      Good luck with your trades. I’m confident with this short.

  53. It’s late….
    Few glasses of wine..
    & I’m reading this …& asking myself.
    Why aren’t you trading ? (Only because – it appears you’re not)
    It’s as if you’ve opened a position and expect instanto +++
    It’s just not like that….(you have to work your book)
    Don’t take this the wrong way either…it’s a headbender sitting on losing positions – that’s why stops are useful – they allow you to breath.
    See you tomorrow.
    Nite

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