Hello again - and a happy Easter to you! This will be an extremely truncated offering today, because five year old granddaughter is still chez Williams with her Mummy and it seems eggs are to be rolled down our (very steep!) back field - once they have been found where said Mummy and Mme W have hidden them. "Grumpiness" from Mr W isn't allowed today, sadly, so there's obviously not much to rant about then....

Anyway, the Easter Bunny seems to be hopping around merrily in the strange world of "governments/matters economic", with Boris the Hairy Bunny in London looking to Broon the Numpty Bunny for "quite a lot of money" to install "quite a lot" of charging points in London for electric vehicles, which of course are going to save the planet.....or not. Whence will come the electricity? Did somebody mention coal - fired power stations? Ho ho ho. (It's not that funny, mind - try "coal" in the search engine for more about the UK's pathetic double standards when it comes to "matters environmental".)

The Boris Bunny might better accept he already has one mighty costly fiasco on his hands - try "Olympics" in the search engine.....

Over in the USA, the Buffett Bunny must be smarting a little - Berkshire Hathaway has just had its credit rating downgraded by Moody's - the ratings agency owned by....Berkshire Hathaway. Mr B has maybe not been the smartest bunny on the planet of late - he did an awful lot of buying in 2008 on the basis that markets had bottomed. (See WICS of October 19th 2008.)

Speaking of WICS re the above date, Nouriel Roubini (try Google if you don't know of him) has just called another American financial talking head, a "buffoon" - Jim Cramer (Google again?) seemingly has just announced that "the depression is now over." Professor Roubini - you are being kind indeed to the idiot - "dangerous buffoon" might be nearer the mark - as the coming bear market rally gathers pace, people like Cramer shamelessly encourage the Moms and Pops (another phrase for the WICS search engine!) to jump into the stock market on a "buy and hold" basis that's "best for your long term financial health". (Again, try the phrase "buy and hold" in the search engine - this weekend probably gives you the chance to do a wee bit of "revisiting" and indeed "revising" the essence of the IW "take" on what goes on....)

Finally, it seems the UK's FSA is to investigate the conduct of bank directors in the latter stages of the pre - bailout meltdown of the sector. Hmmm, that process will be conducted by the Whitewash Bunny methinks.

Anyway, on to a couple of charts before the darling granddaughter needs some undivided attention from the Grumpy Bunny, and today we'll take a look at Bodycote, where a horizontal channel might be of some interest. Then we'll examine a countertrend channel on the chart of Tullow Oil - [and just a wee "heads - up" to say there will also be a video on Wednesday of the same chart with another possible interpretation.......(please don't email me about it till after Wednesday though!)] Finally there's an update of the DAX from last weekend, anent the question of a trendline probe.

And that's all for today, so best wishes till next weekend. Time for the egg finding/rolling contest! No prizes for guessing who the winner is going to be.....

Ian.

'IMPORTANT NOTICE: These WICS charts are for EDUCATIONAL PURPOSES ONLY. They represent only MY understanding of what is happening in the market for any particular share, stock, commodity or index. In NO circumstances should they be construed as recommendations to trade. If I choose to trade what I see, that is MY decision. YOU must, in turn, come to YOUR OWN conclusions about what action, if any, YOU might choose to take'.