Morning, I made a brief visit to the Aprimo office near the Trafalgar Square. After some catch-up, I was off to St. Pancras International Railway station. It is international because the super fast EuroRail trains leave here to France. But I was headed up north to Nottingham. If you recall from elementary/High School reading, Nottingham is where the Sherwood forests are – hide-out of Robin Hood. The train was fast and made only a few stops. It took me there in an hour and 45 minutes. The ride from the station to the Hotel was seemingly long. Hotel Dakota is a very modernistic setup with dimmer lighting and a even dimly lighted restaurant. Luckily I had some vegetarian choices for a late lunch. I then took a ½ hour walk trying to find the E-On office which was my first client stop of this tour. I couldn’t locate it despite the map I had that I was straining to view on my Blackberry. Back at the room, I had to order internet access as the wireless card couldn’t connect to the Orange network. It took me a couple of hours to work through my emails.
The markets were up sharply, but volume was still lacking. A quick look at the charts show the difference in up-volume over the past two days. But still the up-turn cannot be ignored. The news of a cease fire in Libya and some good news from Japan seemed to help investors. As of now (6 PM EST, 10 PM GMT), I still needed to wait another couple of hours to catch what IBD had to say about the upticks in the markets. While I am short the S&P, I bought some more Apple on the dip. That offset quite a bit of the shorts I had.
Nottingham is a cozy sprawl of green deep north of England. The Eon offices were located in a business sort of district. For one thing, the UK is not very friendly to visitors – the road markings need lot of work. With the 2012 Olympics on the cards, I hope they at least prep up London street markings. For someone visiting with not much time, I found it hard to get around even with electronic maps. The rather early morning walk to Eon office was more of a trek! I was winded by the time I got to where I wanted to after checking out a wrong building first. Work went well enough that I got out around three. Since the train ride back to London would get me very late in the afternoon to wait for lunch, I ate vegetarian pasta back at the hotel where I had to collect my carry-on. The Nottingham station is about a ½ hour taxi ride. The cabs aren’t equipped with credit-card readers, thus I had to withdraw cash in Sterling Pounds though I had a stash of the Greenback. The ride back was smooth and easy with the state of the markets on the back of my mind, more so recently than in the past.
After the Japan earthquake and the ensuing fear of a dip in the world economy, compounded by Libya, the markets had now reversed. It seemed like the stream of bad news had stopped and any bit of positive news from Japan like electricity connection being successful to the reactors, were welcomed by the markets. If there is a major negative trend, then that should come after a brief reversal. The criterion is that of lower-highs and lower-lows. It was too early to say that and I was sitting tight.