With you all the way there spec i can see the the current holding position for the first month and then a mighty sell off , which they `ll then precede to buy back over the course of the year otherwise let`s face it how else are they to achieve their christmas bounuses with that wall of money which is due to hit the market in 2006 .Many will be looking to lock in profits and there will be some tax selling and position squaring for the end of qtr .
The MA activity should slacken off as EU rates rise and UK plc becomes less attractive to predators , i expect a few hiccups and oil to be the catalyst for the first fall .The only thing i`d buy in this market is niche players and oil .Other sectors look top heavy but i guess there`ll be a fair bit of rotation into what they perceive as the sector plays for the year