Will we, won't we?

Just look at the charts. The Dow is struggling. Why? Greek debt, unemployment levels, inflation, quantitative easing? Perhaps? Or none of these things. The answer is that it has hit resistance. And that resistance goes back to the 2nd May 2011, nine months ago. There was a lower level of resistance that was established in July 2011. In theory it was a stronger level because the market had two goes at breaking it before it gave up and collapsed. But when the market recovered to that level (12750 on 23rd January) it took ten days to break through. We are now on day seven of the effort by the market to break through the higher level of resistance (12875) - established in May. There have been no days of exceptionally high volume. So I am holding faith. That does not mean I am right but I think the odds are on continued upward movement. I've put my money where my mouth is and have my fingers crossed. That's what this business is like. The next day or two will tell me whether I was right. My current portfolio distribution is gold and silver 9%, commodities 5%, equities 74%, cash 12%.

Last night we went to see a miserable play. It was called Neighbourhood Watch and is Alan Ayckbourn's not quite latest offering. I also saw Life of Riley, his previous play. All I can say is that he has lost his touch. Both plays were a waste of time and effort. This last had everything wrong with it and since Ayckbourn directed it, no one else can possibly be to blame. The plot did not hang together, the characters did not make sense, the period of the action was ambiguous, the set was dismal and the costumes were drab or, in one case unbearably Essex. The final moment of the play was laughable. The only positive thing I have to say is that the actors played their parts, dreary as they were, well. If it was an attempt to cock a snook at Cameron's Big Society it needed to be a lot better constructed to make its point convincingly.

We went with a friend who has been a very successful am dram producer and director and she thought its simplicity and range of characters would be very appealing to amateur companies. But please, Mr Ayckbourn spare people who pay full price for their theatre tickets from this dross.