rather than pick out individual stocks to trade, it can often be worthwhile to trade the indices themselves, especially in times of high volatility.

for those so inclined, i attach below charts for FTSE and FTSE 250, though one might equally be tempted to trade Dow or S&P, which is significantly broader in its coverage, or even NASDAQ

for ease of reading, i have attached 1 year and 3 month charts in each instance

I also heard that Toya, food banks have also been reporting ever increasing numbers and there was also a report before Christmas about people working part-time as they can't get full time hours. I don't believe for a second the true state of the economy is what we're being told.

gov't statistics are never ever the truth, or not as you and i would recognise the word.
and why has it taken a generation for a gov't to work out that most university degrees are a total waste of time and that (real) apprenticeships should be encouraged in lieu and companies given financial incentive for so doing

Non-Farm Employment Change 155K consensus 150K previous 161K

Unemployment Rate 7.8% consensus 7.7% previous 7.8%

all a bit ho hum ...... markets just drifting back and forth

very dull day.. :(

6071.8 another short placed on the FTSE, averaging 6035.2 now with 3 open positions. Small stakes though....

i agree that it really does feel like the indian rope trick, or the 3-card trick shyster who will try to sucker in the punters before dumping them in the gutter

.

I would start building a position in the DOW but I don't want to overstretch as the FTSE rally could well continue for another couple of weeks. 6100 is where I'll open and other short position.

it is inconceivable that any rally could run for a further 10+ days without some sort of correction, even if the long term indication remains north - i think it does; you disagree

I do cynic, but for me I also have a nice ISA equity portfolio 80% in the blue so am also looking at this as an oppertunity to hedge equity profits against any correction or fall.

I'm short again (by limit) @6076 now av @6054. I also have a limit in @6,136.

Monthly FTSE100 chart below, note the June 2007 downwards trend is showing a breakout. You'd also be right in thinking that the FTSE isn't clearly into overbought territory yet... So there is still upside potential which follows the shorter term trend here. As you'll no doubt be aware, trying to call the market high prior to a signalled-reversal often results in betting burnt so keep those stakes small if your going to short and build a position. On a positive note the FTSE has spent far more time well below 6000 than it has above it, so the probability of making money is on our side.... IMHO

Shortie - I'm vastly long and in excellent profit, I'm only building a short position in order to ensure that the market continues up and :-)

I'm just catching up, having had a lovely day out in Shrewsbury today; such a civilised town for a bit of shopping and some lunch!

Well, the FTSE certainly has continued up today! I really didn't think it would zoom so high so fast... I still keep thinking it will come crashing down. I'd made a small profit on my 6040 short a couple of days ago and then re-set it... Hmmm

Cynic: re my earlier post (10416), it was a report compiled by the charity Shelter.

And Shortie: yes, I also heard that (under)employment report your referred to.

Shopping!!!! I thought that was all done with over the Xmas period?

Lol - you're quite right; no serious shopping today: just an outing to meet up with friends. But you know what women are like - we always have to come home with a little something!

Toy you shouldn't expect any charity to say anything positive.

On the other hand though Hali, it's a worrying sign that the numbers are twice what they were a year previously.

And now for something that brought a smile to my face, from MarketWatch.com :)

'It had to happen.
Disgruntled opponents of the debt ceiling have dragged out the curious notion of using a loophole that allows the Treasury to mint platinum coins of any denomination.

In effect, outgoing Treasury Secretary Timothy Geithner is being urged to have a coin made with a denomination of $1 trillion, and to then deposit it with the Federal Reserve, thus eliminating the need for the periodic nasty fights over raising the debt ceiling.

Given the way Washington’s been spending lately, one wonders whether $1 trillion is really enough.

Still, the buzz on Twitter is building, and there’s a hashtag — #mintthecoin.'