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

hehehe, read them before, but always good for a chuckle... )

You need to listen to the confusion that sometimes accompanies Samantha

Excellent and timeless :-)

Today's comment from Dominic Picarda of IC:
"EuroI do understand why so many spread bettors went into yesterday short of the FTSE. The UK index and various other markets were all already pretty stretched as of early Thursday, and therefore ostensibly ripe for shorting. As I said in yesterday’s Outlook, however, overboughtness should be treated as an amber light, rather than a red one. It should alert us to the fact that a trend may have gone too far, too fast, rather than actually prompting us to head for the exits. The markets subsequently surged even higher, burning those that had made their sell-bets.

What now? The FTSE is now what I’d describe as really overbought on its daily chart. You have to go back to the blithe, pre-credit crunch days of February 2005 to find another occasion where it was this stretched. I am therefore increasingly cautious, but still willing to take small longs after intraday pullbacks. And I will remain so until there are definitive signs of reversal, not just overboughtness."

GBP Prelim GDP q/q -0.3% consensus -0.1% previous 0.9%

GBP Index of Services 3m/3m 0.6% consensus 0.5% previous 1.1%

I think the FTSE will ignore what's going on 'at home' and go with the macro news - as we saw yesterday - I made some money on a long but never thought it would go as far as it did! Today I'll set a short at 6300, but then will look out for a point to go Long again next week.

Meanwhile, enjoying a leisurely train ride to London - amazing how much snow is still around!

Back in WOS at 2977.looks good for 3030 ish . I'm perusing and pondering UKX

Back in WOS at 2977.looks good for 3030 ish . I'm perusing and pondering UKX

Ahem.....Toya! More shopping?

Toya - "I made some money on a long" - ironically I took 30 points from my short yesterday (sorry Hils :-) ) and am long from 51 this morning.


New home sales out of the US of A @3.

Iain - you might like to take a look at posts 10568 and 10569 ..... both indices (on which you can bet) give excellent coverage of both the construction and housing stocks, though they are pretty heavy and volatile (hairy scary at times)

Harrycat: no, a cultural meet-up with friends to see exhibitions at the Royal Academy - such a treat!

Skinny: you did well to set up your long! I didn't dare do much as I can't keep an eye on the markets today

Ah, the new Manet exhibition. Looks good. Dangerously close to Oxford St /Regent St however!!! ;o)

True enough :-)

smart-arse Number2 managed to go to the lectured private viewing a few days ago

Manet - the brown and black bloke?

:)

following on from post 10658 re volatility ...... having taken a (long) position in one of those indices and being well in the money, i set a comparatively tight stop (40 points i think) ...... this was triggered, so a good profit banked, but of course as often happens, the index then whizzed north again ..... no gripes; really just a comment

CAD Core CPI m/m -0.6% consensus -0.2% previous 0.0%

CAD CPI m/m -0.6% consensus -0.2% previous -0.2%

Cheers Cynic. I sleep and breath WOS at mo. if I get ticker right :-) been in and out last 3 months.

confess i gave up on that one as could never ever get my timing right