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

sure glad i'm short both ftse and dow as the rest is bleak indeed .... gold is now down about $120 and crude $3.00 .... amazingly, though ftse and 250 are both well down HG+HC is slightly ahead

Hands up all those who made money today

Been away for the weekend so missed the carnage on Friday and early this morning - so jumped in at the bottom at lunch time (so I thought ) and got badly burned this afternoon. Comes from being greedy. doh

Sitting on my very burned fingers now until they heal

€400m from 10 tonnes of gold is a drop in the ocean compared to the amount they need to raise in total. The troika will be demanding that Cypriots each sell a kidney or two next.

Big depositors in Cypriot banks to lose 8.3 billion euros - document

BERLIN | Mon Apr 15, 2013 2:08pm BST
(Reuters) - Large depositors who kept their money in the two biggest Cypriot banks stand to lose up to 8.3 billion euros (7 billion pounds) through the restructuring of the two institutions, a European Commission document showed.

It is part of an estimated total 10.6 billion contribution from investors for restructuring the Cypriot banking sector, which also includes wiping out shareholders and bondholders in Laiki, or Popular, Bank as well as imposing losses on junior bondholders in the Bank of Cyprus and a deposit-for-equity swap

Greece will return to growth in 2014, says troika

The troika of international creditors to Greece has said the country's economy will start growing again next year and it will be able to contain its debts.

The troika, which includes the European Commission, the European Central Bank (ECB) and International Monetary Fund (IMF), said the next slice of financial support would be released soon.

The release of the funds follows a review by the troika.

They said Greek debt was containable.

And, for the record, the one-eyed Scottish monster sold 400 tonnes of the stuff back in 1999. I know that only muppets notify the market of their intentions beforehand but, even so, the measly Cyprus supply should soon get mopped up.

I understood that part of the problem with Cyprus selling their gold is that it sets a precedent for Euro bailouts to insist that gold reserves would have to be sold before any more ECB money was forthcoming.
Chart support for gold said to be at around $1300/oz.

You're right, Harry, and Italy have got massive gold reserves (2,400 tonnes) just waiting to be tapped. The market is clearly pricing in the prospect of the rest of Club Med having to go cap in hand to Angie at some stage, because the price action looks to be way overdone for Cyprus' measly 10 tonnes imo.

don't understand why countries should sell their gold reserves when they can use them as collateral.

and currently i don't understand the markets at all .... the nimble fingered successsful day traders (i only know one who genuinely makes a fat living at it) is probably doing very well ...... for myself, just glad i have those 2 short positions running though they're real whores' drawers at the moment

Halifax,

Doesn't the whole concept of collateralisation revolve around the value of the security being worth more than the amount of the loan?

:o)

I'll let you all debate the gold thing, for me I've had a great day so far shorting GJ in and out beevering away, feel like I've taken a rather large rake to a hugh cash pile, Wall St down also so I'm enjoying the moment!!

Good for you Shortie - well done . I like it when people are successful.

it's probably not too late even now to short S&P .... shall think about it

hilly ever heard of margin lending?

Indeedy I have, hally. It comes before a margin call, which is what Angie's giving Stavros and his Cypriot mates right now. :o)

bloody hell .... i'm now in profit in the day; not by much but even so ..... bloodbath ahead in the morning; would have shorted ftse 250, but that market is closed so have extended my position a little on the usual ftse

===================

but just been stopped out of 1/2 my dow short, though at a jolly nice profit .... have left other half running with no stop/limit in place

Any thoughts on the mining stocks tomorrow? i think following the DJ loss today then the gold/silver miners may have another torrid day tomorrow. i am particularly interested in POLY as bought in last week at 881p. i think the stock itself is sound and is just being battered by the markets. i have set a limit order for 685p tomorrow but was wondering if that is: a) realistic and b) too high/low? [crystal ball time i know].
Anyone care to speculate?

Alex

Strangely the market doesn't seem that bothered about current events. Miners having a good day.

nice to see kaz up 11p so far and enrc and pog up also.... will it continue??

I'm out of this currently, having closed my nice DOW short far too soon a few days ago, and now not able to keep an eye on things - in the process of relocating from the Cheshire plane to the south Wales beaches!

But NB, for those who are in: 'Market volatility could pick up later in the session, with a busy U.S. earnings calendar featuring results from Goldman Sachs, Coca-Cola and others.'

Also, for those trading Gold: I've read some analysts reckoning it could fall to 1265