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

Looks overbought

It does, but the big guns are leading this today - some staggering rises.

We'll see, I think this afternoon could well see some staggering falls. Lets not forget that all this positive economic news strengthens the case that no more QE is required.

I've just gone short!@ 6599!!!

Shortie - have you got one of charts for gold please?

Daily below

Thanks.

Closed @6,584 +15.

Well done Skinny, looks like I'll be funding overnight, hope the dividend isn't a large one!!

1.4 points tonight.

Cheers Skinny - Well that will erode some of my GKP profit taken today.. looking at the below daily this level isn't the best to be short off..

I've got another limit in@6,604 - looking unlikely today atm.

One to keep an eye on as looking like its about to breakout... Is this one of Cynics??

And this I'd be looking to sell out of as looks over done..

I must admit I'm starting to look to the short side - I normally get this wrong by a few days though.

Plenty of shares seem to have got ahead of themselves today (to me).

I agree plenty of shares do seam to be very overbought at the moment.
Have a look at General Retailers below, looking good for a short also.

DAX also facing heavy resistence..

Is stockwatch working OK for you folks? I've posted a problem on the bugs thread.

Retailers have had an excellent run YTD with the likes of ASC & NXT.

It seams to be working fine for me, I'm using IE8