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 think skinny has just asked us to fuck off, so I will, out of respect to his wishes!!

Debt Cap Raise Until Nov. 22 Gains Support to Bar Default

By Roxana Tiron, Richard Rubin & Chris Strohm - Oct 10, 2013 8:12 PM GMT+0100


http://www.bloomberg.com/news/2013-10-10/debt-cap-raise-until-nov-22-gains-support-to-bar-default.html

Meeting later tonight.

The proposal today by House Speaker John Boehner wouldn’t end the 10-day-old partial shutdown of the federal government. The plan would push the lapse of U.S. borrowing authority to Nov. 22 from Oct. 17.

Stocks skyrocketed Thursday as investors were encouraged by talk of a deal that may avert a U.S. government default.

The market is on track for its biggest gain since January.

President Obama will meet with top House Republicans at the White House Thursday afternoon to seek a path beyond a confrontation that has left the government shuttered for close to two weeks.

House Republican leaders said they would advance legislation to temporarily extend the government's borrowing authority so it can continue to pay its bills on time.

The Dow Jones industrial average was up about 290 points, or 2%, in late afternoon trading. The Standard & Poor's 500 index gained 2% and the Nasdaq composite index skyrocketed 2.2%.

O/Topic.........

doodlebug4 - 10 Oct 2013 20:30 - 13212 of 13220

gf, you are one of these people who will argue black is white. Just how do you figure out that despite the CR thread has most posts it is not the most popular? I see a little green-eyed monster in there who will not admit to the evidence of statistics........ENDS

Statistics today taken from 7.05 am to 10pm

1. Cockneys Den

7.05am........155955

10.00pm..........156064

109 posts in total.

2. TOP Traders Thread

7.05am........327355

10.00pm......327939

584 posts in total.

= 435.7% overall gain over Cockneys Den thread.

YET AGAIN DOODLES you have been found wanting.

Second Rater.

Wow skinny. That's pretty strong! Not often you lose your cool! I assume you weren't long DOW sometime during the 323 point rise then? ;o)

Hey respect skinny, as Harry said most unlike you. Well Done :O)

Cynic triggered the bust up with this post, I hope Skinny is also refering to him, then again no please dont send him up to the 'Talk To Yourself Thread' weve had enough of him, he can stay here.

cynic - 10 Oct 2013 18:26 - 13206 of 13223

don't tell me sticky!
you're another of that large band on here who have never made a duff market call ..... that must be why you're still working at it - or is that just avarice?

From DP of Inv Chr today:
"Neither the US government-shutdown nor the debt-ceiling standoff are yet resolved, but the indices are sure as hell acting as if they were. I have forecast all along that these issues would be cleared up before disaster hit and that equities would head to new highs in response. Clearly, a lot more folks think the same and are thus willing to jump the gun. I can’t really see a good reason not to take part here. The buying was so powerful yesterday, just the sort of thing I look for to signal the start of a new up-leg. I would be looking to buy the first bounceback from a small intraday retreat, therefore. I feel that the indices rather than currencies are the place to be for now. Meanwhile, gold is selling off in line with my call. If that’s not the start of a new rally, it’s about the best impersonation of one that I’ve ever seen. The S&P gained 1.91% from peak to trough in yesterday’s session, which is just the sort of move I like to see to kick off a fresh wave of upside. I am looking for upside to and through the 1729.8 level."

Harry post 13222 - no :-)

6460 short... Hourly below.

6471.8 short again, this gives me 3 positions now.

Shall I join in?


























Perhaps, NOT!

Have a good day.

I've gone short @6,487 - I was looking for mid 90s, but its seems to be running out of steam (famous last words!).

WRONG THREAD.

I'm now averaging 6430.3 accross two bets, taken some small profits, may do another one if sentiment begins to change.

Looks like I jumped out of DGE too quickly!

One for the watch list, either head and shoulders or about to break.

Wouldn't surprise me if we get a deal on the debt ceiling to see a sell-off on the news.

By Alen Mattich It's common wisdom that the U.K.'s coalition government has stifled growth through austerity. So much so it'd be easy to miss the fact that the U.K. has consistently run some of the biggest public sector deficits in the world since the financial crisis and continues to do so. In only one year since the end of 2007 has the U.K.'s deficit to GDP ratio been out of the top four among the International Monetary Fund's list of 35 developed countries. That exception was 2011, when the U.K. came in number six. This year, next year and in 2015, the U.K.'s deficit is forecast to be bigger as a proportion of gross domestic product than all but two of those 35 countries. Yes, but the deficits should have been even bigger to replace a shortfall in domestic demand triggered by the financial crisis, argue Keynesian economists. By reducing the public deficit even a small amount, the coalition government prolonged the downturn and ensured an even slower climb out of the trough, they conclude. On the flip side, those favoring austerity largely argued that had the government failed to signal clear resolve to take the deficit under control, Britain would have been hit by a crisis of confidence, capital flight and a consequent surge in market interest rates. In other words, the economic pain would have been worse. Cutting the deficit, they argue, was a matter of insuring against an even worse outcome. As it happens, the Keynesians were probably more right than the austerity advocates (with the caveat that real life macroeconomics seldom has useful counterfactuals). In retrospect, the insurance value of austerity was probably overstated for the first few years of crisis. But as the U.K.'s ranking in the deficit-to-GDP ratio league table shows, there was less austerity than is popularly believed. Much of the supposed deficit cutting was in fact little more than a promise to do so in future. Which is why the U.K. has continued to run large deficits. The U.K. government may well have been able to get away without cutting the deficit in the three or four years after the crisis as investors favored the U.K.'s relative safe haven status amid the euro-zone meltdown. But as the euro zone recovers, that charitable attitude is likely to change. If the U.K. continues to postpone serious deficit reduction, the country could yet be hit by the sort of crisis austerity-supporters warned about. This depends in part on how much of an output gap there still is in the U.K. economy and whether it could return to pre-crisis trend growth. Keynesians largely answer "a big one of around four percentage points of GDP, maybe even more" to the first question and "yes" to the second. But are reasons to believe the output gap is smaller and trend growth is lower than those advocating continued massive stimulus believe. In the years before the crisis, the U.K. benefited from a huge credit expansion and pro-cyclical growth in government spending. The Bank of England made little of a drop in unemployment to lows not seen in more than 30 years--in spite of mass concurrent migration from eastern Europe--even though there was no reason to believe the stable rate of unemployment had fallen. The BOE took stable inflation as a signal that the boom was sustainable. Never mind that price pressures were held in check by cheap Chinese imports--the U.K. experienced a long run of goods price deflation during the middle of the noughties. A post-crisis collapse in U.K. labor productivity and persistently above target inflation suggest the U.K.'s demand deficit is smaller than Keynesians suppose and that potential growth is much lower. If trend growth is 1% to 1.5% rather than the 2% to 2.5% officials suppose it to be, then actual 2% growth (the IMF expects the U.K. to achieve 1.4% growth this year and 1.9% next) will absorb that spare capacity very quickly. If productivity doesn't recover during that time, inflation will quickly start to pick up again. The Bank of England's reaction function shows it is willing to accept overshoots of its 2% consumer price target for long periods if it can convince itself there's a risk trying to slow inflation would prematurely slow the economy. In light of this monetary policy backdrop, backsliding by the government on deficit tightening--particularly in the run up to the 2015 election--could create just the sort of environment those advocating austerity back in 2010 warned against. Investors could quickly lose confidence in sterling and bonds would sell off. Then the Bank of England would be in a position of having to either drive the economy into a deep recession to regain investor confidence or allow inflation to gallop along, hoping something turns up to save the day. This is an opinion column by Alen Mattich, who has been a columnist for Dow Jones for more than a decade.