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

Long closed at loss and reversed 6588.5

Position closed +5

Looking above, not much regard for the 200ma - perhaps a 5th consecutive down day?

Looks that way, unless there's a rally before the bell..

Rather foolishly I'm still long!

Don't like to say I told you so, but ...

:o)

Hmmmm.

Go and suck on Cynics bum hilary.

A perfect illustration of your earlier posts!

Getting worried about you Yorkshire Txat you seem to have a bum fetish?

Hard luck Skinny... Rally before the bell I wonder..

Cheers Shortie, I reversed -50 and have closed the short +20.

I'm down on today also... Oh well we live to battle another day..

Yep - and the sun is out!

6540 gone long

position closed -15, thats what happens when you piss against the wind...

go to pub tonight..... then you can p*ss against the wall.,.

Was only a small bet, trying my luck, sometimes you win, sometimes you lose..!

If it's any consolation I would've thought that, when the FTSE does eventually find some decent support and turn up, you'll probably get a decent leg out of it on the long side.

I'm no Elliott Wave theorist, but I get my underlying trade direction from the 1-hour charts and I can't help but notice that we seem to currently be in the 5th wave of a sequence which started back on 25th Feb about 300 points ago. The wave pattern is very clear if you match it up against individual Schaff cycles on the hourly chart. The current wave itself has lasted since 6th March and has so far been good for 250 pips in itself.

At the back end of January there was an individual wave/cycle lasting 7 days, but waves lasting that long are few and tend to be far between, so it's unlikely the current wave will last too much longer imo. Even so, I'd personally continue to trade it short until it has actually turned up. People who spend their time picking bottoms shouldn't be surprised if they get shit on their fingers!