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

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!

HILARY you are crude.......... lol

Here's what I was trying to say last evening with the help of a piccie. I don't pretend to be any kind of Elliott Wave technician (mainly because the relationship between the different timeframes is a bit too complex for me and I start drifting off when it gets boring), but, the snippet I do know about Elliott Waves is that patterns tend to consist of either 3 (corrective trend) or 5 (dominant trend) waves.

Assuming that the FTSE has started and nearly completed a new dominant trend off its February highs on the hourlies, I don't think it's unreasonable to expect a corrective trend to start soon. Over the 3 corrective waves, I would also expect the price to move up towards that upper red bolly band (which is actually an mtf indi on the H4)

Anyway, make of this what you like.

That's a great one liner Hilary, must remember it..

6537.8 gone long

GBP Trade Balance -9.8B -8.7B -7.7B

Nice pic Hils.

I'm also long.

6545.8 position closed +8

6544.3 gone short

6539.8 position closed +4.5