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

and here is a little article to cheer us all - I don't think

Wall Streets ship of fools
Financial stocks took a beating Thursday after the latest round of downgrades and estimate cuts. Analyst Meredith Whitney at Oppenheimer said she expects Citi (C), Merrill Lynch (MER) and UBS (UBS) to post aggregate first-quarter losses of $30 billion next month. As many expected the fourth quarter to be the kitchen sink for the industry, she writes, we believe first quarter results, to be reported in two weeks time, will be a rude awakening.

But the rude awakening has already arrived for some observers. At Portfolio.com, Megan Barnett calls Wall Street research worthless, noting an overlooked disclosure line in a recent Whitney report: We have very little earnings visibility and very little confidence in our estimates. Meanwhile, Michael Lewis suggests Wall Street analysts arent the only ones lacking an understanding of the securities business. There is, of course, a reason that the market doesnt understand Wall Street firms, he writes at Bloomberg. The people who run Wall Street firms, and who convey news of their inner workings to the outside world, dont understand them either. Comforting.

DOW currently perched on support at 12350 (from my chart), will short if it falls through, although a tad wary we might see another bounce aka earlier!

Anyone else short on the Ftse ?

No, but keep an eye on Wall St, if there's a bounce from here the FTSE may well follow.

Thats the problem with these indices - you daren't even go and get a cup of tea !!!!

DJ just bounced off today's low

Ftse playing strange games - although Dow dropping, Ftse has been hanging back - and even rising as dow drops. How very strange

I'm out

I was, was taken out, went back in and just about covered my losses Do think it's going to end up below 5700 but had enough excitment for one day
PS I'm only learning so well & truly OMP

Sorry OMO told you too much excitment

that's a washing powder isn't it?

pt - did you buy the dow on the bounce?

I'm afraid not

PTH Correct it was but also, only my opinion just remembered should be OIMO. First time shorting Ftse with real money nearly the last!!!!!!!!!!!!

The ftse is just going completely loopy at the moment - so glad I closed my positions earlier.

Well I made money on the FTSE - then gave it all up on the Dow - when will I learn to stop

sorry to be the harbinger of gloom, but Dow now looking very sick which does not augur well for the morning

Does for me... Got a Wall St April future short and Wall St Rolling Bet also going short, the sicker the better. Intrestingly -8.75% FTSE 100 1yr, Nikkei -27.41% 1yr, FTSE 250 -13.84% 1yr & DOW -0.72% 1yr.... So over a 1yr benchmark the DOW is holding up very well compared to other indicies, too well I think...

Dow .... from Signalwatch today ...... If 12,400 cannot be crossed with confidence, look for the index to test 12,100 soon.

several hours still to go, but little sign of any upward movement at all ..... not much sign of any movement in either direction for that matter

Indeed Richard................yawn :-O