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

George Soros has accused western leaders of dangerously miscalculating their strategy towards Russia and Ukraine, arguing that the crisis there posed a lethal risk to the Eurozone. In an interview he complained that European leaders were treating Ukraine as “just another country” in need of financial assistance rather than realising that the crisis on the EU’s eastern border posed a greater danger to Europe’s economy, and even the survival of the EU, than the Greek election. Mr Soros said sanctions on Moscow were having a far deeper effect than western leaders had ever imagined because of the collapse in oil prices and added that a Russian debt default would “not be surprising” – FT.

is soros just an interfering old fart, albeit an exceedingly or even excessively rich one?

Does he have a crown worth chasing?

But he does have a point.

Maybe what Putin is banking out on!

I think Soros is absolutely right to highlight the risk these sanctions are having on Russia and the increased risk of a Russian debt default.

Its not only sanctions but also oil prices that are hurting Russia and with no drop in Supply from Saudi or OPEC the risk of default only grows greater.

* OPEC sticks to decision of no output cut - sources
* Traders book tankers to store surplus oil
* China annual consumer inflation near five-year low

(Updates prices, changes dateline from previous SINGAPORE)
By Ron Bousso LONDON, Jan 9 (Reuters) - Oil prices headed for a seventh straight weekly loss on Friday, with key producers showing no sign of cutting output in the face of a global supply glut. Global oil benchmarks hit their lowest since 2009 this week and are down more than 50 percent from June levels, with Brent crude futures LCOc1 extending declines on Friday, dropping 50 cents a barrel to $50.46 by 0927 GMT.

U.S. crude futures for February delivery CLc1 were down 12 cents at $48.67 a barrel despite robust U.S. economic data that brightened the outlook for demand. Brent's premium to U.S. crude CL-LCO1=R fell near $1.80 a barrel, the narrowest since October as international seaborne oil markets appear to be under even more pressure than the U.S. domestic market. "It is another negative week and a reflection of the focus on negative arguments," said Hans Van Cleef, senior energy economist at Dutch bank ABN Amro.

Supply concerns remained as Saudi Arabia and its Gulf OPEC allies are showing no sign of considering cutting output to boost oil prices even as demand slows globally. Meanwhile, annual consumer inflation in China remained near the lowest in five years, signalling persistent weakness in the world's largest energy consumer. "Without any changes to fundamentals, selling appears largely to be jittery investors looking for supply-demand equilibrium," ANZ analysts said in a note.

For the first time since 2009, a contract to buy crude oil or any sort of refined product costs less if it is for immediate delivery than for future shipment, giving traders more reason to buy now instead of later. If recent market history is any guide, Brent prices could mark time around $50 a barrel for another few days before resuming their decline. Supply is piling up with some of the world's largest oil traders hiring supertankers this week to store crude at sea.

BNP Paribas has cut 2015 price forecasts for Brent and West Texas Intermediate crude by more than $10 per barrel to $60 a barrel and $55 a barrel respectively. "Supply issues will dominate demand in terms of fundamental factors, with the market focusing on how the current supply surplus will ultimately resolve itself," BNP said.

If you haven't already read the Soros article, a well worth read
http://www.forbes.com/sites/kenrapoza/2015/01/08/george-soros-warns-of-russia-default/

dow short
a bit greedy .... should have banked some profit before the unemployment numbers, but no great harm done unless the amis get overexcited once again

========

def no harm done
shall now wait to see if 17800 is pierced going south

was the woolley up to scratch as usual cyners? plenty of sun where we were :)

hello matey ..... haven't heard from you in a while
trust you had a great break

Woolley was on excellent form as always, and much jollity was had by one and all

dow short closed at 17758.4
yummy scrummy = +115 approx :-))

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next support is about 17700, but need a little breather
but if there's a bounce, which is quite likely given the recent volatility, i'll look to short again

The pickings have been nice today, mind you, been abit busy to post here with all the goings on, on the mumbo-jumbo thread..

i've been busy too, but actually working for my crust :-)

A couple more weeks and I'll soon be back to trading with a decent stack, have to say though, its quite nice building it up even if the risk is a little greater.

i've been lucky of late, perhaps because i persuaded myself not be too greedy and benefited accordingly

as we are heading in that direction again, i'm looking for 17800 or just of shy of that for a new short

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other way :-)
long 17703

out at 17727.6 ..... haven't got the time to stay glued, but def better than a kick in the balls

oil has clunked again
dow is tapping at 17790 which was a support but now possible resistance
ftse at 6530, which i think is no-man's land, but await shortie's view on that

bugger ..... dithered and didn't .... dow now down to 17750

No position on the FTSE currently, could go either way, right now a few points up back to 6540 I expect but not worth playing. I'll continue to twiddle my thumbs and may drop in this afternoon.

Rome burnt while Nero fiddled!

and bugger shit damn and blast :-)
have been out all day, but clearly missed lots of fun and games ...... still, at least i didn't caught on the wrong side, so nothing lost either

Lol, relax, there's always another trade! I've been busy today also and only made a few points...

Welcome back Alf, hows the scrap metal trade in town these days?