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

Average work week of 33.8 hrs - I'll have some of that !!

though these horrid figures may well bring about a further slash in US rates, i am still surprised to see the indications being blue ...... i wonder if that will translate into reality once the market opens .... if so, then look for decisive break above about 12725 if there is to be further upward momentum, though the big hurdle is at only 12800

Cynic - I would have thought that bad figures would have driven the index down - or am I missing something.

I was contemplating a modest short.

i agree and so it has proved, though i did not do so myself ...... would not be at all surprised to see Dow falling >100 today, but not sure if i'll back that view with money

There is no logic with the Dow, Bhunt. It is a manic 2 headed beast of the deep!

Not much logic with the Ftse either

DOW seems to have thrown off bad news yet again, resilient fu**er isn't it? (scuse the French). Seems to have parked itself in a bullish channel during the last few hours, having a rest now after the last little rise. I sort of expect it to meander until 6 o'clock and if it stays in the channel, another surge upwards to 12690-12700. We'll see ;)

12725 or thereabouts is the big test, followed by an even bigger one at 12800

Can't see 12725 being much of a barrier, surged through there earlier today, however, I agree 12800 or slightly lower will test the rally.

I've been enjoying a couple of lovely surges. Would now be very pleased if we could reach 12700 tonight

no point in having an orgasm before Dow goes truly hard through that level .... has recently suffered PE a couple of times in the attempt!

But I was enjoying it!

Having reached my 12690 level (although not exactly a surge) I'll stick my neck out and say that's that for the day, although keeping an eye on the bottom of this channel to see if we get a sell off.

just keep yourself in suspense ... you'll enjoy it all the more when it is justified

Err, I hesitate to interupt, but Toya, you have email

hi peter ... let me know about the lunch .... meanwhile, Toya obviously has more important things to hand

lol Richard, email on the way in a few mins, apologies for the delay.

Thank you very much Peter - never thought of looking at the RSI! Cynic: I was interrupted by a phone call so didn't manage to take a profit - hope it moves back up a little way.

Phonus interupptus ;)

Changes so quickly this DOW lark, looked like I predicted correctly, but now I'm not so sure ?? (I used to be indecisive, but not any more!)