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

Bit of a battle to break 6030 going on, gold getting stuffed together with the pound 6050 anyone? Down to the Dow my guess.

below are assorted headlines from FT ...... so who isn't reading the script?

Pound pummelled on Brexit fears
Sterling weakens after London mayor Boris Johnson backs Britain leaving EU

Brexit looms as shock for UK financial markets
Growth could be up to 7% lower, sterling and equities would fall

Stocks start week on positive note

Pound slides on ‘Brexit’ fears but miners help Footsie bounce

Big business backs Cameron’s EU push, HSBC cuts pay and Britain’s Atlantis
Bosses of about half of UK’s 100 biggest companies to declare support

It will go where it wants, It will go where it wantsssss

Dow Jones will go where it wants.

I'm out in a bit and no position as no feeling one way or the other.

That's me Limited out long at target 6050. Now let's see how the Casino performs this aft. :0)

i won't risk long, and fortunately i didn't short this morning either!
onwards and upwards looks absolutely nuts to me

Yes , the other day it was all doom and gloom ,now we are on a roll ,what's happened ?

answer nothing .

if anything, i'ld say the position has got worse insofar as the chances of an "out" vote must surely now be stronger

FTSE 250
worth keeping an eye on this as of course it covers a far wider spectrum that FTSE 100
currently it's just about at its day's low, whereas FTSE 100 is at its high

Really strange how markets have gone up ,i'll say it again maybe more people want out than you think ,i fully expected a down day .

Don't forget that there is a wall of money in fund managers coffers that has to go somewhere, so any slight movement may be exaggerated because of this.

And would they be throwing it in to the markets running up to a huge decision like the one we face ? i may be wrong on that who knows .

Why FTSE 100 rally is 'very possible'
By Alistair Strang | Mon, 22nd February 2016 - 10:14
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Chartist Alistair Strang tells us why a FTSE 100 rally is 'very possible' The week ahead should be entertaining, as the prospect of the UK leaving Europe is bound to energise the markets. If we are to leave Europe, perhaps we could go somewhere with a better climate, though!
It was interesting, on Friday, that we'd given a drop potential to 5,900 against the FTSE 100 (UKX), but the lowest the market attained proved to be 5,916. Similarly, a high of 6,001 was not sufficiently close to 6,010 to permit an upward break. The day ended with us drawing the conclusion the markets were not showing any real direction.

We shall take the attitude this week is starting with a clean slate - so what does the "big picture" expect?

Currently, it appears we are to believe the FTSE now wants to head to 6,300. The UK market must fall below 5,800 to scrub the arithmetic behind such a prospect. Obviously, while anything now below 5,916 remains hoping for some sort of bounce at the 5,900 level and any failure to bounce should now anticipate 5865, it takes the UK dangerously close to our party-spoiling 5,800 level.

Alternately, above just 6,001 betters Friday's high and hints at growth to 6,032, with secondary now 6,071. This sort of thing emplaces the UK firmly in an area where 6,300 is very possible.

graph 1

What if 5,800 breaks? This would be a bad thing, as it threatens 5,725 initially with secondary 5,620. Perhaps, more importantly, it takes the market right back into the zone with a bottom logically at 4,950, which stinks. We're slightly comforted by the lack of our drop target being achieved on Friday as hopefully it implies hidden strength. And, as the chart above highlights, the FTSE has managed to regain above red, the uptrend since 2009.

Expect the unexpected

Unfortunately, recent experience with the Scottish Referendum thing taught us to expect the unexpected. The market will doubtless use political pronouncements from both sides of the debate to drive hysterical movements while they try and convince the entire country that BMW (BMW), Mercedes (DAI), and VW (VOW) will stop supplying cars to the UK unless it remains in the EU.

Additionally, Brent crude will founder, as no-one will wish to purchase the UK's oil output. Due to living through the ridiculous "project fear" of the Scottish thing, we fear it will prove a dress rehearsal for the coming EU referendum and doubtless cause chaos on the markets, along with foreign exchange and sterling.

In summary: above 6,010 equals "good". Otherwise, below 5,800 equals "bad". And anything any politician says equals "bad". And if the week starts with a Monday, it will probably be bad too!

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

They can't sit on funds indefinitely with the end of year coming up, this downturn started before Xmas and time must be running out for them.

The pound is being devalued.

Exports cheaper.

Or the pound is being sold, or being dumped in expectation of exit.

£ is being sold, though i find it interesting that it has lost quite a lot of ground vs € as well

.

Looking like an early down start for the FT with BLT posting a big loss and divi cut. Oil down as well.

ran a small DOW short yesterday evening but lacked the balls (had the sense!) to run it o'night
banked a very small profit, but of course it would have been rather juicy by this morning