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

if FTSE drops back to 6200 (psychological round number) or 6175 (200 dma), suggest going long again with a view to an upper mark just over 6300

I had placed a long earlier at 6247, but just closed out for 3 point loss.

We have inflation figures and housing and mortgage data due at 09:30, this could give some guide to ftse.

took my own advice and gone long at 6157

went short again at 6200, moved my stop loss down to 6160 to protect my gain - but chickened out at 6155

.

Have followed you in on a long cynic at 6159 - but with a tight stoploss. Dont want to risk losing my gains

Have to go out for a while - but able to set my sl at 6160 - so should not make any loss on this now

Looks like I have been stopped out on this - still a 5 is a 5

shame .... it was a good call .... FTSE now 6180

Looks like the US markets like what Bernanke has to say - the Dow is rising even as he speaks. Oh to have such power to move the world!

doesn't the earth move for you too??

Hi Cynic: it does sometimes - when I'm lucky! How about you?

big hole usually opens up for me

oh dear - and do you get swallowed up?

sometimes, or just fall in feet first and have to hang on by my fingertips!

Looks like your hunch was right cynic. Well done you

I set my stop loss too tight and got stopped out twice with just a 5 profit each time.

Oh well - Back to the garden

i thought US was remarkably robust yesterday given the raft of horrid news ..... though Dow fell, it was only by a very modest 60 points or so, whereas just a couple of weeks ago 300+ would have been the order of the day.

to me, it is looking more and more like a head of steam building for a break north to at least 13000

may have made a totally crap call on SOLA, but at least above post proving correct

Hope you traded DOW long cynic. I didn't because I only trade FTSE at the moment, once I have some more experience, I would look at dow next.

I know the feeling, having made a rubbish call on KGF short last week.

I think I will take gf advice, re - not trading duel listed stocks, I will look elsewhere. I like the look at gmg for a short which seem very overbrought, but will wait for confirmation of entry on the charts. A dead cross would be a good sign.

i have indeed .... helps greatly to soften the pain of the greed ... still running, but not sure what to do when (if) it hits 13000