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

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

sell - least ways I hope you did

took profit though less than it might have been

disappointing though the late sharp sell-off certainly was, do remember Dow still finished +60 or so and above 12850 ..... nevertheless 12950/13000/13050 (depends where you draw your line) is proving a very stubborn resistance

I went shoty on the Dow last night just before the close at 12995 - andleft it open overnight. Just taken profits.

Although I feel this has further to fall - it was stubbornly moving upward and eroding my profit. Will look again later.

Morning

I'm finding it hard this morning to see the direction of FTSE, what to do ? looking at dow,dax and cac I would be looking for a higher open. Will we see 6300 today ? "maybe" but if the ftse gets close then reverses I will try and place a short.

Well thats the plan at the moment.

Good Luck............

i feel much hinges on Dow where 13000/13050 has proved a very stubborn resistance ..... if dabbling, a very close eye or pretty tight stop losses are the order of the day

I came across this from another site, showing the last 10 days volume on the DOW out of the first 94 trading days of this year, with 1 = highest volume and 94 = lowest.

15/05/2008 63
14/05/2008 53
13/05/2008 51
12/05/2008 92
9/05/2008 86
8/05/2008 64
7/05/2008 47
6/05/2008 56
5/05/2008 91
2/05/2008 54


Conclusion could be rally has no legs as it struggles up suckers hill ?

Well I decided to go long on the FTSE at 6260 and have just moved my SL up to 6270

Out at 6345 - maybe too soon - but decided to bank my profit - better safe thanb sorry

Well played bhunt1910.

Long again at 6330? Not sure about this one - maybe I am being greedy now?

out again at 6342

sitting on my hands for the moment - probably the best thing for me to do as i get so involved - not good

Goldman Sachs have just lifted their oil price estimation for the second half from $107 to $141 per barrel.....that's a big increase in my book !

Good trading bhunt, fortunately I never got my short away. Strangly my trading system was indicating a long first thing, but I ignored it.

I feel a new rule needs to be written. "Have faith in trading system, place position with stops then walk away" Well three rules then.