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

Hmmm. Looks like it's going to open at around 5400. Bang on the lower trend line for the August mini uptrend. Should be a good test of market sentiment. Will they buy the rally or sell the rally?

In my opinion.

Strawbs.

Opened at 5428 up 188 which is 3.6%, I will let the index to settle first before trading.

That's gonna hurt anyone short..... Oucchhh!

Strawbs.

Yes there will be some pain for people holding shorts, The banks have seen most gains with barc up 13%, rbs up 11% and lloy up 10%.

The problem for me today, is that with such a fast rise the FTSE is above my highest pivot line, so unless we see a large about turn, I can't trade at present.

unintentionally left myelf longer of Dow at close on friday than intended .... oh dear!!

You couldn't make it up, talk about manic depressive market there surely can be no finer example of this than the last few days. Friday was certainly a day for accumulation and as you say must have taken quite a few bears over the cliff, more carnage in the hedge!

Having burned all the shorts....what's the betting it'll reverse and burn everyone that's gone long now.... Seems unlikely though.... :-)

Anyone know what the dollar is doing?

Strawbs.

No confidence is any numbers floating around today IG are out by over 100 ticks on the daily price. I smell something fishy

So much trading must've blown a fuse at the LSE.... :-)

Strawbs.

Could be interesting when it all comes back on. Wonder whether there will be a surge in prices and therefore a chance to lock in profits (if there are any of course - lol!)

Could be a lot of angry people out there if they're stuck in a massive losing position. Glad I'm just a spectator......

Strawbs.

quite right Strawbs ..... LSE is swampd and ALMOST impossible to deal, though just bought a few more SHP (good support at current level - see chart) and even SOLA, though i am not sure that was necessarily a smart move

if you work with IG, they have just started doing a weekly "thingy" on currencies, but have not yet had a chance to open my e- on the subject

i agree dealerdear. If the prices aren't there IG should suspend trading on the indices. Its like betting on those computer horses in the bookies. I would be really pissed if I had a day position fortunately short until mid October

Understandable I suppose, but pretty embarrassing for the LSE.

In my opinion.

Strawbs.

i think IG's indices numbers are probably correct as they are updatging continuously - the boys there will tell you ...... however, the prices on individual stocks are almost meaningless i think

LSE is still shut for normal trading ..... is spoke to IG who confirmed that is down to pure volume, much generated by AT traffic ...... in due course (later in the day i suppose), all will unscramble, though presumably there will be a second (unprecedented?) auction period ...... that really will be fun to watch, especially if there are a lot of bear trades trying to close - e.g. in SOLA and the financials

according to IG the FTSE is already up 5.4%. Im sure there might be some bears closing their position to cover in panic but plenty more will come out of the woods at these levels and push it back down

IG's FTSE cash merely reflects September Futures andf is therefore not strictly accurate ..... my guess is that when the market really opens, FTSE will open an awful lot higher as it will then reflect true stock prices, rather than guesstimated ones ...... i would also be susprised if volatility does not prove to be a classic understatement for the first 30 minutes or so!

managed to rescue my seriously bad buy on the nikkei [re: My 1.25million 'paper' loss] and change it to a 3100 profit[paper one naturally] A lucky escape me thinks.

with that in mind[ i was trading in CFDs]

had this been 'real money' : would i have been liable on Friday morning for the whole 1.25 million[which i obviously did not have] or could i have done like i did, in demo mode, and sold out today after the bounce?

Alex

or jumped off the nearest NCP carpark roof!

some seriously strange prices showing on IG at the moment, but i think they are meaningless as few are genuinely trading - just XTA, RIO and BARC on my watchlist