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

now watching FTSE with a view to closing short and maybe even going long as fall possibly or even probably overdone

further to go (below 11000) for Dow before looking to close

I'm still backing a collapse to 4300 (good support) and a finish to the month around 4700...... Well. That's what I've picked for the "FTSE 2008" thread anyway..... :-)

In my opinion.

Strawbs.

it won't be in a straight line even if you are correct

:-) True. It's probably a bit opptomistic anyway for a single month! It just looked like good support on the chart to me, so if the market continues trending downwards (over whatever time period) I would expect some good support at that level. I still wouldn't rule out 3500 or lower over time though. Assuming of course the credit crunch continues to play out badly. If you look at the 10 year chart, there's a lot of symetry to the moves. Looks like different topping formations, but otherwise similar. As Twain said, "History never repeats itself, but it often rhymes".

In my opinion.

Strawbs.

DOW now -370.
How do you guys know what will happen at the open?
Presumably if the decline continues it will drag the FTSE further down???

if i KNEW i would have retired long ago!

have actually taken profit in both FTSE and Dow and have gone long FTSE with sensible stop

The Fed will be wrestling with the kitchen sink again. Call me suspicious but I think Barclay's pretence of buying Lehman's was more about showing a display of strength and having something in reserve than any serious desire to buy it. Gold seems strangely tied at the waist to crude

on a separate subject if a bank goes down and the governement does not step in do depositors loose all of their money ? Although im not sure I think they do so have spread my hard earned cash between 3 of them

think you're guaranteed the first 35000 or 70000 if a couple

thanks dealerdear. I thought it was a token effort like you mention. Fingers crossed they stay solvent. I think we will dodge the bullet on this one but if AIG have their backs against the wall dod knows what poo will hit the fan

US has different rules from (NOT "to"!) UK, so not sure ..... also, as Lehman's were, I think, an investment bank, rather than a retail bank, a great many things may be different

If things do go very seriously pear shaped it could be that some sb/cfd companies implode which is a bit scary! I reckon the Fed is shorting the crap out of oil!

sb/cfd companies should not be affected as they make their profits from their clients trading and rarely get exposed themselves - i think! ..... IG's recent results saeem to bear this out

As I understand it some of them don't hedge comprehensively and a few have a handful of dominant clients that can bring down the house as their margin lunges off the chimney, though in the other hand they should benefit from volatility and volume

fingers crossed .... called indices well so far today

Dow has risen since open but looking undecided. Thry are grilling Bank of America on acquisition

Morgan stanley and goldman left who is going to sit on the last chair when the music stops

Could say the same for Bradford & Bingley and HBOS,

BB. Takeover? Like Merrill Lynch

HBOS ????? I wouldn't like to guess!

All things considered the market has not yet sold off much more than when the futures opened last night. There is still 90 mins left of course

Dow has finished at 10952 down 4.3%, and FTSE futures is down to 5114 this is looking grim for the morning. Lets see what the far east does after there bank holiday and take our positions.

Good luck.........