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

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.........

I doubt anyone knows the impact of Lehman yet. It's only the first day. As things start to unwind (dominos start to fall), things will become clearer. Even if the U.S. government believe there's no systemic risk, it must be putting a lot of strain on a weakened financial system.

In my opinion....

Strawbs.

Well that was one of the biggest last hour drops ever,total panic overnight as well nikkei down 600 points though they were on holiday Sunday night. oil near 90 dollars talk of US rate cut .25/.50. Only thing going up is portfolio insurance vix... Some good companies will bragains at the moment though you need balls of steel a real buffett day

i would not be surprised to see a modest if temporary bounce in NY today ...... hope Fed does not cut rates as surely that sends out real panic signals

I think the Fed will want to keep hold of what little ammo it has left.....just in case the drama turns into a real crisis. Rate cuts don't appear to have had a great deal of impact, apart from short term market relief. As you say, it could also send the wrong signal.

In my opinion.

Strawbs

Are you long dow cynic? It could turn out to be a double bottom or the start of the big dipper? I am long ftse and lloyds from open with everything crossed

no ..... had a small profit in Dow short o'night which i have closed ..... have left FTSE short running for the mo, just as a bit of insurance

Good luck with your positions, I'm currently sidelined on FTSE and have a buy order in place for lloy a little lower. Compared to other banks lloy are holding up well today, only down 1.6% against other banks which are down between 5 to 8%.