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 one can get in quickly, HBOS or even Lloyds could be a very good buy in the morning ....... have left a small and profitable Dow long open, but am disinclined to open a FTSE long at this juncture as already +200 or thereabouts

changed my mind and banked the profit!

I think Lloyds adr's are already 290 cynic probably best jostleing into the auction

how does that equate to the UK price?

It hit a low of $17 stateside and closed around $22, roughly 3! Asia and futures may also affect, my short term target is 350 might get there on a spike, though I'm sure there's lots more bad news round the corner so will not be holding long term save for a small core perhaps

Hmmm. Might be tempted by some speculative longs tomorrow. The shorts will have to decide, keep the position and lose money, or close the position and not be able to reopen.

Still not convinced the problems are over, but could be a good opportunity at the right price.

In my opinion.

Strawbs

the charts on page 1 are worth a look, if only to see how far we have fallen through all the supposed support levels and, despite yesterday's surge on Wall Street, with a further jump indicated today, we are still way way below even 25/ and 50 dma

Oh well, get ready folks. Not sure I can stand another day like yesterday. My blood pressure must be sky high unlike my shares!

Having thought about things overnight, I might steer clear of buying anything today. It strikes me that as yet we haven't had the "Oh my God" type fall that's associated with a market crash. That 800 point move that gets you in the pit of your stomach. Many I fear will pile in today, perhaps misguided in the belief that financials are now safe with short sellers gone. The problems remain though. If the falls are more about a lack of buyers, than a mass of short sellers, we could be about to see a final exhaustion of the bulls, before that big drop I've been expecting.

In my opinion.

Strawbs.

if i was going to be in the office, i would actually take a look at shorting either FTSE or Dow as it is hard to believe that they will continue straight up from the (indicated) opening levels .... however, gyrations are almost inevitable, so to be away from the screen would be almost suicidal

These conditions are almost unprecedented so difficult to know what to do. Things are going to gap up massively and then possibly drop back so may just sell when out of auction

Watch out for the possible LSE market Freeze due to volume..with trading suspended for the rest of the day. With people unable to sell at their paper profit!

There are some seriously wierd looking prices around this morning on some of these banks. I'd love to look at a level 2 screen and see how much of it's genuine and how much is price manipulation....

Maybe someone with level 2 access could comment....

Strawbs.

strawbs,

a lot of them remained in auction after the open.

Ian

I managed to buy hbos at 195 in auction somehow now sold ! sold some lloyds at 375 but keeps freezing so can't ditch last lot very strange.

Thanks Ian,

Makes sense.

Strawbs.

selftrade crashed again!

this is setting itself for some one mighty crash. I would rather be a sleeping bear than a mindless stampeding bull trying to catch up with a run away train. I have enough interest in the market that might do ok from this but im not commiting any new money as companies cannot justify 80% increases such as BB. overnight

i want to sell into this but have no chance. grrr

actually nice to see the mkt makers are up to their old tricks and chopping some of these quotes off at the knees from their earlier highs and massive spreads. The tricks never chance as there is always an endless line of sheep to be slaughtered

If I wasn't so cynical.....

I'd have to say it's lucky this is happening on witching day....

Oh. Hold on. I am cynical!

In my opinion.

Strawbs.