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

Goldman pouring fuel on the fire:


NEW YORK (MarketWatch) -- Unemployment will reach 9%, from 6.5% currently, by the end of 2009 and the economy will shrink in each quarter until mid-2009, said economists at Goldman Sachs on Friday. The firm's forecasts are lower than previous predictions due to "continuing signs of falling domestic and foreign demand, labor market deterioration, renewed tightening in financial conditions, and an apparent impasse in fiscal policy pending the transfer of power to the Obama administration in late January," analysts wrote in a note. If unemployment reaches that level, it would be "unequivocally the worst single downturn on record since World War II." Gross domestic product will shrink 5% this quarter, and 3% and 1% in the subsequent quarters, they said. The forecast leads to a 25% decline in after-tax corporate profits, which would be the worst since the Great Depression.

Are Goldman Suchs still forecasting the oil price reaching $200 per barrel next year? I suppose nowadays their guess is as good as mine.

it wasn,t a guess halifax , they and Merrill lynch run the oil market and they were trying to move it up.

We know that but they failed because their antics were so transparent.

Opec may be more effective at moving the price up, certainly in the short term.

what OPEC says and what OPEC does often bear no relation!

Halifax I think they were targeting $50 after they closed their oil longs and opened the shorts

sorry if i misunderstand,
am i on the wrong thread guys? oil?
regards
jkd

What everybody needs is for oil to start rising again....ftse would climb as well.

DOW climbed nearly 500 points on the back of no significant news that I can see, unless it was Citigroup's rescue which triggered it?
I think a lot of people will be very glad that oil has collapsed back to $50 a barrel (Consumers rather than investors), so enjoy it while it lasts rf !!!

I've noticed a lot more cars on the road as of late...no doubt : cheaper oil prices !....at a guess oil has to rise at some stage....it costs a packet to get it out of the ground !.

anyone think the fiscal package to be announced tomorrow will have any real or immediate impact? .... is a cut of 2.5% in VAT really going to stimulate a buying spree? ...... can't see it myself

No chance the electorate aren't that stupid, they know cash is king at the moment, a reduction in vat doesn't put any money in your pocket.

"is a cut of 2.5% in VAT really going to stimulate a buying spree?"

No chance.

But is buying really drying up - or simply moving down a slot?

You can't afford a new house so you spend some of the money you have saved on a car.

You can't justify buying a fresh car so you treat yourself to the plasma you have always wanted.

IMHO people are still spending. They can't kick the habit, so they buy less expensive goodies.

Interesting article in yesterday's FT about the problems of calling a restaurant a restaurant. Makes it sound pricey - so you call it a brasserie or bistro or whatever.

TP

if you think people are still spending, then take a walk down your high street ..... reality does not lie!

c,

That's what I based my impression on.

Putney High Street looked pretty busy to me on Friday - as were the hostelries in the evening.

TP

It's going to be patchy up until christmas, for example Manchester was busy as ever I have seen It at this time of the year on Saturday.

After December watch out the normal lull will be much deeper IMHO.

the following is a clear indication of what retailers think ..... bear in mind that parents will always give to their children and cut back on themselves ....

British toy maker Character said on Monday it had seen a double-digit percentage drop in sales volumes as retailers have cut back on orders due to a downturn in consumer spending.

Loads of data out this week both in the U.K & U.S., re house & retail sales, so should see a more interesting week than the last one. Interim results out for three of the big water Co's & finals out for Imp Tobacco, to name just a few.

Thanksgiving long weekend stateside coming up which according to live oscar means even more madness than usual though more of the countertrend tendencies in indices and currencies.825 s&p resistance in down channel . Commercial real estate teetering on the edge