The market seems to be selling-off on the back of limited bad news imo, apart from the dollar that is.

If you can hold your nerve and apart from any short term requirements to offload poor performing stocks, I have a couple!!, my advice would be sit tight. This does not have the feel of the tech(mining!) bubble at all. Difference being there are a lot of good fundamentals, unlike in 2000 when there were a lot of over rated nothing companies.

Personally I would be inclined to lock in any profits before friday, just in case we see another drop, which I think is likely.

in that case, please either set stop losses and/or keep a permanent eye on things with a view to jumping quickly as necessary

Why not hedge by taking out a spreadbet short to cover some if not all of the potential loss on your investments?

One thing to remember while bargain hunting. You might be able to buy outside the market size for a share, but if the MM's don't want them back again, they won't let you sell outside the market size, at least not at the quoted price. You probably won't be able to sell online either through the RSP, and might need to place a limit order or contact your broker to sell. Of course all the bargain hunters are buying for the long term, so selling won't be an issue...... ;-)

In my opinion etc.

Strawbs

As Giles/Steve says above, Friday's US unemployment figures may prove a marker for market movements over here.

Caution required I think.

Late FTSE rally was a bit unexpected. Maybe current levels now looking a bit shaky as the DOW now down.
I still think that the end of the week will be down on current levels, but am happy to be corrected if anyone thinks differently.

Dow has finished soggy even if marginally ahead ...... Thursday may well turn out twitchy

With the Yen gaining strength against the dollar again (currently 115.8), I suspect "carry trade" worries will be in traders minds again..... It could also add some nervousness to Asian trade later tonight. Non farm payrolls on Friday might also fuel or flatten the fire.

Strawbs.

Looks like we are in for another roller coaster ride tomorrow. Put on your seat belts. Dow in steep decline at finishing minutes.

that was my prognostication, but IG indicate strong opening for bothe FTSE and Dow ...... but not inclined to believe that the latter (in particular) will hold.

another indicator of nastiness ahead (i think) is the sudden surge in house prices yet again BUT, from an insider (not me), there are strong indications that come autumn the housing market will have turned pretty sour.

also suggest you take a peek at the Telegraph Biz headline article this morning ...... "Turmoil forces hedge fund to slah investment target by 40%" ...... and another lead article, "Stealth tax threat to private equity"

Still on the sidelines here, and will remain so until there is a rise of at least 1% in the indices on above average volume.

For those who might be curious, my timing of when to get in and out of the market, and my interpretation of the market direction, is loosely based on William J O'Neill's writings, which has served me well. It matches my feeling that I'd rather be a bit late entering, instead of jumping in too early.

As always, DYOR.

Steve

it's more a case of getting out (or short) rather than in at the moment

Very happy to be 100% cash at the moment.

I'm happy to play it both ways. The volatility makes for rich pickings. ;-)))

Reminds me of the good old days.

so tell me Al ..... do you think today's strong showing will hold?

I'd like a higher bounce, cynic, into which I can get short. I believe there's another leg down yet.

12350 Dow and 6250 UKX would be fine by me. The 200MA for the Dow is still only at 11800. You could argue it should test that?

as i am already short, would rather straight down from here! ...... but agree that i cannot see much or any upside warranted ..... like you, i think there's still a lot of nastiness to come

Well the Yen seems to be going the wrong way now for "carry trade" worries, so I guess it'll be Friday's jobs report setting the tone going forward.

Strawbs.

$ is now slowly falling against , so that suits me (biz) very well ...... still happy to stay short Dow as it seems to me that too much bad and potentially horrid news is being ignored

Looks like brighter days are here to stay now, cynic.