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.

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.

Could be. Think I'll see what Friday's jobs data brings. Still. I'm starting to wonder if the phrase "Even if you're right, and everyone else is wrong, you're still in the minority" says a lot about market psychology.......

Strawbs.

It does make sense...majority wins.

And possibly loses too... ;-)

Strawbs

hyleo .... really hope you are not going to get suckered into that line of thought ..... sunny today but rain forecast for tonight ..... that's the weather forecast, but may apply elsewhere

I really don't think so now. Sunny weather ahead, cynic.

take your brolly and wellies ...... weather is really not remotely that certain

Most people in life don't get much money because they follow the crowd, those that really make it do something completely different, whether that be in shares or business, its the ones that buck the trend that make it big. However they probably suffer a little first but eventually the strategy pays off.

The difficulty is recognising when and what to buck..

Tim and me went down to Kent,
and met three women in a tent,
there wasn't really much to do,
so i bucked one,
and Tim bucked two

*dons coat*

I agree steveo, ordinary thinking yields ordinary results, but i dont believe the best strategies have to be complex.
I use the kiss strategy .

so tell me, which way do you think the crowd are going and are you betting against their sense of direction? ....... You have avoided nailing your colours to the mast so far