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

Pt - exactly - I've had to put it mildly - a naff week - so its nice to bank some profit.

That makes two of us Skinners :-(

15 min chart pattern didn't complete, I reckon it's going higher, but haven't got the balls to go back in right now!

and i moved my stop a bit further upwards

My candle pattern didn't complete on the 15 min but did on the 30min so very pleased I closed when I did.

Must admit I really thought we were in for a crazy up day, but plenty of time left yet!

stopped out at 11275 which was still +80 which is fine by me

Well done chaps

will you get back in?

I still think they might go for it in the last 30 minutes, but I have to go out - so enjoy!

Wish it was as easy to scalp like this everyday. Will it rally again into the close? Look forward to finding out when I get home from the pub :O)

Chris - when I said "have to go out" - that's what I meant :-))

Cheers skinny! enjoy.

Not sure Ricardo, wish I'd shorted the git when I closed now, but that's just 20/20 hindsight.

Like Skinners, I'm still thinking we're in for a charge, but I don't fancy trying to catch this particlar knife. Would much prefer a return to 11180 ish and then go long from there, but don't think it will be that easy!

Having said that, it seems to be finding some support here (11260)

Ricardo, believe the Markets close at 1800 today, don't be caught with an open position over the weekend you don't want!

A mini charge in the wrong direction!

IG still making a market, but spread on Indices 6 pts.

Still waiting for this bloody bull market?

thanks peter - a good warning!

Dc - who's predicting a bull market?

Bears in charge for now, grrrr.

I thought you did, a few weeks ago ?

ptholden - 21 Oct 2011 22:04 - 7228 of 7589
The DOW has broken through resistance tonight having been stuck in a trading range for a number of months. Chart convention would indicate the index will continue to rise before a pull back to that same resistance level which will provide support to a more sustained rally. I expect the markets to have a bull run for the remainder of the year. You heard it here first :-)