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

Very Good Skinny!! If you could turn the below into a chart I've marked support and resistance.

http://rt8.it-finance.com/FinSpreadsFlash/showimage.phtml?id=9879028a7ddd00674f42e435c52d5c56c18f16a82dae7cd91434cb00e23244f6&type=png

I can't seem to atm, the best I can do is turn it into a clickable link - click for chart

I'm sure hilary will enter stage left :-)

Try putting it in an inline frame, and be sure to declare a width and height otherwise you'll get scrollbars.

&ltiframe src="http://rt8.it-finance.com/FinSpreadsFlash/showimage.phtml?id=9879028a7ddd00674f42e435c52d5c56c18f16a82dae7cd91434cb00e23244f6&type=png" width="820" height="620"></iframe>

Easy innit? :)

Thanks hils. :-)

Shortie - have you changed the HTML in your post? - it was a secure link before.

Thanks Skinny, so as the chart shows today the DOW is testing 13020 support after yesterday testing and falling back against 13280 resistance. If the current support breaks I see next support at 12760 being the mid point of the July range, how much support will be at this range is another question. Also note the DMA crosses, 20DMA is about to cross down the DMA100 confirming the downtrend, a close below 13000 the phychological level should see a fall to 12760 support. IMO anyway

Hi Skinny, I posted the wrong link then edited the post with the correct one. Whats a secure link, is that like when I log into my spreadbetting account and get the padlock

Yes - that's why I couldn't post it originally and have only just noticed it had changed!.

Anyway, its sorted now.

for my part and for my sins, i topped up dow long at 12945

LOL skinny.,.

11:31 EST - The cost to insure US Treasurys using credit-default swaps is up 6% since last night in the wake of the presidential election, according to Markit data. Meanwhile, the cost to insure investment grade company debt is up nearly 3%. "Risk sentiment has taken a turn for the worse as market participants realize that, while the election outcome last night may have changed some of the faces in Washington, the major principles did not," says Otis Casey, analyst at Markit in New York.

11:38 EST - Wells Fargo's chief economist John Silvia sees some sort of resolution to the fiscal cliff now the election's done. He expects the Bush tax cuts to stay although highest earners may pay more. There will likely be $100 billion of budget sequestration that will include defense cuts. New taxes on interest and dividends are likely. Silvia also sees continued Fed easy policy and low long-term rates, which should boost real estate and commodity prices.

there's no question that this fiscal cliff nonsense will be resolved - as i posted earlier, as usual, it will be the 59th minute minute of 11th hour ...... i really do get very cross with these american nincompoop senators who think only of playing heavy-handed partisan politics and clearly have no great concern for the general wellbeing of the country or its perception in the wider world (as if they even know that exists)

Just catching up with all the posts here - wonderful cartoons Skinny :0)

Had a lovely ride on my shorts today, and then went long at one time, thinking the DOW would surely pick itself up at around 13000 but got beaten up!

Speculative or stupid? Long Dow @ 12,953. Caps futures.

inevitably speculative, but i do not think stupid, but then i bought more at 12945

EUR German Trade Balance 17.0B consensus 17.2B previous 18.1B

EUR French Trade Balance -5.0B consensus -5.0B previous -5.3B

I'm staying short with the trend on the DOW, I don't think it matters when the fiscal cliff is resolved, the US debt situation remains and will eventully lead to austerity. The ongoing QE programme is likely to remain under Obama, the yield on 10-year treasuries should fall back to 1.5% or lower and the dollor remains strong despite the massive increase in money supply. So short dollor, short Wall St and now to pick my entry points.

Just as a matter of interest, do you not hedge your currency activity with a pairs trade, just in case it all goes wrong?