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

Both FTSE and Wall St should recover above 200 DMA today and tomorrow, I think Thursday will have change of direction. Wall St lagging so should be easier to trade IMO..

In Ireland? :-)

Nice edit!

I was wondering why that sudden surge: a ceasefire between Hamas and Israel reportedly was "imminent".

Yes - its a start hopefully.

I doubt the ceasefire had much to do with it.

No - but it is, however temporary, a stop to the killing.

That it is Skinny, and I'm in full support of anything that could broker a long lasting peace in Gaza. Kofi Annan quit back in the summer due to security council frustrations with the UN's lack of conflict resolution. Has any progress been made since...

cynic - 19 Nov 2012 16:49 - 9668 of 9701
shortie - i recollect that 12740 was an alleged dow support .... that being so, you may like to consider shorting now it has reached that level

You must have had a moment Cynic, short against support?!?

http://rt16.it-finance.com/FinSpreadsFlash/showimage.phtml?id=8dcf738f66956349568f0fd63eadca7c7f343c3937cba1bc761907aea8cc8be5&type=png

Through 1hr chart resistance @ 12764 on Wall St. See where we close and if this line will provide support. Notice the 20 DMA line has also crossed 200 DMA on the chart might get some sideways action. Will use 12764 as my stop loss for any longs placed tonight.

can't remember! .... brain must have been fine burgundy driven as actually went long at 12766 somewhere around the close last night and am still holding that :-)

Well it's just dropped to 12746 Cynic - so I hope you're not gulping too much of that wine of yours!

It's dropping like a lead balloon - glad I went short earlier form 12780

Ah right - forgot Bernanke was giving a speech again this evening (our time) - hence the sudden drop of the over the cliff, as he was talking about The Cliff

From Reuters:
'Bernanke, in comments before the Economic Club of New York, said the Fed does not have the tools to offset the damage that would result if politicians fail to strike a deal to prevent going off the fiscal cliff... Bernanke said he does not believe the possible benefits of cutting the interest it pays on bank reserves are sufficient to outweigh the risk of trouble in money markets.'

"In the short run, we're hostage to the fiscal cliff. I think (Bernanke's) got to be really, really fearful that Washington doesn't get its act together and that creates stresses on the financial system," said Dan Veru, chief investment officer of Palisade Capital Management in Fort Lee, New Jersey.'

it's only a very modest position ... in any case, it's even shorter odds that fogl finding any hydrocarbons in loligo that the amis will cobble together a budget deal, even if at the 11th hour

That's all right then - you can go back to enjoying your wine :)

too late - i've finished it

Plenty more where that one came from!