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.

Big spike down on dollar/yen. Now heading for support at 115....

Strawbs.

a sign of the day is that ICI, with a bid already in hand for 675, has been bashed by 13p down to 623 ...... notwithstanding a reasonable discount to allow for the time lag between bid and finalisation and some uncertainty as to all will indeed be completed, that is just ridiculous!

If it is the start of the bear market then we have had a good run, see chart bellowsrc="http://charts.moneyam.com/Chart.aspx?Provider=EODIntra&Code=UKX&Size=700&Skin=BlackBlue&Type=2&Scale=0&Span=YEAR10&MA=50;200;&EMA=&OVER=&IND=VOLMA;MACD;AreaRSI;&XCycle=&XFormat=&Layout=2Line;Default;Price;HisDate&SV=0">

Thats better!

better than what? ...... assume red = 25 dma and green = 50 dma ...... might be useful if you put in 200 dma and/or shorter timespan graph - say 3-6 months .... thanks

save you the trouble ..... Dow is supposedly sitting on 200 dma, but current indications are that it will open about 100 lower

Thats better ......the first chart did'nt paste, thats all not the chart looks better!

And wrong chart here is the one i tried to post.

the frustrating thing about all this sell-off / price tumbling is that (e.g CSR) the volumes are so small, but there seems to be much activity on th L2 screens, i.e ducking in and out without executing. Is this the action of the famous "black boxes"?

don't know, but shal (try to) hang on to CSR and several other decent quality companies, even if feeling obliged to dump others (PXC was not a diff choice) ..... the real prob for all is if you want/need to unload low-quality small-cap stuff; prob almost impossible, as i have regularly warned

OTT this , don,t know what to make of it , sitting here worried

un loading for me is not the problem (quote and deal), however, the crystallisation of the losses is. (and there you have it, I let the cat out of the bag).

Time to buy quality small-caps with good news out today.

For example - look at SER - announced VERY GOOD finance deal last night - $10m credit facility on very good terms. 'Only' up 15% today should have been 50%+ on a good day.

crystalising losses is always painful ...... got the t-shirt! ...... but judicious pruning is usually the best, if only to give some headroom when you might be tempted to buy

secruoser ..... you're a brave or very foolhardy chap to jump on board almost any stock let alone a mini-minnow like SER ..... if you are tempted to buy, take a look at TAN which is a decent and profitable company but has been bashed today despite a strong RNS

cynic,

Not if you know the stock very well and know the longer-term implications of last night's news, which is very significant indeed. I have added to my existing holding today because thanks to the general market conditions, the stock is priced far lower than it should have been!

MRP also released good news today. That and SER are 2 of the 3% of stocks blue today.

This is the best time to buy IMO when there is so much fear around.

good luck to you pal ..... SER is too small for CFD anyway; MRP i have not followed for ages and confess that i hold no (current) love for E&P companies without decent assets, which does not include pie-in-the-sky licences and similar

Gloom! also see traders thread

LONDON (Thomson Financial) - 13:39 16 8 07

.......................

According to spread bettors IG Index, the Dow Jones Industrial Average is expected to open down 125 points at 12,736. Separately, S&P 500 futures were off 17.80 points at 1,396.60 while Nasdaq 100 futures dropped 20.75 points to 1,857.75.

..............

IG currently indicating 12795 but very unstable