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

Long @6,590.6

Long LGEN @211.70

UK Osborne: No Obligation To Buy An Annuity With Pension Fund

Irony - my SIPP is with HL. (up nearly a quid on the combined pension/ISA news) and in my SIPP, I have AV. RSL & LGEN.

I've never bothered with a pension as the annuity system I always had my doubts about. Now however, the system appears to be more attractive.

The writing has been on the wall for a while for annuities - I just wish I'd known it was this budget that he was going to announce their ultimate demise.

All tax restrictions on pensioners' access to their pension pots to be removed, ending the requirement to buy an annuity

Note "to be removed"....

FTSE didn't like the budget much .

Shortie - hence my post 14866.

I would think that the companies involved may get a fillip from the increased hybrid ISA, but it must shadow into insignificance in comparison to their annuity business - especially where the holder dies.

BTW - I never intended taking an annuity - I've been in draw down for some years, so despite the decimation to the share prices of AV, RSL & LGEN, the news is excellent for me.

Banks and insurers worst hit I'd have thought... More into the pound right now Jimmy.

LGEN Coming back a bit now.

Apart from a quick short of William Hill which went well ,i did crap on everything today ,even had a go at a long on the FTSE and am holding a 20 pt loss at the moment.

gone long @ 6573.5

That's probably why they still don't tax spreadbetting, jimmy!

HARRY i rarely use it , only buy shares .

DOW
whither now?
very hard to tell .... i'm currently running short here but am decidedly undecided whether or not to cash in all/part of the profit
on that basis i probably ought to cash in and sit on my hands, but always difficult to do :-)

FTSE down into the 6400's....

Having been whopped yesterday I'm a bit loathed to bottom pick - although 6497 is S3!!

Ok long 6,497.3

Luckily I didn't leave my long running for long... Into the 6400's though which is where I thought we'd head.