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

assuming the greek referendum goes ahead: “Markets should be nervous at the Monday open as they position for a (potentially disastrous) outcome of the referendum,” Valentin Marinov, head of Group-of-10 currency research at Credit Agricole SA’s corporate and investment-banking unit in London, wrote in e-mailed comments. “Even if the the referendum brings us closer to a resolution, the nervousness could easily grow into outright risk aversion.”

likely opt for safe havens such as german bunds et al imo

satisfying......................

pop the champagne :-)

The far-right Golden Dawn are voting for a referendum.

That suggests that the government should get a comfortable majority, as Syriza and ANEL have 161 seats out of 300 anyway....


So, if no surprises occur, #Greferendum is to be shortly validated by #Greece's Parliament with votes of Syriza, ANEL (gov) and GoldenDawn.
12:36 AM - 28 Jun 2015

have you placed the order for your yacht yet?
i guess you're already short of the markets so very well done indeed

meanwhile, Sunday IG (defensively) opened with both FTSE and DOW down 200/250 points
assuming the real markets open similarly tomorrow, and of course there'll be a lot of margin calls and forced selling too, the early falls are likely to be overdone
therefore perhaps a good opportunity to realise some of those hefty profits, and even go modestly long
my guess is that it'll be too late to open new short positions, or at least the risk/reward ratio is unlikely to be tempting

btw, don't forget that this referendum is to accept or reject ECB/IMF proposals and NOT to exit € and eurozone
it is for tsipras to get a mandate to keep negotiating hard and give nothing

Closed out of my long position on Friday on afternoon FTSE 100. Was disiplined with protecting my account. Correct decision. The Greeks are taking us all with them. Reminds me of 2007 when sages said Sub prime could be contained. Effects are going to find new weaknesses not thought of yet.

So does this weaken or strengthen the Euro/$ ; Euro/£.
2517

cynic 17963 - you are correct i am short of the markets hence early celebrations - not sure if i want another yacht though lol ; not sure it is too late going to be volatile imo - a lot have been sleep walking into this expecting a positive outcome so it is really hard to call how far this will go

another view: “Markets will likely go into risk-aversion mode on Monday,” Siegenthaler wrote. “Until last night there had been a strong consensus that a deal would be reached over the weekend. The new situation following the Tsipras’ announcement is a much worse outcome than expected.”

i can't see any way that this can be good for €

cynic 17964 - true but traders are now leaning toward a grexit anyhow and believe the bookies have cut the odds also - some heads should role at imf they are not much more than a joke with over inflated egos - as for the ecb they are just run by clowns without an ounce of common sense between them all to scared to take any serious decisions - much easier just to throw money at a losing bet so far LOL

claret - well done that man closing the long! good stuff

2517 - it may actually strengthen bizarrely because of the ecb bond purchases - also the $1.2 trillion ecb q/e to sept 2016 lowering bond yields also single currency is worst performer so far this year except for the new zealand dollar among 10 developed nation currencies - need to have a discussion on that first though..............

with hindsight, should probably have reversed my position on friday rather than just reverting to neutral

cynic - that is a tough call ref euro - several opposing views on that one - you maybe right

i don't ever trade forex, but i cannot see how this current nonsense can possibly be good for €
writing from cascais, i'll be interested to watch €/£ :-) ....... currently showing as 1.41

can't believe how cheap everything is around here, though i expect algarve continues to fleece all and sundry
simple example
train from cascais to lisbon (about 30 minutes) at any time of day is €4.80 return ..... now have a look just at london underground prices!

lol the trains - glad you are getting good value and i bet you are not squashed in like sardines as we are on the london underground................

it's the easiest way to get in to central lisbon

need to go there tomorrow morning for a private walking tour - again ridiculous value at €150 for the pair of us for 3 hours
if it's anything like one we did in venice, it'll be really good fun and very informative

good stuff - enjoy

more fantastic news - ecb only maintaining the funding NOT increasing it :-))))
to me this decision to just cap emergency liquidity at just under €90B give or take a few bob ; - puts greece’s financial system under even more strain

wonder if the russians et al will step in - perfect opportunity for them!

yum yum - even more uncertainty and chaos - let the games begin

Euro down, trade up, maybe!

dax & ftse rated strong sells - you know the dow ;

fred - well some say yes but beware i am also hearing quite a strong sell - these are virtually uncharted waters in some respects - depends also what term you are considering i am guessing short term rather than long ;
gl whatever you decide

btw greek banks to remain closed tomorrow according to reuters ;

and a call for a solidarity rally for no to austerity in trafalgar sq! et cetera