TandH, the markets in caos at the moment, I think. Personally the overview of the market I think is for it to test new lows, but can't guarantee anything as I would be rich if it was that easy. As the FTSE is not to far from it's last low, I have decided to go long and then scalp with shorts to cover the long positions if the FTSE falls further. If it will work I'm not sure, but hope it does. I've lost a good bit over the last month on stocks. With indices I've made some money, but lost it all and more due to my equities. So I've finished equities and will just do the indices now as they are much easier to daytrade than stocks and have a nice tight spread.
I think you might be right and I'm pondering going long on the FTSE today too perhaps on a July future, in case theres a bit of downside before it turns back up.... Not gone in yet though - I do ponder for rather a long time!
Sorry didnt read this sooner! Went long on FTSE & DOW from 8am this morning. Quids In $$! Hope you did likewise... 5700 are too low without any major disaster...banks and housing taking a hit again but never expected as low as earlier in the year, pressure on from the US, just a combination of bad news but the markets will pick up after this little kicking... I expect long to about 6200+ over the next month..
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