It's moving a lot more than 2-3% daily, although a bit more muted the last couple of days. The swings are more than that and it is definitely fine to day trade, particularly with no stamp duty and generally a spread of a few pence.
Yes, short-lived. I couldn't get a dummy sell on more than 100k when the sp was 8.85, so I did wonder if it was going to last. Shame, but we know one day it will move and then hold and push on. Next time Indiana Jones!
Whether you think it a punt or not, the market currently does - hence the sp but more importantly the potential bond offering that was pulled - if the bond needs such a coupon to get away and yet bonds are much higher up the security scale than shares, this should show what a punt it is. I have invested myself here in the past - mostly in and out and am also looking longer term, but people who think it is a sure thing and only going one way are taking unnecessary risks that they don't really understand, and may get badly burnt.