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KiS, I'm not living here but this is where I 'work' and have my main account. Like many others, I sleep a few miles away in France.

Hi KiS, Yes, I have a lot of fun with the DAX. Have you spoken to HP recently?

Last night was pretty exciting but isn't it pathetic how Europe slumps back down this morning waiting to see America's lead this afternoon. It's like we need to be dragged each step of the way. I'm predicting that DJIA will pick up past the 8600 again later today. 3% across the board in a day (yesterday) will have made a lot of people who are on the side-lines sit up and pay attention.

Knocking on 4300 now. I am ready for a rally past 4500...but I am also poised to pull the plug if it turns sour.

After sliding for some time, the Euro is making back some ground on the Pound. I am still short on Euro, in favour of the Pound. How is everyone else reading things?

I am surprised that there hasn't been a bit more chat here. FTSE went under 4150 today.

Ooh, it's down quite a lot now. How low will it go, over how many days, with how many ledges at what levels? Strong stuff. I doubt that 3500 will be revisited. I think that LSE and the banks will fare better than they did in the last shake down... and I think that BLND and KAZ will stay well over £3.

Well, it's not exactly BURSTING through 4500 just yet. I continue to hold a short from 4418 so a return to 4400 or below would suit me fine (with regard to that position).

Well, I have the bottle. My short from 4350ish isn't looking too clever now but it is insurance for my other positions.

Yes, I too am expecting a drop but lacked confidence to short the FTSE 100 or DAX 30 more than a few points yesterday. I may go with mini contracts for £2 and €5 a point for 200 points but I prefer higher stakes and shorter intervals. I continue to do well with the EUR/GBP shorts...

Back to FTSE 100 ;o)... It looks like 4500 could come true for you today, Keepitsimple.

Hi, I had a little €/£ chat going on here somewhere in General but I can't locate it this morning. It would be good to have some quality discussion on what is a very significant ratio affecting the price of goods in and from the UK, pensions, property speculation, holidays... Allow me to present a potted modern history: I believe that around 1992 the ERM had 0.74 (1.35) in mind for the Euro Pound (Pound/Euro) to be pegged. For quite a few years since the introduction of the Euro, the rule of thumb for most holidaymakers was 0.67, two thirds (1.5). This was convenient and usually not far from the truth. From 2007, the Pound dropped in large steps 1.45, 1.35, 1.2, 1.1 (I can't be bothered to do 1/x here). Over December 2008 the media threatened parity; 1:1! Shortly after the start of 2009, the EUR/GBP dropped from 0.96 to 0.93 where it hovered, roughly, before dropping to where we are today 0.89. €/£ is threatening a rise over the last couple of days but, as I have asserted for some months here, I think that the Euro is due a real shock. From personal experience, goods in the Eurozone are too expensive in Sterling terms. With few exceptions, everything that one buys looks cheap when visiting the UK. The switch from FFR, ITL, DMK, PTA caused a lot of price inflation, devaluing pensions and many salaries such that common items were put out of the reach of common people. The massive social costs of Europe and trying to reconcile different economies (Ireland, Greece, Germany, Portugal, Baltic states) into one trading zone is going to reveal cracks before long. Nationalistic gestures will cause offence as demonstrations increase and protectionist policies are introduced. Europe is behind the curve of the US and the Commonwealth in this recession, the INSEAD statistic crunchers are slow and the news is even slower. It's not easy here to downsize your businesses or your public sector but the economic engines of Eurozone consumption, exports, tourism, construction, fiscal revenues are slowing significantly.

Bahman, you're right; bad on the eyes but pretty good apart from that. You'll find that you don't need to watch it so closely as time goes by, you'll be happier to let it run and get on with other things.

It's looking like an up day to me. Tesco setting the tone, which is, IMO, positive.

FYI, I closed the deal to get out with a small profit and my tail between my legs. I may very well regret that later today but I lacked the confidence that I had last night.

Thanks KiS, I still went short from 4055 for 50 points.

I am very tempted to go short on FTSE 100 cash from current level: 4055.

I drink a lot of coffee, Bahman! Seriously, I don't skip but I watch this index like little girls might watch a rope go round. I don't wait for either extreme of the swing because I want to get into the game, of course I also want to get out again without grazing my knee. If you have a decent wedge to tide you over a mishap, you needn't lose. I know that many here say you must set and take a loss but that's not usually what I do. I recognise an unambitous range and trade that. If it goes against me, I am confident that it will come back and I have enough margin with the broker for a bad (or even worst) set of circumstances. For example, I am about 55% sure that the DAX won't go below 4400 today. I am 85% sure that it won't go below 4000 this week and I am 99% sure that it won't go below 3500 this month. These are my 'moving averages', if you like. I am going long because there is better potential, IMO for upside. I set an entry point which is pretty low but not the lowest that I expect for the day because I want to play. I set a sell limit at least 40 points up from entry but may make that level the stop if I'm watching when it triggers and the DAX looks like overshooting. Midterm, I think that 4850 is very achievable. If one is patient, that is €8750. Who's with me?!

Is anyone here CFD trading the DAX 30? It's good entertauinment at €25 per 1.0.

For Bahman: ukjam hotmail com