UK Opening

Sorry for being away for a while, might be away for a while more atm, got lotsa personal stuff coming up.
However, ongy and I have agreed to one thing... a wait and see approach, we view entering hte market now as highly volatile and risky due to the amount of economic data coming out this week.

Given the scenarios and the quick day trades being made in Asia, we have decided a conservative appraoch to teh FTSE today is best which started negative and went into positive territory earlier this morning.

If made to take plays into account, I do see further downside later in the day (Swiss and Dutch data comning out today) thus agreed with a rotational move towards defensives like NG, TESCO and BT (despite the negative news today, look out for take up opps).

Overall however we resume our bearish position of the market and are holding to see if the next down cycle led by consumer credit and a dwindling gov. stimulus plan will have.