FTSE rose to 4300 by 6% today. A good time to sell short might be tomorrow, this depends on overnight movements in markets. However 4400-4600 is a strong resistance against upward moves, so plunging into any long trades with both feet would yet not be a wise move.
Todays' bullish world market performance (Nikkei 5.20%, DAX 7.63%, CAC 8.40%) is attributed to Barack Obama's rescue package plans [see http://biz.yahoo.com/ap/081208/wall_street.html].
In out of hours trading I participated in short sale between 5pm-7pm (9th December) on the FTSE-100 index (here I refer to the FTSE-100 rolling spread bet as offered by selftrade.co.uk - subsidiary of Société Générale). The virutal payout achieved was of over 60 points on a trade from 4364 downwards. I think right now the FTSE is trading strongly between 4400 and 4350. Given the shady economic bias I will wait for technical confirmation into entering another short position on these markets.
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