Morning Call by Greg Secker

Closing 128 points down belied the Dow’s volatility during the session seeing it map out over 600 points having opened the day down more than 150 points. Support that was found at 11,000 saw a quick rally carrying the index into a positive level but that was reversed in the final hour of trading. This week with news breaks which lend themselves to the possibility of a further slide in confidence, the breakout from the 11,000 resistance level looks increasingly likely. The result may well then see a free fall in the next 1000 point section taking us back to the start of November 2005. The NASDAQ and S&P continue in their affirmation of this weakness so another volatile week to come. The FTSE fell 145 points to 5261 the low for the day and the Lowest close since October 2005. Since its peak in October 2007 this index has lost 20% and this solidly confirms that we are currently in a Bear Market. Just as with Dow, News breaks this side of the Atlantic are promising more of the same drain on positivity and could well drag this index into the 4000s sending us back to May 2005. Ensure that a watchful eye is cast towards these to ensure maximum potential is gained from these shorting opportunities should they occur. Gold is at $964.800 and Oil is trading at $144.570