Morning Call by Greg Secker

Yesterday the FTSE lost 130 points to close down at 3,874 at its lowest level for five and a half years. Today look for continued volatility towards the end of the session and week given there is no major market moving news releases coupled with the usual end of week position profit taking. In America yesterday, the Dow Jones fell 444 points to again breach the 8,000 level and, after an upward surge before lunch, the Bears held sway so that the index trailed down nearly 800 points from the day’s high, finishing at 7,552. Today, as with the FTSE, look for continued volatility. Such has been the level and speed of decline in recent days, there are now renewed calls to reinstate the ban on short selling of 799 shares in the American markets that was lifted there on October the 8th. Oil is currently trading at $48.75 the lowest level since mid 2005 and Gold is at $745.90.