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CFD Traders DiaryLloyds TSB provides no great surprises22/2/2008 It's been a difficult week for trend traders with daily switchbacks as traders grapple with conflicting economic and corporate reports. To be fair the intra-day moves give excellent opportunities for day traders, but the annoying factor at the moment is the lack of clear volume, so longer term trades are more difficult to find. Today the focus has turned to Lloyds TSB, which announced a steady set of figures, for which the bulls heaved a sigh of relief. Although they missed forecasts slightly, the accompanying statement was pretty confident, and it just could be that the worst is over here. What we really want to see is a surge of buying volume, and indeed that applies right across the bank sector, because this could be one of the bargains of the year. As for the market itself, it remains very jittery after Wall Street's fall last night, and there remains something of a standoff between the bears and bulls this morning. If you look at the overall volatility this week, it has declined steadily, so the key may be to watch for the first impulsive move. As for the direction, it is unusual for us to sit on the fence, but that is what we are doing right now. |
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