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Back to the market…

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Around 9am FTSE rallied again to a new high at 6307 and fell back again. But the fall was not rapid and FTSE then saw a brief move back above 6300 – this was not too encouraging for the bear case!

But this brief move to new highs is the sort of action that can stop out traders who are using spread bets to place trades and is one very solid reason why I much prefer binary bets.

For the next few hours not a great deal happened as FTSE bounced between 6310 and 6270 – in fact it looked as if we might be seeing some sort of correction before we went higher. However the failed break above 6300 remained a solid sell signal and this was still in place so I kept the faith.

While this was a happening I was fairly busy working on a new DVD series and preparing some trading examples for that series and a major seminar I was giving shortly. I find it so much easier to do this creative work when I am away from my UK office – free of many distractions. I also think my frequent visits to the beach help – there is nothing quite as inspirational as waves gently lapping a tropical shore.

The sunset was stunning as well!

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