I'm already short at ig cash 6215. As i see it the risk is about...

I'm already short at ig cash 6215. As i see it the risk is about 6225 max, and I think 6200 is more likely if at all, and theres almost an inevitability of a selloff later as we come to the end of the last trading period before a three day weekend with the usa markets looking el sicko. And i think there is more to go with this correction, probably 6000 ig cash, so I don't see too much upside risk medium term (for me thats a couple of days). Theres a small risk of a bounce in the usa tonight if oil comes off and/or bond rates fall back, but again I can't see too much upside risk because the internal dynamics of the market have been sick for a while and we're into the choppy at best usa summer season.

JC, the main index we trade on this thread is actually the futures indes, the SPI. Its based on xjo, the ASX/S&P 200 index. We call the stock index the cash index and the spi the futures index. In addition, some cfd provider companies (IG and CMC mainly) offer house brand derivative indexes, which are either based more closely on the spi or xjo. These differ in significant ways imho, but not all agree, from the underlying indexes they are based on. Follow up previous posts of mine if you want a critical if sometimes alcohol fuelled offbeat analysis of the cfd or house brand indexes. I've been doing it for months and won't repeat myself here. Hope this helps.