Well the markets seem to have reacted with its usual indifference to anything that old 'Prudence' seems to throw at them. They're continuing to slide despite the billions in taxpayers' money he's handing out to irresponsible banks.

So, the question is: what do we spread betting enthusiasts do about it?

My response is still: nothing!

I've been asked by a few friends recently about how my trading is going amongst all this volatility. They're surprised to hear that I'm not doing a lot until things calm down a bit.

Now this seems to fly in the face of the pundits who reckon that volatile markets are the best time to trade since large swings can be very profitable. In theory they're right.

However, the problem lies in that those large swings are going in every direction except the predictable ones. So, if you think the markets are going to tumble and place an order to sell, they seem just as likely (and sometimes for no apparent reason) to go in the opposite direction.

Now all of this doesn't mean that I'm not paying attention, but I am looking for signs that some kind of trading rhythm is being adopted by the wider markets.

And that, my friends, is potentially a few weeks away.