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The FTSE 100 had a fairly flat showing on Wednesday as the 5800 level continues to offer a bit of an anchor to the market. Certainly, there is resistance above going to the 5900 level, and as such we may find the next 100 ticks a bit difficult to overcome. However, selling this market certainly doesn't seem to be the way to go either. This looks more like a slow grind higher, eventually hitting the 6000 level. Because of this, we are looking to buying ETFs that mimic the index at the moment to diminish some of the volatility that comes with the leveraged instrument at this point.
On the dips, we are more than comfortable buying but also understand this is more or less an investment. Central banks around the world are easing, and this makes stocks attractive. If we do manage to get above the 6000 level, it is at that point that we believe the markets will really take off. As for selling, we really don't have any reason to do so at this point. It would take a daily close below the 5500 level for us to get aggressively short via the futures market.