Market stabilises after sell-off

After further falls this morning, the FTSE 100 is currently up 24 points at 5,361 after being down as much as 80 points and DOW futures are up 22 at 10,893. Unfortunately long positions in the FTSE and DOW were stopped out with the falls this morning and yesterday, illustrating the volatility of these markets and the difficulty in playing these short term movements.

Coal of Africa (CZA) has finally moved into positive territory after falling from around 150p to below 120p in less than a week on the general commodity sell off.  My expectation was that CZA would not fall below 120p given the imminent main market listing.  The shares are currently flat at 124p.

It has been reassuring that GW pharma (GWP) has not moved down despite the large market sell off and it is currently up 1.5p to 120p. I am waiting with baited breath for news of Sativex national approval in the UK and Spain.