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Traders uncecided on market direction

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24/01/2008

Traders betting on the direction of the stock market are undecided where it’s headed next, website BetsForTraders.com has said.

The website, which offers fixed-odds financial betting through a range of 10 different types of fixed-risk bets on financial markets, single stocks, stock indices and the foreign exchange markets, has produced an index measuring the sentiment of traders’ bets.

During the past month, the index has become more volatile as traders wait to see how the current economic slow down in the US develops. During the last week however, it recorded an increase in traders’ sentiment, which, according to a spokesperson for the website, are a result of two things. These include the Federal Reserve cutting US interest rates by 0.75% on Tuesday, as well as speculative traders attempting to cash in on the rebound of the market this week, which usually follows sharp declines in share prices.

A spokesperson for the website has predicted the sentiment index will stay around the 50 mark (out of 100), meaning that trader’s sentiment will remain neutral until market volatility ceases. 

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