High volatility in market leads to huge movements on DAX

Extreme volatility in commodity prices and stock indices before and during the hostilities in Iraq has cut liquidity almost to untradable levels. Huge market movements on the DAX, DJIA and commodity exchanges have kept sellers away, while strong production has resulted in massive oversupply.

Steven Spencer, managing director at CTA fund, TradeRight, says the 'real' volatility has been in currencies, interest rates and bonds, while market indices have been a minefield as well.

'Anyone trading i