rather than pick out individual stocks to trade, it can often be worthwhile to trade the indices themselves, especially in times of high volatility.

for those so inclined, i attach below charts for FTSE and FTSE 250, though one might equally be tempted to trade Dow or S&P, which is significantly broader in its coverage, or even NASDAQ

for ease of reading, i have attached 1 year and 3 month charts in each instance

Well the markets have come off since 1:30.

UK's Osborne: Key Test Of Fiscal Policy Is Selling Gilts Every Week
UK's Osborne: Key Issue Is Cost Of Borrowing, Not Rating
UK's Osborne: Losing Triple A Rating Wouldn't Be Good Thing
UK's Osborne: Inflation Targeting Has Served UK Well

What an idiot!!

Thanks Skinny.

Fiscal cliff in the limelight again... hence the fall apparently.

I reckon the FTSE was due a pull back in any case

FTSE to break through 6,000 next year - Reuters poll
By Alistair Smout | Reuters – 2 hours 51 minutes ago

LONDON (Reuters) - Britain's blue chip share index is set to rise 8 percent by the end of 2013, accelerating after a slow start to next year on expectations the global growth outlook will improve, a Reuters poll forecasts.

The FTSE 100 is seen climbing a mere 150 points by the middle of 2013 before breaking out to 6,400 by the end of the year, according to the poll of 50 strategists taken in the past week.

The index closed at 5,945.85 on Wednesday.

"For investors looking to put their money somewhere, equities still present a viable option when compared to other asset classes, with the potential to offer capital appreciation as well as a decent yield," Angus Campbell, head of market analysis at Capital Spreads, said.

The FTSE has risen 6.4 percent this year, helped by gains in banking shares but underperforming European peers as heavyweight mining shares and international conglomerates struggled in the first half of the year. Miners lost 30 percent peak to trough this year, but have recovered 17 percent since June.

"Internationally exposed stocks should continue to do well and that means the FTSE 100 (FTSE Index: EO100.FGI - news) ... However, severe headwinds remain in terms of the euro zone debt crisis and so gains for stocks might be hard to come by particularly if those major threats to the global economy materialise," Campbell said.

Those threats include uncertainty over the so-called "fiscal cliff" - a series of tax rises and spending cuts totalling $600 billion (371 billion pounds) which could throw the U.S. economy into recession - and pressure in the bond markets on peripheral euro zone countries.

"Although concerns remain over euro zone sovereign debt issues, the U.S. "fiscal cliff" and the outlook for the Chinese economy, we believe these headwinds will be outweighed by positive factors such as strong corporate balance sheets, a reasonable valuation and an attractive dividend yield," said Paul Kavanagh, partner at Killik & Co.

However, other investors saw British stocks underperforming European peers if banks continue their recent rally. Goldman Sachs (NYSE: GS - news) chief global equity strategist Peter Oppenheimer told reporters at a 2013 briefing that he expected Britain's FTSE 100 to rise by slightly less than the Euro STOXX 50 (Zurich: ^STOXX50E - news) in 2013.

"We see a rebound in financials, and there's a greater concentration of financials in the Euro STOXX 50."

The poll revealed a broad range of predictions, from 5,500 to 6,560 for mid-2013 and 5,700 to 7,000 at the end of the year, with all but two of the 50 strategists polled seeing the FTSE hitting at least 6,000 by the year end.

This reflects a consensus that while concerns over the "fiscal cliff" and Europe (Chicago Options: ^REURUSD - news) , which will see elections in Germany and Italy in the first half of the year, may weigh at the beginning of 2013, the UK market should do well in the latter half of the year.

"If we can gain some economic traction, the second half of the year could see us finish on a sounder footing, hopefully giving us some good gains to finish the year," Dan Reed, broker at HB Markets, said.

i'm puzzling more about what to do with my juicy dow short at this level (13155)

Keep it running

On the other hand: I suppose you could cash in and re-set at, say, 13200?

cashed all in at 13189 ..... was too busy packing to see the bounce starting, but very nice profit nevertheless

===============

shall be back in uk at 10:00 tomorrow, so should be on line by say midday and can take a view then

Probably the best idea if you're going to be suspended above ground for several hours!

but at least not on the end of a rope!

================

i see that at the end it sold off again to 13150 ..... an interesting level that could now bounce, though looking more likely to keep heading south - qui sait?

and now back up to 13183, so clearly some fun and games ahead .... having done well in both directions in recent days, i'll try not to be too much of a smartarse, difficult as that may be

EU leaders promise further steps to quell crisis

BRUSSELS | Fri Dec 14, 2012 2:30am GMT

(Reuters) - European leaders agreed to press on with further steps to shore up their finances and sustain momentum in tackling the debt crisis on Friday, a day after clinching a deal on banking supervision and approving long-delayed aid to Greece.

After more than eight hours of late-night talks at a summit in Brussels, leaders promised to push ahead with setting up a mechanism to wind down problem banks, although it was unclear when the facility would be completed.

EUR German Flash Manufacturing PMI 46.3 consensus 47.1 previous 46.8

EUR German Flash Services PMI 52.1 consensus 50.0 previous 49.7

EUR Flash Manufacturing PMI 46.3 consensus 46.6 previous 46.2

EUR Flash Services PMI 47.8 consensus 47.0 previous 46.7

CAD Manufacturing Sales m/m -1.4% consensus 0.0% previous 0.4%

USD Core CPI m/m 0.1% consensus 0.2% previous 0.2%

USD CPI m/m -0.3% consensus -0.2% previous 0.1%

AAPL
heart in mouth, i topped up here at 509.25 .... so far so good

Cyners....

zerohedge @zerohedge

Apple release iPhone 5 in China in middle of December, blames weak launch on winter weather.
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45m
Marc @EvoDriver_1

@zerohedge people at Foxconn have too good of benefits... Remooove the catch net!
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42m
Lavern Cheas @LavernCheas6854

@zerohedge I can't believe this page is giving them away: http://tinyurls.us/46
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Honey Badger @jeff60150

@zerohedge just like a golfer blaming the wind for a bad shot. Apple...you so funny!
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Arno van Rooyen @Arno_van_Rooyen

@zerohedge well the launch in ZA was an absolute abortion. Mobile SP's ironing out kinks post launch date delaying stock delivery.

A HAAPLbinger Of Things To Come: Why Apple Breached Its "Generational Bottom" All Over Again