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

U.K. banks that don't ring-fence could be broken up........
With U.K. lawmakers seeking ways to apply more pressure, Britain's banks now face the possibility of being broken up if they don't comply with ring-fencing. The Parliamentary Commission on Banking Standards is set to release a paper Friday that some say is "more Volcker than Vickers".

lol

Wall Street Pares View on Apple

By Alexandra Scaggs Apple Inc. (AAPL) is losing its status as the apple of Wall Street's eye. From the close of trading Friday through the stock market's open Monday, three Wall Street research firms adjusted their views on the tech giant, and the changes weren't for the good. Citigroup cut its rating on the stock to "neutral" from "buy," along with its estimates for earnings-per-share and revenue. Pacific Crest Securities and Canaccord Genuity cut their earnings-per-share estimates, revenue estimates and price targets for the iPhone maker. That advice came after UBS on Friday cut its price target and estimates for the company. Analysts have been steadily paring their outlooks on the stock. The average price target has declined to $749.41, a 5.4% drop from its peak of $792.40 in September, according to FactSet. It was in September that Apple shares hit their all-time closing high of $702.10. Monday morning trading, shares were 1.4% lower at $502.63. Generally, analysts have been very bullish on Apple over the past two years. At any given time over that span, an average 92% of analysts have recommended investors buy the stock, FactSet data show. But as of Monday, 87% of analysts had a "buy" rating on the stock. The group is focusing on a couple of key concerns: a projected slowdown in iPhone 5 shipments and sales of the new iPad mini potentially chipping into those of the original, larger iPad. Citigroup cut its price target on the stock by 15% late Sunday, and trimmed its earnings-per-share estimates for the company's 2013 fiscal year, which starts this quarter, by 15%, to $41.75 from $49.21. On average, analysts expect Apple to earn $49.04 a share for fiscal year 2013, according to Thomson Reuters data. Citi's team covering Apple--which brings together three analysts from separate technology coverage areas--said it had just returned from visits to the company's hardware suppliers in Asia, where "evidence of Apple order cuts...had emerged." The firm said the cuts "bring into question the strength of [the] iPhone 5 and refocus investors onto risks." Canaccord made smaller share-price revisions, reducing its price target by 6.2%, to $750 from $800. Canaccord analyst T. Michael Walkley cut his earnings estimates for the fiscal year by 5.5% on expectations of slower international sales but thinks the slowdown will be "primarily in Europe." He voiced concern that the iPad Mini was "cannibalizing" demand from the more-expensive iPad. But he expects Apple to recover and is still recommending clients buy shares. Pacific Crest analyst Andy Hargreaves isn't as sanguine. He moved his price target 12% lower, to $565 from $645. "We believe weak global economic conditions and saturation at the high end of the smartphone market are reducing Apple's ability to add new iPhone users," he wrote in a note to clients Monday. Mr. Hargreaves cut his earnings-per-share estimate for fiscal year 2013 by 12%, to $45.13 from $51.49. UBS analyst Steven Milunovich was on the leading edge of the current cuts with his note Friday, and he also cited a production slowdown. He cut his price target by 10% to $700 and earnings-per-share estimate by 8.7% to $47. "The stock has been a tug of war between low valuation and peaking growth and margins," he wrote in a note to clients Friday.

FTSE shorts closed, profit taken.

Apple's iPhone 5 starts strong in China but shares pressured

Mon Dec 17, 2012 3:34pm GMT
(Reuters) - Apple Inc sold more than 2 million iPhone 5s in China in just three days after its launch there on Friday, its best ever smartphone launch in the country, but Apple shares fell on Monday after Citi downgraded the stock.

The highly anticipated release in China, Apple's second-biggest market, has not eased worries about stiffer competition in mobile devices that has driven a slide in the share price of the world's most valuable technology company.

Jefferies analyst Peter Misek said last week that Apple had started cutting orders to iPhone suppliers to balance excess inventory.

GBP CPI y/y 2.7% consensus 2.6% previous 2.7%

GBP PPI Input m/m 0.1% consensus 0.1% previous 0.4%

GBP RPI y/y 3.0% consensus 3.2% previous 3.2%

GBP Core CPI y/y 2.6 % consensus 2.7% previous 2.6%

GBP HPI y/y 1.5% consensus 1.6% previous 1.7%

GBP PPI Output m/m -0.2% consensus 0.2% previous 0.1%

Boehner to speak soon - reported to be adding plan B.

Edit - Reps current position in the form of a bill - protecting below USD one million.

Can I have mine in used tenners please?

Thought you'd want Euros Hils :-)

Nah, who'd want that busted flush, Floss? I'll stick with Swiss francs, thanks. :)

long DOW rocking n rolling ...... next target is 13871, but obviously there'll be a pullback in the interim

FTSE 250 target is now 13372, but same comment applies as above

stopped out of dow at 13325, but tasty profit in the bank

S&P raises Greece's credit rating

Ratings agency Standard and Poor's has raised the credit rating of Greece's sovereign debt by six levels, praising the "strong determination" of fellow eurozone countries to help it stay as a member state.

S&P has increased Greece's rating from "selective default" to "B-minus".

The agency also praised the continuing efforts by Greece's government to cut its spending.

Greece is currently receiving the second of two bailouts.

Greek bond bet pays off for hedge fund

One of the world’s most prominent hedge funds is sitting on a $500m profit after making a bet that Greece would not be forced to leave the eurozone, bucking the trend in a difficult year for the industry.

Third Point, headed by the billionaire US investor Dan Loeb, tendered the majority of a $1bn position in Greek government bonds, built up only months earlier, as part of a landmark debt buyback deal by Athens on Monday, according to people familiar with the firm.

EUR German Ifo Business Climate 102.4 consensus 101.9 previous 101.4

EUR Current Account 3.9B consensus 5.8B previous 2.4B

DOW and FTSE long plays I regard as a house of cards, Both indicies to be are very overbought at present.

that is partly why i set a stop on my dow long last night and was scarcely distraught when it got hit ...... it happens that i opened a small ftse 250 long this morning, but again, i do not expect to stay in long (it's nicely in the money at the moment)

my HG&H Index contract is also showing a decent profit, but if the market falls, then so will that index, so again, i shall not be greedy

I was cashed in on December Futures yesterday so not alot of unrealised profit/loss on my portfolio at the moment, my DOW play is in loss but my FTO March Futures more than cover. I'm going to run a FTSE short, small position on rollover to cash in on the inevitable fall.

Thinking the same Shortie, UKX may well rally higher till friday but has to fall eventually, buiding a short position starting @ 5971.7

FTSE/DOW YTD.