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

personally, i would not touch ANY chinese company (even with yours, as used to be said!) ..... they are totally corrupt as the many singed round-eyes have discovered to their cost

HCM & CTEK only. Happy new year all.

Lena Komileva, chief economist at G+ Economics, has drawn a conclusion on the argument that four years of record monetary expansion and $1T-plus annual budget deficits have failed to generate enough cyclical amplitude to close the twin employment and fiscal gaps in the US economy. "A midnight congressional deal on the US budget may avert an economic cliff, but it will not eliminate the political and economic reasons that have brought us to this point. This raises serious questions as to whether policymakers will act in the public interest rather than in their own self-interest as elected career politicians."

DOW short cashed in, now playing 10 minute charts..

sensible chap shortie .... should have been a good wad with which to start 2013

i recollect that 12940 is/was quite an important support/resistance, so perhaps a level to watch

I took 60 off the DOW on that last gasp surge - Obama due to speak shortly I believe.


Happy New Year.

12940 also rings a distinct bell with me.

And yes, Obama due to speak at 1:30 pm his time - 6:30 pm ours.

Happy New Year All!

i would expect him to be conciliatory towards the republican morons, but remind them and everyone else that there is a very long way to go - always assuming the morons do not end up throwing a total tantrum at the last second

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any thoughts on hilary clinton as next democrat presidential candidate?

i confess she has grown hugely in my estimation in the last couple of years, and with the "moron party" heavily into self-mutilation, i think there is a good chance that she could win the next election

I had hoped she would run for President too, cynic, but reckon she'll want to look after her health instead! - pity

she's one ambitious lady, so a bit of concussion should not stop her

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foolishly caught the falling knife this morning and topped up Dow ..... have just encashed that one (+115 phew!)

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and just stopped out of another tranche at 12985 for a modest loss, more than offset by the above

crikey ..... better not say what i did, but by golly last day of the year sure ended well for me .... lucky alphonse comme on dit!

1 January 2013 Last updated at 08:58

US Senate passes key deal to avoid tax rises

The US Senate has approved a deal to avert general tax hikes and spending cuts known as the "fiscal cliff".

The bill, which raises taxes for the wealthy, came after lengthy talks between Vice-President Joe Biden and Senate Republicans.

The House is due to consider it later. Spending cuts have been delayed for two months to allow a wider agreement.

to be read as, to allow the morons time to make even greater obstructive idiots of themselves instead of working for the general good of the country

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glad shortie closed his short positions .... bet he is too!

They are wreaking their future generations lifes, ie grandchildren etc. Going to be very tough future years.

thought i'ld be a smartarse and open a new ftse position - IG indicates only +29 - but unfortunately all closed up and couldn't deal ...... it must re-open late this evening, but probably not until after my bedtime

DC - never expect ANY politician to look further than the next election, if that far, and the amis are far far worse .... that only about 30% even own passports tells you plenty about their introspection which allows them to delude themselves that the country is the world's greatest role model.

i think the fact that chip+pin is still unknown in usa says plenty!

A very piggish attitude live for today, have the pain another day. Looking at the old boys walking out of the talks (all over the hill as to say) they all look like they have done well out of life. They are really giving the country away to those buying up its debt. No doubt before long a certain country will be steering the reigns and they will be told whats to be done.

Thats the problem here cynic do politicians do whats best for the country or to win votes. Perhaps things need to be changed. How I do not know. Happy new year .

at least in this country, at the end of the day, what the governing party decides to do, it does, albeit that the lords and opposition can and do have the power to smooth out some of the excesses and similar prior to enactment.

With the split party we seem somewhat like the states. Thinking about it a lot of their states are near bust , so they are going to have real pain ahead. Why not put the petrol price up over their and down size their gas guzzlers for a start. You cannot live that wealthy without earning it.

Very interesing chart.