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

Have you two got nothing better to do on new years day!!!! very sad.,.

I see the 3rd sad person has joined in. Hny Bb

Fiscal Cliff? What Fiscal Cliff?

President Obama praises US 'fiscal cliff' deal

Barack Obama has hailed a deal reached to stave off a "fiscal cliff" of drastic taxation and spending measures as "just one step in the broader effort to strengthen the economy".

The US president was speaking after the House of Representatives passed a Senate-backed bill by 257 votes to 167.

With final vote, U.S. Congress resolves "fiscal cliff" drama

WASHINGTON | Wed Jan 2, 2013 6:05am GMT

(Reuters) - The United States averted economic calamity on Tuesday when lawmakers approved a deal preventing huge tax hikes and spending cuts that would have pushed the world's largest economy off the "fiscal cliff" into recession.

U.S. fiscal plan averts "dairy cliff," buys time for farm bill

(Reuters) - A deal approved by the U.S. Congress late on Tuesday to avoid the automatic tax hikes and spending cuts known as the "fiscal cliff" also includes measures to avert the "dairy cliff" - a steep increase in milk prices.

The tax agreement contains a nine-month fix for expiring farm subsidy programs by extending a 2008 farm law. That gives lawmakers time to come up with a new five-year replacement.

I see you've been busy Skinny - lol!

It'll be one cliff after another now - with the Debt Ceiling the biggest of them all!

Dreamcatcher: thanks for that chart!

Spanish Manufacturing PMI 44.6 consensus 44.9 previous 45.3

I thought they had just delayed the whole thing for two months? Kicking the can down the road again...........

Italian Manufacturing PMI 46.7 consensus 45.4 previous 45.1

Harry - they have :-)

They have kicked the can Harrycat, but we will no doubt see continuing wrangling now over the next 2 months. I can't see them coming to some agreement way ahead of that deadline somehow... maybe you have more faith in politicians :)

GBP Manufacturing PMI 51.4 consensus 49.2 previous 49.1

uk politicians - some ...... american politicians - none whatsoever! ..... they're as bad as the self-serving union leaders of old

Just had a small short at this level - just sitting on 6000.

I'm also short FTSE @ 6002.5.

COR!!!!
That took me totally by surprise.
Cash Dow suddenly jumped 150+, but apparently it is/was because the futures market does not open until 11:00

Rubs hands together gleefully - like Shylock some would say :-)

Hmmm - that was a rather expensive jar of coffee and marmalade!

Stopped @6015 Filled @6030.

New highs on the FTSE250.

Cynic nice to see someone on the right side of the DOW jump, that cost me 150 points, and am now out of the DOW.... FTSE however I have extended my short positions to now average 6019.9. If the house of cards continues the ralley I'll extend further... As the below hourly chart shows, FTSE is massively overbought at the moment.