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

I'm going to stay out of the FTSE for now and let it do its own thing, as per Skinny's lovely cartoon - and maybe look for an opportunity to go long on a Tuesday!

7 am.

German Prelim GDP q/q -0.6% consensus -0.5% previous 0.2%

7.45am

French Prelim Non-Farm Payrolls q/q -0.2% consensus -0.2% previous -0.3%

happy valentine's Mistress! :-))

amazing! .... HG+HC and C+M indices still roaring

Dominic Picarda of IC again this morning:
"Once again, the DAX and FTSE confounded the bears yesterday, advancing strongly. The FTSE’s progress was entirely expected from where I was standing. But I am not surprised to see the DAX joining in, as I had been arguing that it would play catch-up sooner or later.

Nevertheless, scepticism abounds over the outlook for both indices. IG Index clients are 71% short of the DAX this morning, and 88% short of the FTSE. I just can’t understand the case for this, going by the state of the daily and intraday charts, both of which point to yet more gains. I am therefore looking for longs in these indices, as well as in EURGBP. I still seek GBPUSD shorts, which dropped yesterday in line with my call."

Italian Prelim GDP q/q -0.9% consensus -0.5% previous -0.2%

NMX3720 has been largely helped by RB. over the last few days.

EUR Flash GDP q/q -0.6% consensus -0.4% previous -0.1%

Thanx Cynic :)

NMX3720 now 100 off its earlier high - again mainly due to RB which is 63 off its earlier high.

Nearly recovered yesterdays losses on the FTSE, have S&P shorts in play also..

like i said previously, both of these indices are scarily volatile ...... meanwhile my Dow short from last night is now doing what it was meant to do :-)

USD Unemployment Claims 341K consensus 361K previous 366K

Shortie - if you are about, any chance of a FTSE chart?

Currency wars come to Moscow as G20 spars over yen

MOSCOW | Fri Feb 15, 2013 6:09am GMT

(Reuters) - It may not be hand-to-hand combat, but 'currency wars' came to Moscow on Friday as finance officials from the Group of 20 nations sparred over Japan's expansive policies that have driven down the value of the yen.

The G20 forum, which put together a huge financial backstop to halt a market meltdown in 2009, is back in the spotlight after a week in which the Group of Seven rich nations tried, and spectacularly failed, to speak on currencies with one voice.

Muto leads as Japan PM close to choosing nominee for Bank of Japan chief

TOKYO | Fri Feb 15, 2013 4:43am GMT

(Reuters) - Japanese Prime Minister Shinzo Abe is close to selecting his nominee for central bank governor and Toshiro Muto is the leading candidate in a honed down list of names, sources close to the process told Reuters.

If confirmed, the choice of Muto, 69, would suggest the Bank of Japan would step up its monetary stimulus to reflate the economy but probably refrain from some radical steps advocated by other candidates that could unsettle financial markets and risk heightening tensions with Group of 20 nations.

JPY Revised Industrial Production m/m 2.4% consensus 2.5% previous 2.5%

EUR Italian Trade Balance 2.16B consensus 2.22B previous 2.36B

GBP Retail Sales m/m -0.6% consensus 0.5% previous -0.1%

I expect the markets will spin those figures into a positive!

15 Minute FTSE Chart