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

USD Capacity Utilization Rate 79.6% consensus 79.4% previous 79.2%

USD Industrial Production m/m 0.7% consensus 0.4% previous 0.0%

Back in FTSE at 6498 short with 6500 as SL for now

SL now6492

USD Prelim UoM Consumer Sentiment 71.8 consensus 78.2 previous 77.6

USD Prelim UoM Inflation Expectations 3.3% previous 3.3%

Wall St 1hr, hopefully 14470 will be taken out to leave 14411 support...

SL now 6477 - I am liking this but a mistake to have ignored gold

stopped out for a nice profit at 6477

Good trading today, 2 decent profits taken no losses so far.

14497 short again

Lets see how long the channel lasts...

IMF tells EU to act boldly and fix the banks

LONDON | Fri Mar 15, 2013 4:07pm GMT

(Reuters) - The European Union must be bold in putting its banks on a stabler footing, starting with a tougher health check for lenders this year, the International Monetary Fund said.

The Washington-based watchdog said in its first ever formal study of the EU financial sector as a whole that the bloc had made significant progress but more was needed because financial stability remains fragile.

announcement that cypriot authorities are going to "confiscate" 10% of all bank deposits over e100,000 and 6.75% of deposits < e100,000 may well upset markets on monday especially in Spain and Portugal.

Well the move does kind of cross a financial rubicon, but I suspect the market may well ultimately like it as it certainly goes a long way to solving a problem which didn't look like going away any time soon. It's also a non-discretionary tax which doesn't affect consumer choices.

Somehow, I doubt the Russian money launderers who are alleged to have deposited all their washed money into Cypriot banks will be too chuffed about it though. :o)

It certainly would have been better to be a borrower in Cyprus rather than a depositor, we hope George doesn't find out this is a great way to pay off his deficit! It might be a good idea to clear more space under the bed.

Or fully invest all of it in equities. Saver rates are so poor at the moment in the UK that, apart from Cash ISA's, any other form of investment seems a good idea. Mr C is into fine wines, though he seems to be drinking more than he lays up, but another way to get a better return if you know what you are doing!

MrC has the problem of too much fine wine now getting too mature ..... i know i could sell a much of it and get good money, but i'ld hate to do that as among other things, i know i could not afford to replace with such quality :-(

btw, i think buying fine wine as an investment is not only risky, but also likely to be a major con trick .....for example

i prob paid £5/600 c/s for 1985 margaux en primeur ..... that would have been bought prob in 1987, so i've held for 15 years ..... i can now get say £3250 c/s for it ...... that's not too terrible on the face of it, but then i haven't paid any "investment adviser at either/both end of the transaction) nor storage (i have it at home in a cellar) and i'ld sell it through farr vintners who only charge 10% commission .... already £3250 has become £2900

Cynic - I make that 26 years.

Apparently Osborrne will compensate troops and government workers.

China's new premier pledges reform, sees risks

BEIJING | Sun Mar 17, 2013 6:37am GMT

(Reuters) - Chinese Premier Li Keqiang said on Sunday ensuring economic growth was the top priority for his government, pledging to fight graft, tackle vested interests and calling for an end to a cyber-hacking row with the United States.

Li's first news conference as premier, at the close of the annual meeting of China's rubber-stamp parliament that confirmed his appointment, covered topics that have been the principal focus of recent government rhetoric, with a strong emphasis on the necessity of reform to deliver long-term economic stability.

hmmmm!

Exiting swaps trades is difficult under rules.......
A migration to swaps-execution facilities, as mandated by the Dodd-Frank Act, has made ending trades in less actively traded swaps more difficult, as traders are no longer able to negotiate directly with dealers, according to AllianceBernstein. "A lot of real-money, buy-side trading practices have been ignored in this process," Senior Vice President James Wallin said.

skinny do you believe in flying pigs or white elephants?