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

as i shall not be at my screen for most of today, and with a view that it's all looking a bit frothy, i have just banked some very nice profits in longs of ftse, dow and hg+hc ...... that still leaves me with more than adequate exposure in individual stocks

i think i may have another look at AAPL later

Still short on the FTSE and DOW.

Eyes also on AAPL

10:33am German 30-y Bond Auction 2.16|1.5 2.45|1.8

Analysis - ECB poised to cut rates to help recession-hit euro zone

(Reuters) - The European Central Bank is closer to lowering interest rates than at any time since it last cut them in July 2012 and is likely to shave a quarter-point off at its policy meeting next week.

Senior sources involved in the deliberations say momentum is building for action to help a euro zone economy which has slipped back into recession, a move that some policymakers wanted to take earlier this year.

GBP CBI Realized Sales -1 7 0

Yesterday's plunge was automated trading reacting to that tweet - more an illustration of how automated the market has become.

4HR FTSE

FTSE closed, short Wall St and Dax.

USD Core Durable Goods Orders m/m -1.4% 0.5% -0.7%

USD Durable Goods Orders m/m -5.7% -2.9% 5.6%

Floss,

Re the post about automated trading, I had to chuckle. I've been working recently on a fast automated scalping system for a private client in HK.

Here's what it did on the 1-minute GBP/JPY in reaction to the Obama twit tweet:



And the EUR/JPY and USD/JPY charts look pretty much the same too.

I thought this description of the scalp trader quite amusing and probably rules out most of us!!! ;o)
"The returns generated in each position opened by the scalper is usually small; but great profits are made as gains from each closed small position are combined. Scalpers do not like to take large risks, which means that they are willing to forgo great profit opportunities in return for the safety of small, but frequent gains. Consequently, the scalper needs to be a patient, diligent individual who is willing to wait as the fruits of his labors translate to great profits over time. An impulsive, excited character who seeks instant gratification and aims to “make it big” with each consecutive trade is unlikely to achieve anything but frustration while using this strategy."!!!

http://www.dailymail.co.uk/money/investing/article-2313671/Fears-triple-dip-recession-reverse-stock-markets-soaring-start-year.html

Harry,

Scalping is one of the primary reasons that 95% of traders lose. It's not that there's anything wrong with scalping as such - it's actually that scalpers generally don't have the discipline, they don't have the technology and they are incapable of bearing the required emotional burden.

For a scalping system to work, it's also imperative that traders are able to deal inside the spread and that there are no execution (slippage/requotes) or latency delays (bad connection) whatsoever. This rules out 100% of spread betting firms.

Just an idea if 7783 doesn't get broken of where it might go.

Nice arrers Hils! On the subject of scalping, I still have that stuff Ruthie posted about her & her brother scalping the FTSE and creaming it - but it was all highly disciplined, not the sort of stuff you can do all day every day and keep sane.

I for one was glad of the Twitter post. :-) Tell Ruth Iain says hello

BOJ's new price forecasts Friday to be credibility test

TOKYO | Thu Apr 25, 2013 1:46am BST
(Reuters) - The Bank of Japan is set on Friday to project that it will meet its 2 percent inflation target in two years, a forecast analysts say may be too optimistic and could put the bank's credibility on the line.

Exclusive - Verizon eyes roughly $100 billion bid for Verizon Wireless stake

NEW YORK | Thu Apr 25, 2013 4:08am BST

(Reuters) - Verizon Communications Inc has hired advisers to prepare a possible $100 billion (65 billion pounds) cash and stock bid to take full control of Verizon Wireless from joint venture partner Vodafone Group Plc, two people familiar with the matter said on Wednesday.

South Korea economic growth hits two-year high

South Korea's growth rate hit a two-year high in the first three months of the year, boosted by a rebound in construction, investment and exports.

The economy grew by 0.9% in the January to March quarter from the previous three months, the central bank's estimates showed.

The data is likely to help allay fears over the health of the Korean economy.

EUR Spanish Unemployment Rate 27.2% 26.5% 26.0%

Just been filled short @6,464!!