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

GBP Nationwide HPI m/m -0.1% 0.3% 0.0%

GBP Manufacturing PMI 49.8 48.6 48.3

FTSE 100 +0.4% at 6455.26, nudging higher after the release of better-than-expected UK data. UK PMI manufacturing figures for April come in at 49.8, an improvement on the previous month and better than forecast. Newedge says the data is good news for the UK economy as manufacturing production remained relatively weak in 1Q and some improvement is needed to maintain the recent uptrend in GDP. Reed Elsevier is off 0.5% after a broker upgrade. BP rises 1.4%, adding to Tuesday's gains after reporting 1Q results. Later, attention will be on US data in the form of ADP employment numbers and ISM manufacturing data at 1215 GMT and 1400 GMT, respectively.

Now ploughing through the indices (FTSE250) atm, looking for bargains for my redeemed cash ISA money. Amazing how many stocks are currently showing very skinny PEG figures and many are hugely into a minus figure. Lots of div yields in the 3-4% category, but many Co's have what appear to be ok PE's, but awful PEG's. Onwards & upwards!

Harry - less of the 'skinny' - post any you think of interest please :-)

Just been limited out of FTSE @6,472 for +52 - any views Shortie?

If your short 6486 should be the stop loss I think. I'm rather exposed to the DOW and DAX currently so not trading FTSE.

Thanks Shortie - I'm not in - I was long from 6,420 with a limit sell @6,472 (which has been filled) now watching and undecided.

London Stocks Push Higher In Quiet Trade 1114 GMT [Dow Jones] FTSE 100 up, extending gains in quiet trade, with the major European markets closed for May Day. Most mining stocks are in the black despite a drop in China's manufacturing PMI in April; Randgold Resources +3.7%, Antofagasta +2.2%. With no more UK data due and nothing going on in Europe, eyes turn to the US with ADP employment at 1215 GMT and ISM manufacturing at 1400 GMT. The FOMC rate announcement after the London close will also be in focus. From a technical perspective, Bill McNamara at Charles Stanley says key resistance is still at 6529, while short-term support is likely to be found around 6385.

ADP Non-Farm Employment Change 119K 154K 158K

i am not yet of a mind to short either ftse or dow and am now neutral in both .... however, those indices are worth watching carefully - especially ftse methinks - for the tide to turn negative

Whilst looking at gold, worth a read if your trading.
http://ftalphaville.ft.com/2013/05/01/1482892/gold-as-collateral-not-stock/

Greece says concludes privatisation of gambling monopoly OPAP

ATHENS | Wed May 1, 2013 4:20pm BST
(Reuters) - Greece agreed on Wednesday to sell a stake in gambling monopoly OPAP (OPAr.AT) to investment fund Emma Delta after the sole bidder for the firm raised its offer, the country's finance minister said.

"The first big privatisation in our country was successfully completed," finance minister Yannis Stournaras said in a statement, without giving further details.

--The U.S. debt ceiling, suspended in January, will take effect again later this month --Treasury can use "extraordinary measures" to stretch out its spending ability --Treasury says it will "provide greater clarity" at a later date (Recasts; adds comments from briefing) By Jeffrey Sparshott WASHINGTON--The Treasury Department said Wednesday it can keep borrowing "for a period of time" after the debt ceiling resets next month, but it didn't endorse Wall Street projections that the U.S. can stay below the borrowing limit into September. Improving finances could allow some breathing room that hasn't existed in recent years, a Treasury official said. Lawmakers in January approved a short-term suspension of the debt ceiling, allowing the government to keep paying its bills while the White House and Congress negotiate new spending and tax plans. The measure suspended the debt cap until May 18, when it will re-emerge at the level of debt on that day. U.S. debt stood at $16.719 trillion Monday. If May 19 comes without an agreement, the Treasury would have to deploy extraordinary measures--such as halting pension investments and juggling its accounts--to keep debt below that new level. In the past, the Treasury's steps have bought about $200 billion leeway, or only two to three months of additional time.

CNY HSBC Final Manufacturing PMI 50.4 50.6 50.5

China factory growth eases, adds to recovery risk

BEIJING | Thu May 2, 2013 4:35am BST
(Reuters) - China's factory-sector growth eased in April as new export orders fell for the first time this year, a private survey showed on Thursday, suggesting the euro zone recession and sluggish U.S. demand may be risks to China's economic recovery.

The final HSBC Purchasing Managers' Index (PMI) dropped to 50.4 in April from March's 51.6 and was largely in line with a flash reading last week of 50.5. Fifty divides expansion from contraction on a monthly basis.

China's official PMI on Wednesday painted a similar picture, falling to 50.6 in April from an 11-month high of 50.9 in March as new export orders fell.

Spanish Manufacturing PMI 44.7 44.6 44.2

Is HAS on your radar skinny? PE 13.46, PEG 2.50, Div Yld 6.49%, EPS & EPS growth both in +ve and possibly this is a growth sector once we start to come out of recession?

Thanks Harry, I'll have a look - it hasn't come up before when I've looked at yields - especially @6.49%.