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

hmmmmmmmm! interesting to see what variance against current spot markers this will make.....

02:44 29/06/2013 Washington

CFTC struggles to finalize rules for cross-border swaps
Despite the approaching July 12 deadline, the Commodity Futures Trading Commission is struggling to finalize a plan for regulating cross-border swaps. Unresolved questions remain, both between the CFTC and other international regulators, and within the regulatory commission itself, where several members wish to extend the deadline to give them more time to finalize guidance.

Even DP of IC can't make his mind up what to do! :
"While the DAX and FTSE remain in downtrends on their swing-charts, I am giving up on the bear case for now. I am switching to neutral on the German index, and bullish on the UK market. Sure, I have misgivings, not least of all the time of year and ongoing signs of strain in China. Rather than sit the rally out, though, my instinct is to play it in smaller size. Overall, I like the look of what’s going on over on Wall Street slightly more, and I’d be looking to get involved there too.

I continue to project weakness in GBPUSD, EURUSD and gold, and am seeking shorts.

EURUSD’s latest rally has gone a bit further than I expected, but that doesn’t change my bearish stance. I don’t see the action since 26 June as a potential bottom. Instead, I am looking for another imminent decline to and through the $1.3000 level.

DAY: I’d short a drop back through the $1.3014 level.

POSITION: Neutral."

.

FTSE looking ripe for a short...

I'm short for the second time today 6,408 closed +15 and now 6,425.

Short 6417 Skinny, just looking for a few points as also keeping an eye on the French Open...

An unexpected statement from the Bank of England's Monetary Policy Meeting on Thursday boosted stocks and weighed on the pound after the bank held policy steady. An equally dovish comment from the European Central Bank underpinned those gains. Chairing his first meeting, new Governor Mark Carney surprised analysts by including a statement with that decision, the contents of which analysts interpreted as a sign that near-term rate hikes were not on the cards. Adding to earlier gains, the FTSE 100 index soared 3% to 6,419.62, driven by resource and bank stocks. The index closed down over 1% on Wednesday, which was the biggest one-day percentage fall since June 24 amid geopolitical tensions. "In the United Kingdom, there have been further signs that a recovery is in train, although it remains weak by historical standards and a degree of slack is expected to persist for some time," the MPC said in the statement released on the Bank of England's website. The statement also floated the idea of using forward guidance at the next meeting in August. "The BoE doesn't usually release a statement alongside the rate decision but as this was Carney's first meeting in charge, they decided to make an exception," said Craig Erlam, market analyst with Alpari U.K. "The statement was definitely taken as dovish, sterling has still not recovered its earlier losses, while the FTSE is now 3% higher," he added in emailed remarks. "I would be very surprised now if we didn't see some forward guidance on interest rates at the next meeting in August." The British pound (GBPUSD) dropped 1.3% against the U.S. dollar to $1.50719, which some observers said was the biggest drop since February. Underpinning gains for London, ECB President Mario Draghi said euro-zone interest rates will remain low or go even lower for "an extended period of time" at a press conference. The central bank left key interest rates unchanged, but Draghi's comments rallied European markets and made a big dent in the euro versus the dollar (EURUSD). Heavyweight bank HSBC Holdings PLC (HBC) rose 4.5%, and Barclays PLC (BCS), which was hit by a Standard & Poor's Ratings downgrade the prior day, jumped 5%. Mining stocks did plenty of heavy lifting for the index, with BHP Billiton PLC (BHP) up 4%, Rio Tinto PLC (RIO) surging 4.5%, and Anglo American PLC rising 5%. Those gains came as metals prices eased somewhat in electronic trading. Data in the U.K. showed house prices rising to nearly a three-year high in June. Home builders such as Persimmon PLC rose over 4%, while away from the main index, Taylor Wimpey PLC soared over 6%. News of an interim president appointed in Egypt and signs that Portugal's government may survive the current crisis also sent investors back into perceived riskier assets on Thursday.

Tomorrow's newspaper headlines: "Shock as billions wiped on to share prices"

I'm running short again today, made a few points last night enough for a few fridge packs so happy with that.

a big whizz-bang day for me, as was friday in the end, but it seems i'm not allowed to mention it :-)

shorts burning again.

they've certainly taken a walloping in the last few sessions unless they were nimble and quick-witted ...... if so, they'ld have made a bundle in both directions

easily missed getting out at the top, but have just taken nice profits in both ftse and dow and gone very modestly short of both, if only on the basis that a breather is due

and got it wrong too by the looks of it at the moment ...... ah well, it would have been nice to have hung on for a much greater profit on my longs, but as i often say, no one ever went broke banking a profit and it could all easily have gone the other way - and still may of course

Think I'll play short today. 6465 looks like the initial target.

Good luck Shortie - I'm flat index wise atm.

Not much news wise until Benny speaks tomorrow evening.

Hic!

Cheers Skinny, just closed out for +12 pips profit, would have left it on but the sun is calling and its a shame to waste a nice day trading..

6,500 former resistance.

6465 or a break to the upside now??