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

Also have a look at this - http://www.telegraph.co.uk/finance/debt-crisis-live/9130112/Debt-crisis-and-Greek-default-deadline-live.html

It will go through, I don't believe there will be a disorderly default imminently. Ashraf Laidi said about 1/2 an hour ago that the participation rate is currently 77-79%.

Roughly, as I understand it, over 90% "voluntary" participation of private bond holders is what they want (I've also seen 95% mentioned). Less than 75% meant the debt swap would not be possible, Greece would not get the bailout and would almost certainly default in a messy way. In the middle ground (where it is at the moment) the debt swap can still go ahead, it can be imposed on bond holders, but that it still may be considered a "credit event" and therefore trigger CDS payments. Some bond holders (e.g. hedge funds) will not be agreeing to the debt swap.

Greece confirms debt swap deal success

The Greek government has confirmed that it has secured sufficient backing for a debt swap deal that will enable it to avoid defaulting on its debts.

The Hellenic Republic Ministry of Finance said that 85.8% of private bondholders had agreed to the plan.

Athens needed to get 75% agreement to be able to push through the deal.

It needs the debt swap so it can get access to a second bailout from the European Union, European Central Bank and International Monetary Fund.

Draghi Says Inflation to Exceed 2% in 2012

European Central Bank President Mario Draghi said inflation will probably breach the bank’s 2 percent limit this year and signaled the worst of the sovereign debt crisis may be over even as the economy stalls.
“Inflation rates are now likely to stay above 2 percent in 2012, with upside risks prevailing,” Draghi said in Frankfurt today after the ECB kept its benchmark interest rate at a record-low 1 percent. While risks to the economic outlook remain on the downside, “the risk environment has improved enormously,” he said. “We see many signs of returning confidence in the euro.”

85% bonds tendered they say so that would be 15% are not to me or some 25bil, so i believe these are fund managers who now will sue greece for par recoveries and i believe trigger cds. this is what they mean to look at at 1pm to determine i believe..

US Non-Farm Employment Change 227k v consensus 209K previous 243k

Some of the indexes are close to breaking up.
Low risk and 13000 for dow should help a lot.
US banks are up 1.5%, UK banks are negative yet!

Are we there yet!

Mario @11:30.

USD Core Retail Sales m/m 0.9 v consensus 0.8% previous 0.7%

USD Retail Sales m/m 1.1 v consensus 1.1% previous 0.4%

dow steams through 13000

yup; maybe .... i'm watching carefully

dow up 100+ will it hold?

don't know boss :-( ..... or do i mean :-)

cynic you may have to replace your burnt shorts!

maybe .... it's not huge exposure and shall leave it for now

Just for a change the FTSE is under performing the DOW - particularly since November.

having broken 13125 with some impetus, dow is now likely to keep going north, but a bit early to bet yet - i think .... anyway, my shorts are closed out for no enormous damage, and easily offset by my other long positions

Just had a small short @13,140.

GB Claimant Count Change 7.2k v consensus 6.5K previous 6.9K


GB Unemployment Rate 8.4% v consensus 8.4% previous 8.4%

JP Morgan thumb their nose at the Fed about time our banks did the same to the BOE/FSA.