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

good morning Mistress ....... the target figure is via my guru who is usually pretty hot in these things ...... he runs GANN theory, which is far too complex and sophisticated for my syphilitic brain, but that will be from where the number(s) emanate

EUR Unemployment Rate 11.2% consensus 11.2% previous 11.1%

Well that number looks sky-high cynic! We'll all be millionnaires if the DOW reaches that

Unemployment was expected to remain much the same. Not sure if much will happen now till tomorrow evening or, certainly, Thursday afternoon

Cynic always make out things are bigger than they really are.,.

He's probably already a millionnaire.......... this is just to keep him in fine wine for the foreseeable future! ;o)

You're right guys - and he's already swimming in his fine wines by all accounts too :)

Chicago PMI 53.7 consensus 52.6 previous 52.9

USD CB Consumer Confidence 65.9 consensus 61.5 previous 62.0

Closed DOW @13,050 for now.

I ran a short short, too, and am now going to sit by until we hear from the Fed tomorrow.

Looks like I was a bit quick on the PMI & confidence figures - good luck Toya.

Thanks Skinny.

The market looks to have turned rather pessimistic this afternoon. Gold is down. And Brent Crude is way down!

... although now starting to perk up again

I've had another stab @13,068.

I couldn't resist either :)

That was a lovely run up to 13079 and I've cashed in my profits. I'm going to go and play now!

I'm staying long, with a stop at 13000.... ever the optomist

I'm staying short :-)

Monti sees light in euro tunnel, but ECB hopes dim

OME/FRANKFURT | Tue Jul 31, 2012 3:20pm BST

(Reuters) - Italian Prime Minister Mario Monti said on Tuesday that Europe was starting to see light at the end of the tunnel of the euro zone's sovereign debt crisis, belying a welter of deteriorating economic data.

Recession, Libor, Facebook pummel Europe's banks

ZURICH/LONDON | Tue Jul 31, 2012 1:31pm BST

(Reuters) - As if things weren't bad enough, one of Europe's banks took another knock on the chin on Tuesday from its role in Facebook's botched stock market flotation.

don't confuse target and immediate likelihood ..... nothing goes up or down in a straight line ..... nevertheless 13005 looks to have been a very good call at which to enter

Good game.... good game.. as Brucie used to say. Forget analysis I'm sticking to the Forsyth method.