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

I keep forgetting that the clocks have changed!!

GBP Manufacturing PMI 47.5 consensus 48.1 previous 48.1

You must have been getting up early then Skinny!

Thanks for the info, though not all that cheery

good morning mistress :-) ....... are you out frolicking today in the late autumn sunshine?

Good morning to you Cynic - no, was frolicking last night - and it's grey and dreary up here in the North!

USD ADP Non-Farm Employment Change 158K consensus 138K previous 162K

The method/calcs re the ADP figure have changed after criticism.

with the election imminent, it comes as no surprise that numbers were good, he says cynically ....... anyway, glad i took a small dow long this morning at 13108

cynic looking good @13200+!

it's pretty much there already; target remains much higher than that, but don't know timescale!

Not convinced target remains to the upside, I think the rally is overdone. Running the dollar printing press 24-7 has alot to do with the bullish behavour I think, but this can't go on forever.

i hear you, but surely even you must admit that 13,000 (12,940 actually) is proving a very strong support

Was broken back in May though, some support but wouldn't say it was strong... All this QE and the debt poition will weaken the USD and provide the resistance against a long term rally. The DOW may test 13500 again but I doubt will break it, before falling back to test the lower end of its range around 12500. I would say 12940 was more upper range support / lower range resistance or the pivotal point in the current range of trading.

have you re-opened a short then?

Standard Chartered close to U.S. settlement on Iran transactions

WASHINGTON | Thu Nov 1, 2012 11:55pm GMT

(Reuters) - Standard Chartered is close to wrapping up discussions to resolve U.S. investigations into its Iran-linked transactions and nearing agreement on a fine in the $300-million (185-million pounds) range, mirroring a much-publicized state settlement over similar allegations, according to four people familiar with the matter.

The London-based bank agreed in August to pay New York's banking regulator $340 million after that authority filed a surprise order accusing the bank of hiding some $250 billion worth of transactions with Iran.

UK economy may grow 1.1 percent in 2013 - NIESR

LONDON | Fri Nov 2, 2012 12:29am GMT

(Reuters) - Britain's economy will return to modest growth in 2013 after flatlining this year, with developments in the euro zone posing the biggest risk, a leading think-tank said on Friday.

The National Institute for Economic and Social Research (NIESR) forecast that GDP would dip this year by 0.1 percent, up from its August forecast of a 0.5 percent contraction, after surprisingly strong expansion in the third quarter.

Asia's green shoots allay global slump fears

Green shoots are sprouting across much of the Far East as stimulus begins to feed through, greatly reducing the risk of a deep global slump next year.

A slew of economic data from China and the Pacific Rim show that orders are picking up and trade is rebounding after the industrial recession of the past few months.
The Baltic Dry Index, measuring shipping rates for commodities – watched as a proxy for Chinese demand – has come back from the dead, rising 50pc since July.

I read that article too, Skinny. The headline is very optimistic but there's a caveat further down:

'Critics say the most recent phase of China’s boom was driven by loan growth, nearly 100pc of GDP over five years.

'Professor Michael Pettis, from Beijing University, said that China has surpassed the excesses of Japan’s Nikkei bubble in the 1980s. “The major difference is that Japan never took debt, investment and consumption imbalances to anywhere near the levels that China has taken them,” he said.

'Credit leaked into property spirals in east coast cities. Much went into industrial plant, pushing investment to a world record 49pc of GDP. This has left a legacy of overcapacity. Most of the country’s shipyards and solar companies are insolvent.
Mr Pettis expects China’s growth rate to halve to 4pc over the next decade as the hangover lingers. This would be a major shock to expectations.'

Toya - I was tempted to headline the 3 articles as "If, but & maybe".

Yes - that would be more appropriate I reckon Skinny :)

One IF for today though: I reckon we could see a positive movement if the US Non-Farm Payroll figures are in line with yesterday's ADP figures - and they probably will be

Must remember to sit by my computer at 12:30!

i would be surprised if the payroll numbers were not good
heaven forbid they should have been at all influenced by the imminent elections!

There have been various 'noises' circulating this morning saying as much!

Now now Cynic, mustn't be so cynical ;)