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

In case you missed it:-

GBP Construction PMI 50.9 consensus 49.1 previous 49.5

Thanks Skinny - just seen your lovely cartoon lol :)

Should have put the short on the DOW rather than waiting... Goes to show though consideing the jobs numbers that the sp is based more on optimism than any real sustainable recovery.

I suppose with all the uncertainty about the Election next week, the DOW could travel back to rest around 13030 again, Shortie.

Wouldn't surprise me Toya, might give the indicies a miss next week and just play stocks and currencies. The Yen looks set to test 129.5 so maybe a longer term position will emerge.

hmmmmm :-)))
05:41 02/11/2012
EU short-selling rules create confusion, experts say
Traders, brokers and other market participants are criticizing regulatory guidance on pan-EU rules governing short selling, saying it has left the market confused and unprepared. "There isn't total clarity on how that market-making exemption will work," said Richard Metcalfe of ISDA. "There is still debate about what actually constitutes market making and whether that has to be a frequent activity. That shouldn't be the case." Meanwhile, exchange-traded government-bond futures not covered by new rules are opening a way for traders to effectively short government debt, essentially sidestepping the rule.
indeed!!

.

EUR Sentix Investor Confidence -18.8 consensus -20.7 previous -22.2

GBP Services PMI 50.6 consensus 22.0 previous 52.2

Shortie - 30 Oct 2012 09:44 - 9290 of 9392
There should be some support for Apple just above 600 (where it currently is) if this breaks 575 should provide support.

Looks like it'll test 575 support today..... If it breaks then worth a short on the next leg down.

not looking very chirpy is it

No its not, the old rule of thumb sell at 2% yield and 22 times earnings starts to spring to mind...

i think it's only about 14 p/e and divis are a new venture for AAPL

Yes I have P/E 13.1 and yield @1.8%.

I'm thinking a PE of 12 would be about right, EPS 44 so sp at 528. Nothing to support future higher earnings I feel but a fair risk that market share will be lost to competitors moving forward. Changes to the board also haven't inspired any confidence.

CAD Building Permits m/m -13.2% consensus -2.6% previous 9.5%

Noted, the Oct manufacturing PMI was also a shocker 47.5 v's 48.5 and 48.1 in Sept. Q3 GDP therefore looks like a blip as companies receive fewer order and costs rise sharply. This is the sixth sonsecutive sub-50 reading and we've seen Sterling slide on the news. This makes good odds that another round of QE in on the cards for the MPC this week. Also Nationwide house prices rose in Oct 0.6% boosted by Funding for Lending scheme but are off -0.9 y/y with light activity levels.

USD ISM Non-Manufacturing PMI 54.2 consensus 54.6 previous 55.1

Apple v Google: US judge dismisses patent lawsuit

A US judge has dismissed Apple's case in which it alleged that Google's Motorola unit was seeking excessive royalty payments for patents.

Motorola has sought 2.25% of the price of Apple products that use some of its patents, which Apple said was too high.

Apple Said to Be Exploring Switch From Intel for Mac

Apple Inc. (AAPL) is exploring ways to replace Intel Corp. (INTC) processors in its Mac personal computers with a version of the chip technology it uses in the iPhone and iPad, according to people familiar with the company’s research.

Apple engineers have grown confident that the chip designs used for its mobile devices will one day be powerful enough to run its desktops and laptops, said three people with knowledge of the work, who asked to remain anonymous because the plans are confidential. Apple began using Intel chips for Macs in 2005.

GBP Halifax HPI m/m -0.7% consensus 0.5% previous -0.4%

EUR Spanish Services PMI 41.2 previous 40.2

EUR Italian Services PMI 46.0 previous 44.5

GBP Manufacturing Production m/m 0.1% consensus 0.3% previous -1.1%

GBP Industrial Production m/m -1.7% consensus -0.6% previous -0.5%