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

We're doomed! McDonald's monthly sales fall for first time in nine years

For the first time since April 2003, monthly sales at McDonald’s Corp. went down instead of up, falling 1.8% in October at stores open more than a year.

The fast-food giant known for innovating its way through the recession while competitors lagged has lately lost some of its momentum. Last month, the company said its profit for the third quarter tumbled nearly 4% amid a stronger dollar and brutal U.S. competition after sliding 4.5% in the prior quarter.

In October, sales were down across the world. Revenue tanked 2.2% in both the U.S. and in Europe while slipping 2.4% in the Asia Pacific, Middle East and Africa regions.

The poor figures “reflect the pervasive challenges of today’s global marketplace,” said Don Thompson, who became chief executive in July.

or perhaps the public is waking up to what a really rather nasty product it actually is!

http://money.howstuffworks.com/mcdonalds.htm Their really in the Real Estate business anyway.

Hmm, it's looking like that 5%+ 'correction' is well on its way... I've taken to shorting the DAX today for a change

CNY CPI y/y 1.7% consensus 1.9% previous 1.9%

China inflation rate dips to 1.7%

China's inflation rate dipped further in October, giving more room to policymakers to implement stimulus measures to spur growth.

Consumer prices rose 1.7% from a year earlier, the slowest pace since January 2010.

China congress: Hu Jintao says reforms to deepen

China's President Hu Jintao has said the country will deepen its economic reforms and boost domestic demand to spur a new wave of growth.

Opening the Communist Party congress, Mr Hu added that China needed to work towards a more "market-based" exchange rate for the yuan.

China has been trying to boost domestic consumption to offset a decline in exports.

Shortie - 07 Nov 2012 15:53 - 9466 of 9503
Thanks Skinny, so as the chart shows today the DOW is testing 13020 support after yesterday testing and falling back against 13280 resistance. If the current support breaks I see next support at 12760 being the mid point of the July range, how much support will be at this range is another question. Also note the DMA crosses, 20DMA is about to cross down the DMA100 confirming the downtrend, a close below 13000 the phychological level should see a fall to 12760 support. IMO anyway

We'll test 12760 support from the off today, indicators suggest a short play currently..

If it breaks 12540 will be next support, being the lower end of the July range...

I reckon the same , Shortie. I think we're heading back to 12540 on the DOW

That could mean the FTSE also dropping down to 5450

i also got out dow first thing and went short

http://rt16.it-finance.com/FinSpreadsFlash/showimage.phtml?id=90a701f90a59f85830250134a9d60c5c1b1d5e03981d140336451611e8a390b8&type=png

Heres the technicals if anyone can turn into a picture.... Not convinced yet to short today, anyway the above shows the next 12540 support line if your interested. Note the green diagonal line (upwards trend) plotted off end of June/July lows, causing me some concern. I'm waiting for a break below to confirm a short trade.

appl appear good buy

Noting the short trade on Wall St not confirmed. Shame no Skinny today to make a chart out of the above/below links. Below two hour chart (link below) shows the bounce off the other trend line I was concerned about.

http://rt8.it-finance.com/FinSpreadsFlash/showimage.phtml?id=36e87ab6e2fb1ed387edfaf3a872ffd03164b3472f388cc4e87c82fec03f5e40&type=png

Thanks Skinny, I don't know why I can't do that, every time I try I get an embossed box with a red cross in it. Not a techy person with these things, at least though others on this thread will now be able to see what I'm rambelling on about.

I'm looking for long play indicators, can't seam to find any confirmed direction today though.

Thanks for the charts chaps.

My shorts worked wonders earlier today, but I've since reversed:

Obama is making a Speech tonight (18:05 our time I think) - and knowing the effect politicians can have on the markets, I'm sure he will say something positive to reassure that he will work with the Republicans to tackle the Fiscal Cliff. What else could he say?? So I expect the market to recoup some of its losses today... (of course, I could be proved quite wrong)

Where do you find all these cartoons Skinny! Lol :)))

Toya - we skate on the surface of a very deep pool of data!

I can hear a pint calling me :-)

Yeah - like skating on thin ice!

i too have switched and switched about with both dow and aapl ...... now fingers x-ed, but i would not be at all surprised to see a very strong finish tonight as short positions are closed ahead of w/e