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

12540 July and end June lows look like the next test for the DOW if it doesn't pull back later tonight.

rather agree, and also to wait and see ...... so much volatility without any good reason

Just taken +20 from that bounce - but it looks to be weakening again.

It's all about the Fiscal Cliff - and Ireckon the weakness will continue until that is resolved, according to various reports I've been reading.

I did set up another short earlier but cashed it in much too soon!

LOL - thanks SKINNY :)))

Set up another short FTSE from 5740 - and really lucky cos it's just spiked up there to fill it!

The fiscal cliff is the immediate concern followed by the debt ceiling in Jan. If congress allows the cuts in the budget act to kick in it will halve the deficit but still leave more than $500 bil being added to US debt every year. With US debt currently at $16.4 trillion a debt ceiling stand off at the current rate will come by Jan.

http://rt8.it-finance.com/FinSpreadsFlash/showimage.phtml?id=49e743641e90ea4d91220020861fa318c4b97862d62472cd29978ed9cfdd45a5&type=png

Channel support, we'll see, expect it to be broken.

"The fiscal cliff"? Bound to be a fudge of some kind before now and Jan so shouldn't worry to much IMHO, Not that I have a clue as to what that fudge will be I might add.

Apart from the Fiscal Cliff (which I agree will certainly be fudged somehow in the end) there is also the Middle East now to consider - and I wouldn't think today's Euroland strikes will inspire much confidence State-side either.

The price of oil has jumped today apparently and "is making markets jittery"...

a seriously nasty day ..... very glad i am not over-exposed (especially if it gets frosty!)
now let's see if shortie's 12540 is going to give decent support

on an approx opening level of 5685 (FTSE) who is taking a stand in either direction as to where it will close?

ditto for Dow - cash level currently 12595 which is +25 on last night's close

my guess is that both will be ahead purely because falls, like rises, can be too far and too fast, but i doubt i shall marry money with mouth

Tricky one. I've re-set a short FTSE at 5740, having closed it yesterday at 5700 :( I may end up editing that down though - it's now looking rather optimistic.

In the US, "all 200-day moving averages have now been breached". Not sure where I would set a short for the DOW - will have a think. But wherever you choose, I reckon we are in a downward trend and so would go short rather than long.

EUR French Prelim GDP q/q 0.2% consensus 0.0% previous -0.1%

EUR German Prelim GDP q/q 0.2% consensus 0.1% previous 0.3%

Thanks Skinny.

Interesting article on MarketWatch.com:
Sell uncertainty, buy the grand bargain

Ah good - I've managed to get it to open in a separate window!

indeed an interesting article .... shall try to follow the old adage of if in doubt, do nowt

Interesting link - thanks Toya :-

"As I wrote last week, a quick deal doesn’t seem likely, and if the two sound combative after their meeting Friday, the market is going to get punished again next week."