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

Thanks for the pix Skinny!

Cynic: I resisted the obvious knee-jerk reaction to sell at a loss; I'm sitting tight currently.

BB: dream on :)

From Reuters:

'Traders were doubtful as to the sustainability of any meaningful gains.

"What we’ve averted here is the likelihood of a Greek default in the short term. I don’t think it’s taken it off the table in the long term," Michael Hewson, senior markets analyst at CMC Markets, said.

"We’re still in the broad range in European markets and I don’t think this really changes anything with respect to that ... The outlook for growth in Europe still remains fairly weak." '

buttocks clenched Luscious? :-)

:-)))

Markets not exactly roaring ahead on the news

GBP Revised GDP q/q 1.0% consensus 1.0% previous 1.0%

GBP Prelim Business Investment q/q 3.7% consensus 1.3% previous 0.9%

GBP Index of Services 3m/3m 1.3% consensus -1.0% previous 0.2%

FTSE 5807.5 gone short

Position closed at 5804.5.

FTSE 5805 gone short, increased stake

2 pints a point? :-)

Pints are expensive down here in the South

I know! :-(

Big Loss taken on FOGL today

Where next?

Testing 50DMA at the moment, I'm thinking lower but you never know if it manages to break it.

USD Core Durable Goods Orders m/m 1.5% consensus -0.6% previous 2.0%

USD Durable Goods Orders m/m 0.0% consensus -0.6% previous 9.8%

CAD Corporate Profits q/q 3.7% previous -4.9%

Don't forget Bennie is speaking now.

I'm rather sore at the moment having had 25% of my portfolio knocked out. On the positive side side though these losses in FOGL and Rockhopper have now been realised and have freed up some margin. 1 position left on FOGL now.

Mulling over a position on Wall St for this afternoon..

Thanks for reminding us of Bennie - I had forgotten!

Sorry to hear that Shortie - although that seems quite a high percentage to have in 2 stocks.

Bernanke Welcomes Students Competing in Economics Contest

Federal Reserve Chairman Ben S. Bernanke welcomed college students to an annual competition the central bank hosts where teams from five different schools will give presentations on monetary policy.

Bernanke did not discuss the outlook for monetary policy or the economy in his remarks. Speaking in Washington, Bernanke said he will “be looking forward to the solutions that these groups come up with.”

USD CB Consumer Confidence 73.7 consensus 73.1 previous 72.2