Well I’m back. Not much has happened while I was away. Most of my positions have risen slightly but nothing major. I think about half of them are showing a profit now some more than others. F&C is doing the best currently around £12 in profit. Not much but when you consider the initial risk was only £6 it currently gives a 2:1 reward to risk. I’m not going to close the position. It is a super trend cross over buy and I will keep it open until the super trend tells me otherwise.
I have placed a new order today. I have set a buy for persimmon at 341 with a stop at 331. This is a support buy. I think there is a support zone around 341 and 331 is comfortably below this level. With price having recently topped out at 415 this could mean a potential 74 points profit. Will it happen? Will my trade even execute? Who knows but I think it’s worth the risk.
You may remember I placed an order to buy bank or Ireland at 44 before I left. Well this order never executed. The price fell to around 53 and has since risen slightly. Will the price fall back? Well it could but then again it could carry on rising. I will leave this order open for a few more days/weeks and keep my eye on the price to see what happens. If price continues to rise I will cancel the order.
I guess the most notable thing to have happened while I’ve been away is the FTSE 100 passing 5600. Will it continue to rise? Well I suspect it’s too early to tell and I would think Mr. Osbornes words later this month will have some effect on where the price goes.
It’s a short post from me today as I have loads to do at work, it’s always busy for a few days after I’ve been away. I wish there was someone that would do all my work for me while I go away but unfortunately it never seems to happen.
Until next time
“May the markets be with you”
Spread Betting Beginner