I had an e-mail from CMC Markets today to notify me that as of 27th April 2011 they will no longer be supporting their market maker web platform. The Market maker desktop and mobile platforms will still be a available. I’m sure at some point they will discontinue these too but I don’t know when this might happen. I still have one open position in my Market Maker account with Northern Foods. It’s currently trading very close to its stop level and has been for some time now. I know there were merger talks but I’m not sure how all that ended up. Still for the sake of the extra 0.63pts I make by closing my position now I think it’s worth while leaving it open in case a sudden surge of price action occurs. If it does hopefully it will be in my favour as it’s not a guaranteed stop on this position. I wonder if CMC Markets will start to offer guaranteed stops? You would think from a financial stand point it would make sense as I’m sure 9 times out of 10 they make money on the guaranteed stops. If they did I may be inclined to trade more with them. Still that’s for that powers that be at CMC Markets to decide.
Other than that it’s all quiet here. I’m adjusting stops as necessary but I haven’t had much time of late to check for new trades. With the FTSE approaching the most recent resistance level of 6100 I’m still a little cautious. Will it touch this level before retreating, Will it surge past it, or will it bounce around it for a while? Who knows, I wish I did but I don’t. Actually there was some spread betting action today. My Vodafone position stopped out at a loss. A £10.67 loss to be precise.
Until next time,
“May the markets be with you!”
The Spread Betting Beginner