Well what a day for the FTSE 100 index. Up around 125 points. You would think that this might make my feel bullish about the FTSE but I’m still not convinced. Although todays rally is a good show of strength will it have enough momentum to carry in through the 6100 barrier which it has so far failed to surpass. As always the FTSE can, and will, go where ever it likes. I can only guess what I think might happen. All I know is I’ll be keeping a close eye on things over the next few days/weeks to see if it has enough drive to break the current resistance barrier.
Todays Spread Betting Action
On to my spread betting action. No new trades today. I’ve not had the time to dedicate to looking for potential trades. Plus with the FTSE in a nice sideways trend at the moment it’s difficult to try and pick stocks that could potentially be about to trend. I’ve got a fairly good mix of longs an shorts at the moment which is the best strategy I can come up with to trade a sideways market.
On a side note to trading I noticed that SpreadCo offer volume on their charts. I mention it because it’s the first time I’ve seen a spread betting company offer volume as part of their standard charting package. So far I’m reasonably with the charts from SpreadCo. It’s still early days and certainly too soon to review but I’ll be doing it in a few weeks.
Regular visitors may have noticed I’ve added a subscribe form at the top left of the page. The idea is you can subscribe to a monthly Spread Betting Beginner news letter. I’m currently working on a free E-book (well more of a short pdf but hey) which you will receive if you subscribe. It’s not quite ready yet but if you subscribe now I’ll send you a link to the E-book when it’s ready for download.
Until next time,
“May the markets be with you!”
Harry,
The Spread Betting Beginner
