Just when you thought it was safe to go long, boom the FTSE100 falls by 190 points. I have to say that I obviously started to get nervous at the end of last week, hence the few long positions I placed. I thought maybe the recent down move was over but now I’m not so sure. It could still turn out to be the case of a sideways movement rather than a new down trend but we can’t say for sure yet.
Obviously my two new long positions have taken a hammering over the last two trading days. I am toying with the idea to ditch them but I know if I do that it will be sods law that the markets will turn around again. At the moment it’s looking like they will be a couple of whipsaw losses because of the recent bounce in price but it’s too early to say. My only saving grace is that I still have one short position open. Henderson Group fell slightly today making me a few pounds to balance out the losses from my long positions. It’s also sods law that Aberdeen Asset management closed out last week after the upturn only to drop around 8 points today. Still onwards and upwards, we have to take the rough with the smooth.
I’m going to try and get more of a routine going with these blog posts. At the moment there a bit hap hazard and don’t occur at regular times. I’m thinking to maybe blog twice a week on a Wednesday and then again at the weekend (probably Saturday). If you have any thoughts or preference on this so let me know. After all I do write these blog entries as much for you guys as for myself. With only blogging twice a week come what may I will be trying to spend more time expanding the site. I want to add some good educational material on technical analysis. It’s going to take me a while as these thing always do but if there is anyone out there that would like to help out you are more than welcome to do so. I can offer Malcolm Pryors Second edition of his financial spread betting hand book to anyone that helps. If you’re interested get in touch and I’ll give you more information.
Ok that’s all from me. I’ll try and post again on Wednesday if not it will be the weekend and then every Wednesday and weekend after that.
Until next time,
“May the markets be with you!”
The Spread Betting Beginner
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