You may or may not have noticed my forum post earlier today. If you did see the news about Northern foods I’m still not sure what will happen. I suspect I will be traded out of the position and that will be that. I’m not sure when this will happen, I suspect my spread betting firm, CMC markets, will e-mail me at some point. Then again maybe not. Knowing what happened with another spread betting firm when a company went through a rights issue I was traded out and that was that.
If any one does know what happens in this circumstance please post a reply over on the forum. Thanks!
You may recall I mentioned yesterday that most of the possible super trend cross overs were short opportunities. Well I haven’t placed a new trade, Yet anyway! I haven’t had that much time to look at the charts more closely and I’d rather not rush into anything like Spread Betting Trader did the other day. I should have a little time tonight so I may take more of a look then.
Back on the Northern foods merger news. I think it’s quite funny that I tried to start a rumour about a 3i Infrastructure the other day and it turns out a similar thing was going on for Northern foods. Maybe I should try and start rumours for all the spread bets I currently have open. Don’t laugh, It might work!
My pyramids seem to be holding up so far. F&C asset management has just moved into profit today while Debenhams is showing a slight loss. I took the opportunity to move my stop on 3i Infrastructure in line with the super trend stop. It now stands at just under breakeven, that is of course assuming no slippage occurs. I think that’s about all from me for today.
Oh actually one last thing. Thanks to BigAl for his continued posts about his trading over on the forum. BigAl has kindly agreed to share his spread betting trades with us all and you can view them here. If you have any questions about his trades please post them as a reply to one of his entries in his trading diary
Until next time,
“May the markets be with you!”
Spread betting beginner