Well I thought I’d write a summary of my week. Not that much to report. There have been no new trades only moving stops. I have placed one new order this week and I have placed a time limit of 2 weeks for the order to execute. The order is for Trinity Mirror. It’s a £2 per point buy order at 65 with a stop set at 60. There is a potential support zone around the 65 mark so I thought I’d place an order. Will it work out, or even execute, who knows!
I’ve been keeping my eye on persimmon over the last few weeks. I thought, and still do, that it may be heading back to the price I originally brought in at 340. It seems to have bounced today, probably buoyed by the news that house prices rose 0.8% in in January. I suspect this good news may be short lived so I’ll be keeping my eye on Persimmon. If it seems that it’s heading back to 340 I think it could be a good buy. Now I’ve said that the share price will probably just keep on rising and rising.
The more regular readers of you may have noticed that I’ve added a couple of new sections to the site. They are spread betting reviews and Compare Spread Betting Companies. As the names suggest you can now review your spread betting company and also compare spread betting companies against each other. There aren’t many reviews yet, I’ve added a few for the companies that I trade with but I don’t trade with all of them so I can’t review them. If you have a spare 5 mins please add a review of your spread betting company. Good or Bad it could potentially help someone else out a lot when it comes to picking a new spread betting company. I’m still waiting on some info from some of the spread betting companies so the comparison table is not complete yet but I should have the info shortly so keep checking.
If you do take a look at the reviews &/or comparison table please let me know if you think it could be improved for the better. If you think there is something missing from the comparison table again please let me know and I’ll do my best to get it added.
The FTSE is really confusing me at the moment and I don’t know what to think. I’m not convinced that it will continue nicely upwards past 6000. I’ve been re-reading Technical analysis explained by Pring and in there he suggests a trough to trough market cycle lasts approximately 4 years and a primary trend lasts from 9 months to 2 years. Well if that’s true then it would mean that the recent primary uptrend which has been in force since March 2009 could be about to come to an end. Will that be the case? I have no idea! I am a little cautious though. I guess I’ll just be keeping an eye for now, because I’m the same as everyone else and I cannot predict where the markets are going. As Tony Loton put it the only thing we know about the markets is that they will fluctuate.
That’s all for this week. Hopefully I will resume to a more regular update soon.
Have a great weekend everyone.
Until next time,
“May the markets be with you!”
Harry,
The Spread Betting Beginner
