Only one full shopping day left until a fat man in a red suit will be heading down your chimney. I hope your all set. I have to say if you’ve left anything to the last minute I don’t envy you fighting your way through the Christmas eve crowds. I’m sure that everyone who reads this is well organised and had everything sorted weeks ago, much like I did. I wish!


On to todays trading. With the FTSE not really doing much at all today most of my positions actually did quite well and I made a new trade. My start performer today was 3I Infrastructure. Not sure why, I couldn’t find any news about it anywhere. Still as long as it’s rising I’m Happy. I forgot to mention yesterday that I was toying with the notion of exiting my Northern Foods position early. I was thinking, if the proposed merger goes ahead then I might be better to get out now. The thing is this merger is only a proposition at the moment and is not set in stone. I also read in the news yesterday that the owner of Harry Ramsdens may be planning a takeover bid which would obviously throw the proposed merger out of the water. Therefore I think I’m leaving the trade alone and moving my stop in line with my super trend strategy as was the original plan.


My new trade today is in Allied Irish bank. The share price tumbled on news that the government gained the rights to nationalise the bank. With the all time low around the 26 mark I thought it could be a worth while trade. So I’ve brought at 33 with a stop at 24. I’ll be trailing the stop at 1.5ATR on the mid price until break even then allowing the stop to widen to 3ATR.


The Regus order that I placed yesterday hasn’t executed so I will be cancelling that. There will be more opportunities along tomorrow.


I’ve started a new forum topic, well a competition really. I thought it might be a bit of fun to speculate on the price that the FTSE 100 will finish out the year. It’s open to anyone and the last entry day is the 29th of December. I’ve already made my guess and believe me it really is a guess. If you’re not a forum member you’ll have to join to take part, don’t worry it’s free. There is no prize as I can’t afford anything, but who knows if my trading goes well and this website starts to get more visitors there may be competitions just like this with prizes in the future. Hey I’m allowed to dream!


That’s all for today. I’ll post a brief entry tomorrow, probably earlier than usual but I can’t say for sure.


UPDATE: It looks like the FTSE 100 has just tipped over the 6000 mark in live trading. Not as spectacularly as I though it would but hey. I think it also went through the barrier in the futures trading last night.


Until next time,
“May the markets be with you!”
Spread betting beginner

December 23, 2010 by Harry
Category: blog
Tags: 3i Infrastructure, Allied Irish Bank, FTSE 100, Northern foods