I have a bit of a confession to make. I’ve kind of taken my eye off my trades this past few days. With updating the site, work family etc my spread betting has been neglected. Fortunately it’s turned out ok so far but it could’ve easily been much worse and still could get worse. It’s something that I need to sort out for myself. I think I need to give more time to my spread betting and update the site when I get the time. Don’t worry I’ll still be blogging regularly but adding more to the rest of the site might take a bit of a back seat for now.
So what has happened. I have a new position in Persimmon. I thought I’d posted previously that I placed a buy order at 340 with a stop at 330, but I can’t seem to find it. Anyway I placed the order and it executed on the 23rd of November. I checked the charts today and the super trend value is 337.06 so I’ve moved my stop to 336. So I currently have a £4 risk on this position. It’s a support buy, pretty much the same as I did previously. If I had been checking the charts properly recently I would’ve also seen that It came close to the super trend level which is also a buy signal for me. Anyway so far it’s turned out ok. I think it’s currently £17 in profit but I have an open risk of £4 and I will trail the stop based on the super trend value. Here’s hoping price recovers to its 2007 high of around 1500 a share. Not very likely but hey, you never know.
Other than that I think the rest are taking care of themselves. My pyramids are holding up so far and I’m hoping before too long I’ll be moving stops on them to start locking in profit.
I’m actually quite surprised that most of my positions have held up today considering the FTSE has tanked nearly 100 points so far today. Maybe I’ve spoken too soon. I hope not!
Oh and in case you were wondering if I’ve heard back from my spread betting firm (CMC markets) about the Northern foods merger question. You probably know the answer already. No! Not a great advert for their customer service I have to say. Still maybe there is a reason behind it. Maybe my e-mails are caught by their SPAM filter. I don’t know. When I know more I’ll let you know.
Have a great weekend everyone. I’ll catch you all Monday. Unless I see you in the forum before then. Thanks again to everyone joining in the new spread betting strategy topic. It’s certainly got people thinking.
Until next time,
“May the markets be with you!”
Spread betting beginner
