UKX Long trades



Long at 7509. Re-added a 5th, taking advantage of very sharp after-hours downward spike.

UKX dividends for 8th August currently stated as 36.10 points for longs.

Edit: Backdrop to the falls here & globally - Breaking news: Trump has imposed new tariffs on China. A significant 10% on $330bn of Chinese exports starting 1st September. Looks like his proxy traders may have switched from long to short.

Brexit Wars 3

As an update (mostly for my own records), since Trump’s tweets late Thursday threatening to escalate tariff wars with China, markets have been in near panic mode as fears increase of a global recession ahead. IMO, it’s overdone… for now. Still, the DOW closed over 767 pts down yesterday & UKX gave up 183+ points, after losing 179+ pts on Friday.

In perspective, UKX saw intraday highs of 7727+ only days ago on 30th July. Today, pre-hours, saw 7057+. Brutal! So much can change in days.

I’ve no plans to add to my 5 longs. Wish I could, but it’s too risky. Just keeping an eye on markets. Later on, trends will change yet again. But for now, it remains to be seen if today &, probably, tomorrow are merely relief rallies to be followed by more strong selling. Impossible to be sure.

Looking further ahead: I’ve no plans to start hedging with shorts again until at least 7500+ seen. I fancy more highs later after fears about trade wars calm down again & before, as seems likely, Boris Johnson’s government faces a crisis. Maybe circa October to November. By then I want to be holding only shorts again.

But for now, for me it’s sheer patience & no new trading until UKX recovers substantially. One small consolation: UKX dividends more than cover holding costs. Over 60 pts due over this & next week. - GLA.


Long at 7288.30. Too much volatility, including & not least with Sterling, to assume a huge sell-off just yet. Dips frequently bought up. This a 6th UKX long hedged by 5 shorts.


Closed 7315.80. Booked 27.50 points as matter of course.


Long at 7265.80. Added a 6th long due to the extent of the reversals over past couple of days. Seems overdone. I could be wrong, but I’ve now restored parity with 6 UKX longs & 6 shorts… be it for a brief while.


Long at 7171. Added a 7th UKX long after earlier releasing margin from ditching leveraged ITV longs.

I also have a short open at 7170 in the “short trades” thread, so more gains either way.


Closed 7186.30. Booked 15+ points due to ongoing uncertainty & partly to get better overall balance of positions. Back down to 6 longs hedged by 4 shorts.


Closed 7295.80. Booked 30 points. UKX longs reduced to 5, hedging 7 shorts.


Long at 7299.30. Future direction less certain with no immediate GE now likely. Re-added a 6th to add greater balance to 7 shorts.


Closed 7310.80. Booked 11.5 points. Back down to 5 longs.


Long at 7287.30. Re-added a 6th long to restore a bit of balance with still 7 shorts open.

As the eagerly anticipated GE may be delayed, possibly more upside before then?

Edit: added the obvious 7 before the 287.


Closed at 7297.80. Booked 10.5 points. Seems the best decision before another uncertain week ahead.

Back down to 5 longs.


Long at 7308.30. A 6th re-added in view of recent highs & volatility. Also the start of a new month tomorrow may add an added fillip to markets.


Closed at 7328.80. Booked 20.5 points.

Could well go much higher, but too volatile to be sure of anything much right now. Rather lock-in more gains.


Long at 7310. Back with a 6th.

May need to pop out so have set a temporary limit sell order closer to day highs at 7335.


Long at 7268.80. Re-added a 7th & finally again restored parity with number of UKX shorts.


Closed 7280. Booked 11+ points.

Down to 6 longs hedging 7 shorts. But a bit of a slog today due to a lack of volatility… so far at least.


Long at 7269.80. Re-added a 7th to restore parity with shorts. Next direction hard to determine.


Closed 7285.80. For 16 points. They all count over time. Longs reduced to 6 again.


Closed at 7334. Booked 24 points. Down to 5 longs.