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UKX Long trades

index:ukx

#41

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
#42

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.


#43

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.


#44

Closed 7315.80. Booked 27.50 points as matter of course.


#45

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.


#46

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.


#47

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.


#48

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


#49

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.


#50

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


#51

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.


#52

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

Back down to 5 longs.


#53

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.


#54

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.


#55

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.


#56

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


#57

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.


#58

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


#59

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


#60

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