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UKX Short trades

index:ukx

#41

Short at 7541.50. Re-added a 3rd UKX short as it’s mostly weak Sterling keeping this up.

Could well go higher, but some resistance not far above these levels.


#42

Short at 7564.30. A 4th UKX short as I see little other than the £ being badly sold off again behind this rise. I remain confident that UKX will again see a sharp retrace… eventually.


#43

Closed 7561.80. Booked only 2.5 points. A bit of a scratched trade. Reasons: mindful of day highs at 7590+ & a still very weak £. The saying, “any port in a storm” seems apt. Back down to 3 UKX shorts.


#44

Short at 7563. Lots of resistance above these levels & the £ may have found some support. Back to 4 UKX shorts.

Edit: Scrap comment about £ perhaps finding support. It’s down again.


#45

Closed at 7556. Settled for only 7 points due to uncertain next major direction & sufficient existing short exposure with 3 shorts left. Difficult spell & very slow progress, though they all count.


#46

Closed at 7536.50. Booked another 5 points for reasons as before. Now down to 2 UKX shorts.


#47

Closed at 7498.30. Booked 19 points. Main reason: I’m away from desk for longer spells today. Glad to be down to one UKX short at 7494.30 as posted here.

Temporary limit order set on last short at 7474 looking for 20+ points in case of sharp dip when I’m out. Would prefer closing all by Monday & a new PM in office, but glad to hold the one if needed.


#48

Closed at 7482.80. Booked 11.5 points. Overridden limit order. Now hold zero shorts. Over a couple points hit in dividends on this.

That’s 30+ for the day & a blank canvas as regards shorts for what could be a tricky week ahead, especially with a new pro-Brexit PM due on the 23rd.


#49

Short at 7500. Reasons as before. Just the one UKX short now.

Temporary limit order at 7490.


#50

Closed at 7485.30. Booked 14.5+ points.

Overall, I’ve had a decent day & for now I’ve no other active positions in UKX.


#51

Short at 7504.10. Reasons: a strengthening £ & little support for UKX at higher levels.

Will be less keen to add too many shorts at these levels due to a new PM in No 10 from the 23rd.


#52

Short at 7528.50. Reasons same as before. Also, a hard Brexit & further weakening of the £ may be less likely than some may have assumed. Now back up to 2 UKX shorts.

Temporary limit order on this at 7500.


#53

Closed 7520. Booked 8.5 points with a new PM due next week. Back down to 1 short.

There are VG days, like yesterday. Other days, less gain will do due to uncertain macro-factors ahead whose outcome hard to predict.


#54

Closed at 7493. Booked 11+ points. Expect more volatility. One UKX long left in other thread.


#55

Short at 7500.30. Mostly hedging the one UKX long… just in case of greater downside before a likely rise next week.


#56

Closed 7486.80. Booked 13.5 points. Back down to 1 UKX long in another thread.

Maybe I’m snatching at some gains too quickly, but it’s served me well overall. - GLA.


#57

Short at 7492.80. Same reason: hedging existing UKX long.

Ideally I could shut both by end of tonight. Unlikely. So if I had the choice of one only? I’d prefer closing the long, despite anticipating a rise next week. I’m less bullish for after Johnson’s inauguration as PM. I expect him to be found out fairly soon as another lightweight.


#58

Short at 7514.30. Re-added a 2nd for same reasons. These 2 shorts still hedged by one UKX long.


#59

Closed at 7500.30. Booked 14 quick points. Back to parity between long v short, ie. one each.


#60

Short at 7507.30. Re-added a 2nd, still hedged by one long.