Closed at 7187.80. Booked 16+ pts before w/end as there may be better opportunities later to re-add another short or two. Still have 3 UKX shorts.
Short at 7212. Re-added a 4th short a bit higher up for same reasons. Very volatile markets!
Short at 7306.50. A 5th short added for same reasons. Now hold parity of UKX shorts v longs.
In my view, little obvious logic behind the strength of today’s rise in UKX. But mindful that markets are often irrational, it could well go a lot higher.
Closed at 7264.80. Settled for 41.5+ points.
Down to 4 UKX shorts hedging 5 longs.
Short at 7304.50. Re-added a 5th as a protective hedge for same reasons.
Closed 7247.30. Booked 57+ points. Plenty of volatility recently, but so far not the bigger sell-off one anticipated & an early GE may be slightly delayed.
Frankly, hard to be sure of anything much in this climate. Down to 4 UKX shorts hedging 5 longs.
Short at 7248.30. Re-established a 5th hedge short to 5 UKX longs.
It may indeed go higher, but I still feel a much sharper sell-off lies ahead.
Short at 7317.30. A 6th add for reasons as before. These hedged by 5 UKX longs.
Closed 7286.30. Booked 31 points. Back to parity between short & longs. Recently it’s been heavy going at times. So it goes.
Short at 7311. Re-opened a 6th position, hedged by 5 longs. Reasons same.
Closed 7281. Booked another 30 points.
I have a strong sense that this has much further to fall over the coming weeks. But for now prefer booking decent gains. Back to 5 UKX shorts v 5 longs.
Short at 7293.50. Re-added a 6th short for same reasons. I want to maintain a greater weight to the short side for a while as UK’s government seems in a very parlous state.
Closed 7262. Booked another 31.5 points. Back to parity with shorts & longs. Would re-add another short on any rise.
As I’m away from my desk today & almost anything can happen in UK’s current political climate (so much uncertainty & increasingly so!), I’ve a set limit order of 7198 on one of my UKX shorts opened at 7248.30. If triggered, I’ll declare it after 4 PM. My other 4 UKX shorts I shall let run for later. - Said limit order only for today.
Short at 7295.30. Re-added a 6th UKX short, for factors as before.
Got back a few minutes ago after being away from my desk for almost 7 hours. Didn’t expect today’s bounce, but I’m still convinced that we’ll see a bigger sell-off in good time. Fundamentally, little has changed.
Short at 7361.50.
Though index recently gone back against me, added another short for fundamental macro reasons affecting UK & that, not least, I’m well hedged with 5 UKX longs.
Short at 7435.
Sterling getting hammered again, which is fuelling a rise across FTSE. A final short add for the sell-off I believe is due for UKX later. That said, at this rate, before that I may be closing some of my 5 UKX longs sooner than I thought.
Closed 7412. Booked 23 points before the w/end.
Though I strongly believe we’ll see much lower later, taking gains is an insurance. Plus, I’ve still enough short exposure left with UKX. Down to 7 shorts.
Short at 7430.30. Re-added the position closed earlier. Back to 8 UKX shorts.
Closed 7392. Booked 38+ points. Very useful & not without some VG luck with timing. Down to 7 shorts.