Short at 7433.30. Reasons the same. Back to 8 UKX shorts.
Closed 7403.30. Taken 30 points. Though much lower levels seem likely later, I stick by my approach to take any decent gains.
Short at 7427.80. Same reasons as before, though it may of course go higher before it sells-off.
Closed at 7414.80. Taken 13 points on this one as tomorrow is another day & I’ve enough short exposure left.
Short at 7432. It’s retreated a few times recently from just above these levels. However, with a “No-Confidence” in this government vote now delayed, it’s also far from sure what will happen next. Back to 8 shorts, still hedged by 5 longs.
Closed at 7409.80. Settled for a steady 22+ points.
As it stands, no clear direction next & I need to go out a while.
Closed 7331. Booked another 30.5 points.
Down to 6 UKX shorts still hedged by 5 longs. That seems a fairly decent balance to have right now considering a few uncertain macro-factors.
Closed at 7264. Booked 31+ points & reduced my short exposure to 5.
Middling UKX dividend tonight.
Closed 7207. Booked 41+ points.
I still feel the selling may be overdone with Sterling remaining weak, but I could be wrong. Nevertheless, down to 4 UKX shorts, but now hold 6 longs.
Closed at 7178.50. Taken a further 33.5 points.
That rounds off a VG day, so far at least. However, I’ll now keep my remaining 3 UKX shorts open a while longer & would re-add a 4th short on any rise. Still 6 longs held.
Closed at 7123. Booked another 33+ points.
Not without some residual added risk as I’m now down to 2 UKX shorts hedging 6 longs. But still a more than decent day, with almost 140 points booked in total.
Closed 7084.80. Booked 35+ points. Down to 1 UKX short.
Added risk taken on with the 6 longs, but no doubt that UKX will be higher again later & nothing gained without taking some risk in this game.
Closed at 7054.30. Booked another 33.5+ points on my final UKX short in this bearish run.
Risky as I’ve 6 UKX longs left, but I feel the extent of the selling seen recently may be overdone on negative sentiment & a rally could be due soon. Yesterday’s sell-off across the FTSE 100 the biggest seen over any 1 day for over 3 & 1/2 years. That gives it some perspective.
If wrong, I have the margin to ride out further falls, though I may add new shorts later.
Short at 7061.50. Re-established a new short hedge in view of today’s falls close to 7,000. That key support level may well be re-tested soon enough. Day low so far, 7004.
Closed 7039.80. Settled for quick 21.5+ points. Re-added on any bounce.
Short at 7061.80. Same reasons as above minutes ago.
Short at 7095.80. A 2nd hedge in view of today’s lows & recent volatility.
IMO, more selling off likely later. Also away from my desk most of tomorrow, so would rather have hedges in place for my 6 longs.
Closed 7073.30. Booked 22.5 points. That’ll have to do for today with one UKX short left hedging 6 longs.
Overall, another fairly decent day, but could’ve been better.
Short at 7091.80. A 2nd UKX short hedge reopened for same reasons as earlier today.
Placed one-day only limit orders to close existing shorts (at 7091.80 & 7061.80) at 7030 & 7020 respectively. If triggered, will post them later on this afternoon.