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Hi CM
Good you were able to get out of your position when you wanted too, although not at the price presumably
it's important these products are liquid most of the time.
I went the other way and took a few more, cant see this rally lasting much longer, hope to catch the ride down
W.
Thanks for that W.
I have "bailed out". Think the first time I didn't push the sell button within the 15 seconds, nor the second time come to think of it. The price has stayed much the same since I sold, little bit higher (surprise, surprise).
I read into the sort of fund SUK2 is and the risks associated with it; which to a degree you outlined a while ago. It is high risk and although some, including you, seem to be happy to take that risk, indeed even get a buzz from it, I am less inclined to. It states on the Hargreaves Lansdown site under SUK2, that it isn't really designed for anything more than a quick trade, and not intended to hold for any length of time which is out of character for me and what I am able or want to do. I am sure I could play it better in the future.
My general strategy is to start thinking of taking my losses when they reach 10%, plus maybe a day or two (just in case). Take (relatively) small losses before they become large losses. In this instance my losses have amounted to just around 12%. Of course things could improve from here; but isn't that what so many folk think to justify keeping their positions open?. Then they state that they are "locked in" - no they're not, they're just reluctant to admit they have made a mistake and take a hit, which then gets bigger.
The Chancellor will make a statement tomorrow which may well give the market a boost. If so and if most if not all the bad news is already reflected in the market price then there may be another opportunity to dip in here at a better price, somewhere below 400p. We're merely pawns in this game, somebody else is moving the pieces to satisfy their game plan.
I will look at what other opportunities are out there. As you have said, it's more of a trading environment at present.
CM
No problem mate
Trading the short side is quite a white knuckle ride if your not used to it, in fairness thats what attracts me to it. lol
You need to be comfortable in your own investments / trades
Have to managed to close out your trade ?
I have never had any trouble trading this product in the past
hmm, trade didn't execute!. Still in it seems!
CM
Hi W
decided to call it a day here and take my losses on the chin. It seems from what I have read that this is sort of fund is not a good place to hold for any length of time, and is much more suited as a very short term trade. I am not really in a position to do that other than buy and put on an immediate stop loss which I failed to do at the appropriate time. It will now no doubt be the signal for SUK2 to rise.
My feelings haven't changed re the market generally, but for this to give me a positive return then SUK2 would have to rise 10% and more, meaning the FTSE would have to fall considerably. I believe the market will fall, at some time, but a lot of the bad news is already priced in. I have a buy order for a lower price when I may try my luck again. We all make mistakes, at least I come out with not losing TOO much and haven't held on to the bitter end.
Will still be around if you want to stay in touch. Thanks for your thoughts.
Good luck
CM
Makes me think all the bad news is already priced into the FTSE and/or the market is turning a blind eye. The question is for me, how long do I hold?. I am not one for averaging down. I can always sell and buy back in - key for FTSE to fall and SUK2 to rise. Can't watch this all day. I do have a stop loss set for my initial buy at 427, but not the second at 476 (ugh).
Hope CBX is treating you better W.
Wonder how the Chancellors' announcement will affect the market tomorrow?. Is the market already pricing in what they believe will be said?. Who knows?.......certainly not me!.
Good luck
CM
Hi CM
Yes indeed, interesting week last week, higher interest rates in US and UK, inflation out of control, oil back above $100, war in Europe & the market rallies, madness
It was quadruple witching on Friday in the US, stock index futures, stock index options, stock options, and single stock futures expire simultaneously, this always has the possibility of creating interesting markets, masses of money trying to move stocks in both directions. Hopefully next week should be a more predictable week
Still happy with the short side trade at the moment, start of the earning season next week in the US, i cannot see massive outperformance of many companies in this environment
I agree, Putin does not seam the type of lunatic to say 'right enough is enough we'll all go home' there is a lot more to come
The 10.50 trade was a single lot of 238,913 shares a nice round £1m , someone has conviction. lol
Safe trading
W.
Bit late getting back to you - work weekends!, but here goes.
Interesting to see you adding to SUK2, thought you maybe more likely to leave. How long will the market rally in this environment?. Difficult to know. Regarding interest rate rises, well, you would think that would not be good for the stock market but I think the quarter point rise was what the market was expecting so it reacted positively. Had the rate not been raised the market would have thought things must be worse than believed and headed down. Had the rates been raised by half a point then the market would have thought the same, so would have likely to have headed down (all imo). The idea of raising interest rates is of course to try and control inflation, but inflation is being driven up not so much by demand and wages but by rising fuel costs, gas costs and supply costs of production, shortages of supply which is very different. I am not sure raising interest rates will work to control that sort of inflation. If it is to control demand, to take the heat out of the economy then surely that is going to happen anyway with the current situation. Times are going to get tougher for the vast majority of us without raising interest rates surely. But, of course, I only know what I think I know and I am absolutely no authority on such matters and don't have access to the essential information and facts to make the necessary decisions; I/we have to trust in those making the decisions.
I am unable to look at the trade at 10.50, I can only see the trades going back so far. But it sounds as though someone has the same idea as you.
Heaven knows what will happen this week. Things can change so quickly. I think some were thinking that there was a possibility of talks between Ukraine and Russia but the way I see it, Putin won't give up anything. He won't stop until he has what he wants. That is seriously bad news. The key player here may well be China, it sure won't be the West. Putin is laughing in our faces. Thank goodness I have done my time in the forces!.
Good luck with your trading W.
CM
Closed out my long oil at $105.50 today when it tipped over , happy with that one
Added to my SUK2 today, market rallying in this environment is bonkers
Have a look at the trade at 10.50. someone has the same idea, ps that was not mine
lol
Yep, same here, all the news is negative but the market rallies
This is a traders market, it will whipsaw up and down for the foreseeable future, just ride it out if you can
2 options in this type of market
1. Stay out all together
2. Trade both long and short sides
Still have my SUK2 & opened a long oil this morning when it crossed back above $100
one of those will pay off eventually
lol
Blind faith, courage of my convictions......or just plain daft?. Take your pick to describe why I am still in here. I went out this morning with the price rising after a low start to come back to see if had fallen back and then after the market had closed, I thought at 418p to see it is infact at 414p!. Okay, not heavily in here but still a kick in the pants.
Perhaps the market is liking the view of their head buried in the sand, ignoring the world. Interest rates up, oil price rising again, tax rises and heating prices rising, war in Ukraine, parts of China going back into lockdown....but the sun is shining and well.........we don't want to dwell on things. Is all the bad news priced into the market?, is the only way is up from here?. I don't know.
Should have had a stop loss and say "oh well, such is the world, nevermind and move on" should it get triggered. Hmm, something for me to work on this evening.
Hope all is well with others.
CM
Fed statement has initially spiked the bond market in the US,
which is negative for the stockmarket
An old trader once told me, don't trade until 45 minutes after the fed stops talking
good advice
No, I'm still here. I may have set a stop loss at around 435 possibly?, don't know but it opened quite a bit down. The market always seems to be at least one step ahead of me, most of us.
Who knows what tomorrow will bring?.
CM
Glad you are still here.
forgot to say i'm still in my SUK2 from today
Short term bounce in markets over last few days , i see no good news on horizon
Hokey Kokey trading is the norm for this year & yes that was my trade
I typed in IGG into my spread betting account with IG Index and assumed that it would bring up a chart of IG Index, ohh no, now i look again it brings up a chart of IGG inc, god knows who they are ? I should have bought some, there up 13 % today. Ha ha
Did you sell your SUK2 today ?
Bit like the hokey kokey here for you isn't it W?!, lol. There is a word which rhymes with "rollocks" which describes my day here today. As soon as I sell you can be sure of one thing........ Classic reason for holding of course. This has been down all day. So have you sold out again or are you still in?. Guess that is your trade at 14.20 for 4696, that's 10 times more than I have!.......good luck to you. And I am not trying to worry about losing £4.45 a p move, ha ha!. How far will it fall before (any) climbing and to what level can it climb?......depends on sentiment of the market of course.
Which share does the gap 615-538 apply to?. IGG?.
IGG turned around after a good start only to fall back sharply then climb back. Should have put more into that than SUK2, but then again.........that would have put the mockers on it for sure!. Lets see what happens later with the DOW, up around 300 points just now.
CM
IGG has turned around nice for you today
May watch that one myself, thats a cracking gap 615-538. if that one starts to close it will be interesting.
Could not resist it , picked a few up at 425.6889
With the US market rise today i cannot see our market wanting to go long into the fed decision, which happens after our market closes.
May close before 4.30pm if in profit.
Thanks for that W.
IGG getting a mild kicking today on an update, so so much of a hedge here or indeed there.
Interesting approach you have to setting a stop loss; I can certainly see the merit in it.
I agree with your thoughts about the U.S. Futures show a rise there but I have seen how quickly there can be a reversal both sides of the Pond.
Think I will just get out for a while and try and ignore the "noise" as some would say.
CM
Hi CM
Hard one to call at the moment re; selling out
What i do is move my stop to my entry price when the trade moves into profit, the worst outcome is to be stopped out at zero
A word of caution for today, it is 'Fed Day' in the US, day 2 of the FOMC when they announce interest rate movements.
They have already stated they will rise interest rates by 0.25 %, which is unusual in its self to pre announce, this has now been priced into the market.
The US market will react to fed chair J. Powells every word during the initial statement & also the Q&A afterwards
If US markets move the worlds markets move, so i don't tent to trade fed days
all the best
W.
Good morning W., hope all is going well.
I am still in here. Not sure today is going to be such a good day with the FTSE forecast to open up by maybe 100 points or so. I am up, slightly on my first purchase at 427p but down on my second at 476p, but combined it works out to be around 4.5p a penny move, so in the course of things it isn't a huge amount. I am not in a position really to make a quick trade, in and out, so perhaps SUK2 and alike isn't the best of trades to be in. Rather gain a little slowly than lose a lot quickly (or even slowly come to that). As I have said previously, I am using this more of a hedge. The market as a whole is very volatile as we know and any poor news will have its' effect.
The question is, do I bail out of here and take a loss or hold knowing that the loss may well get larger, but not hold too long by setting a stop loss when the loss gets to a certain amount?, only I can answer that one for myself of course. Can't see there is much good news out there still although the oil price has fallen back - when will we see that reflected at the petrol pumps?, not as quickly as we saw them rise.
Have a good day. Markets just opened.
CM
Hi CM
After my 2 previous short trades stopped me out at zero i was determined this time to take profits, however small
Sold my short at 442.4841 late Friday, this gave me £317 profit for a few hours trade, i can live with that, nearly enough to fill the car up with petrol. lol
Have a read up on the details of SUK2, and any leveraged EFT / ETC, they aim to return double the inverse of the index but because of the 'roll' charges etc they do not. This gets worse the longer you hold them, so just keep to quick in and outs if possible.
May get my chance to short Boohoo after-all, institutional shorts now increased to 6.34%
Have a good weekend
W.
£500k?, more like £500 if it was me. £500k, gee; if that is so, someone's got confidence..or more money than they know or care what to do with!.
My question to you W is.........did you make enough profit on your shorts to buy a full litre of fuel this time?!. "Every little helps!", yes.......but come on.......be serious.
Incidentally, when this went up the other day.......was it yesterday?, it wasn't by twice what the FTSE100 went down. Funny that.........I thought that was the whole idea of this trade,,,then again......what do I know?!.
Think the rise with the markets yesterday was a lot down to folk looking for a quick bargain.
Time cracking on. Lets hope for a good day tomorrow
CM
some massive trades here today
single trade for £500 k ,
was that you CM ?
Stopped out on my US shorts , again
Back in here at 436.6259
see if i can keep hold of this one.
lol