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Archive for June, 2011

Well, that was a bit hairy, …

Wed, 29th Jun 2011 Leave a comment

FTSE-100 at 28th June 2011… but we got there in the end! I was half right about the local minimum; the bounce did happen, but it only lasted for a day and the second dip was definitely not in the plan. However, I used sufficient margin to survive and this morning the index has reached 5810 and I have closed my bet for a 72 point profit. This does form a useful “spike minimum” pattern though, suggesting a longer-term rise than I originally expected. With the Greek austerity vote (thereby saving the euro for a little while longer) seemingly priced into the market already, I’m expecting a return to the 20-day moving average soon and I’ll be watching over the next few days with a view to re-investing my profits.

Categories: Betting

A local minimum?

Tue, 21st Jun 2011 Leave a comment

FTSE-100 at 20th June 2011The small kink at the end of the chart above suggests a local minimum to me and I am looking for a bounce back to the previous peak at 5800 or the moving average, which is just above that level. We have had all the bad news about delays to Greece’s next bail out payment so I think a small bounce is due after a 300 point drop. I have bought September FTSE at 5699 with a 100 margin.

Categories: Betting