Spread Bet Longs:
- BARC (Barclays)
- Going long because libor scandal under the carpet now and latest results look good to my uneducated eye (making billions in profit and paying a dividend so can’t be bad?). Plan to hold this until some bad news hits (or Stop Loss is reached).
- £5 @ 170.02
- STOP LOSS: 160
- EMG (Man Group)
- Going long because ex-dividend date is 14th August and expecting people to pile into this for record date because they’re paying 6.12p per share (about 7.6% on current price) in dividends and it looks cheap based on how much they have in the bank. First time I’ve tried this theory but expecting to stay long on this until 14th August (or my Stop Loss is reached). Thanks to PaulyPilot for his morning summaries here.
- £10 @ 81.63
- STOP LOSS: 76
Spread Bet Shorts:
- MEC.L (Mecom Group)
- Bought this when I saw it mentioned on another blog but missed out on earnings reports etc. (I ‘bought on the news, not the rumour’). Have faith it will continue to increase because it looks good on the balance sheet but IGIndex sent me an email telling me my other positions were in need of margin. Decided to close this one out to give the other 3 open positions some head room (see yesterday’s opens). Luckily wasn’t in this position for much.
- Opened long at 69.17 for +£2 a point and Sold at 65.33 = -£7.68
Loss for Day
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