Archive for December, 2011

Even though Gold finishes this year 10% up, it plummeted in December and 19% off its high level reached in September.

Many analyst now argrue if a big correction is underway or it’s just a great buying opportunity. Would be interesting to hear everybody’s thoughts.

I, personally, just bought into gold with IG at 1547 (£20 per point) and will review the performance at 1700 or 1200… I currently have no stop loss attached to it and I will add to the position when it reaches 1200 level.

Finally, I decided to take a few short trades. As some of you might remember I still hold RBS, £100 per point but since RBS share price is so low (about 20p) my exposure is not massive.

Today, I tried to buy a few things:

1. Bought FTSE at 5415 with stop loss at 5395 and limit stop at 5550.

2. Bought EUR/USD but I got exited with £120 loss (only £1/pip).

3. Thomas Cook Group. Bought at 15.502 £50/point with stop loss at 11 and limit stop at 20. I bought June futures as plan to hold them for a while.

Will keep you updated on when/if I get something else.

PS: put a sell order on US crude at $102 with stop loss at $104 and will take profit at $98. $102 has a decent resistance level.