[INTRA-DAY ACTION]
Pretty bad introduction to CFDs this week. I have taken positions in JRVS, OIL and CBG this week from my watchlist. I also took out a very quick and unsuccessful short on PSN.
OIL is the only position I have left open, after being stopped out of CBG and closing JRVS because of some serious and by-now predictable manipulation of the book my the market makers.
Jarvis continues to slump and has a 4% spread so I will wait to see if there is support at 25 before re-entering. CBG was set up very nicely but it just crashed and it stopped me out pretty quick. I did not like this setup as my leverage was ridiculously high given my deposit and it worked out at about a 2.5% margin.. which really doesn't make sense given the deposits on the high volume stocks like RBS are normally 5%.
OIL has made new highs, but the book is just full off mnemonics so that stock is a closed book to the private investor at the moment. It is fairly typical of the UK market that a stock making new highs just doesn't keep the momentum, and the shackles were put on OIL pretty quick as I watch WINS, EVO, SCAP etc slither their way up the bids and asks. The spread has widened significantly since the early hours of Mondays open trading, when I entered the bid/ask was 901/905, it's currently 925/940.
There is not much else happening on the watchlist, AVM is up 2.8% but the book is closed on that one already and the volume is out, so a good morning for the market manipulators there. PTG looked really nice until the MMs also closed the book on that, and it has since retraced all this week. TATE is sending me to sleep.
Anyway, mostly I'm annoyed at the market makers again. I really just do not see the need for these guys. Why curtail a stock that people want to buy? A stock should be valued on what traders and investors want to pay for it, not want a suit in London wants to sell or buy it for. This has caused PTG, AVM and JRVS to be almost untradeable despite the relatively good setups leading into the week.
OIL is the only position I have left open, after being stopped out of CBG and closing JRVS because of some serious and by-now predictable manipulation of the book my the market makers.
Jarvis continues to slump and has a 4% spread so I will wait to see if there is support at 25 before re-entering. CBG was set up very nicely but it just crashed and it stopped me out pretty quick. I did not like this setup as my leverage was ridiculously high given my deposit and it worked out at about a 2.5% margin.. which really doesn't make sense given the deposits on the high volume stocks like RBS are normally 5%.
OIL has made new highs, but the book is just full off mnemonics so that stock is a closed book to the private investor at the moment. It is fairly typical of the UK market that a stock making new highs just doesn't keep the momentum, and the shackles were put on OIL pretty quick as I watch WINS, EVO, SCAP etc slither their way up the bids and asks. The spread has widened significantly since the early hours of Mondays open trading, when I entered the bid/ask was 901/905, it's currently 925/940.
There is not much else happening on the watchlist, AVM is up 2.8% but the book is closed on that one already and the volume is out, so a good morning for the market manipulators there. PTG looked really nice until the MMs also closed the book on that, and it has since retraced all this week. TATE is sending me to sleep.
Anyway, mostly I'm annoyed at the market makers again. I really just do not see the need for these guys. Why curtail a stock that people want to buy? A stock should be valued on what traders and investors want to pay for it, not want a suit in London wants to sell or buy it for. This has caused PTG, AVM and JRVS to be almost untradeable despite the relatively good setups leading into the week.
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