My personal portfolio:
Comment of the Day

July 13 2011

Commentary by David Fuller

My personal portfolio:

Profit taken NDX stock market index futures short; silver futures long reopened

David Fuller's view Index (weekly & daily) and it is still nearer to the upper boundary. Nevertheless, in this choppy market environment it has often paid to trade on the basis of: 'A bird in hand is worth two in the bush.' Around midday, I bought back my September NDX short at 2358.9 against my sale at 2394 on 8th July. These prices include all spread-bet dealing costs.

Seeing today's additional strength in precious metals, I reopened a long in silver (weekly & daily) paying $37.143, including costs, for a position half the size of my earlier purchase at the lower side of the range, which I mistakenly sold in a 'fat finger' error. I reopened the long with a smaller position because silver was already up $1.50 when I bought. I can add to this trade at either higher or preferably lower levels and am likely to trade it fairly actively in any event as gold has advanced for eight consecutive days in reaching a new high in USD, and this is still a period of seasonal underperformance.

I also opened a long in palladium (weekly & daily), paying $781.55, including spread-bet dealing costs, for a September position. I had though I would be buying platinum but palladium has the better chart pattern, in my opinion.

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