My personal portfolio
Comment of the Day

December 27 2013

Commentary by David Fuller

My personal portfolio

Two trades rolled forward.

David Fuller's view

China long and S&P hedge short trade rolled forward.

 I have been doing very little trading this year which was probably a good idea, especially as I was preoccupied with the challenge of maintaining this service while planning its move to FT Money.  However, I did have two small positions which I have allowed to be rolled forward over the last week.

 These were a long in the JPMorgan Chinese Investment Trust (JMC LN) which I held in the December contract, purchased at 162.38p on 17th May.  This expired at 155.38p on 17th December and a new long was simultaneously opened at 160.96p. I am holding this for its medium to longer-term recovery potential.  The second position was a very small hedge short in the S&P 500 Index, which I need not have opened since the traffic has been practically one way throughout Q4.  This short was opened at 1745.88 and 1766.38 on 24th and 29th October.  These expired and were bought in at 1809 on 20th December when I allowed the automatic rollover position to reopen a same-sized short position at 1801.70 for the March contract.  The uptrend is still consistent and benefiting from the QE tailwind but I will be surprised if the trend does not become choppy in 2014.  Prices above include all spread-bet dealing costs.   

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