Note: I am reporting this a day late because my internet access was interrupted last night.
On Wednesday, I closed my long in the ETFS Nickel position because LME Nickel has rallied for seven consecutive weeks. This is not without justification because it is cheap and the fundamental background is gradually improving. However, I am also going to be on holiday next week and I would like to have a little less exposure in my trading account because I am unlikely to look at it every day. I sold June ETFS Nickel at 1727 on Wednesday afternoon, against my purchases at 1691 and 1676 on 6th and 7th March, respectively. These prices include all spread-bet dealing costs which are comparatively high with ETFS contracts. Nevertheless, I am likely to reopen this position in the not too distant future.
More on the loss of internet access; this has occurred twice this year, to my dismay. The earlier incident was due to a storm which compromised access in my neighbourhood for several hours. Late last night the problem was only on my office floor but not being a techie, I did not know all the resets that needed to be made on two floors and no one else was within reach to assist. I like the peace and quiet of working on my own but when something goes wrong…! However, I am learning and hope to keep disruptions to my output to a minimum in future. Lastly, my Audio for the 19th, recorded last night, was posted this morning when I regained internet access.Back to top