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Thursday, June 28, 2012

The S&P500 gap trade

Can't really find any bets or trades on the horses today so I'm leaving that alone. I've spent a couple of hours going through the cards but it's just one of those days where nothing stands out so there's no point in forcing it and I'll keep my money safe.

With regard to the financial trading, it's a bit of a tricky day as we have yet another crucial EU summit (how many times have we heard that now?) so the markets are a bit choppy in anticipation of any news.

It could be a bit dodgy but I've bought the S&P 500 at 1319.6 and I'm hoping it rises to last night's closing price - basically I'm trying the S&P Gap Trade.  I've set a stop around 1313 but I'm only using small stakes because of the EU summit etc. I'll get out of the trade, win or lose, before 3.30pm when the real US markets take over. 

S&P500 15 minute chart as of 12.25pm:

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