Trading software

Monday, August 13, 2012

S&P 500 trading, Facebook shares

There's a nice downside gap on the S&P 500 this morning so I've bought it and hope to see it close by the afternoon. This trade is the S&P Gap trade I discussed last year and is one I've done quite well overall.

Elsewhere, my EUR/GBP trade is in profit - only eight quid at the moment but I'm using minimum stakes as it's something new I'm trying so I won't be winning or losing big on that overall.

On the racing front, I've been up since about six looking through the cards but I really can't find any opportunities today so that's best left alone.

Finally, it could be a tricky week for those that have bought Facebook shares. This week sees the ending of the time period where staff of the company are prohibited from selling the shares they acquired. While some will surely hold onto the shares, others are going to cash in which will see a good deal of supply enter the market, possibly pushing the price lower once again.

Overall, it's been pretty dismal for the buyers and the shares, which were once near $40 are now around $22:

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