2017 - July - Not only 12 months later, but even 19 months later on from shorting the FTSE at 6100 in June 2016, it still feels in June 2019 too dangerous times for any new FTSE short bets at 7350.
July 2017 - Not only 12 months later, but even 19 months later on from shorting the FTSE at 6100 in June 2016, it still feels in Feb 2019 too dangerous times for any new FTSE short bets at 7250.
The threat of UK QE and interest rates going to minus zero are messing me shorts about.
Don't short indexes when they benefiting from quantitative easing and fiat money printing.
Nevertheless, idiot, for the first time in 19 months, I stopped being short and briefly went long the FTSE.
I stopped all triple shorts bets in August 2017 when FTSE 100 was at 7350 and went long the triple long FTSE with a reverse bet that was 10% of my FF.
Do not forget, in July 2017 when FTSE was also at 7350, I thought the FTSE UK3S short ETF had reached an all time cheap buy in price at 310 and so like this desire in Feb 2019, wanted to double up my short so as to benefit from a probable phase transition due to an even worse UK GDP employment, manufacturing and housing forecast and it figured this July short ETF would now climb well above 310 to 450 as the FTSE and economy plummeted.
But Aug 6th 2017 FTSE rose to 7400 and this ETF fell to 305, 5 below 310.
My promised Scout plan was to cover all my shorts if that happened as it was evidence to the contrary. So I covered all, and reversed betted presuming that the final 2 months of August and September would show the final long bubble spike and push UKS3 down to 150 from 310. (wrong got to 7800 and as far as 245 in 2018)
What will change my mind and convince me that this UKL3 is a losing bet too? Hmmmmm.
The first day, I promised if the short ETF closed above 310, I would reverse bet again and buy the ETF. It did close above that 3 days later. Then I said to myself after looking at the chart that if UK3S closed above 330 within a week, I would reverse back to the buying the short ETF at 44k which would be 20% of my freedom fund. Why because it will have closed above its most recent high indicating a possible phase transition that proves the UK economy is predicted to suffer for the next year at least. Finally.
We are at August 17th, which is now 8 days later and UK3S is at 312, 7 points above my buy in price. I am losing 2% of a 20k bet.
Sept 9th it closed above 330 and for some reason I bought luckily only 10k of this short ETF and not the 44k.
Oct 7th this short ETF closed at 294 and I am losing 1k instead of 4k over a 4 week period. Seems to be heading to 150 as I thought and I am so incorrectly short the FTSE once again, instead of being long the FTSE.
Cons to Shorting FTSE - Need FTSE to go 0 to make a max 100% profit
Building shares are going up as the government has promised to give 30% of mortgage as loan to those buying outside London and 40% loan to those buying inside. Reminds me of Dublin when builders gave 50000 back to each buyer if they bought.
Which junk bonds been swallowed up at the moment will be most at risk?
Comments