Next short position – 50% of position size cut @ 3555p

1 mins. to read

Sometimes a trade doesn’t happen and frustrates. Our Next short is proving to be this trade and so we are looking to ‘force Sod’s Law’ through closing half our position – expecting that it will then reverse whilst at the same time cutting our risk. It’s probing new daily, weekly and 52 week (and all-time) highs – generally not a good train to be stubborn about playing chicken with!

The chart below looks like an imminent flag break to the upside to me and, as any seasoned punter will tell you, this game is all about profit protection, acceptance of a loss – and quickly, then clearing your mind (and account) and moving on. We’ve had a great run of late, the suns out and weekend beckons so it seems only right to reduce one of our few remaining open Trading Calls.

Next 10 day chart

Hope you all had a good week. We’ve got Dominic Picarda’s webcast this weekend on Heritage Oil – a firm favourite of ours in the Oil & Gas sector, so don’t miss that.

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1. A diversifed yet concentrated Oil Explorers fund

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3. A Special Situations/Global Macro fund.

If you would like details on this unique “follow me” system and how you can gain exposure to these funds ahead of an official launch, email us at editor@spreadbetmagazine quoting “FOLLOW ME”.

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