Trading Diary & Market Update ~ Thursday 3rd October 2013
10:05am (9:05am UK time) ~ We got in very late last night (well 3:30am this morning) so it’s not going to be a busy morning as I feel slightly tired today. I have got a cycle ride up to Guadalest with some friends before lunch but before then it’s going to be a quiet time here in the study doing some emails. This afternoon I’m off to Alicante Airport to pick up some friends who are flying in from the UK.
With no truce in sight yesterday in the US Congress regarding the federal budget, the equities markets reversed course on the open and headed south for most of the session. Investors are still digesting the news of the government shutdown, but are now looking for a possible time span of the current stalemate. The Dow Jones dropped 115 points to 15,210 amid very high odds the Non Farm Payrolls numbers will not be released this Friday as the civil servants in Washington who normally compile the numbers have been sent home from work this week as there’s no money to pay their wages.
The WTI Crude price climbed yesterday partly because of news that a planned gulf pipeline will be completed and ready to start up by the end of the year. U.S oil futures ended the day $2.06 per barrel higher making it the largest gains in two weeks on Wednesday. Prices were up 2 percent on the close, also helped by the weakening dollar and uncertainty in the market. The rising prices were in spite of data from the U.S. showing a rise in crude stockpiles.
17:00pm ~ After a relaxing nice day away from the markets, I’m going to sit down now with this laptop for a few hours to see what comes up on the S&P500
17:30pm ~ The markets are moving quite well this afternoon and I’ve just taken advantage of the large move down on the S&P500 and joined in with a strategy-3 trade from my trendFX collection of systems.
19:35pm ~ I am now out of my last trade of this evening. There is a certain occurrence that sometimes happens at 5pm UK time (6pm out here) and tonight it was right on time and the resulting trade gave me a +102 pips. My earlier S&P trade finished just before my last trade and resulted in a 47 pip profit. I’m now going to cook supper for our guests.
Daily Target Reached ? YES (+149 pips) I just traded early evening today