Trading Diary & Market Update ~ Monday 13th January 2014
08:50am (07:50 UK time) ~ I am still away on a long-weekend break in Le Touquet so no trading for me today but I will be back in the UK later today.
Here in Europe equities are set to open marginally higher but the mood remains very cautious. Despite the weak jobs data released on Friday, European equities managed gains overall. The US Non Farm Payrolls report showed a gain of 74,000 jobs, less than the expected increase of 196,000 jobs with the unemployment rate dropping down to 6.7%, the lowest since October 2008, so we now have the prospect of revised tapering plans by the Fed and the impact that will have on the markets. Having rallied in the first part of the day, the Dow Jones reversed course as a reaction to the employment figures ending 8 points down at 16,442, although the S&P500 faired slightly better and now looks like its on a course back to the high of 1852 that was reached on the last day of 2013.
17:40pm UK time ~ I’m back home now so I’ve got a chance to switch on my MT4 platform for a few hours and watch my S&P500 chart. I will report back later if I see anything.
19:10pm ~ I am in a short position with my Trade With A Day Job strategy, the stop loss is 24 pips and so far I am at break-even although the market has been going south for most of the afternoon so all looks ok.
19:35pm ~ I have closed my trade off now as we’re out to Cafe Rouge shortly for some supper. I managed +30 pips.
Daily Target Reached ? YES (+30 pips)