Morning all,
a dangerous day is developing for anyone (like me) who has open long positions.
The DOW and all Far East markets are down heavily, NIKKEI has just closed with its biggest fall since April! All European markets are called down, SB'ers are calling the FTSE down by around 25.
I am not into prediction but I can see support at 5380 and we could well get a bounce from there, alternatively, I shall be looking to short the FTSE below that level.
As far as my open positions (RR, GKN, BWNG & CTM) are concerned the former 2 have stops in positive territory, the latter have my standard 3% opening stop. I shall leave the stops as they are.
If it all goes t**ts up then I will be break even across the 4.
I shall not be entering any equities today, except as very short term intraday trades.
Good trading to all
Dave