Well who would have thought it 6300 and still going strong. I am still short on three positions which may seem dire but remember they are FTSE Sep futures so I’m not too worried. The only one causing me concern is my FTSE June Future which expires on the 20th of June. Is this enough time for the markets to realise that growth for the coming year may well be below expectations.

Currently Oil at $127 and commodities enjoying the run of their lives inflation is back on the books and while most company earnings have been good there are strong headwinds. My current play is another short FTSE annual at 6300 which will make four shorts I have open (very bearish). This may not be justified but I can’t help feel we are getting closer to the next shoe to drop which may be the consumer, let’s see what summer brings.

I will however try if at all possible to scale out of my June position which is a clear looser. Happy trading.

Well I’m still here along with my bearish opinions. I am quite in the red and have made some cardinal sins but still I sleep well and am not overly worried about my positions. Markets have an annoying herd mentality and the current rally will probably continue to 6300 and if it continues past that well I will be so wrong that this lesson will go down as my most expensive lesson learned yet.

For the moment though I am still in sit back and wait mode.