I have been following the banks and in particular Irish banks for some time now like most market observers. Recently however I have become more than interested in AIB who are trading today at a seven month low of 12.25. I have been interested in the stock for over a year and during the most turbulent times said I would enter at 12. It never reached those lows but looks like it could be heading that way now. As this is a long term three year trade I would look at shares not a spread bet. However even a long spread bet at this price could yield profits on a short term bounce back to 13.

Back to spread betting and my FTSE shorts are a lot healthier now. My procrastination has cost me a lot but this is my fist year of trading and I’m still in baby step mode. My goal still stands at a 10% profit for the year. I have no intention of increasing my shorts now as I lost my chance at 6300. My interim expectations are for the market to move between 5900 and 6000 before heading to the March lows in July/August.

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