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SpreadBetMagazine.com is now under new management. We are taking a slightly different angle in that we want to take a more rounded look at spread betting.

(Just a pretty picture, trading platforms don’t really look like this)

Dear Spread Betting Diary

23 July 2017: Quote of the Day

Borrowing, like scratching, is only good for a while.” – …old Jewish saying

23 July 2017: Buying and Selling Spread Betting and CFD Websites

A little off topic and more of an industry piece, we have taken a look at: Buying & Selling: Spread Betting, CFD and Forex Domains and Websites.

21 July 2017: Brexit Update

  • trending_downThe BBC has reported that Michael Gove has said the “cabinet is united” over the need for a “transitional period” after Britain officially leaves the EU.

    Ergo… the cabinet is certainly not united…

  • trending_up BUY: Dublin Office Space

    We might be a little late on this but another big firm, Bank of America, has chosen Dublin for it’s EU hub.

    Time to look at going long of Dublin office space?

  • trending_downSome reading for the weekend… The Economist, which was always very pro-Remain, is pointing out a number of the issues with the divorce of an incredibly complicated 40 year relation between millions of people… and with laws written by many thousands of people.

    I want to look at the detail but it might be a bit too scary… please get me something to clean the sand out of my eyes.

21 July 2017: Contest Over as Forex Markets Ignore Draghi’s Euro Vision

A quick look at the markets… and it all boils down to a combination of the stronger euro vs both the weaker dollar and pound.
  • trending_upThe FTSE 100 strengthened yesterday on the back of a weak pound, the index closed strongly higher

  • trending_flatUS stock markets were pretty level for the day. To be fair, the S&P 500 was suffering after hitting a fresh all-time high on Wednesday.

    The US Tech 100, or NASDAQ 100 to you and me, managed a small gain and it’s 10th up day in a row – watch out for the big Google (Alphabet) earnings update next week.

  • trending_downUS crude oil is being sold below the $48/barrel level. Expect more resistance before we get anywhere close to $50/barrel.

  • trending_upGold has tested the 100-day moving average resistance at $1247. Concerns over all-things-Trump and lower risk appetite have helped the metal. Buyers should note the 50% retracement of the June – July decline at $1,250 and the major 61.8% retracement at $1,260.

Back to Forex and the Euro…

We’ve take a slightly longer here: Contest Over as Forex Markets Ignore Draghi’s Euro Vision.

20 July 2017… Draghi Day

The highlight today is the ECB / Mario Draghi press conference at 1.30pm. There could be some volatility around this.

Elsewhere, a few broker notes:

  • trending_upLCG on the FTSE 100: The index challenged the 50-day moving average at 7446 yesterday. If we see a weaker pound then the FTSE 100 could clear this moving average resistance and aim for 7500.

  • trending_upLCG on USDJPY: The Bank of Japan has kept its rate unchanged… Japanese inflation remains stubbornly low and the BoJ inflation target of 2% has been kicked down the road to… 2019.

    USDJPY has now retraced 50% of the June – July rise to ¥111.65. If we hold on to the gains then resistance at ¥112.85, i.e. the 200 day moving average, is the next target.

  • trending_downIG on GBPUSD: The unexpected bounce in UK retail sales has done little to help the pound.

    The GBPUSD chart is showing the market has now broken back below $1.30. Today’s high street data was just an improvement on last month’s very poor numbers and the markets don’t seem convinced that UK inflation has peaked.

  • trending_downIG on Crude Oil: Interesting 10 minute video on how oil demand is increasing but supply is still flooding the market – see crude oil market update.

“ECB Dick Tatorship”

To honour #ECB day, let’s not forget this Mario Draghi classic.

And the t-shirt? It says… “ECB Dick Tatorship” (sic).

They probably don’t sell many of those on Amazon

Were there more paparazzi and security?

Super Mario

19 July 2017: Ex-Unicorns Running Amok

The NADAQ 100 chart hit another record high yesterday with Netflix reporting good Q2 numbers.

Helping the US tech index is the Facebook share price which also posted a new record high – investors have been piling in ahead of next week’s earnings data.

Trading Unicorns…

In a somewhat timely manner, we’ve added a look at Unicorns, Dead, Alive and Valuation Problems.

19 July 2017: Bank Jobs, Magic and Gross Incompetence

A quick update from Michael Hewson at CMC Markets:
  • trending_downThe DAX saw its biggest 1 day loss in nearly 3 weeks
  • trending_upWith a weak dollar, ECB president Draghi needs to work the magic again at tomorrows’ ECB rate meeting in order keep the euro from getting too strong. If EUR/USD breaks $1.1620 then a move to test $1.2000 could be on.
The US administration appears to be undermining the dollar at every possible opportunity with what can only be described as either gross incompetence or sheer stupidity.

It looks like the US government is giving the UK government a run for its money in the incompetence stakes. It doesn’t help that neither the UK or the US has a capable opposition.
  • trending_downUS bank stocks have taken a hit after Goldman Sachs reported a 40% revenue drop in its investment banking division. JP Morgan announced a similar story last week.
And a comment from LCG:

  • warningWarning: GBP/USD is consolidating above $1.30 but there a warning over some large call options being exercised on Thursday. See GBP/USD update.

And Don’t Forget…

Trump: No One Knows the System Better Than Me

18 July 2017: Trump Administration is Hurting the Dollar

Drain the Swamp
Somehow… “Drain the Swamp” seems to be getting ever more pertinent…

Looking around the markets, there’s good deal of negative opinion regarding the Trump administration’s ability to get anything done.

We’ve added a roundup of the views here: Why the Trump Administration is Hurting the US Dollar.

It’s not all one way though, LCG are saying “Traders of USD/JPY should be seeking dip buying opportunities as soon as the USD sell-off loses momentum”. Read more.

Elsewhere, according to Michael Hewson at CMC Markets:

“Whatever Carney says today, his views on interest rate policy seem to change as often as the weather forecast, and tend to be about as reliable

“We could see sterling hit $1.3300 in the coming weeks, irrespective of what the Bank of England does, or does not do.”

18 July 2017: The Netflix Express… Next Stop?

The Netflix shares have surged +10% after hitting 104m subscribers.

And the Netflix chart is looking like a freight train…

Choo choo!

warning Warning!… The NFLX stock also looks very overpriced.

18 July 2017: Time to Short UK PLC…?

An apt tweet from Alberto Gallo‏ @macrocredit on the Brexit negotiations.

“EU Team: 100 pages of documents”
“Brexit Team: big smiles”

Brexit Negotiations

17 July 2017: A Number of Markets at Interesting Levels

Update from LCG:
  • trending_flatEUR/USD is trading just shy of $1.15 but there is solid resistance at this level.

  • trending_upAUD/USD has hit US$0.7836, i.e. highest level in more than a year. Carry traders are firmly in charge of the pair.

  • trending_upGold has recovered to hit the 200 day moving average a around $1,230. The next upside targets are at $1,239, i.e. the major 38.2% retracement of the June-July decline. After that, expect resistance at $1,247 and $1,250.

17 July 2017: GBP/USD Clears Critical Fibonacci Resistance at $1.3045

  • starLCG: “GBP/USD has finally cleared Fibonacci resistance at $1.3045, i.e. the major 38.2% retracement off the post-Brexit sell-off.”

  • star_halfCMC: “Sterling had a solid week last week, helped by a rebound in wages and the UK unemployment rate hitting a 42 year low.

    “Cable now faces another key week after breaking above the $1.3100 mark for the first time since September 2016. Watch out for UK inflation data tomorrow as well as a speech from BoE governor Mark Carney.”

14 July 2017: “You are Fucking with Me Now… Watch Your Back, Bitch”

Here we go again, off the topic of trading and back to the addictive soap opera at 1600 Pennsylvania Avenue.

Kevin Spacey has commented on how the current administration puts House of Cards to shame. Sadly, that’s true.

Here’s the latest twist from Team Trump…

Marc Kasowitz, Donald’s personal attorney on the Russia mess, has sent a string of somewhat sweary and threatening emails, TheGuardian.com: Trump lawyer to apologize for sending expletive-filled emails to stranger

(I know the reporter for The Guardian is based in the US but no need to spell ‘apologise’ incorrectly).

14 July 2017: You’re in Such Good Shape

Still watching the soap opera and…

I don’t want to put anyone off their Friday lunchtime pint but… I need you to share my pain… sorry.

13 July 2017: Snap Gap! Textbook Example of Risks in Spread Betting

This week the Snap Inc. stock served up a very good example of how a gap (aka slippage) can hurt investors.

The market gapped from the Monday close of 1696¢ to Tuesday’s opening price of 1631¢ i.e. a gap of 65 points.

It could have been worse for some investors though, during the first minute of trading on Tuesday the price fell further 29 points (29¢) to 1602¢.

And there were some aftershock gaps too. See ‘snap gap’ charts.

12 July 2017: More Pain For Some Ex-Unicorns

It’s not been a great time for shareholders of:

  • trending_down$drys – DryShips Inc.
  • trending_down$tops – Top Shis Inc.
  • trending_down$snap – Snap Inc.
  • trending_down$rad – Rite Aid Corp.
  • trending_down$gpro – GoPro Inc.
  • trending_down$fit – Fitbit Inc.
Stepping in S***

11 July 2017: Snapped!

(sorry, we need to find a new dad joke for Snap Inc.)

Anyway, even Morgan Stanley, the lead underwriter for the SNAP IPO has put the boot in.

The stock is now trading below the $17 IPO price tag at around $15.90

Need a laugh? Live Snap chart and price here.

7 July 2017: Ten New Forex Spread Betting Guides Added

The Trump Grin

We’re still adding more market specific trading guides to Spread Bet Magazine.

Today we’ve added/updated the following guides: We could add a lot of other forex markets like… but hardly anyone spread bets on those forex markets.

If you’re looking for a live chart or pricing for a ‘minor’ or ‘exotic’ forex market, just use the search function on the live forex chart.

5 July 2017: New Commodities Trading Guides Added

We’re in the middle of adding 60 new market specific guides, each guide has a live chart, guide prices, well worked trading examples etc.

Today we’ve added the commodities: …and the softs…yes… we are fully aware that no one spread bets on any of the commodities apart from gold, silver and crude but the other guides let us add pretty pictures!

4 July 2017: Happy Birthday America – You Have Our Sympathy

Trump Does His Best
Leave him alone… he’s doing his best…

For more, please see Dear Spread Betting Diary.

What’s New on SpreadBetMagazine?

We have worked for the spread betting companies in the past. We spread bet. We trade CFDs. We have seen much of what goes on, both good and bad.

Hopefully we can cover some industry gossip too (even when it irritates our advertisers).

Our aim with Spread Bets Magazine is to:

  • arrow_forwardProvide some informative views on how you can improve your trading. We think most trading losses are due to school boy errors.We don’t have a magic pill or ’20 amazing trading secrets’ but if we can help you become more disciplined then will be hopefully save you some money
  • arrow_forwardGive more detail on how to make the spread betting sites work for you
  • arrow_forwardOffer personal views but not trading tips. Note, we are not regulated to give advice and that is probably a good thing!
  • arrow_forwardShed some light on the poor industry practices
  • arrow_forwardPoint out were the industry is pretty fair e.g. we know that many spread bettors don’t like the rolling charges (aka overnight financing charges). However, investors need to remember that when you spread bet or trade CFDs that you are borrowing from the relevant broker. If the broker charges you a rate of “(baserate +2.5%)/365” per night, that’s a reasonable borrowing rate. It’s probably better than your mortgage rate.
  • arrow_forwardFlatter our egos and pretend we know something useful (mostly by pointing out all the school boy errors we have made in the past)
  • arrow_forwardAdd a little colour, politics and humour to what can be a very dry topic – also see Dear Diary
Sometimes we all need this kind of trading assistance...

A Wee Disclaimer and Possible Conflict of Interest

We provide this site for free and rely primarily on advertising revenues for our funding.

Readers should assume that we could well have commercial relationships with the various brokers, third parties, writers etc. on SpreadBetMagazine.com.

We do our best to be impartial but if you think we’re not being impartial please contact us or, better still, if you think a broker review is unfair or their service has changed for the worse etc. please add a comment on that review.

The more user comments we have on the broker review pages the more balanced the reviews will be.

Good luck

Alex Turner
Senior Editor

AuthorAlex Turner

Senior Editor, SpreadBetMagazine