Spread Betting Update w/e 01/12/06

No new positions this week although one trade did close with a reasonable gain.

My long trade in December Gold closed on Monday the 27th November, the closing price was $640.6 per ounce.

I had managed to enter the trade on the 6th November when the price was $627.5 so the net result was a gain of 131 points ($13.10).

However, I was not playing big on this trade and had opened a small position - £0.14 per point (yep, just 14p!).

So, my little Gold trade yielded £18.34.

So far in this little experiment I have had 3 trades closed out - 2 at a loss and this Gold trade which was a welcome winner.

The other two trades were:

(1) Long bet on US stock Cypress Semiconductor - bought at $20.03, stopped out at $16.65 for a loss of £57.46
(2) Long bet on December Gold - bought at $627.5 and sold at $626.5 for a £10.00 loss.

Overall, betting bank is down 1.92%.

Below are the current standings as at the end of play 1st December 2006:

Trade Ref	£ per Point	Long/Short	Entry Price	Current Price	Current P/L
10001	3.00	Long	138.80	147.8	+27.00
10002	0.46	Long	737.80	836.4	+45.35
10003	1.35	Long	247.50	274.8	+36.85
10005	0.08	Long	4024.90	4204.6	+14.37
10006	0.23	Long	1488.00	1432.5	-12.76
10007	0.67	Long	475.60	500.0	+16.34
10008	0.15	Long	2255.6	2080.7	-26.23
10009	1.00	Long	342.2	349.0	+6.80
10011	0.29	Long	1138.8	1175.4	+10.61
10012	1.35	Long	286.8	274.8	-16.20

Current P/L = +£102.13