This is a quick update from me this week as I’m short on time.
We’re living in some strange times at the moment – it’s not every day we sit on the brink of a pandemic sweeping the globe. I think we know our money is safer in FI than in the stockmarket at the moment but let’s be real – it isn’t going to be plain sailing either.
This week we’ve seen the coronavirus really ramping up in Italy, as well as beginning to find a foothold elsewhere. The resulting postponements to Italian games have led to drops on Serie A players and there’s the real possibility that the Euros will be under threat next. There is a sense of uncertainty about the safest place to put money on the Index at the moment as a result.
Even without all of that, FI haven’t exactly covered themselves in glory so far this year. The recent tech issues that led to market sell going down for several hours are concerning. NASDAQ is somewhere around the corner but in the meantime, I think traders will be fairly easily spooked and I’ve no doubt that some are holding money back in case of an ‘apology’ deposit bonus in the next few weeks.
As I said last week, many traders are doing very well at the moment having picked the right horse at the right time – Bruno, Foden, Gilmour and others. With everything that’s happening at the moment, I’d be pretty happy with a static port to be honest. Anything else is a bonus.
I’m continuing to reduce my port size and sold another few youngsters this week – Blas, Alena and Kluivert for a small loss and Gallagher and Sergio Gomez for a small profit. I’m still trying to sell some other holds but liquidity isn’t great across the platform at the moment.
As always, the full breakdown is on the individual fund pages. Happy trading!