Trade of The Week: Reaching for the Skye! (again)

Jump straight to the book, or…

The last time I wrote about Skyepharma was over at in my article titled Reaching for the Skye! I described how I had secured a £45 (but it could have been £450 or £4500) profit thanks to the meteoric rise of Skyepharma shares in April 2012.

Oops, I did it again!

I’ve not yet done it again, but I’m doing it again.Having sold out or stopped out (I don’t remember which) when the price peaked and started to retreat, I then bought in again “on the dip” as indicated by the solid blue line in the IG Index chart below. As you can see, at the time of writing I have already “locked in” (but not guaranteed) more than 10 points worth of profit thanks to a stop order indicated by the dashed red line. At the time of writing, this position is showing more than 30 points worth of “paper” profit and I just missed out on banking a more substantial profit — but there’s still time — when the price spiked up the other day.

Trading Skyepharma
If you like this kind of price chart that automatically shows your current positions and stop orders, you’ll want to open a spread betting account with IG Index. Oh, and ETX Capital is one of the few other spread betting companies that provides something similar.

Disclaimer: this posting is for general education only; it is not trading advice.