Daily Alert – Thursday 28th April 2022: US GDP contracts, equities hit

Mark NugentApril 2022, Daily Alert

Daily Alert – Thursday 28th April 2022: US GDP contracts, equities hit

Good afternoon.

US GDP (Q1, annualised) was -1.4 percent (that’s minus) vs an expectation of +1.1 percent. The announcement was at 1230 BST. Equities moved down for 2 or 3 hours but now seem to be recovering.

At the close last night, after the live Q&A webinar, I went long on Japan225 and S&P500. It’s the same trade, so I halved the risk to 1 percent per trade. I also used pending orders to make sure things were going my way before I got in. This has backfired with the S&P500 as the price rose sufficiently to bring me into the trade before moving down into loss-making territory after the GDP number was released. The Japan225 was kinder and is still in the money. I am slightly up between the two trades.

Right now, we are indecisive in terms of sentiment. I doubt I will take any more trades this week and that means I am done for the month.

Monday is a holiday so we will be back on Tuesday.

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