SELL - S&P500 (Using Warrants SPFKCY)
*** GENERAL AVICE ONLY***
Trade Date: 13/11/2023
Recommendation
Use SPFKCY (S&P500 Future mini Short)
Entry price: $3.42 (S&P 4410)
Target Price: $3.82 (S&P 4370) (+12%)
Stop Loss: $3.22 (S&P 4430) (-6%)
Rationale
S&P futures had a strong close on Friday night which sent it past recent highs around 4425 . Over the weekend though, Moody’s changed the outlook on the US ratings to Negative. This morning US futures are slightly softer and this gives us an opportunity to short where risk can be managed easily, with a stop just above the recent highs. Not looking for a large move, just a move back to the mean of the most recent range around the 4370 area.
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.