The square mile seems to be a lot quieter today as many employees have booked annual leave for the Christmas to New Year break. With many traders closing their books for the holiday period, it is likely that volumes will be low and liquidity thin. This could see markets become slightly erratic moves, or trade in a marginal band with little direction.
Abshire-Smith’s client are recommended to check their market calendars for trading hours, and plan ahead their risk management strategies. Leaving positions open across the holiday period should be done with caution, and stops are recommended to ensure the holiday doesn’t become a nightmare.
Finally a Merry Christmas from all at Abshire-Smith.