Plus 500 Minus 85

Plus 500 (PLUS.L), the Israeli CFD company whose interface makes GFT look slick, have posted great earnings yet their shares fell like a stone yesterday on immense, absolutely immense volume. 6 million shares traded against the normal 200-250k, and forming a bearish engulfing bar on the daily chart. A short last night was an absolute cert.

Looking at the chart I did at 1pm today, we had already done 2 million shares, so today's volume could well approach double that, and sure enough we are down some more. It is unlikely the support at 465p will hold, especially as we have now broken the 50 day simple moving average.

The share would have to recover to 480p (where the grey line is) by the end of today to avoid that, which seems very unlikely.

PLUS 500 DAILY

I don't know if this is anything to do with Evil Knievel, and his comments, but volume res ipsa loquitur as Boris Johnson might say. I remain short, with a TP of under 200p.

Does anyone know why Plus 500 don't offer spreadbetting. I only use them for BitCoin.