Brexit could seriously hurt automobile and tourism industries

[Randy B]

All, I came across many such articles and I personally believe in it too. So think it is better to be careful, specially if you are new to trading.

However, this sounds like a good opportunity for professional traders with experience during volatile periods and specially for value investors if you really know what you are doing.

But the users here in this section of the forum, I think red lights are on!

 

[mike.]

Thanks for the heads up...

 

[tomorton]

Not being an intra-day trader the immediate volatility on Friday and potentially tomorrow isn't too much of a worry. I favour forex anyway and for the most part the trends on the major pairs were simply amplified by reactions to Friday's announcement*. The problem now is that the bearish pairs have prices so low they're not worth shorting immediately. Whether the USD continues to gain strength is yet to be seen.

In summary, no need to pull the plug but more than ever, patience required for the best opportunities (these will probably be the Yen crosses).

* except the big ones, EUR/USD and USD/JPY

 

[tomorton]

I do use spare capital to trend trade FTSE stocks - but the last thing for me to be doing now would be getting over-weight short. I think Brexit and the political evolutions we're seeing are very bearish both long and short-term but my trades are TA-based only, and don't involve price-chasing.