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The Virgin Spreader chronicles my journey into the world of spread betting.

This spreadbetting blog starts from day one of a novice spreadbetting career. I intend to hunt down as much advice on spread betting as possible, talk to as many professional spread betters as possible and develop a winning spread betting strategy. And I will write it all down here. If you have anything you would like to contribute PLEASE get in touch!

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I'm still in there PDF Print E-mail
Written by Virgin Spreader   
Friday, 20 November 2009 13:59
The only reason I am still invested in my Admiral Group long position is because it is fascinating to watch it keep heading lower.

In my last post I lamented over the decision to go long on Admiral Group last week.

Since then the share has closed each day lower than it closed the day before. The medium term graph is reminiscent of your typical stock in late 2008.

Over the past couple of weeks nothing has persuaded others to buy into Admiral - be it an advisory piece in The Motley Fool, daily good press or general FTSE 100 strength.

When the FTSE 100 is doing well Admiral does slightly badly. When the FTSE does badly - well - Admiral takes a dive further south. However - I am sure that rock hard support will be found at the 1000 level.

Now I don't have a painful amount of money on this stock, but one thing I am getting out of it is the experience that I am sure someone new to CFDs and spread betting must eventually take.