Archive | October, 2008
29 October 2008 – More setups appearing
We’ve were squeezed out of the INFA short last night resulting in a breakeven trade. Never an issue with breakeven trades – its a part of the game and ideally our goal is to get the protective stop to breakeven as soon as is possible. We retain a small amount of MIR because of the [...]
Continue reading...28 October 2008 – A short squeeze…
29. October 2008
Going into the 889-pt rise in the Dow we had 3 short positions on. It’s never pleasent to be tilted all one way but its the best play in this enronment and we need to take the good with the bad. It wasn’t long ago we had been on the right side of dramatic moves.¬† [...]
Continue reading...25 October 2008 – Targets tempted…
25. October 2008
The US opened much lower last night with the index futures hitting their ‘limit down’ levels for the first time in a number of years. Prices managed to reverse off those limits but being a Friday after a large negative week it may have been some short covering ahead of the weekend. None of our [...]
Continue reading...22 October 2008 – HMY hits the target
23. October 2008
We waited patiently for setups. We traded with the broader market trend. Last night was payoff with the S&P 500 dropping 6%. Going into the session we had 2 shorts already in place but another 4 recommendations ready to trigger, all of which did. HMY hit its target price banking a 3R gain. Including open [...]
Continue reading...Short Selling Ban Remains
21. October 2008
Unfortunately ASIC have decided to leave the current short selling ban in place until November 18 for all stocks and through till January 27 on financials.  Considering the market has lost more than 15 per cent in value since the introduction of the ban, and the XJO posting four of its biggest one-day percentage losses [...]
Continue reading...20 October 2008 – Watching earnings…
21. October 2008
The choppy price action is offering up some more bearish setups for us but we now have the earnings season to contend with as well. I highly recommend that positions aren’t held over the respective release so when one is due within a week it makes it a pointless exercise to put a new trade [...]
Continue reading...18 October 2008 – More of the same…
18. October 2008
Nothing new to report. HMY moved down a little, HUN moved up a little and the model account moved up a little as well. We’re now +3.3% after the first 2-weeks of trading the US account. Nothing to write home about but better than being sucked into the quagmire like most. No new trades were [...]
Continue reading...16 October 2008 – The chop begins…
17. October 2008
I’ve been warning subscribers over the last week about the impending and probable ‘choppy’ price action that can be expected. This will cause some frustration for both the bulls and bears, but helps build our desired setups. It’s going to take a significant amount of work to reverse the broader markets trends and until that [...]
Continue reading...16 October 2008 – No new dawn today…
16. October 2008
The suckers rally over the last week was just enough to create 2 bearish setups for us, both of which activated on last nights 730-point plunge. HMY is a Gold stock and I did express concerns that a flight to quality may put a bid into it, but it too fell over, dropping almost 10% [...]
Continue reading...14 October 2008 – An up day does not make a new trend…
14. October 2008
Many of the news wires will be chirping away tonight and tomorrow about the great gains made today and the full frontal assault being globally co ordinated. Yes, its all great news in the short term but it’s going to produce inflationary issues longer term that eventually we’ll pay for. In my analysis tonight for [...]
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30. October 2008
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