Archive | November, 2008
November 28, 2008 – Still looking up
Our long side plays remain intact with some good gains recorded by BHP (+7.6%) and ASX (+4.2%). IRE increased +2.2% with DJS remaining slightly out of the money. Today we added a short position in NCM. We took a conservative entry but there was a much better, if not aggressive stance available but we chose [...]
Continue reading...November 27, 2008 – Holding, for now…
27. November 2008
No change in positions at this stage; we retain 4 longs – ASX, BHP, DJS and IRE. All but BHP are wallowing near entry levels. Not much to do at this stage but allow the market to do what it wants. The account is now +2.1% although there is a long way to go before [...]
Continue reading...November 25, 2008 – Up ‘n away…
25. November 2008
The domestic market finally decided to hold some of its gains on back of a strong US which is a positive sign that maybe we do have a good low in place. It’s a shortened week in the US so anything can happen. BHP jumped over 12% for us today although we can never be [...]
Continue reading...November 24, 2008 – Full Trade Summary
25. November 2008
Our existing 3 short positions were closed early in the session locking in a moderate profit. We are now completely square in the US and anticpate a counter trend rally to unfold over the coming weeks, possibly into year end. More on that is discussed in the secure area.  As the account is now square [...]
Continue reading...November 24, 2008 – Getting long…gulp
24. November 2008
I made an argument to subscribers this weekend for a moderate low point in the market. Whilst nothing is ever a sure thing with the markets, there was compelling evidence that if a low point was to be made it could have been on Friday. That said, the key driver is the US and this [...]
Continue reading...November 22, 2008 – Almost, but not quite
24. November 2008
A very volatile session in the US on Friday with one or two of our targets missed by the narrowest of margins. Indeed the short target in HOLX was missed by a mere 3c before the stock rallied hard into the close. Such it can be with trading. We’re not sure whether the strong closing [...]
Continue reading...November 21, 2008 – Short and sweet…
21. November 2008
All positions moved favourably and profits were banked on ORI. View trade: A few people have asked me what ‘R’ stands for. ‘R’ is the initial risk of a trade, usually stated as a percentage value of the account. Everything we do should be measured in ‘R’ because it equalizes all trades in terms of [...]
Continue reading...November 21, 2008 – Short Selling Irony
21. November 2008
We remain sidelined in Australia until next week or so. Suggestions are being put forward to subscribers but formal recommendations with trade management are not until we’re comfortable. Sure, opportunities are being missed, but we’re taking the cautious line. Gerry Harvey has come out today having a whinge about short sellers, quote, “…all short sellers [...]
Continue reading...November 19, 2008 – Staying short
20. November 2008
There is not much to do when the market’s doing what you want. We’ve patiently waited for strength to align ourselves with the weekly trend and as soon as that strength starts to slip, we get short and allow the larger trend to do its thing. We retain 4 shorts, all of which moved well [...]
Continue reading...November 18 2008 – upping the ante
20. November 2008
2 new shorts added tonight, LH and ORI, taking total short trades to 4. This is aboout as much as I’m willing to take at the moment. The US indices are showing some signs of downside resiliance here so I’m happy to stay with the current exposure and let this choppy price action recede. Trades [...]
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28. November 2008
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