Archive | November, 2008
November 19 2008 – Short selling back
The ban on short selling on non-financial sector stock was lifted today albeit with some new caveats. Because of these new measures we’ve decided to stand aside for another week or so until the dust settles. We are advising subscribers on various trading opportunities should they wish to go it alone for the next week, [...]
Continue reading...November 17, 2008 – Adding shorts…again…
18. November 2008
We added another short position last night with HOLX. We now have two short trades running, THG and now HOLX, with several in waiting should the US decide to run lower. The THG stop is at breakeven. We have no interest with long positions in this climate. The account is now +9.3% in approximately 6-weeks [...]
Continue reading...November 14 2008 – A bit of volatility
17. November 2008
Friday was a difficult day with early signs pointing to follow through strength after Thursdays momentum turnaround. Going into the seesion we had 1 short (THG) open, which remains in place, and were looking at some new longs. We were pulled into one of those longs and duly spat back out again with some nasty [...]
Continue reading...November 13 2008 – 2 Targets met…
14. November 2008
The US indices finished very strongly but thankfully early weakness enabled 2 short trades to meet their targets and profits were banked. The two trades, BEAV and MTRX, are shown below: The other trade executed last night was a breakeven trade in NST. We have one open trade left where the stop is also set [...]
Continue reading...November 12 2008 – homing in on the targets
13. November 2008
Another solid drop in the US helping out with our current 4 short positions. MTRX and BEAV are within a few cents of tagging their respective targets. Stops have been pulled in very tight now to lock in gains. THG and NST remain in the money but away from their respective target levels so far. [...]
Continue reading...November 10 2008 – Staying short
11. November 2008
We still have 4 short trades open; THG, NST, MTRX and BEAV. The SAY short was stopped last night at break even, just after the market opened strongly before reversing. Never any harm with a b/even proposition. The NST position is also working its stop at b/even with the others not far behind. The US [...]
Continue reading...November 6 – Further slides
7. November 2008
Not much to add tonight. All positions moved well in our favor so its now just a matter of letting prices do their thing. If the market decides its ready to have another look lower after a few weeks of consolidation we’re well placed to bank some profits. However, rarely do things trace out so [...]
Continue reading...November 5 – Obama’s puppy rolls over for us
6. November 2008
We waited patiently, even sacrificed a few small losses, but the US markets rolled over nicely for us which in turn activated 4 new short trades in addition to our already single short in SAY. We now hold profitable short positions in BEAV, MTRX, NST, SAY, and THG. We have no idea what will transpire [...]
Continue reading...November 4 2008 – A bit of chop
5. November 2008
We entered a new short in SAY yesterday, but today suffered a little bit of chop with the short position in RF stopped out and the short HCBK whipping us in and out in a single session. Whilst it’s never plesant to be whipsawed in a single session, it does happen on occasion – I [...]
Continue reading...November 2 2008 – Sidelined
3. November 2008
October Summary: Start Bal:¬†¬†¬†¬†¬†¬† A$50,183 End Bal:¬†¬†¬†¬†¬†¬†¬† A$50,126 ROI:¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬† -0.11% ASX200:¬†¬†¬†¬†¬†¬†¬† -12.66% # Trades:¬†¬†¬†¬†¬†¬† 0 No trades during the month because of the ongoing short selling ban. This will be overcome on November 18 for non-financials so hopefully we’ll start to see some action on the account. If you’re wondering how the account dropped without [...]
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19. November 2008
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