Archive | January, 2009
January 27, 2009 – Easy come, easy go…
After Fridays gains we managed to give it all back again today. Commodities rallied back hard driving STO and BHP strongly higher. We retain the positions but too much more of this and we’ll be getting stopped out at b/even. No new trades today but we do have a long trade ready for tomorrow. If [...]
Continue reading...January 22 & 23 2009, Quiet and happy to be so…
24. January 2009
The last month has been a trying time in US markets with no real direction being given and choppy activity. This model account had an error trade on in CAG which was removed at breakeven today, but this was not a formal recommendation so no impact on the account status. We retain a single short [...]
Continue reading...January 23 2009, New open equity highs…
24. January 2009
Thanks to plunging prices in BHP and STO we’ve managed to see the account jump well through the $54,000 for the first time. That said we have 2 full US trading sessions whereby anything can happen, and usually will. So, we don’t pin our hopes on one days price action because it can reverse just [...]
Continue reading...January 22, 2009 – Gains pared…
23. January 2009
AWE pushed higher, as did BHP, both of which contributed to some giving back of open profits. STO dropped helping us out a little. No new positions were opened but the AWE stop is close by. The broader market is still in the midst of a wave-(4) bounce from our perspective but it needs to [...]
Continue reading...January 20, 2009 – No rally for Obama
21. January 2009
Our last long position, official long position that is, HPT, was stopped last night. We have an unofficial position in the account from a failure to cancel a trade. That is now costing us money, but mistakes do happen in the real world. We are left with one short position which is a dissappointing result [...]
Continue reading...January 20, 2009 – Energy & Resources helping out
20. January 2009
It’s been a busy few days in out household so this is a late post taking into account the last few days. We exited our last long position in BSL for a small 1R profit. We now have no longs yet retain our 3 shorts; BHP, STO and AWE. All these 3 are in the [...]
Continue reading...January 16, 2009 – Drawdown continues…
19. January 2009
Our analysis of the broader indices has been spot on, but doubts crept in regarding the ability of that analysis to hold up. As such we started reversing longs and replacing them with shorts, which is now biting us back. One of those ‘stop and reverse’ trades was BIIB that has now stopped us out [...]
Continue reading...January 15, 2009 – Treading water
16. January 2009
It’s one of those frustrating times in the market where a sustained trend is hard to come by and swing trading becomes difficult. It seems whatever we make in the ASX we give back the following evening in the US. We started switching from long to short a few sessions ago, added some more shorts [...]
Continue reading...January 14, 2009 – Got to turn the boat…
15. January 2009
We’ve been on the wrong side of the US market over the recent weeks and it’s cost us some nice open profits. We added two new shorts a few nights a go and intend to add some more tonight, albeit we still retain two long trades. Our feeling that a bounce would offer better upside [...]
Continue reading...January 15, 2009 – Is the bear back…
15. January 2009
Despite the 4.25% decline in the market today our trades and account went along swimmingly. The account increased $800 in value, or 1.5%, to close at $53,923 which I think is a new open equity high. We exited DJS on the open for a moderate profit and NAB a little after for more or less [...]
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27. January 2009
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