Archive | January, 2009
January 14, 2008 – In the noise…
“The market giveth, and the market taketh away…”. And so it was today after yesterdays great gains were all given back today. AWE turned its back on us rallying back over 6%, as well as STO and BHP gaining. No new trades were initiated, so we retain 3 longs and 3 shorts.
Continue reading...13 January 2009… Shorts making headway
13. January 2009
We added some short positions last week in recognition that the market was more than likely going to slide lower. BHP and STO have both been the useful positions but today saw AWE come on home for us by dropping 9.4%, closing on its low. We exited the long ASX trade just after todays open [...]
Continue reading...9 January, Uneventful into the weekend….
9. January 2009
We had no trades today, the account retains 4 longs and 3 shorts and our balance declined by $13.00. We’ll see what the US can dish out for us tonight…
Continue reading...January 8th, Thanks for the thrashing today..
9. January 2009
Well, I have said time and again, “If you trade long enough, anything and everything will eventually happen…both good and bad.” We had one of those bad nights last night which reinforces how fickle the markets currently are and why I have opted to keep risk very low at 0.5%. We went into last night [...]
Continue reading...January 8th, Longs hedged with shorts on open
9. January 2009
We went into today with 4 long positions and comfortable with those trades. Subscribers have been alerted to the possibility of a minor near term dip which more or less turned up today. We therefore added 3 new short positions in BHP, AWE and STO on the open, which by days end had nicely hedged [...]
Continue reading...January 7th, Hit from left field…
8. January 2009
That’s the problem when one creates an expectation for the coming weeks – getting it wrong and being blindsided. We retain the 3 long trades but obviously felt some pain because of initial slippage on open. Whilst the US indices may pull back a small amount here we continue to view the larger chart patterns [...]
Continue reading...January 6th, 2009…Some long trade added
8. January 2009
Whilst we believe the next month or two will be a bumby ride we do anticpate that it will have a moderate upside bias. As such we’re keen to stay on the long side for the time being, yet keep risk low whilst the market chops around. We opened three long positions last night, specifically [...]
Continue reading...January 7th, A better day…
8. January 2009
Not much to add today. We retain our 4 long positions but are working with some new short setups in case a down turn takes hold. BSL again performed well today and is not far from its target level. Price action over the coming month or two should be very choppy so I expect easy [...]
Continue reading...January 6th, Shaken out…
7. January 2009
As per yesterdays post, we dicuded to take some ‘discretionary’ defensive action on IRE, only to see the market dip enough to shake out the stop before heading higher again. “Plan the trade, trade the plan” or “Do as I say, not as I do…” Nonetheless, IRE was a profitable exercise whilst on holidays. Here [...]
Continue reading...January 5, 2008…Square to start New Year
6. January 2009
We have no US positions into the New Year although several setups have been rcommended for subscribers this evening. We approach the start of the 2009 with a little trepidation in the near term as near term direction is expected to be choppy, albeit with a slight upside bias. Q4 2008 saw the account return [...]
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14. January 2009
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