Archive | February, 2009
February 25, 2009 – Indecision
The US is trying to decide whether it really does want to go lower but we’re simply managing our open trades as best we can and allow the market to do as it wishes. Today saw Boral closed at at breakeven. As I have stated to subscribers, I am happy to take breakeven trades. It [...]
Continue reading...February 23 2009 – Back in shape
24. February 2009
Since our last update we’ve been calling the US indices to start declining below Novembers lows, hopefully with some force. So far so good with last night seeing new 12-year lows. We are short 6 stocks in the US which is about all I’m willing to go with at this stage. Our account has started [...]
Continue reading...Monday February 23, 2009 – Going, going…
23. February 2009
Our last update on Thursday highlighted short positions in BLD, FXJ and LEI. We had been short in MIG but was stopped out for a breakeven trade, however we jumped in again on Friday. Today saw continued weakness with all positions working in our favour, although BLD dropped going ex-div. The outlook portends one last [...]
Continue reading...February 19, 2009 – Staying short
19. February 2009
We were able to book profits in the short PBG trade yesterday at $0.31 but also added new shorts in LEI and BLD. Currently we hold short positions in LEI, FXJ and BLD. We had been short MIG but stopped out today for a scratch trade. We’re always happy to take scratch trades because it [...]
Continue reading...February 17, 2009 – Starting to slip
17. February 2009
Our bias is that the markets may be close to tackling the November lows perhaps with a sharp selloff. as such we’ve been slowly getting short positions on, which today was the right way to be placed. MIG (-3.2%), FXJ (-3.6) and PBG (-5.6%) all traveled nicely. The Model Account does not have the short [...]
Continue reading...February 16, 2009 – Adding shorts
16. February 2009
We added a new short in MIG today taking the total short positions in this model account to 2, the other being FXJ. Subscribers are also short PBG but I was unable to facilitate that trade for personal reasons. The US markets offered some good news on Thursday after a strong closing statement, although this [...]
Continue reading...12 February, 2009 – Slipping into the red
13. February 2009
Since our last blog post the markets have remained in a sideways range creating difficult trading conditions. We have attempted to align ourselves with the probable decline that is expected to break this range, but it’s proving resilient to say the least. Our aim here is to continue to keep risk low, or even stand [...]
Continue reading...9 February, 2009 – False breaks defended
10. February 2009
We covered two shorts today, AAX and GCL after they initially stalled on the pattern breakout. If a stock wants to breakout, it needs to do it immediately. We do not want to be hanging around in this volatile environment hoping for a positive outcome. It either does, or it doesn’t. If it doesn’t we’re [...]
Continue reading...February 6, 2009 – TGIF
6. February 2009
Thankfully someone finally rang the bell. Its been an unpleasant day, ending an unpleasant week which continues on from a difficult month. We’re doing our best to repeat our US performance of giving back all open profits made before Xmas. The chop of the markets within this larger degree wave-(4) is unrelenting. It’s said that [...]
Continue reading...February 5th, 2009 – Another short added
5. February 2009
We now have a total of 5 short positions on with the addition of CTX today. The only signs of long trades remain in the resource sector so we’ll watch those with interest in the coming days. Trades today: The account declined by $37 with LGL and CTX dragging us down and STO making a [...]
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25. February 2009
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