8 December, 2008 – So much for balance

ASX Commentary

8 December, 2008 – So much for balance

Mon, Dec 8, 2008

After seeing Crude plumb new lows on Friday in the US I assumed we’d be in good condition with a short STO position. That was proven wrong when rumors of a takeover surfaced sending the stock skyrocketing and taking out our breakeven stop. So with the Dow up very strongly we should have had a decent day today being bias to the long side, but ended up slightly down for the day. Stuff happens.

Trade executed today:

Click to enlarge

The account is now +3.2% in the few weeks we’ve been back into the ASX but hopefully the market can continue finding some strength and our long positions can regain some lost ground.

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This post was written by:

Nick Radge - who has written 899 posts on The Chartist.

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