Sometimes you get lucky. Other times it just runs the wrong way. We were short STO, only to be squeezed out on takeover rumour, then watch as it nosedives again as the rumour subsides. We buy NAB only to get caught up with the WBC capital raising t. Traders sold bank stocks to take advantage of the WBC fire sale. Times like these can be frustrating but we need to push through. That said coming into Christmas one certainly thinks of laying low for a few weeks, however, we still have positions to manage, unfortunately none on the short side.
Today we were stopped out of the short NCM trade.
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And the account just can’t make it into new equity highs.
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Wed, Dec 10, 2008
ASX Commentary