February 4, 2009 – Adding Shorts | The Chartist

ASX Commentary

February 4, 2009 – Adding Shorts

Wed, Feb 4, 2009

We retain our short positions in LGL and STO, both of which did nicely today, and also today have added short trades in AAX and GCL. There are a number of bearish setups developing so we’ll take a closer look at those although I’m hesitant to get too short considering the choppy price action we’ve been through. The risk is there that the chop will stay with us. That said there are signs that the US is readying itself for its next large leg down and we’d ideally like to be involved with that.

Trades executed today:

Click to enlarge

Click to enlarge

The account gained $384 with thanks to STO (-3%) and LGL (-3.25%). The two new positions are slightly OTM so we’ll watch those hopefully develop for us.

Account statement:

Click to enlarge

Click to enlarge

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

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