January 15, 2009 – Is the bear back… | The Chartist

ASX Commentary

January 15, 2009 – Is the bear back…

Thu, Jan 15, 2009

Despite the 4.25% decline in the market today our trades and account went along swimmingly. The account increased $800 in value, or 1.5%, to close at $53,923 which I think is a new open equity high. We exited DJS on the open for a moderate profit and NAB a little after for more or less a breakeven trade. We retain a long interest in BSL, but kindly short BHP (-6.5%), AWE (-3.9%) and STO (-2.0%) which made up the days gains.

Trades done today

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Here is the completed DJS trade:

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Click to enlarge

There is a risk that the bounce we were looking for may not eventuate and that prices are ready for their next leg down into new lows. Whilst this has been the mandate, we were hoping for a little more upside traction beforehand. Maybe not to be.

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

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