January 8th, Longs hedged with shorts on open | The Chartist

ASX Commentary

January 8th, Longs hedged with shorts on open

Fri, Jan 9, 2009

We went into today with 4 long positions and comfortable with those trades. Subscribers have been alerted to the possibility of a minor near term dip which more or less turned up today. We therefore added 3 new short positions in BHP, AWE and STO on the open, which by days end had nicely hedged the long exposure. Indeed for the day teh account lost $3.00. Crude has fallen again o/night so some of these shorts may continue lower today. These new positions all gapped quite dramatically on open so we’ve already taken some defensive action to lower risk exposure.

New trades today:

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And the account balance remains more or less unchanged:

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

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