Monday February 23, 2009 – Going, going… | The Chartist

ASX Commentary

Monday February 23, 2009 – Going, going…

Mon, Feb 23, 2009

Our last update on Thursday highlighted short positions in BLD, FXJ and LEI. We had been short in MIG but was stopped out for a breakeven trade, however we jumped in again on Friday. Today saw continued weakness with all positions working in our favour, although BLD dropped going ex-div. The outlook portends one last thrust lower, hopefully an aggressive move, before prices are expected to take a large tunr higher last many months. We are carefully holding measured shorts at this stage but will be quick to align ourselves to the long side when this major advance comes along. It could be a month away yet, but it is looming.

MIG trade from Friday:

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Account balance:

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

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