November 10 2008 – Staying short

ASX Commentary

November 10 2008 – Staying short

Tue, Nov 11, 2008

We still have 4 short trades open; THG, NST, MTRX and BEAV. The SAY short was stopped last night at break even, just after the market opened strongly before reversing. Never any harm with a b/even proposition. The NST position is also working its stop at b/even with the others not far behind. The US indices continue to chop in a triangle shape so we continue to await a clean downside break in the near term to hopefully bank some profits.

Trades last night:

Click to enlarge

The account now stands at +5.9%:

Click to enlarge

0saves

Save

If you enjoyed this post, please consider leaving a comment or subscribe to our newsletter and receive a free sample of our analysis each week.

This post was written by:

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

Contact the author

Facebook comments:

Latest Share Trading Articles

The Hidden Strengths of Volume Analysis (part 2) September 19, 2010
In the last article I discussed two examples of how and why volume can show the changing face of supply and demand. When the order of supply and demand is change we will get a change in market direction, sometimes a significant change in trend or otherwise some degree of retracement of the prior move. [...]The Hidden Strengths of Volume Analysis (part 2) is […]
The Hidden Strengths of Volume Analysis (part 1) September 19, 2010
The power of correct volume analysis cannot be overlooked. Unfortunately the ability to read volume correctly is not readily discussed or freely available. Off-the-cuff remarks such as, “increased volume on advances is bullish and increased volume on declines is bearish” are bantered around but that’s as far as it goes. The correct use and application [...]T […]
The Psychology of Trading September 19, 2010
The most important part of investing and trading is psychology. Investing is a constant struggle where the battleground is not the market or advice given but comes from within you. You will face stress over losses, you will be in turmoil in deciding to enter or exit a position and it will place many demands [...]The Psychology of Trading is a post from: Shar […]