November 2 2008 – A messy month end… | The Chartist

ASX Commentary

November 2 2008 – A messy month end…

Sun, Nov 2, 2008

October Summary:
Start Bal:¬†¬†¬†¬†¬†¬†¬† A$50,000
End Bal:¬†¬†¬†¬†¬†¬†¬†¬† A$52,048
ROI:¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬† +4.09%
SP500:¬†¬†¬†¬†¬†¬†¬†¬†¬†¬† -17%
# Trades:¬†¬†¬†¬†¬†¬† 11
Win%:¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬† 45%
W/L:¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬†¬† 2.61

I had mentioned a few days ago we were involved in a forced buy in for a short position in MIR due to the new SEC laws. This is the first time this has occurred and I unwittingly neglected my standing orders in the platform. As a result I ended up being accidentally long the stock on Thursday and closed it at market on Friday. It doesn’t matter how long you have traded something will always come around that you don’t foresee. No damage done.

We go into the new month with one short position on in RF that was opened on Thursday. A few more setups are around, all on the short side still, so we’ll see how November treats us.

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

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