Monday, June 22, 2009

Trade 13 - Exit, small gain

Held the ASX200 cfd over the weekend, thinking the weakness in the SP500 would continue - it rose by 2 points, and I decided to close at market open and I made $62.50 off 12.5 points on the ASX. Not much, but good to get a base hit.

Market Update:
Oil seems toppy at 70usd, Gold seems to be weak and I believe this will carryover into commodities in the next week or so - RIO and BHP seem to be underperforming a strong market today.

The tick is at -70 but the index is up 32 points - I might try to setup another short position around 3930, as I don't see any news that will drive the market higher today.