Friday, June 19, 2009

Trade 13 - Hedge of a Pair Trade

I'm bearish on the market.

Not sure if there's ever a trade that hedges a hedge... but today I was getting nervous about WBC performing better than the market, despite what I feel are weak market conditions. THe market seemed to be up 20 points on the day, but the TICK seems to be unusually weak (-40to-50) and I felt the last hour of Friday could lead to market weakness.

So I made my first 'feel' trade - where the charts aren't giving me anything too indicative, and there aren't any full macro reasons to make this short.

So I shorted 5 ASX200 cfds at 3919.5.