Monday, August 17, 2009

Trade 53, 54 - Another Day another Shot at Shorting the Financials


Trade 53 - ANZ short

- 100 short @ 20.22
- trading in a range between 20.37 and 20.17 - the stop loss is above the upside breakout price of 20.37 and the target is 19.8
- below 100DMA
- increasing weakness across all global markets
- financials are definitely overcooked at the moment.




Trade 54 - WBC short
- 100 short @ 23.929
- nice downtrend, trading the breakout, stop loss 24.15
- similar macro themes as ANZ