Thursday, November 26, 2009

Trade 203 - short JHX




Short 350 JHX @ 7.93

Strat
1/ ASX weak, despite overseas numbers
2/ Expect weakness in sector, US related weakness expected

Tactical Entry
1/ sitting at pivot resistence 7.94
2/ 1 hour chart looks to form bearish top, with trading range - expecting breakout to the downside

Risk
1/ stop 8.13
2/ exit 7.00
3/ 20c/ 93c - risk/reward