Sunday, May 2, 2010

Weekly Wrap

Friday ended with a large fall in the US indices Dow falling over 150, Sp500 falling 20 points - all favourable to my short bias portfolio.

The goldman probe is the media's reason for the drop - but the technical issues, and the short lived gdp figures and fed speech were the only reasons the market had held up reasonably well this week.
The market seems to be forming a topping formation finally, with risk currecies such as AUD drifting around resistence.

Uk, china and ASX stocks are already on short term downtrends - with the ASX200 getting close to it's 200MA.
If there's a time to start buying an allocation of your funds into vanguard index funds - the time would be to start scaling in on monday. I think I'll deply about 10-15% of cash into vanguard, and then probably wait til the 4400 area to get my next batch..if it gets there.

The sectors that helped the current rally - financials and resources are not doing well, although there is a divergence with Gold - as it has kept moving higher this week - likely due to the sovereign risks in EUR. Greece isn't the only one in trouble at the moment.

Current Positions


sp500 (32 contracts) - this is my largest ever short position on the sp500 - I plan to bank some coin on 5 contracts during the Australian trading session.

tech100 (2 contracts) - a small position that I used to hedge my ATVI positon (which I sold off earlier this week at breakeven) - I plan to keep this position open to maximise the current correction.

ANN (1000) - the largest position I've had to date on any one stock - I plan to scale out of the trade at market open a block of 300.

CCL (500) - this is paired with my GFF long, and continues to struggle.

WAN (500) - not a large positon, but will do well on the Monday open.


GFF (3823)

CTP (11800)- a tiny position, basically a reversal play

Total Exposure: $68979.88 ($59484.8 short positions)

I'm cashed up, and I'll be getting some insurance payout this week, where I'll allocate to vanguard cash fund and put some more into GFT for the possibility of short positions.