Friday, July 16, 2010

3 More Shorts Added

Added the following 3 shorts, after closing my asx200 position prematurely with a small profit intra-day due to a trailing stop loss that I had to position due to being away from my computer for a 2 hours.

Two bearish themes: oil for the next week, and financials for the 1-4 weeks - I do believe the financial earnings in the US will come in weaker, and MQG will see another retest of 35 before going higher.

Trade 350 OSH 700 short @ 5.89
Got into this one again after stopping out @ 5.85 earlier in the week. Still bearish Oil. Stop @ 6.01.

Trade 351 MQG 100 short @ 39.48
Playing the short term downward momentum with a selloff in financial sector expected over the coming weeks. Stops above 40.00

Trade 352 ANZ 100 short @ 22.57
Adding the beta of the portfolio with this position rounding out the week's shorts.