Tuesday, August 3, 2010

Action Day

Today was interesting as I got stopped out at the opening of COH, and saw it swing back 2.00; a gut wrenching intraday move - I have to consciously remind myself to take off all my stops on the first 10-20 minute market opens where overnight prices are greater than 1.5% moves - these market opens tend to be good for overpushed bids on shorts and vice versa when market is down overnight.

CIL finally looks to be moving higher - it only seemed a matter of time before the ratings of online bookmakers follows the UK counterparts following the massive partygaming/bwin merger announcement. It's been an obvious fact that consolidation is the key play leading up to the much anticipated UEIGA deregulation.

Online gaming will also be joined by its non gambling counterpart, computer gaming as ATVI is starting to make it's move, and I plan to enter some aggressive longs on a breakout above 12.00. With the starcraft 2 titles being sold out everywhere in Australia - I wonder the response in demographically heavy regions like Asia how the response is to the game.

Trade 379
20,000 AUDUSD short @ 91.11 : playing the RBA announcement
My aud trade didn't work out earlier - getting stopped out 90.44 - however I re-entered the position using the RBA announcement of keeping rates on hold - even though the market had expected this result, it still gold sold off fairly quickly and I entered the short 90.11 and have stops at that level. An overnight fall in sp500 with USdollar rising willl make this position a good one.

Trade 375
I re-entered AXA at 5.35 but with more exposure of 930 this time around. The key risk is the earnings report in 2 days, but most of the earnings downgrades have already been talked about in the last few weeks, as long as divvie remains the same the risks are to the upside; assuming the takeover play doesn't fallout.

Trade 378
I shorted 50 RIO@72.88, with half yearly results expected to be released in 2 days - another gamble in itself - the way the FMG has responded to output and the current run-up in share price has the downside favourable to the stock. Technically saw the failed breakout which just above 73 is where we put stops.

Trade 376
Short 500 AGK @ 14.92
AGK seems to be a steady stock with a cap at 15.00 - this is another stock where I feel could provide some good short term short exposure if the market falls over.

Trade 377
Short 500OSH @ 5.98
This is another stock that has macro headwinds with oil breaking out above 80.00 - I'm looking for an overnight reversal in oil - otherwise this position will be closed by tommorrow.