Saturday, August 28, 2010

Another Timely Move

Ok, last night saw some relief on many fronts for the bulls -

Bernanke came in saying that he will provide more relief to help keep the economy towards a projected growth in 2011.

On that note, the indices were up over 1.5%, oil went over 75.

Initial claims also came in lower, which has lead to the housing stocks reacting well to the bad housing news in the past week.

The market fundamentals still treading a thin line, with the balance of short term action to the upside. To trade the market in the short term, price action rules, then sentiment, then fundamentals and news. Nothing is predictable and I think it's good to always have enough plays to get your risk minimised.

As for Trades -

I loaded up on BHP and ATVI - both for decent stakes and the timing seems perfect if the market rebounds.

the long 5yr / short 10 yr was finally in the green - one or two more days of upswing will see a decent profit there.