Archive for August 20th, 2009|Daily archive page
today – close roc, iif
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roc close
ROC: Closed Roc Oil position today for a 3% loss. Followed plan fairly well, but actually suspect the plan was not a good as it could have been. The share has bounced off the rising trendline a few times over the course of the year, and I should possibly have exited a couple of days earlier when the trendline was breached.
Anyway – all in all not a bad trade.
iif close
IIF: Closed my position in ING Industrial Fund today for an 11% gain (down on the 43% it was sitting at a few days ago!).
Anyway – stick to the plan – a profits a profit. I will continue to watch this share as the volume seems to confirm the price action particularly well on this share – and its my view that the volume confirmation isn’t as strong on Australian shares as I see on US shares.
today – open aoe
aoe open
AOE: Opened a long position in AOE today at $4.45.
I have to be reasonably comfortable with this entry – the share has broken through earlier resistance to make all time highs in the last couple of weeks. The share generally trends well which should make it easy to track.
As for general observations today, the market was going strong in Australia early in the day, however got that bearish sign – a general collapse later in the session. As I look across at the opening of the US markets I can see the market opening down 1% but recovering quickly and seemingly to -0.1% then down again within the first half hour of trade. Volatility is around, and predictability seems to be dropping – for me anyway.
So what to do? Ignore the noise, focus on the charts!
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