tradersams blog

mcc close

MCC:  Closed the position in Macarthur Coal at 8.30 for 11% gain.  Followed this plan well – MCC has been good to me (not that it cares a toss about me!) and I will continue to watch.  Trailing stop loss plan has been effective for this, but I did expect to get the target at the medium term resistance you can see marked in the diagram

mre close

MRE:  Closed the position in Minara Resources today at $0.92 for an 11% loss.  This is unfortunate as the share was a winner for a fair period of time before it dipped into loss territory.  I passed off on the first exit point (penciled in green) as the share fell below the trendline I had drawn – this has proven to be a mistake.  I took the exit today after the share closed last night below my stop loss line.

Anyway ttfn – a hard to read week this week – I can see some long and short positions.  Lets see what happens in the US tonight and I may place some positions before going to my real job in the morning.