Archive for September 29th, 2009|Daily archive page
today – open HST, REH
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Reece 29-9-09
REH: Opened a position in Reece at $23 which makes me the recent high – hope I am not the one caught out in the wind! The risk with this share is that the market might be a bit thin if I need to exit, so only a small position.
I’m able to set a fairly tight stop here due to the closeness of the trendline.
Looking at the market depth there are very few buyers in the market, but there are a fair number of sellers. In fact until a trade went through at market close, I was the only buyer today in this share.
Hastie 29-9-09
HST: Opened a position today in Hastie group today at $2.25, which as you can see is climbing nicely – although yesterday was a day of weakness. Again not far off the trendline so easy to set a stop
The market today took off early but really only held the position during the day, with no real movement after the first 30 mins – at least not for my portfolio, which at the moment I can say covers many of the market segments.
Au revoir,
today – close aqa
Aquila Resources close
AQA: Closed my position in Aquila Resources today at 6.71 for a 12.8% profit.
What can I say about this trade? I’m happy with it. I pyramided in 3 times – however if I had it over again the fourth entry (3rd pyramid) was a bit too eager and should have been held off.
The only shame is the price collapse at the end of the day taking my 20% profit to ~13% in a day – too bad – followed the plan though.
On top of this I closed a few positions today in my non documented trades – for the record I followed the plans correctly. Did a scan of the market, and not seeing any strong entry signals in the last day – in general things didn’t go well on the ASX today.
Apparently the market doesn’t give a sh!t about me – I read it at Chart Shark. He seems to write very clearly a number of things I keep repeating to myself, and post about here. From the entry:
- What Can You Control?
- The only thing you can control is yourself. You can not control the market, but more importantly, the market can not control you. Only you control when you enter and exit the market.
I recommend you go read his article and absorb it. I will leave with this closing comment from Chart Shark – “The market will do what the market will do, with or without you.”
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