tradersams blog

ozl exit

OZL:  Closed my position in Oz Minerals today at $1.19 for a 7%loss.

I opened this share on what looked to me to be a busted dip from an ascending triangle.  Looks like it wasn’t so much busted as indicative… This is the second dip below the uptrend now, so didn’t wait for the close once it was clear it wasn’t coming back.  This may have only dropped because the market is taking a dip at the moment, which is successfully moving me more towards a cash position.

Campbell Bros

CPB:  Well – does this count as an entry?  I have taken on the Campbell Brothers capital raising today, which sets me back $22 a share.  There was some news about a takeover by CPB that went through today, and the share price has firmed up a little – making this apparently a good thing to do at the moment.  If you look here you will see that I was struggling with whether to take up the offer – which has thrown me into a place of not taking a stop.  I’ve decided to manage this by re-triggering my stop loss curve following the recent break.  This counts as a discretionary change to my plan for this trade.  We’ll find out if that makes sense when I close…

IIF fund raising

IIF: Not an entry or exit – another Capital raising!!!  Now this one is worse than the Campbell Brothers one – if you look at the curve I was looking like I may be exiting today as yesterdays price formed a hammer closing just above the stop loss – which didn’t happen – the market for IIF was closed today due to the announcement.  Now I have to go through that analysis again for this company.  Maybe a re-calibration of the stop loss at the very least.

Learning – increased time in a share seems to increase the chance of the company reaching into your pocket for some cash via a capital raising!