Archive for March 20th, 2012|Daily archive page
today – open cmj (pyramid entry)
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pyramid entry - cmj
CMJ: Opened a further position in Consolidated Media Holdings today using SystemB – this was a pyramid entry into an existing position. For the purposes of tracking here I will simply track this entry. This entry got in at $2.96.
Looking back on my entry, I suspect I should have held off for an entry ~$3.05 to avoid any round number resistance. I have taken on slightly more risk than I intended.
This is a nice looking breakout I am trading, however I don’t see this as having huge potential as it’s a media company – but, oh well, the system found it, so let’s see how we go.
today – open bpt
BPT: Opened a long position in Beach Petroleum today – I entered with a warrant to gain some leverage. The instrument I used was a warrant BPTBOK, with an entry at $0.395 – I have the dubious honour of being the only purchaser today. This is a SystemA trade, which is a longer term trend following system (the first one of these written up since coming from hibernation).
Again this is a share that I have previously entered – in fact, this is one share that has popped up in my SystemA scan a couple of times over the last year of so – and given only two members of the ASX200 have shown up in about a year, it is a bit of a rare beast.
Note that I am using a warrant as the tradeable instrument, but for the plan I trade the underlying share, and take signals from that – hence the share price graph here.
Anyway, I’m off to bed – I need the ears to calm down – I saw Duran Duran tonight, and actually felt young in the audience.
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