tradersams blog

SPN:  I closed my position in SP Ausnet last tuesday at $1.00 for a 7% loss from System B.   This share seemed to be tracking along nicely then took a bit of a dive – which is usual in the current market.  The give away that the situation may not improve was the letter in the mail offering me more shares at $1.00 due to a capital raising.  My last 3 capital raisings have lead to completely flat performance, followed by little to no price recovery – I’ll bail this and look for other opportunities.

MTH:  I opened a  position in Meritage on the NYSE last tuesday for System B.  I haven’t done many trades on the US stock market, but I can see that changing at least a little.  Running my searches across the SU markets is showing me some good looking trends, which I will try to capture over time.  It would make sense to determine a portfolio mix across markets – I just need to find the time to get to that!

MMS:  I opened a  position in Macmillan Shakespeare today at 11.10 for System B.  It showed up in the weekend scan for the system and looked a bit promising, and the order was placed last night (Sunday night).  As you can guess I didn’t really look at the market close across the world last friday – and things closed poorly.  Germany down ~3.5%.  Doesn’t bode well for the week…  Overall this share is just peeking into a long term high – normally a good sign but will have to keep a close eye to see if the greater market sentiment drags it down.

AGO:  I had my position closed on me in Atlas Iron today as it hit a profit target.  The short trade was closed at $2.00 for a 7% gain.  In this case I set $2.00 as a profit target as the price was rejected from that support level 2 weeks ago, and has given the impression that the support will hold at that point – it’s a solid round number.  Either way, nice profit off a quick trade.

Let’s see what the rest of the week has to show for itself!