Archive for the ‘ago’ Tag
recent – close spn, ago – open mms, mth
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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!
end of week – open sxy, short ago, stopped out whckob
The damage to the portfolio continues. On friday I had an entry found on a current position, and had another warrant position go pop! Commentary below.
AGO: I opened a short position in Atlas Iron on friday at $2.14 using a short CFD position. The trade came from System B. I’ve held off short trades for a bit, based on a couple of factors.
In Australia at the moment it can be tricky to put on short trades. The options for short trades come down to option positions, warrants, and shares that are shortable via a CFD – the usual short market seems to still be fenced from retail traders.
When my system comes up with a short trade, I then need to try to locate a mechanism to take the trade, and that is combined with my past history of some unsuccessful short trades. That said, when I did do short trades in the past, they weren’t based on a system. Let’s see how this one goes.
SXY: I opened a further position in Senex Enegy on friday at $0.75 on System B. This is actually pyramiding into a losing position, and generally not a good idea.
The entry was based on a decline of 61.8% from the recent high in SXY, so a bounce at this point is a reasonable expectation – it looks like it has taken quite a hit in the current market, so this is taken with the view that SXY has over-corrected. Will watch for a bit and see how this plays out.
WHCKOB: During the week I was stopped out of the Whitehaven Coal position, as this trade was done with a warrant that had an inbuilt stop loss.
Lets watch those stop losses this week.
update 5/6/12 – corrected my AGO entry price. Unfortunately the correct value is a smaller gain 😦
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