Archive for the ‘sxy’ Tag
recent – open btr (short), close sxy
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BTR: I opened a short position in Blackthorn Resources on friday at $1,11 using a CFDs. The trade came from System B. The share has broken lower from an equilateral triangle. Favourable factors for this trade – dominant downward pressure on the market at present, System B flagged the trade. Against the trade – well I can’t see much a volume confirmation. As noted before I don’t usually get too fussed about volume, so maybe I am jumping at shadows. Lets see how the position plays out.
SXY: I closed my position in Senex Energy today on System B at $0.84 for an overall 15% loss. (This is a blend of the initial and pyramid positions). Not a good trade at all.
This trade is a great example of ‘doubling down’ on a losing trade. Enough of the trading books I have read say not to do this – and there’s a reason: It’s a BAD idea. Writing this is my attempt to program this into my brain… I haven’t done it in a while, and its to be avoided.
Only pyramid into winning trades!
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 😦
today – opened sxy, gnc, bptkmb, mix
Todays been a down day on the ASX. I placed my trades last night (Sunday night) and came home to see what positions I had taken up. Always a risk as I can’t see how my positions are dealt with, and I am placing them without taking advantage of any price dips during the day.
SXY: I opened a position today in Senex Energy under SystemB . This is an entry on the weekly momentum system. The entry price was $1.145.
You can see the earlier trade I had in Senex which was recently closed out, and very profitable. The entry today would imply that the trend may continue. Looking at the graph updated with todays price it looks like a tweezer top / double top may be forming – so I’ll keep a close eye on this one.
GNC: I opened a position today in Graincorp under SystemB in what appears to be a continuing uptrend. The entry price was $9.26.
I did notice there was a warrant for this trade, however I have stuck to the main equity in this case.
BPTKMB: I opened a position today in Beach Energy under SystemA. I actually opened the position in another warrant against BPT, as I am looking for the leverage on this one. The entry price was 0.435.
In this case BPT again showed up in my trend following system and looks to have turned up from the recent low. This trade is taken on a small investment as the share is developing into a down trend (lower lows and lower highs). The recent dip seems to have come up as a result of the company running a capital raising. The capital raising seems to have knocked the price a tad.
MIX: I opened a position today in Mirvac Industrial under SystemA after a strong close at the end of last week. The entry price was $0.105.
I’ve never traded MIX before so I will have to get a feeling for its personality 🙂
Time for a sleep – I’ll update the portfolio page tomorrow.
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