Archive for the ‘whc’ Tag
end of week – open sxy, short ago, stopped out whckob
Leave a commentThe 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 … quite a few
Today I opened a number of positions – more than usual, but a few showed up in the scans.
WHCKOB: Opened a long position in Whitehaven Coal today on System B at $1.835. This is a warrant for a leveraged position – I trust this one will go a little better than my recent foray into a warrant in BPT. Whitehaven is a share I have owned on and off over time and it appears to have strength at the moment.
(update – I replaced the diagram to the right for WHC at I had pasted in the incorrect image – it was a daily chart, rather than the weekly chart I use for System B – 18/4/12)
LMC: Opened a long position in Lemarne Corporation today on System B at $0.75. I only got a partial fill on my order, but will sit on my order and wait to get filled at the moment as the overnight market looks decidedly bearish.
This also looks to be my riskiest position today, as it has climbed dramatically recently (the graph only shows the recent ‘flagpole’ however there was another shortly before this, on a weekly graph). Risky position, thinly traded = small position.
LSA: Opened a long position in Lachlan Star Corporation today on System B at $1.70.
Lachlan looks like it may have formed a flag, implying that this position is halfway up the flagpole. Over time I have stopped trusting too much in chart patterns, however I haven’t totally discounted. I need to get out my Bullkowski book and check up no the probablilties and see how the various patterns track.
SPN: Opened a long position in SP Ausnet today on System B at $1.06. SPN has pushed out the top of resistance, and seems to be dipping back a bit again.
I’m looking for a continuation of the march forward from the top of the triangle.
AIA: Opened a long position in Auckland International Airport today on System B at $2.00.
Auckland Airport is having a steady increase so will look for this to maintain the forward momentum.
SAI: Opened a long position in SAI Global today on System B at $5.19.
SAI Global can be a less than exciting share however it is now making new highs. This is usually an exciting thing for my Plan B as I am looking for continuing increases from here.
All that said – I realise this is one of my more bland updates. Too many positions and too late at night to worry about getting too flowery! Its really a case of seeing if some of them rise and return a couple of dollars to the kitty.
Night!
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