Back into this bloggy thingy for those that lurk in these things.
New trades yesterday
- BSL 5K @ 2.20 - simply back to levels not seen for X years, div to match
- spot gold cfd 2 mini's @ 905 - gold price velocity seems to have slowed, maybe a tradeable bounce here
Still, the US unemployed ranks are going parabolic, maybe Oz will do the same, for many years to come so not yet for boots n all long?
For anyone who actually reads these things, I thought I would detail what platforms, software etc I use. It would be good if everyone did the same so we could see where we are coming from in our posts.
Etrade - via webiress
Comsec - via normal, inept, website (currnetly in dispute over penalty fees )
MF Global cfd's - via etrade - for share cfd's
IG Markets - cfd's - for commodity and index cfd's
Ditched ZFX, for 5c loss, just lost all momentum in the afternoon sell off. Still the t/o possibility?
Long gold again on this morning's sell off.
Once in a while a day like today comes along with lot's of opportunities for contrarian trading.
Always on the look out for the 'waterfall' set up - pronounced sell-off followed by cautious rebound.
Took a few longs on gold and XJO at the base of their respective waterfalls, so jagged some lunch money.
Also took an long entry on ZFX (14.93), both from oversold intraday and t/o potential aspects.
Got stopped out of my 'set n forget' XJO short trade (6690) last
It's always interesting to watch the market in action on an intraminute timescale, especially when the Lemming crowd come out to play. You can pick a stock where the fundamentals have changed very little from the last announcement yet the share price takes on a life of it's own based on herd mentality, greed or rumour?. Even more so when it's pushing the all time high record into blue sky.
For example, watching JBH today. Some brave Lemmings came out to chase the price to about $13.33
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