Typical, a lucky break comes with Tuesdays Glencore announcement for RIO, then the markets get hammered in New York overnight. Consequently RIO dives this morning. Hence, just in case there is another rout in New York tonight I closed my RIO long trade before all of the paper profit disappeared. Had I closed the RIO trade late on Monday the profit would have been double. I also closed both the BHP and FMG long trades today for small losses as I was feeling uncertain about the bigger picture.
Lately my ETF trades have been travelling reasonably well, not spectacular, but ok. Maybe I need to stick with ETFs for a while rather than ASX stocks. It is often said that it is best to stick with what works for yourself. However, in the past my trading with ASX large caps such as BHP, RIO, FMG, CBA, etc. had worked quite well, but just not so good lately.
