HI Flem - you look to be trading like a pro, getting rid of stocks that are not going your way and sticking with the winners
CSL - yup - still in down trend -.... I got a short on this yesterday and got off not so long afterwards when I could see the price moving quickly against me....
I favour shorting WOW in preference to WES..... WOW should take a big hit on the Masters start-up over the last couple of years I think, whereas the competition to Bunnings from Masters don't know what the outcome might be there...
also WES will make a 700m. to 750m. profit on the sale of their insurance arm to IAG, which will be booked in this financial year' profits .... that will very much offset the much smaller losses from the coal business, which is not a very large percent of the whole anyway. .....they are both likely to take hits on their clothing and apparel etc ie. Big W and Target, but their duopoly and ever increasing profits with the supermarkets I think wont change....
I am looking at FLT as a long..... it seems to have settled now and is inching up a bit..... it financials are not to bad and the analysts like it also......I have just started using the "On balance Volume" tool set at 5 days as an indicator as to when a stock might turn - it seems to match the price movement.
I would like both HVN and MYR to move up a bit more so that I can load up with further shorts... might have to chase MYR down a bit..
I wondered how you would be re-acting with the wild ride on JBH, and it sounds like with very quick reflexes.... did you really take up a short at the top of that stick ??
the iron ore minors - see that you have shorted FMG..... I have short bids on FMG and MGX but at the top of their trading bands.... took out a short on AGO yesterday also.... they are each only for very small amounts at this stage - there's always a concern about a retrace in the price of iron ore, although the news coming out does not suggest this.
the smaller miners are having to sell there ore at up to 10% discount to market price due to their lower grade ore which is now bringing the price received down much closer to production cost .
