After watching NCM's erratic moves over the past 6 months, this time I decided to take profits when sudden moves occurred. Hence, with NCM up over 3% today, I closed my NCM long trade from last week to lock in the profit. Part of the reason for taking profit today was that I was wary of NCM's sp spiking up intraday and collapsing downward again, plus the Gold price was at 1285 earlier today, then flattened out at about 1282. By the end of today NCM's sp closed up marginally higher than my exit sp. Hence, I thought ... that would be right, I have closed the long trade too early. However, Gold has fallen from 1282 to less than 1276 during the last 2 hours. Hence, perhaps by tomorrow morning I will find that closing my NCM long trade today will have been the best choice.
Still not much on offer for new short opportunities at the moment. Some shorts are obviously doing well, AGO for example, but these shorts are too late to enter.
A few possible long trade entries are beckoning, FLT and BHP for example, but I am wary that these long trade entry opportunities could be sucker punches.
