* the sell off in the US o/night Friday - the DJIS and the S&P 500 down 0.8% and the NASDAQ down 1.75%
* increased action by Russian backed millitants in the eastern Ukraine causing the POG to rise sharply to above $US 1300 again.
1. first priority was to protect the some considerable assets held in the australian share market.
SHL,XRO,VED -long, total 4.5 bites -sold o/a SMALL LOSS (an attempt to profit from the tech stock bounce, brought to a halt by US markets on Friday).
IAG,MQA,WBC - sold half of each - GOOD PROFITS (to protect capital, even though these stocks have all given positive signs of continuing their upward momentum).
IAG,MQA,WBC - half still held- o/a GOOD GAIN (today - even)
2. the next priority was to take advantage of the sharp falls in the tech sector in the US.... five stocks were lined up ready to short, but surprisingly the pre market indicators for three of these stocks were not favourable. the two that were -
REA - short, 1.5 bites - closed out - SMALL LOSS
MSB - short, 1.5 + 1.5 = 3 bites....... - VERY GOOD GAIN (added to my initial position during the morning)
the company has not turned a profit for 5 years and does not look like doing so for some time....it is developing a proprietary stem cell technology for the treatment of orthopaedic conditions such as bone fractures, degenerated knee cartilage and vertebral disc degeneration.
I left the gold stocks alone concentrating on my first two priorities...... NCM went up almost 5% over the day.
