Tuesday, August 3, 2010
We opened a short trade on the ALSI
We opened up a short on the ALSI at 25706, and another short on 25690.
Our stop loss level is at 25900.
Safe trading
Our stop loss level is at 25900.
Safe trading
Good news and earnings pushes market upwards
Yesterday's rally can be attributed to earnings reported by HSBC, which reported that profits have doubled, as well as better than expected results from the ISM manufacturing PMI from the US.
Currently the ALSI is up 49 points from yesterdays' close.
Pending home sales released at 16:00 today out of the US will be something to keep an eye on.
Safe trading
Currently the ALSI is up 49 points from yesterdays' close.
Pending home sales released at 16:00 today out of the US will be something to keep an eye on.
Safe trading
Monday, August 2, 2010
Market continuing its rally
The ALSI opened up by 1% this morning, influenced by Asian markets that shrugged off the negative US GDP news from Friday.
As long as equities rally, we will continue to see Rand strength.
Driving the markets today is earnings from HSBC and BNP Paribas from European banks.
The market was up just over 9% last month and is continuing it's rally.
Currently the uptrend is still intact, but the market is getting overbought. Be cautious for a bit of a pullback.
Safe trading
As long as equities rally, we will continue to see Rand strength.
Driving the markets today is earnings from HSBC and BNP Paribas from European banks.
The market was up just over 9% last month and is continuing it's rally.
Currently the uptrend is still intact, but the market is getting overbought. Be cautious for a bit of a pullback.
Safe trading
Friday, July 30, 2010
Anglo resumes dividend
We went short on the ALSI this morning and have closed half of the position for a tidy profit.
We'll let the other half of our position run, or if the market turns around again, execute our stop loss for a free trade.
Results this morning from Anglo American stating that net profit slumped 31%. A dividend of 0.25c or R1.83 was declared, but is lower than an expected dividend of R3.00.
The market reacted to this driving the price down almost 2% from yesterday's close of 29590.
The markets are awaiting news from the US with their GDP numbers out at 14:30 to give the market some direction. An figure of 2.6% growth is expected.
We are currently watching from the sidelines to see how the markets react to the GDP figure later this afternoon.
Safe trading
We'll let the other half of our position run, or if the market turns around again, execute our stop loss for a free trade.
Results this morning from Anglo American stating that net profit slumped 31%. A dividend of 0.25c or R1.83 was declared, but is lower than an expected dividend of R3.00.
The market reacted to this driving the price down almost 2% from yesterday's close of 29590.
The markets are awaiting news from the US with their GDP numbers out at 14:30 to give the market some direction. An figure of 2.6% growth is expected.
We are currently watching from the sidelines to see how the markets react to the GDP figure later this afternoon.
Safe trading
Thursday, July 29, 2010
Watching carefully from the sidelines
We closed all our directional short ALSI futures positions yesterday.
The market is in consolidation phase, ZARUSD 7,35, Gold 1165 and DOW down half a percent. We are sitting on the sidelines at the moment and looking for a down leg to the market. When the break occurs we will start to sell short with all stops at 2 x ATR. (one MUST always have a stop on ANY short position)
A bit more later during the morning.
The market is in consolidation phase, ZARUSD 7,35, Gold 1165 and DOW down half a percent. We are sitting on the sidelines at the moment and looking for a down leg to the market. When the break occurs we will start to sell short with all stops at 2 x ATR. (one MUST always have a stop on ANY short position)
A bit more later during the morning.
Wednesday, July 28, 2010
ALSI trading lower
We've opened a short position on the ALSI at 25333 and we're keeping our stop close at 25330 making use of the free trade principle.
We'll continue with our free trade that we have at the moment, and will add to our position if the market continues in our favour.
Safe trading
We'll continue with our free trade that we have at the moment, and will add to our position if the market continues in our favour.
Safe trading
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