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Saturday, March 22, 2008

Current Holdings

Thought I should give a run down of my current holdings, given my recent workload, I haven’t been able to be here much.

Currently my open trades are shorts on AMP and QGC, with longs on IPL, NXS and ORI. I have quite a few other holdings, but I don’t consider them open because they are free carried. I also sold out of Potash on Thursday night, which was a small gain in USD, but probably a loss with currency conversion.

…

IPL, NXS and ORI are not in any huge danger, so there is no need to comment on them for the moment. But, as with all things at the moment, it can change very quickly.

I shouldn’t have spoken so soon. I was out of AMP on that following Wednesday that spiked after some fed action. IPL pulled a swiftie, which was not well received, and I was stopped out on the re-open after they announced the charity for, I mean take over of DXL. At least after closing this, albeit giving up 50% of open profit, I’m no longer using any margin, which gives me maximum buying power. This also affected my trade on ORI, and had me stopped out on the Thursday of that week. It’s possible I will be shorting ORI in the very near future. NXS I only closed this Thursday, as I was holding it as a hedge against my QGC short. I no longer saw a purpose for that hedge, and as it looked like braking down, and was below my exit, I left it.

I am now out of all of my mid term trades, and only short on QGC. Which may in turn become a mid term trade.

Posted by Glen at 10:45 PM  

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2 comments:

Have a look at STB on Monday morning. RWD are currently in a trading halt regarding their Lake Disappointment Potash project and STB have a tenement right next to it.

Nice Blog.

Anonymous said... March 30, 2008 at 8:05 AM  

I've got enough potential trades lined up for the moment, but thanks anyway.

Just out of curiosity, how did you come across this blog?

Glen said... March 30, 2008 at 7:50 PM  

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