Friday, 22nd May, 2009
Overview:
Reasonable sell-off across the markets. General depression in prices across most sectors. Not a major sell off however with prices rebounding in the last half hour. I wouldn’t be surprised to see a reasonable up day tomorrow however I haven’t positioned the portfolio particularly bullishly. I expect next week to be down or sideways – which would be healthy for a continuation of the bulls. An odd divergence occurred today in the form of strong dollar weakness but a dropping in commodity prices. Equities down hard but the NZDUSD was still up – this is very odd.
New Trades
Option trades:
RHT – long June 20 calls at $.78
– Formed a textbook flag after breaking resistance.
Stock Trades:
FX Trades:
USDJPY fallen off sharply – missed a great entry point. Still trying to get in but just cant pull the trigger at these levels – ideally there would be strong dollar strength tomorrow providing entry.
NZDUSD is still remarkably strong. Forming a 6 month head and shoulders – I think this has potential for a big rally in the next two to three months. Any break above 61 ill look to enter with a target of the high 60’s.
Trade Track
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