Tuesday, 4 August 2009

taking some profit

L: 24% S:99% G: 124% N: -75% ~ $D -4% $P 0.35%

The Raven sold out of most of his long positions yesterday, it was just too tempting and too much of an easy trade to take profits. NRG has had a great little run and its sitting at the top of its channel, he still thinks its massively undervalued but it runs a much larger risk of a pull back from the 28.6 level he sold at.

He increased his short substantially in MCO during the day, only to have to cover that increased size at a higher price unfortunately, even after that its now the biggest position in the portfolio.

The Raven's still in catch-up mode but also trying to open his eyes to some new ideas, themes and trends. He also looked backed at his 10 predictions from the start of the year, well lets just say he's pleased he doesn't have to trade on a 6 monthly time frame as 3.5/10 is something he'd almost bet against.

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