This thread tracks real trades in one of my portfolios. Refer to backgrounder for more info. I made a few more moves than I expected this week. Hopefully, I can get on the right side of the trend. Let’s take a look at the trades.
First of all, Cresud is fading fast. I have placed a stop loss order right underneath the trend line at $17.69. So, either it is going to turnaround fast or I will be taken out on Monday or Tuesday.
I am back in CEF. I made two purchases – one on Wednesday and the other on Friday. I allocated 20% to each trade. I might be jumping the gun a little. I typically like to buy stocks as they move up through resistance. You can see from the chart – why I think I may be early. I believe that the big black candle is a bad quote – that’s why I drew the trend line through it. I will be watching this trade closely. I am prepared to bail out on a close below Wednesday’s low.
The final move for the week was a purchase of BHP. Once again I breaking my pledge of ETFs only (for this portfolio). BHP is the world’s largest mining company. It mines every commodity imaginable – Copper, Zinc, Uranium, and many more. Since BHP is so diversified, it’s almost like an ETF. This one has clearly broken through the resistance.
I am still trailing the S&P, but if the wind starts blowing – it won’t take long to catch up.