ThursdayFiled under China, TheInflationist StockPicks
The March rally continues as markets go balistic tonight. We have been sitting on the sidelines watching our portfolio grow. Our China position is now up more than $1000 on a $2/pt position (we originally had $22/point!). Hindsight is a beautiful thing. We need to be mindful to keep our eyes on the ball. Any lapse in discipline could result in significant losses. We will raise our stop loss on China up to 8600. The volatility of China H-shares would almost certainly mean we would be taken out. Meanwhile the Dax is up 4.2 % (4300 at the time of writing), leading the rest of the market and more importantly increasing the gap between FTSE and Dax to 250. We close both Dax and FTSE to book $530.
We short Dax at 4340 (up 5%) at $2/point – very light just in case theres more upside to go. Our indicators suggested a down night but looking at how bullish the market is, it is unlikely for the gains to be completely reversed. I think the market has spoken and it wants to go up! That said, 5% move is a huge move – but we have seen the Dax go crazy before so stay light.
All entries filed under TheInflationist StockPicks
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