I am up to the portfolio update 100 and it is good to see your comments indicating that you appreciated what I am doing. I am hopeful the markets do their bit to celebrate this post and continue their way up. After having a really good week the week before last, the Australian share market continued to advance, although by a much smaller level. This led to many more buying opportunities for next week and could mean some healthy profits in the near future. If the indicators are wrong however it will mean that the portfolio goes into negative territory for the first time.
Before I went away I mentioned that I would like to change the way I present the portfolio. Rather than always buying 10k worth of shares, I will use a percentage of the capital I have available for any purchases. This will give a better picture about performance as any profits are re-invested. Unfortunately having just returned from holidays I have been a bit busy this week and will set this up in the next two weeks. So for now any news buys will still be added to the existing portfolio. I will however transfer them to the new one once everything is set up.
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Categories: Portfolio, Trading Updates Tags: anz, apa, axa, boq, hvn, ORI, sto, wbc, wes, wpl
We are back from our extended holiday to Europe and had a fantastic time. The way it looks I didn’t miss much in the market and we picked the perfect time coming back. Looking ahead I can see many buying opportunities. Let’s just hope the market has found its bottom. Whilst overseas I occasional looked at the different indexes, one day 2-3% up and a few days later 2-4% down. Crazy market conditions. The German and the Australian index haven’t made a new low for some weeks now making me hopeful that we have seen the bottom.
Looking through the charts this weekend I could see many bullish bars indicating the same. And for the first time in months there are a number of stocks ticking all the boxes (according to the HSC) for a buy. If the upcoming week remains positive there will be plenty more joining in. Whilst the market is volatile though, it might be worth to look at a slightly different strategy to determine the stop loss. David teaches to never risk more than 15% on any given (HSC) trade and if the turning point is closer, use the turning point +1% as the stop loss. There is nothing wrong with this approach, especially if you are just starting out.
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What a week, not because of trading, but I am juggling a few things. I have embarked on a 10 day Bikram (hot yoga) challenge, which is doing one Bikram yoga class every day for 10 days. I am 4 days into it and I am feeling fantastic, apart from sore legs and feeling a bit tired at the end of the day. This combined with normal work load and family make things quite busy.
So I keep it short today, the Australian market made a new low during the week, but finished the week slightly higher than the week before. As I was still waiting for TAH’s (Tabcorp Holding) adjusted data, I noticed this week, that TAH was a sell on Monday, and the week before a sell half of the holding. Overall TAH was sold with a .46% loss and adds to the recent string of losses. Apart from this I have a number of stocks that have given the sell signal with two closes below the uptrend band. They are APA (APA Group), BLY (Boart Longyear Limited), TCL (Transurban group) and WPL (Woodside Petroleum). TCL is marginal and it really depends on the position of your trendband.
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