The Big Boys, page-532

Hi kirolos. I am all short at the moment, no longs. Just closed my Caltex short in the last hour. I may re-enter short in a few weeks but looking to use the cash freed up to add more short positions this afternoon. I still have shorts open on MQG, QAN, RMD, BXB. Researching CBA and COH for shorts.

The current potential longs that I'm tracking for a possible entry are BHP for a run back up to $22.65, but can't get a good entry so far. Also Org is my favourite potential long and I will reinvest, but I closed my long trade a couple of weeks ago and waiting for a pullback and to raise some cash from other trades before re-entry.

I'm very nervous about market risk and won't be comfortable going long generally until the US has a decent pullback. I think the past 8 weeks has been a Counter-trend in a bear market and i want the market to put in a higher low to prove to me otherwise.

I generally avoid spec type stocks like 1PG, particularly in the current market where I'm having too much fun trading mid to large caps, which is more my skill set. Others on HC are better at those type of stocks. These stocks are less exposed to the overall market moves and need more FA analysis. I'm not a good person to follow if you want to trade these, as my trades are all leveraged with 1 to 5mths holds, but I might say I'm taking a position one week but close it the next, so just be careful on anything I analyse and comment on that your timeframe and trading setup is compatible with what I'm doing.