Day 9 … result
What a day … ugly squeeze on interest rate cut hopes and and shortcovering (big time) in the financial sector on Bank of America approaching Citibank for a possible merger … Citi said “NO” … so … they think … ooops … there might be now some value in the sector … Northern Rock will be snapped up … UBS rumoured to have Chinese buying … so a real rout …
Not a good day for trying to short resists … I had one buy signal … was shaken out at a small profit … tried 3 times the short … one for a small gain, two times stopped … losing a total of 32 points
So
Trading days - 9 … Points made -32 … Total 202.0 … Average 22.44
Roundturns - Size x 4 … Total 17 … Average 1.89
Tags: Bank of America, Citibank, financials, result, statistic, UBS
