Eoin personal portfolio stock market longs closed, commodity long opened
The Hong Kong market pulled back sharply this morning and the A-Share Index looks susceptible to some consolidation. I concluded that the risk of a pullback and potentially a better entry point outweighs that of imminent additional upside so I sold my longs in the FTSE/Xinhua China A50 Index at 8400 against my rolled over purchase last week at 8121.
Silver has been pulling back persistently since I took profits on my last long position in July; falling almost 30%. Today’s upward dynamic confirms at least short-term support in the region of $15 and a sustained move below last week’s low near $15.40 would be required to question medium-term scope for a reversionary rally. I opened a long postion in the March contract paying $16.73 including spread-bet dealing costs.
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