David Fuller's view

I sold my last and equally largest position in Glencore Plc this morning.  The alternative was to place an in-the-money stop but this share has regularly shown 10% plus daily price swings in both directions.  Consequently, I sold my last June position at 112.16p, versus my purchase at 85.26p on 6^th January.  These prices include all spread-bet dealing costs. 

Glencore is now short-term overbought, as you can see from these stochastic lines on the daily candlestick chart.  I would probable consider buying it back following a consolidation which also created another short-term oversold condition.  That obviously depends on what markets do.  If they remain nervous, I may have the opportunity.  However, if they somehow revert to normal, on average, seasonal characteristics, resources stocks could continue to push higher.  After all, they are the one sector where almost no one had long positions and many people were short, unlike the former upside momentum plays which have encountered some significant profit taking this year.