personally i think Europe is a lunatic clown-show and Germany will have it's revenge via the teachings of Karl Marx ( even if half the leaders seem to impersonate Groucho Marx )EOW Update
What a week, who watched the WTC share price, I sure did and I made a small trade on Tuesday to capitalize on it (not included as a part of this portfolio).
An ASX concern for me has been the continued default in Chinese off-market private bonds, it shows just how weak the Chinese economy is. In the long term even having the state/local governments step in and buy excess property, it simply isn't sustainable. I hold strong concerns about the price of Iron Ore at its current levels (in the absence of some of a global conflict ceasing and a mass rejuvenation process being required). Watching to see if we find Iron Ore fall back below $90.00 and if so, to re-enter into FMG for a swing trade.
Also in sad news, our DUG position was liquidated by a stop loss at $1.90. Have left DUG on the watchlist, all though I feel like we will be washing our hands of this stock in the near term, preferring to allocate the capital in a different direction (more on this later).
None the less here is how we are sitting;
Profit/Loss
View attachment 186555
^important to note that the % return has increased as a result of the decrease in overall portfolio value (all though AAL is performing well.)
Weightings
View attachment 186556
Looking Forwards
As we can see it is notable that our Diversified Growth allocation is underweight by ~5%, its also important to note that this gap was bigger (prior to the liquidation of DUG). Following November 5th or a major drawdown a position will be entered to gain more exposure externally to Australia.
I have previously lent towards MQEG however I am now heavily considering splitting an approximately 15% position across the S&P500 (7.5%) and Europe (7.5%) evenly, in currency hedged positions (ETFs). Currency hedged as I am confident in the strength of the Australian Dollar in the back half of this year as other neighboring nations cut (especially Europe)
Also I am very happy to be overweight property at the moment, despite the interest rate setting, the following article in the AFR has further reinforced my confidence;
View attachment 186557
As a younger employee who attends the office 5 days a week (by choice), I am seeing the trend move in this direction across the board. Hybrid office attendance is making a comeback whether employees like it or not (by hybrid I am referring to 3 days a week in person).
Onwards and upwards, until next week.
now being an employed person , you may have missed a major BRICS(+) initiative , the plan to set up their own international commodity trading exchange ( outside of the US dollar, euro, UK pound ) .New Trade
I was on the train into work this morning (I have been following the price of OOO over the last few weeks), and saw the ~6% decline in crude oil as a result of Israel's tame response.
I personally still see the middle east as a powder kegg that could go off at any minute. Given this I have viewed this as an over-sell-off. I see the Crude Oil price rebounding in the short term, and I feel fairly confident about that. None the less here is the trade;
Position
Stock Code: OOO
Average Price: $5.246
Stop Loss: $5.00
Trade Weighting (as a proportion of P/F weight): ~8%
Watching the price of oil and will be tuned into the markets tonight. Will sell this within the next few weeks, I also see the presidential election as a potential catalyst for some more oil volatility.
Onwards and upwards
Bossmans.
Not a long term position, so just a trade. But something to be mindful going forward and when looking at energy stocks listed on the ASXnow being an employed person , you may have missed a major BRICS(+) initiative , the plan to set up their own international commodity trading exchange ( outside of the US dollar, euro, UK pound ) .
INITIALLY they plan to trade grains with member nations , but given the official ( and new members ) how long before they include oil/gas/coal/uranium
so please be careful
and by the way they seem to be talking delivery contracts only ( no derivatives )
IMHO - OOO can be a little volatile (jumpy) like to POO. WTI can go lower eg <$65 and this may send OOO closer to 5.00. An exit stop this close may or may not be hit. My exit price is much lower and I'm prepared to buy more if OOO gets near 5.00 and more if it trades near 4.80 (WTI ~ $60). In the medium term (1 - 6mths) I should profit from this position..
I would agree indeed on OOO: trade yes, but not investing.For What it is worth--- Stops don't work in most Aussie ETFs
I found the OOO Horribly Unseaworthy as you are Playing against a Market Maker whose Job it is to BUY and SELL to Himself /Herself or itself to Make a Market and FOOL you to THINK there is VOLUME in this here Market
Sailing the OOO ETF----One WEEK at a Time-----&--------------One DAY at a Time-------------------------&-----------10 MINUTES at a Time
View attachment 187176
NB: the Gaps on the last 2 Days on the 10 MINUTE chart ---- Note how there is Almost NO Market/ VOLUME During the day
You are always Welcome on my "Ship of Fools"
Salute and Stay Safe
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