Friday, June 29, 2012

Barclays Plc. 

On 28 June, we opened a short position in Barclays after news came out that the bank was fined for around USD 452mn for attempted manipulation and false reporting relating to two global benchmark interest rates. So we opened a short position at GBP 189.60 and we bought back on the same day at GBP 169.

(see chart at entry from 28 June)


We opened a position at EUR 51.4 on Wednesday, because EUR 50 might function as a support level. Our target price is EUR 53.2, a former local high.


As festival season is approaching (and we expect the 200-days moving average to be a strong support for the price) we decided to go long in Heineken on 21 June and opened a position at EUR 32.55. EUR 34.0 can be the point where we take profit into pocket.

Bank of America

The decisions of the EU summit gave some positive impetus to all the stocks, but financials managed to profit most from it. We decided to open a long position in Bank of America at USD 7.98. Our target price is USD 8.20.


We went long in Colgate-Palmolive at USD 102.74 on 29 June. USD 102 was an important resistance level. It tested it three times already until it finally broke it through and hit a new historic high. We would consider closing the position at around USD 106.

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