Tuesday, July 17, 2012
Update on positions in stocks
Deutsche Bank was a money maker for our shorts as recently it dropped down to around 25.20). We continued to short this stock at different levels to finally close it @ 25.69 end of last week (a bit too early) but we are monitoring it continuously.
Ahead of London Olympic Games 2012 we opened long position in Nike expecting it to close the gap seen on the daily chart. Shall it find the support @ 93.00 the odds are on our side.
Ross Stores Inc.
Recent strong performance by this stock (a chain of American off-price department stores) - especially very good recovery, climbing back above the 20, 30 and 200 day moving averages [see chart] and attacking the all-time high made us open a cautious long position here.
Similarly to Ross Stores, we considered Tesco shares as an attractive investment. Recovering above 20 and 30 day moving averages and being far from 200 day moving average - which capped the share price here for nearly one year with exceptional peaks - makes the risk/return ratio rather attractive.