Friday, 13 May 2011

Closing BTU

Had to bail on BTU today taking a pretty big loss as there's no love for commodity related shares at the moment, and its hard to know how big this correction is going to be. With the Greek issues and surging dollar putting pressure on OIL and other commodities I thought it be best to take the hit on this and look for something better. Its been a mega losing week for the Euro as we breached 1.41 today, I haven't seen such a heft fall in a long time. We have literally dropped 900 pips in a week on the Euro/dollar. Hopefully some good opps present themselves next week.

BTU entry: 64.80
Exit: 58.30

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