Closed remaining SWHC

I closed the second half of SWHC at 3.53 on the market open. I was very annoyed to find SWHC getting smacked 10% on Friday, but that's the way it goes sometimes, and I was glad I managed to take half of earlier so still made some profit.

Markets seem to have resisted the downward onslaught some might expect from the earthquake disaster, but I don't want to hold too much long right now, so might look to close out AGCO soon as its showing quite a bit of overall weakness recently. Will be keeping a close eye.

Stocks Fall, is the tide turning?

I've always gone by the saying trade what you see not what you think, and I see things reversing. We are having more heavy down days, lead by big losses in the Nasdaq especially. Im currently long 4 stocks in the portfolio, and AGCO seems to just move with the market having been up 10% on this I'm almost flat, I'm trying to let things run but in this case didn't work out. I'm looking to short but haven't found anything I like yet so still on sidelines on that.
After the curve shifting last week, spreads have stayed very steady this week with not much volatility which was disappointing given Trichets remarks last week. Its been difficult to leg in and out of spreads with much fluency.
So all in all been a relatively quiet week, although I did trade NZD rate decision and manage to get short and take a few pips which was one of the upside moments.
Tomorrow we have CAD employment and US retail sales for catalyst for the markets, hopefully they will be good.

Stock buy: ATNI

I initiated a long position in ATNI today, after seeing the stock get clobbered in the last few days, and breach the 200- day moving average. Looking at past occurrences of this its shown a good tendency to bounce, so I've put my neck on the line and gone with a bounce, but ill be looking to bail if it does materialize within the next month. The stock has a short interest ratio to stock float ratio of 6.2% and given this isn't actively traded it can push this up if a bounce occurs.

Entry: 31.19
Stop :28
Target 37

Close position: NTCT

Closed NTCT today at 27.02 for a loss. The trade initially worked being 5% + onside before gaining strength on an upgrade and has rallied on both down days this week, which signals the end for this one. Will be looking out for further shorts still, as we are looking top heavy here.

European Bond Yield Curve flattens after Hawkish Trichet

European Central Bank President Jean-Claude Trichet said the ECB may raise interest rates next month to fight accelerating inflation pressures. An “increase of interest rates in the next meeting is possible,” he told reporters in Frankfurt today after the central bank left its key rate at a record low of 1 percent. “Strong vigilance is warranted,” Trichet said, adding that any increase would not necessarily be the start of a “series” of moves.

The trading during the press conference was some of the busiest Ive seen in ages, real volatility and action. Sadly I didn't really maximise my opportunity by getting in on the back of the STRONG VIGILANCE statement, which was really a clean up opportunity, as Bunds fell 40 ticks on that, Schatz drop 15 fat tick, and Euro rallied 100 ticks. I was working some bids in the Euribor (stupidly I might add) as the comment came and found myself quite a bit offside quite quickly. But the beauty of a busy market that that it gives the opportunity to make your day back, and I was able to keep shorting spreads as the Yield curve flattened, whilst churning alot of roundies.

Short end got smacked as short term expectation for a rate rise rose as long term expectations remain similar this lead to aggressive flattening across the curve.
This is also lead to relative strength in the ftse and US markets as they pushed into these markets at the expense of the European Bourses.

We had a very strong day in the US markets, and as a result my short in NTCT looks finished, ill be looking to exit today regardless of what happens.

I expect us to be range bound till nonfarm payrolls later today. Could be a very whippy one, so watch out.

Portfolio update: AGCO, SWHC, NTCT, BIDU

Markets have rallied today after yesterdays heavy sell of, its touch and go whether we will sustain this or come off more. Looking at a whole handful of stock, and none of them are compelling enough to get into at the moment.
AGCO has given back 5% since its peak a week back, and looks like its consolidating in this area. I will just hold this unless it breaks lower.
NTCT looks strong and I'm ready to bail on any further big move up.
SWHC looks to be consolidating too after its run from its lows.
BIDU is still deciding which way to go, up hopefully!

Bund rises on oil worries and profit taking.

Stocks slide as tensions grew in the middle east, and the high price of oil. Bonds ended near the highs after being down earlier on with the Bund trading at 124.23 after earlier dipping below 124.
Short sterling was moving around a bit as the inflation hearing was coming out sporadically during the day.
As far as the portfolio goes, pretty rough day as all my longs are down and my short is up 5% plus, I'm ready to bail on NTCT if it has another push higher as it looks like the initial downside was just an opportunity to buy and unfortunately I didn't get out. You live and learn!
Elsewhere I'm hoping the downside provides some further opportunities to get into a position.