BHP Billiton (BHP) filled a "gap" from last week, falling under $78 this morning - so we've added to the position with a limit purchase order that was sitting in the lower $78s; for some off reason I did not place the purchase price just below $78 where it should have been. This will increase the current 1.8%ish exposure by about 1/3rd.
As for the market, it has been right to sell index long exposure each time we get approach S&P 1150. Soon we will need to resolve this line in the sand and break over ... or break down. As the S&P hits 1137s I am buying back a portion of the index long exposure I sold yesterday over 1146. But not all - some more downside nearer to 1133 could be in store.
Long BHP Billiton in fund; no personal position
Wednesday, January 20, 2010
Bookkeeping: Adding to BHP Billition (BHP) as "Gap" Fills
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows