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Hi trendfriend.
Quality post. I also went long yesterday, quite heavily, then to protect myself layered in some shorts near the close.
Almost all of those shorts closed, took the view that it bounces back up.
So now am net long and fairly heavy at that.
I also think it recovers, in time, could be some more pain along the way though.
I think the floor is not far away.
Sad to read of some being in so much loss.
ATB
soi
I closed my 152 hedging long yesterday @ 155 + 3. Leaves me with 2 short positions in. ( loss ) I accept I will quite likely lose on those, doesn`t matter. Give a bit back of prior gains, just an expense of trading. GL to holders soi
Hi Thanks, brave ? Maybe ? I take calculated risks, just made some quick calculations, from prior profits can hold until 160 ish if it goes there before being in net loss overall. I can hedge long before that and in fact it is in my mind to do so today, I`ll wait until markets settle before doing so though. Mornings are ultra volatile. I am contrarian and do make some odd trades. That is just the way I am. I am of course well diversified with both my investments and SB ( spreadbet ) positions. Doesn`t trouble me much to be wrong on a few, which I am of course. All the Best soi
Hi noody I honestly don`t know the answer to your question as to what it will take to break past 148, perhaps if it does it goes on to fill the chart gap at 160. pipedreamer has made a good answer on TA levels. Headwinds to CNA are the ever present threat of more government intervention. CNA also losing customers at quite a rate. Although upcoming divi is promised, any hint that there will need to be a future cut is going to hurt the sp badly.. IMO GL soi
Hi Suf/regardless/CB2 Nope not at all concerned. 1 short left and have taken the equivalent of 1 & 1/2 years dvis in 7 weeks of trading. I can afford to give a touch back if that is how it plays out. In any event, usually shares give back the divi on ex D day. I am curious though, why do yo regard 146 as significant ? 144 was former resistance, might be support now for a short while. 148 resistance. 146 I do not regard as being of importance. What are you seeing that I am not ? ATB soi