Wednesday, January 10, 2007

Taking profits on my Exxon short:

Just bought back my £10/cent position in Exxon, I've made 6.8% on the trade (well, the original trade, not the doubling of the position) since my entry in November, despite the overall market being pretty much flat. A nice drop-off in Crude prices helped my achieve this one. Just eye-balling the chart, I fancy it maybe has a little bounce up a couple of bucks from here, so taking my £2,920 profit for now. May look to re-enter this one...like I said in the original post, the absolute market cap is just way too high.

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