Update on last week’s trade ideas

26 November

Last week, the Japanese trade of Kubota (KUB) v Nippon Telegraph and Telephone Corporation (NTT) was opened. This made 5.5% on the week, although it has pulled back 1.4% of that today.

It is good to ensure a profit doesn’t run into a loss and to move the stop loss to break even as soon as possible. I’ll do that today. As just mentioned in the WFC v BXP article, the best examples of Bollinger Band breakout trades tend not to pull back far or for long. A pullback all the way to break even is not healthy for the trade.

The trade idea of long banks short railroads has still not broken the resistance level shown in last week’s posting.