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Positions update

July 17, 2013

The National Oilwell Varco (NOV) v iShares Dow Jones US Oil Equipment Index (IEZ) position that was opened on 24 May has traded sideways. NOV is the worst performer in the sector today, so I’m going to close the position with NOV at $72.27 and IEZ at $59.89, giving a profit of 1.4%.

Whilst I got the move off the divergent low, there has been no follow through. Some examples of these trades take a while to follow through but my aim is to show the best examples.

The gold trades that I described earlier in the month have not been triggered yet.

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