Trades

Trading AUD/USD, CSCO, PFE, SFTBY, KEP, CZZ, SPY, BMY – 10092017

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Written by schattenmann

In AUD/USD i took half of my position off the table after a +431 pips move. This Currency is clearly @ resistance but you never know how the move goes on. Holding the rest of my position and planing to buy more if a retracement occurs.

I closed KEP @ little profit, calling it a breakeven trade. Although P/E ratios are phenomenal, i decided to go out because of the clearly existing war possibility with N Korea.

On my search to quality i decided to take CZZ of the table. Fundamentals are looking good and a blended P/E ratio of under 10 is also remarkable. The market cap of 2 B USD is not fulfilling my market cap requirements and we do not know where the oil price is going to. My decision: Taking the profits and walking away to new opportunities.

In SFTBY (Softbank) i took a first stake. The stock seems to be fairly valued and there is no discount, at least for me. I am taking this stake as a long term investment for the Internet of Things Business to come in the next years. This company has some remarkable assets in this business like the ARMs holding who is a major player in the processor business.

In BMY i took my profits and walking away without this company. The stock was bought at some disount but now the fundamentals are not looking that much exiting. With a blended P/E @ 21,4 and an adjusted (operating) earnings growth @ 3,9 % this stock seems to be little overvalued.

PFE i like from fundamental perspective and the stock seems to be fairly valued. I sold a naked put on that stock, long lasting till Jun 18 but willing to buy that stock if it ever comes to “my” price levels under 30 or so.

I had despite of my short (hedge) position in the SPY another naked short call and covered puts in the market. All were in profit and i have taken them out. The market is preparing for the next move to come and is in the narrow range of 242-248 since the beginning of August. Lots of people are scared because of the September and October (the weakest months in the stock market). Fundamentals are ok but the market is trading near ATHs and very high valuations. I am fully aware that a “shock” in the bond markets, a probable panic style selling in the stock markets or a war with N Korea will affect my portfolio and a drop of >10 % is likely to happen, if such a shock occurs. In such a market environment i am planning to buy more quality and follow my trading plan. Time will tell the story.

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schattenmann

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