27 Oct The JSE is kind to our Wannabe iTrader as he approaches the end of his trading month
Here’s his account of his past week trading the JSE with our R10,000.00
The JSE all share and top 40 indexes are continuing their upward trend. It has been quite a nice week for many because of this. The market is hopefully on the way back up to where it was a month or two ago.
My long positions in Satrix top 40, Mediclinic and in Old Mutual have been benefitting largely. This morning I closed my positions in Satrix top 40 (STX40) portfolio and in Mediclinic (MDC).
I bought 356 Shares at R42.11 in STX40 and closed the position at R43.35 realising a gross profit of R437.88.
In MDC, I bought 150 shares at R89.05 and this morning sold them for R93.14, accruing a tidy gross profit of R613.50.
Once accounting for costs it will be a bit less, but I am quite happy with the result of those two trades at least. Old Mutual share price currently stands at R32.99, which finally sees me in the green, after a rough journey while holding the shares.
It’s the last week of October now, and my last week as a Wannabe iTrader. After closing two of my positions I now have quite a bit of free cash that needs investing. I am hoping the market stays bullish, and will probably be looking for valuable long trades. Let’s see how the week goes and hopefully by the end of it, I will finish my Wannabe iTrader experience where we all like to be; in the green instead of just being green.
– Bradley Lund