ZFX
Looking for positions to open for my CFD account these pass few days. Bouncing between ZFX, BHP, PLF and a few others… decided to go back with ZFX, the PE ratio on this thing is still low and they have 1/4 of their asset value in CASH, which they will be buying lots mines and what not
Reason
BHP has runned quite a bit, looking at the weekly chart its trading 2 weeks outside the bollinger bands (ie, it should technically be pulling back soonish… unless it has a lot more steam. That said, i doubt it because BHP has move quite vertical.
similar to BHP, ZFX is on a breakout grade, today most of the resources had a pull back. ZFX has ample support at $18, $17 & $16 (ie. its going to be quite hard to fall without bouncing back) The plan is to set a trailing stop loss starting from around $18 - a set and forget strategy, similar to what i’m doing for OSH.
The Trade (20th June 2007)
Buy 1,500 ZFX @ $19.095 ($28,642.5)
Margin Required: $2,8642.5 (10%)
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