Since my last update, I’ve made the following trades:
- Short Anglo American, position size $340k, profit $1.4k
- Short Antofagasta, position size $240k, profit $1.5k
- Short BHP PLC (London), position size $360k, profit $7.3k
- Short Boliden AB (Sweden), position size $260k, profit $7.4k
- Short Rio Tinto PLC (London), position size $280k, profit $7.4k
The positions were all held across 2-3 days.
Below are the screenshots of the positions taken just before clearing them. They show greater profit numbers than I managed to realize, because prices moved up as I was closing the positions.
This was an anti-commodity play, and the stocks above are all mining-associated companies. Commodities are currently favoured by many as an inflation and China stimulus play. But prices are factoring in future demand potential. It remains to be seen whether this potential will eventually be realised. I am basically trading the sentiment changes towards realisation of future potential.