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Thursday, 6 May 2021

My 1 Amazon CFD was closed out last night

My conservative trailing stop-loss on my Amazon CFD position closed me out last night when Amazon shares continued the previous day's weakness. I'll wait a while before going back in, as the price has dipped below the apparent 'support' level shown in latter weeks of  April, so may well continue down to around 3,000 - which would be close to the bottom of the horizontal band its been in since last August. Doesn't seem to be any great upward momentum at the moment, so I'm not in a rush to reopen a long position in Amazon, although I would like to get back in at some stage for the long haul.

My ishares MSCI Australia Index CFDs are in the black still. That position will remain open unless there is a sufficient market correction for the trailing stop-loss to close them out.

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