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CFD Report: Top five for this week

Friday 18th July 2008

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What are CFD traders buying and selling this week? We asked local CFD provider, CMC Markets NZ Ltd what is happening in the market.

Mark Bringans, CFD & FX Business Development Manager NZ of CMC Markets NZ compiled this report for ShareChat on 18th July. Mark's provided us with a list of the five most popular CFD trades on turnover for NZ clients of CMC Markets.

If you'd like more information on CFD trading, visit the ShareChat CFD Centre here.

Ranking

CFD

LONG/SHORT

Reason

 

No. 1

 

 

Fletcher Building Limited (FBU)

 

Long

 

The hunter becomes the hunted.  Rumor of Aus’ largest building & construction materials supplier Boral circling. Current trading at $6.45 from high of $13.45 just over a year ago.  Would think Boral will have to pay double-digits if they’re serious on taking them out.

 

No. 2

 

 

 

Westpac Banking Corporation (WBC)

 

Long

 

Aus’ First Bank trades back above $20. New reporting lines implemented this week by Gail Kelly as she dictates her management style.  Looking for a break above $23.00 toward $25.00/20

 

No. 3

 

 

 

US Crude Oil Aug 08

 

Long

 

Whip-saw movements saw longs able to take some profits. $147.29 was traded.  Bottom-picking can be expensive but bids at $128.50-$129.00 might be where the next $10 of value is.  Sep 08 contract trades at a 0.80 premium to the Aug 08!

 

No. 4

 

 

 

BHP Billiton Limited (BHP)

 

Long

 

Short was the way & achieved the $37.00 objective trading today down to $36.69.  Traders think its time to turn & go long for a look back at $40.80-$41.00

 

No. 5

 

 

JB Hi-Fi Group Pty Ltd (JBH)

 

Long

 

Fierce competition is sensitive in NZ, where it appears Real Groovy Records has been bought to their knees.  Buyers all week from the $10.70 area, today at $12.00 as traders look for a test of $13.30-50

 


Click here for more information on CMC Markets NZ Ltd

Disclosure statement - Mark Bringans,
CFD & FX Business Development Manager NZ of CMC Markets NZ
 

ShareChat has provided this CFD information and the CFD section as general information, not professional investment advice.
Please note that these are NOT buy or sell recommendations.
Derivatives may not be suitable for all investors/traders; so ensure you fully understand the risks involved, and seek independent advice if necessary.

 



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