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CFD Report: Top five for the week

Friday 4th 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 4th 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

 

 

US Crude Oil Aug 08

 

Long

 

Continues to ratchet higher & trades at $145.85 today. Weeks range $139.20-$145.85. Market won’t be happy until $150 is achieved. Longs are likely to take profit before that level.

 

No. 2

 

 

 

New Zealand Oil & Gas (NZO)

 

Long

 

Reached $1.91 before profit-taking pared back gains. Traders still adding to longs looking for $2.00. When & if Crude turns lower, this one will dovetail.

 

No. 3

 

 

 

Macquarie Group Limited (MQG)

 

Short

 

Continual rumours of staff selling their shares contributes to knee-capping of rallies. Sellers stacked above $49.00 looking for a re-test of this years low at $43.01

 

No. 4

 

 

 

BHP Billiton Limited (BHP)

 

Short

 

Decent sell-off from the weeks high of $44.85, breaking below $40 to $39.75. Traders looking for sell-off to extend into $37.00-50 window with sell orders $41 +

 

No. 5

 

 

 

Woolworths Limited (WOW)

 

Short

 

Some surprise at the speed of the slide through $25.00. Traders looking for a quick trade down to $20.00. Be quick to turn the position though when this bounces back.

 

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.


Click here
for more information on CMC Markets NZ Ltd


 



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