CFD Report: Top five for this week

Friday 27th June 2008

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 27th June. 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

New high reached at $140.36. Choppy trading in a $132-140 range, but then OPEC lumped in with a $170 forecast plus �driving season� in the USA to impact in July/August

No. 2

New Zealand Oil & Gas (NZO)

Long

One way traffic as traders add to longs. Grinding its way higher. Sellers not seen until $2.00

No. 3

Fortescue Metals Group (FMG)

Long

Asian clients like this stock as well for obvious reasons. Touched $13 this week. Buyers on dips below $11. Andrew �Twiggy� Forrest wealth breaks above A$12B (he owns 36% of FMG, market cap 34.0B)

No. 4

BHP Billiton Limited (BHP)

Short

Sellers of any rally toward $45. Despite metals strength, traders are not convinced & have their eyes on a break below $40

No. 5

NZDUSD Spot

Short

Traders think fair-value may have lifted to 0.7200. Mid-winter in NZ is always nervy for the Kiwi. Look for a test of �fair-value� over the next month

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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