CFD Report: Top five for the week

Monday 14th July 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 11th 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

Apple Computer Inc. (AAPL)

Short

Joe Punter can now buy their 3G iPhone.� Traders looking to sell into the hype 177+. Chance to test under $160. This stock moves around & quickly.�

No. 2

Fortescue Metals Group (FMG)

Long

Absolute clean-out of the longs over the last 10 days selling off to $8.75. Now seeing buyers under $9 � traders looking to see a move back to $11.50 area

No. 3

US Crude Oil Aug 08

Long

Long & wrong this week with a violent $10 sell off to $135.15.� Recovered $7 in late NY trading today.� On the cards for a move to $145.80/$146.00 & eventual look at the $150 level.

No. 4

BHP Billiton Limited (BHP)

Short

Sideways trading & couldn�t breach $40.80. Traders looking for sell-off to extend into $37.00-50 window with sell orders $41 +

No. 5

Macquarie Group Limited (MQG)

Short

Failed above $49.00 despite some significant buying � looking for a break of $45 for a re-test of this years low at $43.01.

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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