22nd March 2012: Today’s Trade: QAN

QAN (22nd March 2012)

 Qantas (ASX:QAN) had an Australian Financial Review story on regulatory prevention of grounded fleets. QAN rose immediately in early morning trading, went through several support and resistance levels, and peaked at $1.795 (1:12pm) before afternoon profit-taking and shorting occurred (enabling institutional investors to take money from day traders who had bought mid-morning and were forced to sell at a loss).


Other trades:


Short ASX:JBH due to poor retail outlook.

Pairs trade: Hold ASX:MYR and short ASX:DJS on poor earnings announcement.

Pairs trade: Short LON:HMCD and buy NYSEARCA:FXI (China ETF and China FTSE/Xinhua 25) on China’s macroeconomic outlook.

Short NYSE:CVX on Brazil’s prosecution of environmental disaster and consider hedging upside exposure with a Brazil ETF.

Scalp trade REMX (rare earths ETF) on intra-day volatility.

Monitor NASDAQ:ZNGA on reaction to mobile acquisition deal: possible event arb and merger arb opportunities based on pre-market rally.

Monitor NSE:SATYAMCOMP to see if intraday rally continues from merger announcement with Tech Mahindra Ltd.