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a good week for SBM trading buy calls – italian MIB buy call target hit. T Bond short call made

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This week our trading calls have begun to really motor with the following positions putting good profits on the table, in particular with our Italian equities call (a rare thing for many in this current environment) – 

5. Ibex 35. Trading Buy @ 5903 – Jul 23 2012. Closed @ 6190 – Jul 23 2012

6. Lonmin. Trading Buy @ 668p – Jul 23 2012 (Target – 730p)

7. Ibex 35. Trading Buy @ 6000 – Jul 24 2012 (Target – 6300) – Closed @ 6300 – Jul 26 2012

8. Mib 30. Trading Buy @ 12300 – Jul 24 2012 (Target – 13000) – Closed @ 12960 – Jul 26 2012

9. Nikkei 225. Trading Buy @ 8400 – Jul 25 2012 (Target – 8600) – Closed @ 8600 – Jul 27 2012

10. US T – Bonds – Short Call @ $153 – 25 Jul 2012 (Target – $150) – Closed @ 150 03/32 – Jul 27 2012

Measured leverage, patience and an understanding of the technical position allowed us to remain in these positions.

We open a new position today on US 30 Yr T-Bonds. Short @ $153. The chart below shows just how overextended this contract is and we think there could be a good 3 or 4 points drop in this over the next several days.

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