Shawn’s Trade of the Week

We advocated going long Fortescue Ltd (FMG) ~$17 two weeks ago; China has rapidly delivered our $20 target on a proverbial plate.

• We believe the short-term easy money is in the rearview mirror, aka “plan your trade and trade your plan,” so we are taking a ‘paper profit’ on the FMG trading position ~$20

NB This is very different reasoning/logic from the position we are still holding in the Active Income Portfolio.