King copper
Commodities bolted higher overnight and resource stocks rallied strongly. This has carried over into our session and the two main pure play copper stocks, OZL and SFR, have rallied 8 and 6% respectively.
I've sold some more A2M at 393 as it has risen another 10 cents from yesterday's close. DMP was a shocker, reversing hard from the open so I cut it at 5600. It wasn't a full position but costly nonetheless. Otherwise, I picked up some resource stocks early and have made a little bit there.
Inflation figures just came out on the low side and the Aussie dollar has slipped to just over US 79 cents.
2.42 pm The market has been in a fairly tight range after gapping open. It's up 1% at present.
I've bought back into ALQ as the stock is now clearly resuming the rally. Long at 761 and looking for a burst up to the recent highs.
3.42 pm TWE looks to be running back up having made a higher low following a one month correction. Long a small amount at 1285.
4.28 pm I went too early in ALQ as the market eased into the close and it slipped to 755. Happy enough to hold overnight and think the market has the chance to rally for another day having pushed above the last two minor highs.
I've sold some more A2M at 393 as it has risen another 10 cents from yesterday's close. DMP was a shocker, reversing hard from the open so I cut it at 5600. It wasn't a full position but costly nonetheless. Otherwise, I picked up some resource stocks early and have made a little bit there.
Inflation figures just came out on the low side and the Aussie dollar has slipped to just over US 79 cents.
2.42 pm The market has been in a fairly tight range after gapping open. It's up 1% at present.
I've bought back into ALQ as the stock is now clearly resuming the rally. Long at 761 and looking for a burst up to the recent highs.
3.42 pm TWE looks to be running back up having made a higher low following a one month correction. Long a small amount at 1285.
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