Arm wrestle
1.32 pm 5786 now with the intraday high for the ASX 200 at 5806 so the battle is raging.
I'm out of my overnight longs in CTD and IAG for good gains of 1 to 2% and have sold half of a longer term DOW position at 696 (entry 653) as it's short of my target but has been up to the 690s a few times and rolled over again. Other longer holds in BLD and BSL are also doing well though NWH is flat. All in all, a pretty good day.
Resources were extremely strong last night and I think they've underperformed here today in the tumult of reporting season. Gold is the exception as Trump concerns are to the fore again and EVN is up 6% having reported well. There are plenty of buy signals in the gold complex. Here's one in Newcrest.
3.26 pm The market hasn't collapsed but has drifted lower.
CSR has made a nice break today and I'm trying to buy a few at 414. It's been under pressure for a while but making a base and today is the first sign of acceleration.
4.30 pm That was interesting. The market didn't collapse late but bounced into the last 20 minutes or so to limit the losses to 6 points. The SPI has pushed higher late on as well.
I'm out of my overnight longs in CTD and IAG for good gains of 1 to 2% and have sold half of a longer term DOW position at 696 (entry 653) as it's short of my target but has been up to the 690s a few times and rolled over again. Other longer holds in BLD and BSL are also doing well though NWH is flat. All in all, a pretty good day.
Resources were extremely strong last night and I think they've underperformed here today in the tumult of reporting season. Gold is the exception as Trump concerns are to the fore again and EVN is up 6% having reported well. There are plenty of buy signals in the gold complex. Here's one in Newcrest.
3.26 pm The market hasn't collapsed but has drifted lower.
CSR has made a nice break today and I'm trying to buy a few at 414. It's been under pressure for a while but making a base and today is the first sign of acceleration.
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