Battery powered
12.10 pm Nervously higher here with a 20 point rise after US markets largely shrugged off North Korea concerns. It's meant that golds have disappointed a little, fading after a bright start.
However, nickel stocks IGO and WSA are very strong as the point has been made that lithium iron batteries use a lot of nickel and the pig nickel from Asia that has flooded the market is unsuitable.
Here's IGO, heavily shorted and accelerating.
And it's the same story for WSA.
Otherwise, reporting season has given us some big winners and losers with ALL and ORA very strong and AMP weak.
2.47 pm Panic has set in once more with the market now down 18 points as Chinese markets are solidly lower. I've sold out of most things although I still have some Northern Star and I'm thinking of buying fellow gold miner Evolution.
Not a bad day for my active trading book but would have done better to bale out earlier.
My medium term positions are softer though and seem to reverse daily.
4.17 pm The weakness didn't extend and the loss was limited to 5 points.
I have small long positions in EVN, IGO and NST. Gold, gold/nickel/diversified and gold respectively. NCM, the major in the sector, was very strong today so I think the muted performance from EVN and NST was due to having run yesterday and there might be more in it tomorrow.
However, nickel stocks IGO and WSA are very strong as the point has been made that lithium iron batteries use a lot of nickel and the pig nickel from Asia that has flooded the market is unsuitable.
Here's IGO, heavily shorted and accelerating.
Otherwise, reporting season has given us some big winners and losers with ALL and ORA very strong and AMP weak.
2.47 pm Panic has set in once more with the market now down 18 points as Chinese markets are solidly lower. I've sold out of most things although I still have some Northern Star and I'm thinking of buying fellow gold miner Evolution.
Not a bad day for my active trading book but would have done better to bale out earlier.
My medium term positions are softer though and seem to reverse daily.
4.17 pm The weakness didn't extend and the loss was limited to 5 points.
I have small long positions in EVN, IGO and NST. Gold, gold/nickel/diversified and gold respectively. NCM, the major in the sector, was very strong today so I think the muted performance from EVN and NST was due to having run yesterday and there might be more in it tomorrow.
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