Early opportunity
12.42 pm The market opened lower on potential regulatory action against Commonwealth bank but has steadied to be square now though CBA is 3% lower.
I was able to buy A2M on the open for not much more than last night's close, average was around 427. I didn't realise how strong it looked until after the market so feared a gap open. Anyway, it's up to 441 now.
2.17 pm The market is selling off now on CBA weakness which is gradually spreading as fears grow of a banking royal commission. It's not major weakness though, a fall of 20 points.
A2M couldn't sustain buying above 440 so I got out in the high 430s. It might have another attempt so I'm thinking about buying back in.
Another stock of interest is lithium play, Galaxy. It's been upgraded and is up 12 to 199. I bought some at 192 and sold two thirds in the high 190s. I think it can keep going so plan to hold some overnight.
4.24 pm The index was stuck in a tight range for most of the afternoon and eventually closed 14 points lower which is quite a good performance for a Friday since panic often seems to set in.
I bought more GXY at 203 on the close as it finished on the day's high looking very strong.
I sold out of XRO today, three quarters of the original position at an average price of 2574. Entry price was 2461. I don't necessarily think the run is over but momentum stalled yesterday and today saw the stock close 31 cents weaker. The other three medium term positions are BLD, DOW and EVN. The last two were flat while BLD rallied 6 to close at 685 though still short of my entry price of 694.
I was able to buy A2M on the open for not much more than last night's close, average was around 427. I didn't realise how strong it looked until after the market so feared a gap open. Anyway, it's up to 441 now.
2.17 pm The market is selling off now on CBA weakness which is gradually spreading as fears grow of a banking royal commission. It's not major weakness though, a fall of 20 points.
A2M couldn't sustain buying above 440 so I got out in the high 430s. It might have another attempt so I'm thinking about buying back in.
Another stock of interest is lithium play, Galaxy. It's been upgraded and is up 12 to 199. I bought some at 192 and sold two thirds in the high 190s. I think it can keep going so plan to hold some overnight.
4.24 pm The index was stuck in a tight range for most of the afternoon and eventually closed 14 points lower which is quite a good performance for a Friday since panic often seems to set in.
I bought more GXY at 203 on the close as it finished on the day's high looking very strong.
I sold out of XRO today, three quarters of the original position at an average price of 2574. Entry price was 2461. I don't necessarily think the run is over but momentum stalled yesterday and today saw the stock close 31 cents weaker. The other three medium term positions are BLD, DOW and EVN. The last two were flat while BLD rallied 6 to close at 685 though still short of my entry price of 694.
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