Origin energy kicking again
11.58 am A good start after healthy job figures from the US and an easing of pressure on CBA.
Oil stocks are charting well. I was long a few ORG overnight and the share price is kicking on after congesting near recent highs through the second part of last week.
Santos also looks interesting although it's still sitting in a high tight congestion despite being up 8 cents to 341. I've bought a few at 341 but it's a pretty tentative position at this stage.
I had high hopes for Galaxy for today but the stock is pausing. It's managing to stay near the highs though and is currently sitting down 2 at 201. I sold out the extra stock I'd bought on the close of trade on Friday for 206 as there was no obvious early momentum.
12.56 pm Market tracking sideways now.
Regarding medium term positions, I had BLD, DOW and EVN having sold out of XRO on Friday. I've thrown in the towel on EVN at 217 compared to a buy price of 228. I made the mistake of buying a stock not in an obvious uptrend.
Otherwise, BLD is close to my entry price at 691 and looking good while DOW has had an excellent day, up 2.7% at 694. Entry price for this position is 653 and I'm hoping for something around 720 as a price target.
4.20 pm The market closed up 53 points, fading slightly from a 1 pm peak.
Having sold out of EVN, I added another medium term position in BSL. The stock was upgraded and coincidentally, steel rallied hard in China and this is just a strong stock. I've bought the gap up with the thought that a stock will usually either rally strongly for another day or have a high tight congestion for a day or three. Here's the daily. My rough target is 1500.
Otherwise, in active trading, I sold out of STO for a quick turn but it ended up driving further to finish at 347. Looks very good and I'll try to get on early if it's well bid early tomorrow. I still have a long in ORG and added a very small position in OSH. The sector looks good across the majors.
Oh, and Galaxy closed 3 cents lower at 200. I still think it can run.
Oil stocks are charting well. I was long a few ORG overnight and the share price is kicking on after congesting near recent highs through the second part of last week.
12.56 pm Market tracking sideways now.
Regarding medium term positions, I had BLD, DOW and EVN having sold out of XRO on Friday. I've thrown in the towel on EVN at 217 compared to a buy price of 228. I made the mistake of buying a stock not in an obvious uptrend.
Otherwise, BLD is close to my entry price at 691 and looking good while DOW has had an excellent day, up 2.7% at 694. Entry price for this position is 653 and I'm hoping for something around 720 as a price target.
4.20 pm The market closed up 53 points, fading slightly from a 1 pm peak.
Having sold out of EVN, I added another medium term position in BSL. The stock was upgraded and coincidentally, steel rallied hard in China and this is just a strong stock. I've bought the gap up with the thought that a stock will usually either rally strongly for another day or have a high tight congestion for a day or three. Here's the daily. My rough target is 1500.
Oh, and Galaxy closed 3 cents lower at 200. I still think it can run.
Comments
Post a Comment