Perils of the minnows
12.32 pm The index is down 9 points, roughly flat when allowing for ex dividends in CBA and SUN.
I've chased my tail today with a couple of intraday punts which haven't gone brilliantly, it tends to be very volatile in earnings season and it's in full swing now.
NWH is down 7 at 88, the perils of being in under researched stocks. It's not a big position and I've just added a few more at 88. With the new stock and the increased earnings from the new acquisition, it looks as if the stock is on a historic p/e of around 7, coming out of the bottom of the cycle when p/e ratios are usually at their highest. Along with that, the earnings profile should be smoother and more robust. So a cheapie that I hope has another kick in it.
Otherwise there's nothing much that I'm keen on at this point though I am watching a couple of the US dollar earners as our currency weakens.
3.29 pm The market is firm this afternoon, something of a surprise rally.
NWH has been up to 93, I sold this morning's extra portion at 92. Also exited TCL this morning at 1178 for a small gain, decided I wasn't too sure about it.
I've just added an overnight long in CTD at 2341. It's a strong stock that has had a weak correction and is resuming a rally. FLT, in the same sector, is also firm. Here's the CTD chart.
4.22 pm The rally continued through to the close, gathering momentum as it went along. The final count was a gain of 28 points to finish at 5785, close to the recent resistance. I'm not convinced we'll fail this time because the banks are now better bid and they can carry the market higher. Neither am I super bullish but I have added another long in insurer IAG. Another strong trender that may have completed a correction and formed a higher low. Long at 671.
I've chased my tail today with a couple of intraday punts which haven't gone brilliantly, it tends to be very volatile in earnings season and it's in full swing now.
NWH is down 7 at 88, the perils of being in under researched stocks. It's not a big position and I've just added a few more at 88. With the new stock and the increased earnings from the new acquisition, it looks as if the stock is on a historic p/e of around 7, coming out of the bottom of the cycle when p/e ratios are usually at their highest. Along with that, the earnings profile should be smoother and more robust. So a cheapie that I hope has another kick in it.
Otherwise there's nothing much that I'm keen on at this point though I am watching a couple of the US dollar earners as our currency weakens.
3.29 pm The market is firm this afternoon, something of a surprise rally.
NWH has been up to 93, I sold this morning's extra portion at 92. Also exited TCL this morning at 1178 for a small gain, decided I wasn't too sure about it.
I've just added an overnight long in CTD at 2341. It's a strong stock that has had a weak correction and is resuming a rally. FLT, in the same sector, is also firm. Here's the CTD chart.
Comments
Post a Comment