Platinum
12.54 pm Not the metal but the funds management group. They're up 7% post result and it's justified as far as I'm concerned. I've been invested in their international fund for over a decade and last year's performance was excellent. What I like it that they're not just limit long the FANG stocks and they always have downside cover so to outperform in that environment is great and because of their hedging and value approach they generally outperform in weak markets. The stock has been out of fashion and heavily shorted but that is changing now. I've been trading some intraday and will think about holding the long overnight.
Overnight longs in BPT and FMG have gone ok with BPT back up 2 to 72 despite being ex dividend (one cent) while FMG hasn't quite done what I'd hoped but is higher by 3 or 4 cents.
2.05 pm Interesting situation in Qantas which reported this morning. There was enthusiasm to short the result and I joined in but didn't take my profit. I realised it was a squeeze and cut for a few cents but didn't follow my instinct to reverse and go long. The trade would have made the day. I went long later after it broke up out of a congestion but that was minor. I think it can run more today actually.
3.47 pm Boral reports next Wednesday and it's starting to push towards the top of the range and above interim highs over the last few weeks. I'm long a very small amount at 703 so I'm watching it if it starts to rally ahead of the result. I won't hold it overnight on Tuesday having learned my lesson in BSL but there's a chance of an early run in the next couple of days.
4.50 pm The market was pretty flat, ASX 200 closed down 2 to 5744, but lots of action in individual stocks. Platinum finished on its high at 598, a rise of 58 on the day.
Overnight longs in BPT and FMG have gone ok with BPT back up 2 to 72 despite being ex dividend (one cent) while FMG hasn't quite done what I'd hoped but is higher by 3 or 4 cents.
2.05 pm Interesting situation in Qantas which reported this morning. There was enthusiasm to short the result and I joined in but didn't take my profit. I realised it was a squeeze and cut for a few cents but didn't follow my instinct to reverse and go long. The trade would have made the day. I went long later after it broke up out of a congestion but that was minor. I think it can run more today actually.
3.47 pm Boral reports next Wednesday and it's starting to push towards the top of the range and above interim highs over the last few weeks. I'm long a very small amount at 703 so I'm watching it if it starts to rally ahead of the result. I won't hold it overnight on Tuesday having learned my lesson in BSL but there's a chance of an early run in the next couple of days.
4.50 pm The market was pretty flat, ASX 200 closed down 2 to 5744, but lots of action in individual stocks. Platinum finished on its high at 598, a rise of 58 on the day.
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