There's always something
12.40 pm The ASX 200 is up 30 points after a good result from CBA but nerves over North Korea and potential US action against them has limited the potential upside.
A mixed day for me as I've given up on GXY, selling my balance at 195 and STO is 6 cents lower but AWC is up 2.5% and I took a reasonable profit in CYB. My medium term longs in BLD, BSL and DOW have pretty much reversed yesterday's losses.
Gold is firmer on the geopolitical concerns but not by much. However, the Aussie dollar gold price is back North of 1600 for the first time in a month or so.
I'm long some ANZ intraday on the CBA result. There's a potential higher low from yesterday and I'm hoping for a run this afternoon. The stock is at 2993 and entry price is 2980.
1.35 pm The index is holding its gains in the face of weak markets throughout our time zone and US futures lower by about a third of a percent. It's got me wondering whether we could be seen as a safe haven market in the face of nuclear worries. If most of our selling has been offshore recently then it's possible that those players will focus on their own domestic markets and take the pressure off the ASX 200. Just a thought and I have no idea how valid it is. Ironically, as I write this the market has fallen 6 points in 3 minutes.
2.36 pm The market is back near its highs and while Ian Narev is getting the third degree at the CBA press conference, I've sold out of ANZ at an average of 2994. CBA is up but stalling and ANZ hasn't pushed on. Instead, I've added a gold stock, Northern Star, at 474.
4.20 pm Santos couldn't rally today and although it's holding a narrow range, any momentum has faded so I sold on the close for a loss of 5 cents.
Otherwise, I still have some AWC in my active trading book but it disappointed today, rallying 3.5 cents where US stablemate Alcoa rose more than 4% and the underlying commodity was up well over 3%. I have a couple of small positions in nickel plays IGO and WSA which also stalled after a bright open. I'm hoping for a more sustained run tomorrow where I can pyramid in but if not I'll look to cut them.
The story of the day was CBA and after threatening to slide into the red as the trading day drew to a close, it steadied and ticked back up into the match, finishing 46 cents higher.
A mixed day for me as I've given up on GXY, selling my balance at 195 and STO is 6 cents lower but AWC is up 2.5% and I took a reasonable profit in CYB. My medium term longs in BLD, BSL and DOW have pretty much reversed yesterday's losses.
Gold is firmer on the geopolitical concerns but not by much. However, the Aussie dollar gold price is back North of 1600 for the first time in a month or so.
I'm long some ANZ intraday on the CBA result. There's a potential higher low from yesterday and I'm hoping for a run this afternoon. The stock is at 2993 and entry price is 2980.
1.35 pm The index is holding its gains in the face of weak markets throughout our time zone and US futures lower by about a third of a percent. It's got me wondering whether we could be seen as a safe haven market in the face of nuclear worries. If most of our selling has been offshore recently then it's possible that those players will focus on their own domestic markets and take the pressure off the ASX 200. Just a thought and I have no idea how valid it is. Ironically, as I write this the market has fallen 6 points in 3 minutes.
2.36 pm The market is back near its highs and while Ian Narev is getting the third degree at the CBA press conference, I've sold out of ANZ at an average of 2994. CBA is up but stalling and ANZ hasn't pushed on. Instead, I've added a gold stock, Northern Star, at 474.
4.20 pm Santos couldn't rally today and although it's holding a narrow range, any momentum has faded so I sold on the close for a loss of 5 cents.
Otherwise, I still have some AWC in my active trading book but it disappointed today, rallying 3.5 cents where US stablemate Alcoa rose more than 4% and the underlying commodity was up well over 3%. I have a couple of small positions in nickel plays IGO and WSA which also stalled after a bright open. I'm hoping for a more sustained run tomorrow where I can pyramid in but if not I'll look to cut them.
The story of the day was CBA and after threatening to slide into the red as the trading day drew to a close, it steadied and ticked back up into the match, finishing 46 cents higher.
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