Catch up for oils
11.26 am The market is flat, waiting for employment figures in a few minutes. It was a commodity sell off night with nickel hardest hit so the 3 wave correction I was thinking about in IGO is shaping up as likely. Long a couple at 371.
Oil has been rallying for the last couple of days but the oil stocks have been retracing mildly. Another up night in the commodity has helped to provide support. I added early in OSH at 675 and it's up to 681. The other large cap oils are also up around 1%. Here's the latest.
Nothing to see here really except that the prospect of another leg up is still good.
Employment figures have come through, a fair bit stronger than expected with July figures also revised upwards. This has triggered a rise in the Aussie dollar.
11.40 am I've been clearing the decks in the small cap book. The best performer was Afterpay which I sold early at 450. It's a bit higher but I bought at 388 and pretty happy with it. A couple of minor losers have meant the ledger is square there on the day but the last few days have been good and these stocks can be volatile. I need to keep focussing on the movers rather than sit there through what can be quite deep retracements in those stocks that have had their run.
12.29 pm Well it's all gone deathly quiet now and OSH has slipped back, disappointingly.
Having created some room, I've added a new stock among the small caps. Metro Mining is developing a bauxite mine but I know precious little about the company, I'm just trading a breakout. Long at 19.
2.50 pm I reluctantly bought a couple of thousand BSL on the close last night. It was a good signal but I prefer to buy stocks that are stronger than this. The case in favour is that the market overreacted to conservative guidance whereas performance, dividend and the announcement of a buyback were ignored. Anyway, it's up 2% today and could have more in it. It's a small position but I'll hold overnight.
3.20 pm Nothing much was happening in IPL and TAH so I sold out at 357 and 428 respectively. A good gain on TAH though below Tuesday's peak and IPL is a minor gain as the acceleration I was hoping for didn't eventuate. MND is back up to 1510 and I'm hanging in there, same in WEB which is doing nothing again. BSL is up to 1157 now though.
I've jumped on a moving train in Eclipx. Buying a few for the small cap book at 390. It seems to be gathering momentum after tentatively breaking out yesterday so I'm looking for another day or so here.
4.19 pm A quiet day ended with a loss of 6 points to 5739 on the ASX 200 index.
I bought a little more MND at 1514 towards the close of the day. The stock held above yesterday's intraday break of 1500 and finished at the top of the range.
Oil has been rallying for the last couple of days but the oil stocks have been retracing mildly. Another up night in the commodity has helped to provide support. I added early in OSH at 675 and it's up to 681. The other large cap oils are also up around 1%. Here's the latest.
Employment figures have come through, a fair bit stronger than expected with July figures also revised upwards. This has triggered a rise in the Aussie dollar.
11.40 am I've been clearing the decks in the small cap book. The best performer was Afterpay which I sold early at 450. It's a bit higher but I bought at 388 and pretty happy with it. A couple of minor losers have meant the ledger is square there on the day but the last few days have been good and these stocks can be volatile. I need to keep focussing on the movers rather than sit there through what can be quite deep retracements in those stocks that have had their run.
12.29 pm Well it's all gone deathly quiet now and OSH has slipped back, disappointingly.
Having created some room, I've added a new stock among the small caps. Metro Mining is developing a bauxite mine but I know precious little about the company, I'm just trading a breakout. Long at 19.
2.50 pm I reluctantly bought a couple of thousand BSL on the close last night. It was a good signal but I prefer to buy stocks that are stronger than this. The case in favour is that the market overreacted to conservative guidance whereas performance, dividend and the announcement of a buyback were ignored. Anyway, it's up 2% today and could have more in it. It's a small position but I'll hold overnight.
3.20 pm Nothing much was happening in IPL and TAH so I sold out at 357 and 428 respectively. A good gain on TAH though below Tuesday's peak and IPL is a minor gain as the acceleration I was hoping for didn't eventuate. MND is back up to 1510 and I'm hanging in there, same in WEB which is doing nothing again. BSL is up to 1157 now though.
I've jumped on a moving train in Eclipx. Buying a few for the small cap book at 390. It seems to be gathering momentum after tentatively breaking out yesterday so I'm looking for another day or so here.
4.19 pm A quiet day ended with a loss of 6 points to 5739 on the ASX 200 index.
I bought a little more MND at 1514 towards the close of the day. The stock held above yesterday's intraday break of 1500 and finished at the top of the range.
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