Some relief for financials
12.11 pm The index is up 16 points which understates things since 8 points has come off the market because of ex dividends, primarily in BHP and WOW.
My shorts in AMP and TLS were no good and I've cut them both. AMP for a small loss of 2 cents but TLS was closed out at 371 versus an entry price of 362, it's up at 373 now. Otherwise, I got out of A2M at my entry price of 525 as it failed to progress and also sold the balance of IGO on the open at 395 and half the VOC at 257, roughly where it's trading now.
NWH is down 2.5 at 111, a little surprising as I thought there was a strong chance of a good move upwards.
So a slightly negative start to the trading day, back down to earth after a good day yesterday. I've been distracted with building work going on at home so haven't really got any strong opinions for the rest of the day and it's more about easing out of existing positions and looking to reset.
3.35 pm WOW is ex dividend today and I'm thinking of shorting some on the close as the drop helps it to slip below a congestion.
One that I'm long is IPL. It has been looking good and confirmed that strength with break through the recent high for a short term trend change. Long at 350.
4.22 pm That was a dull day, finishing square at 5690. We're close to the bottom of the range and I suspect the downside risk is limited but until the financials turn around the market will struggle to rally much. A slightly negative day for me as very little came off and the shorts hurt a bit.
My shorts in AMP and TLS were no good and I've cut them both. AMP for a small loss of 2 cents but TLS was closed out at 371 versus an entry price of 362, it's up at 373 now. Otherwise, I got out of A2M at my entry price of 525 as it failed to progress and also sold the balance of IGO on the open at 395 and half the VOC at 257, roughly where it's trading now.
NWH is down 2.5 at 111, a little surprising as I thought there was a strong chance of a good move upwards.
So a slightly negative start to the trading day, back down to earth after a good day yesterday. I've been distracted with building work going on at home so haven't really got any strong opinions for the rest of the day and it's more about easing out of existing positions and looking to reset.
3.35 pm WOW is ex dividend today and I'm thinking of shorting some on the close as the drop helps it to slip below a congestion.
One that I'm long is IPL. It has been looking good and confirmed that strength with break through the recent high for a short term trend change. Long at 350.
4.22 pm That was a dull day, finishing square at 5690. We're close to the bottom of the range and I suspect the downside risk is limited but until the financials turn around the market will struggle to rally much. A slightly negative day for me as very little came off and the shorts hurt a bit.
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