Sterling performance
12.07 pm A 32 point bounceback after Fridayitis in the last session. I'm out of MND and half the IGO as the resources lightening continues. I say lightening rather than switching because I don't see the big asset allocators changing themes so quickly after reporting season.
The two large cap longs I'm pretty confident about are OSH, which is starting to break now, and TTS which is up about 5 to 407.
I was interested in BTT on Friday as an exposure to a strengthening British Pound. It didn't do anything in a falling market but has kicked up 33 cents today. I might buy some later. Clydesdale bank is a similar theme. It too has risen about 3% today but I'm not sure that there's a reasonable entry here. It's pretty much a straight line over the last week or so.
3.49 pm OML is shaping up quite bullishly, making higher lows and higher highs just short of a breakout level. Changes in the media landscape may help to excite interest here too. Just buying a couple on the close.
4.33 pm Pretty happy with the OSH performance today. I've had to wait a couple of days but got the breakout I've been looking for. With any luck, it can get through 700 tomorrow in which case it would probably attract more buying from longer term players who prefer to see confirmation.
The market is very much in the doldrums as we extend this long narrow trading range but it's nearer the bottom of the range and I'm hopeful of a couple of days up. Not that it matters really, I'm just trading individual breaks but I guess a good day can turbocharge the performance of a winning position.
The two large cap longs I'm pretty confident about are OSH, which is starting to break now, and TTS which is up about 5 to 407.
I was interested in BTT on Friday as an exposure to a strengthening British Pound. It didn't do anything in a falling market but has kicked up 33 cents today. I might buy some later. Clydesdale bank is a similar theme. It too has risen about 3% today but I'm not sure that there's a reasonable entry here. It's pretty much a straight line over the last week or so.
3.49 pm OML is shaping up quite bullishly, making higher lows and higher highs just short of a breakout level. Changes in the media landscape may help to excite interest here too. Just buying a couple on the close.
4.33 pm Pretty happy with the OSH performance today. I've had to wait a couple of days but got the breakout I've been looking for. With any luck, it can get through 700 tomorrow in which case it would probably attract more buying from longer term players who prefer to see confirmation.
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