Banks down and the rest is up
11.53 am The heading sums it up with the index unchanged but most sectors going ok with golds a surprise winner.
My longs are modestly higher in the bigger stocks while the small caps have been helped along by a nice jump in NCZ. I actually added another handful at 141.5 yesterday as it broke the 140 resistance and sold some of the extra stock on the opening match at 157. That level has held it for most of the morning but it has now pushed on further to 161.
I sold out of BUB early at 87 and DCC at 9. They're both about those levels, a bit weaker now, but the quick momentum was gone.
12.55 pm The ASX 200 has steadied and climbed through 5900 to be up 10 at 5904.
The retail component of the Beach Petroleum capital raising is sorted now with the new shares coming on tomorrow. It seems to have been enough to lift the stock and coming from a higher low, the stock looks pretty bullish now. I've added to an existing position at 90.
I had high hopes for NWH today and although it hasn't gone anywhere, it has shrugged off some early weakness and it wouldn't take much to get the stock through recent highs around 130 and then it's off and running.
Talking of off and running, NCZ has eased, I just missed selling a couple at 160 so bit the bullet and sold them at 156. It's 155 now but I think this is simply an intraday pullback and I'd expect another run at 160 either today or tomorrow.
1.15 pm Platinum is in a strong uptrend and I've been looking for a buying opportunity. It's looking hopeful now with the stock rolling up after a brief retracement. I'm long some at 726 and might add more later.
3.30 pm The market is back to square and perhaps it's going to chop down towards the breakout level around 5800 to 5830 over the next few days. I'm agnostic about it because there's also the factor of a strong trend that will last longer than one thinks.
I've added another trade in the small caps in Kidman Resources. Long at 130 on a potential resumption following a little pennant.
In the large caps, I still have MPL that has drifted down to 309, 310 but it looks ok to me while I took a quick turn in MQA and sold a few of the extra NWH at 128 as it was stalling for a while. Otherwise, Platinum is finishing well and BPT has drifted back but looks excellent to me.
4.31 The index gained 4 and the market may not be quite ready to test support.
No new trades on the match but happy to see PTM finish well at 733 and did add more at 732.
My longs are modestly higher in the bigger stocks while the small caps have been helped along by a nice jump in NCZ. I actually added another handful at 141.5 yesterday as it broke the 140 resistance and sold some of the extra stock on the opening match at 157. That level has held it for most of the morning but it has now pushed on further to 161.
12.55 pm The ASX 200 has steadied and climbed through 5900 to be up 10 at 5904.
The retail component of the Beach Petroleum capital raising is sorted now with the new shares coming on tomorrow. It seems to have been enough to lift the stock and coming from a higher low, the stock looks pretty bullish now. I've added to an existing position at 90.
Talking of off and running, NCZ has eased, I just missed selling a couple at 160 so bit the bullet and sold them at 156. It's 155 now but I think this is simply an intraday pullback and I'd expect another run at 160 either today or tomorrow.
1.15 pm Platinum is in a strong uptrend and I've been looking for a buying opportunity. It's looking hopeful now with the stock rolling up after a brief retracement. I'm long some at 726 and might add more later.
3.30 pm The market is back to square and perhaps it's going to chop down towards the breakout level around 5800 to 5830 over the next few days. I'm agnostic about it because there's also the factor of a strong trend that will last longer than one thinks.
I've added another trade in the small caps in Kidman Resources. Long at 130 on a potential resumption following a little pennant.
4.31 The index gained 4 and the market may not be quite ready to test support.
No new trades on the match but happy to see PTM finish well at 733 and did add more at 732.
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