Fightback for resources and banks

11.48 am It's a rare day where a bullish overnight SPI lead has held into the first couple of hours of the session and the market is sitting higher by 40 points. Not such a good day for me as rotation into resources and, to some extent banks, has hit my longs in GEM and QAN. QAN was actually firmer early but has slipped into the red while GEM is also down close to 2%. I think they'll both drift back closer to square but missed a trick in QAN as it rolled over early.
I did buy some Orocobre at 493 as strength continues in the lithium plays. This was on my radar on the close but didn't quite make a buy signal then.

The small cap book is doing better with CLQ up 2 to 114.5 and BPT a bit firmer though BAL is slightly lower, just hovering below the top of the trading band around 800.

3 pm Lynas has been rallying for a while and has resumed the run up today. Long at 21.

 Staying with the small cap book, I've been long APT for a couple of weeks sitting out a retracement. Today's action is positive with the possibility of a higher low. I'll add on a good finish.

4.57 pm GEM and QAN gravitated back towards the unchanged level and I got close enough to the match price while ORE had a good afternoon and I sold at 509 and 517 to give myself a win in the large caps.
I actually put on three new large cap longs on or near the close but it added up to the usual dollar value. One of them was Santos. It resumed its run after retracing for 6 or 7 sessions.

Cleanteq was the pick of the small caps for me on another mildly positive day for that book. It rose 4 to 116.5 which was a new recent high and it seems to be accelerating.

It was a very strange week with two exuberant days sandwiching three gloomy negative performances. I'm hopeful of a good start to next week as we've well and truly tested the 5650 support level and it's about time we had a look at 5800.