Good news for Bubs
12.08 pm It's a quiet start to the week with the market up 8 points on good overnight leads but possibly a spot of indigestion after recent gains.
My large cap positions are pretty flat with a couple of winners and a couple of losers while the best result has been in Bubs. It's up 8 to 72.5 thanks to a good quarterly and is charting pretty well. It looks ready to run nicely and 80 isn't out of the question for today.
MXC opened higher and popped to 8.3 but has reversed to be lower on the day. I missed the early highs but at this point I"m unconcerned. The other new position from Friday was in New Century Zinc where I was concerned about potential resistance around 140. That's still holding though the stock is up a cent or so.
12.32 pm Well that didn't take long. BUB trading at 81.5 now.
2.09 pm Bitcoin exchange DCC is on the move again. I had a quick trade in this about a week ago but this is a second rally from a higher low and looks quite hopeful. Long at 7.8 on an intraday resumption after an early peak.
Meanwhile, I sold out of half the MLX at 95 and I'm looking for 98 for the balance, currently it's 96. Bubs peaked at 84 and is currently 78.5, it may be worth buying some on an intraday signal as I sold a few before the announcement at 70 and then more at 78. Now that it has accelerated, the rally looks incomplete so there could be another decent day in it.
My large cap book is struggling to get any traction today in line with the market which is now square.
3.47 pm Out of the Fairfax at 109 and sold the last of the Afterpay at 551 as it starts to stall.
I've bought some MQA at 589. The stock looked good on Friday but a catalyst has emerged with the chance of a reduction in costs by taking management in house. It's accelerated so I've bit the bullet.
4.27 pm The winning streak is broken with the ASX 200 closing down 13 to 5894.
I kept some of my large caps as they seemed to be having inside days though I sold SFR at 589 as it recovered today and it was a judgement call to cut later having failed to cut early enough, it worked out ok and limited the damage.
DCC kept running and I sold half on the match at 8.9 along with some extra BUB I'd bought at 83.5. I sold the balance of the MLX at 98 towards the close and the stock kept running to finish on the day's high at 100 which suggests I've misread the strength of this.
NWH looked ready to push through 130 and I added to the position at 126.
My large cap positions are pretty flat with a couple of winners and a couple of losers while the best result has been in Bubs. It's up 8 to 72.5 thanks to a good quarterly and is charting pretty well. It looks ready to run nicely and 80 isn't out of the question for today.
12.32 pm Well that didn't take long. BUB trading at 81.5 now.
2.09 pm Bitcoin exchange DCC is on the move again. I had a quick trade in this about a week ago but this is a second rally from a higher low and looks quite hopeful. Long at 7.8 on an intraday resumption after an early peak.
My large cap book is struggling to get any traction today in line with the market which is now square.
3.47 pm Out of the Fairfax at 109 and sold the last of the Afterpay at 551 as it starts to stall.
4.27 pm The winning streak is broken with the ASX 200 closing down 13 to 5894.
I kept some of my large caps as they seemed to be having inside days though I sold SFR at 589 as it recovered today and it was a judgement call to cut later having failed to cut early enough, it worked out ok and limited the damage.
DCC kept running and I sold half on the match at 8.9 along with some extra BUB I'd bought at 83.5. I sold the balance of the MLX at 98 towards the close and the stock kept running to finish on the day's high at 100 which suggests I've misread the strength of this.
NWH looked ready to push through 130 and I added to the position at 126.
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