Milk run

11.08 pm All the powdered milk companies have been strong today. Sector leader A2M opened very strongly though it's easing now while BAL is up at 928, another 6% rise. I'm almost out having sold at 892, 902 and 930. In the small cap book I've added BUB and WHA, smaller players in the sector that are looking ready for a run. Here's the WHA chart.
PPS was a big mover yesterday and I hesitated and missed the early peak at 55. I've sold half out at 51.5 for a 2 cent gain and it's back at 50.5. Bell Potter have upgraded with a target price of 100 but I don't want to find myself sitting through a correction so was happy to take some off.
In the large caps, I think I pulled the wrong rein in GEM which is struggling to find traction at new highs on a strong day. I'm looking to exit this early. Otherwise, I missed a late announcement yesterday in PTM regarding decent inflows for September on top of good performance. It was on my shortlist on yesterday's close so I paid up to 674 at the opening match to get some. Just as well as it has pushed up to 687 now.
IGO was my other main overnight long and that's up 5 as nickel managed to hold the previous night's 4% gain and add another half a percent. I like the way it's shaping up.
11.38 am I'm out of GEM at 424 for a 3 cent loss and half of the new PTM for 694, a 20 cent gain, with the other half on offer at 698. I'm away from my desk till later so clearing the decks.

3.39 pm Back from a long overdue catch up with old friends.
I've just sold the last half of PTM for 698 for a good gain on the intraday trade. I also sold a quarter of the BUB at 53.5 as it plays catch up with BAL and A2M. Out of the last of the BAL at 964...now 974! Up 101 on the day.
I'm keeping IGO overnight and I've added SYR which has been building a high base and is kicking again this afternoon. Long at 375.


4.28 pm Sold another few BUB on the match at 56 and a quarter of the WHA at 104 versus an entry price of 95.5.
I bought some Ausdrill at 218 towards the close. It seems to be resuming a decent rally following a 6 week sell off post the result.
Both the large cap and the small cap book did well today. The standout was obviously Bellamy's for which I had a target of 900 so the sales above that level were a bonus and rolling into sector plays BUB and WHA has been good too.
In the large cap book I'm still long a quarter of the initial position in BTT. It ran 1% today and I was tempted to hold the full size as I think it will gather momentum one of these days but SYR was a much better short term chart and after 3 consecutive up days and closing in on 5800, I'm loathe to go too hard.


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