Nickel bubbling again
11.29 am The market opened a tad weaker and has recovered to be up 8 at 5747. I'm expecting it to chop around for the rest of the day.
My large cap overnight positions are pretty good. BTT is climbing after a weak start and NXT is up 6 to 464. TWE is down 18 but it's a smaller position and the result of news of forest fires in California having a minor effect on a few of their vineyards.
Nickel popped 4% overnight and I decided to chase IGO early as I still like it despite cutting a long for square on last night's close. I was going a bit early and today's action - tentatively till we see the close - implies the start of another leg up. I'm long at 378 and it's slightly higher at 380.
In the small caps I got out of the balance in CLQ at 136 on early strength. I thought it might get into the low 140s but it peaked at 138.5 and is back to 131.
12.36 pm The small cap book is doing well again. One stock I've re-entered is MAH. Although it looks stretched, I think there's a chance that having finally pulled away from a long congestion around 16-18 cents, there could be blue sky ahead. There's always been a huge amount of buyers and sellers and it's beginning to seem to me as if the buyers have the upper hand. It's not a big position, more an intuition thing.
In the large cap book, I cut TWE at 1402 versus an entry at 1408.
3.30 pm IGO is wobbling, back to 376 and illustrating the perils of going early.
I'm going to add a second long on the match and sell out of BTT and NXT. It's a toss up between ALL and GEM depending on how the close looks. GEM is holding near the top of the breakout so perhaps that's edging it for me.
BAL has run this afternoon. I sold a smidgin at 848 and have a fraction more on offer at 876. It's at 870 now, up 5% on the day.
I've bought some Praemium at 49.5. That's already up more than 20% but it's massive volume on an upgrade and looks to be clearing out the sellers at levels that it's held for nearly a year. There's some resistance at around 52-53 which the volume would suggest could be broken.
4.30 pm The market did ok to finish down a point after looking weak for most of the afternoon. I went for GEM as it made a new short term high at 427 which is where I bought on the match. I sold NXT for 469, up 11, though I sold half lower sadly. BTT finished well and I like the intraday set up so decided to keep some.
Once again the small cap book made the running. The second tranche of BAL was sold at 876 and it finished up 43 at 873. PPS closed well at 51 and MSB was another new long at 169, a bit better than the match price of 173.5. Regarding Mesoblast, I'm trying to avoid hero trades, picking the big turnaround, but I like the daily chart a lot.
My large cap overnight positions are pretty good. BTT is climbing after a weak start and NXT is up 6 to 464. TWE is down 18 but it's a smaller position and the result of news of forest fires in California having a minor effect on a few of their vineyards.
Nickel popped 4% overnight and I decided to chase IGO early as I still like it despite cutting a long for square on last night's close. I was going a bit early and today's action - tentatively till we see the close - implies the start of another leg up. I'm long at 378 and it's slightly higher at 380.
12.36 pm The small cap book is doing well again. One stock I've re-entered is MAH. Although it looks stretched, I think there's a chance that having finally pulled away from a long congestion around 16-18 cents, there could be blue sky ahead. There's always been a huge amount of buyers and sellers and it's beginning to seem to me as if the buyers have the upper hand. It's not a big position, more an intuition thing.
3.30 pm IGO is wobbling, back to 376 and illustrating the perils of going early.
I'm going to add a second long on the match and sell out of BTT and NXT. It's a toss up between ALL and GEM depending on how the close looks. GEM is holding near the top of the breakout so perhaps that's edging it for me.
I've bought some Praemium at 49.5. That's already up more than 20% but it's massive volume on an upgrade and looks to be clearing out the sellers at levels that it's held for nearly a year. There's some resistance at around 52-53 which the volume would suggest could be broken.
4.30 pm The market did ok to finish down a point after looking weak for most of the afternoon. I went for GEM as it made a new short term high at 427 which is where I bought on the match. I sold NXT for 469, up 11, though I sold half lower sadly. BTT finished well and I like the intraday set up so decided to keep some.
Once again the small cap book made the running. The second tranche of BAL was sold at 876 and it finished up 43 at 873. PPS closed well at 51 and MSB was another new long at 169, a bit better than the match price of 173.5. Regarding Mesoblast, I'm trying to avoid hero trades, picking the big turnaround, but I like the daily chart a lot.
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