Pennant break for Orocobre?
11.05 pm The index is back above 5900 having risen 13 to 5904. There were quarterly reports in two of my overnight longs, NST and SFR, and in the choppy early trade I just missed the chance to buy more ORI which is now up 50 to 2097. Never mind, I did pick up IGO at 428 which I sold 10 cents higher and also have added a new long in Orocobre at 502 and it looks to me as if it has completed a high, pennant style correction.
Afterpay is up another 5% this morning and I've sold half of the balance at 544. NWH announced a healthy contract win and has recovered to 120, could go the other way now. Otherwise, the smaller milk powder companies are looking good. I've added to BUB at 62.5 and bought some WHA at 138.
Here's the WHA daily.
Elsewhere in the small caps, I sold the last PPS at 57 and 55.5 while OVH has stalled and is down 2 at 71.
12.45 pm The market is looking toppy now and I've sold the NST at 516 versus my entry price of 524. It's actually held well but I'll look for another opportunity. I'm out of half the ORI at 2107 which is up 60 on the day and I missed my chance at 508 in ORE where I was pondering selling some. The stock has pulled back to 496.
I can't decide what to do in Sandfire. I'm concerned about the market but the stock is holding staunchly above the 600 breakout. Probably a bit of both in the end.
The small cap book is holding better and I've sold a quarter of the BUB at 64.5 and half the MLX at 85.5.
I've added a new long at 49 in a stock that's new to me. SW1 or Swift Networks. It's a breakout from a high consolidation.
1.59 pm I'm still uneasy though the market is holding ok at 5900. SFR has slipped below 600 but I'm inclined to hold most overnight, OZL is steady, copper is pausing but trending well and the quarterly seemed fine. Sandfire is a skittish stock with a lot of false moves, unlike OZL which trends well.
I've got out of half the SW1 at 52 and half the WHA at 145 opportunistically. SW1 especially since I know virtually nothing about it or why it's running.
3.33 pm I've bought Fairfax for the small cap book at 103 even though it's really a large cap. I just didn't want to buy too many since it's all over the shop but has found a bid thanks to demand for Domain once the stock split goes through.
4.25 pm The market looked very wobbly but eventually managed a small gain of 6 to 5896. ORE finished well enough at 500 and I trimmed SFR at 592 - almost the low of the day - before it finished at 597. I sold the last of the ORI at 2107 and put on a new position in Tatts at 407.
The small caps did well again. I sold some more BUB at 66 and it finished at 66.5. I exited mystery stock SW1 at the closing price of 55 and got out of a couple of small losers like PPH and UNV.
Here's the WHA daily.
12.45 pm The market is looking toppy now and I've sold the NST at 516 versus my entry price of 524. It's actually held well but I'll look for another opportunity. I'm out of half the ORI at 2107 which is up 60 on the day and I missed my chance at 508 in ORE where I was pondering selling some. The stock has pulled back to 496.
I can't decide what to do in Sandfire. I'm concerned about the market but the stock is holding staunchly above the 600 breakout. Probably a bit of both in the end.
The small cap book is holding better and I've sold a quarter of the BUB at 64.5 and half the MLX at 85.5.
I've added a new long at 49 in a stock that's new to me. SW1 or Swift Networks. It's a breakout from a high consolidation.
1.59 pm I'm still uneasy though the market is holding ok at 5900. SFR has slipped below 600 but I'm inclined to hold most overnight, OZL is steady, copper is pausing but trending well and the quarterly seemed fine. Sandfire is a skittish stock with a lot of false moves, unlike OZL which trends well.
I've got out of half the SW1 at 52 and half the WHA at 145 opportunistically. SW1 especially since I know virtually nothing about it or why it's running.
3.33 pm I've bought Fairfax for the small cap book at 103 even though it's really a large cap. I just didn't want to buy too many since it's all over the shop but has found a bid thanks to demand for Domain once the stock split goes through.
4.25 pm The market looked very wobbly but eventually managed a small gain of 6 to 5896. ORE finished well enough at 500 and I trimmed SFR at 592 - almost the low of the day - before it finished at 597. I sold the last of the ORI at 2107 and put on a new position in Tatts at 407.
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