A2 on the charge
11.19 am A2 Milk's AGM brought good news and the stock popped to the top of a minor corrective trend channel. I sold a little at 737 and then bought back at 738 as no sell off eventuated. Earnings and profit growth show no sign of slowing so it's reasonable to expect further gains today. It's currently 739 and could still top out here but I think the underlying news means that's unlikely. Watching it closely but hopeful of a move to around 755-760 if it can clear this resistance.
Otherwise the small caps are pretty quiet with a few up and a few down. PNV was bought on the close and that's unchanged while I've added a new long in LNG at 50.5. It's built a nice base with a couple of higher lows.
The overall market is muted and choppy as is the recent pattern so there's not that much more of note happening. Up 10.
12.49 pm I've gone long cobalt hopeful N27 at 51 and sold half at 53 because the options are trading at a discount and I've picked up a few of them too. It's very speccy but running again after a correction.
I've also bought another tiddler, Bod Australia, a medical cannabis company. Long at 18.5 after a resumption of the rally.
1.23 pm Out of half of yesterday's PNV for 37.5 and half of a longer term holding of MMJ at 49. I would normally be buying more on this sort of move but it has flattered to deceive lately and the market has been choppy so I've been cautious here.
2.37 pm A2M is creeping higher, up to 745, and I'm hoping for a drive higher as we move towards the close. Otherwise PTM and S32 are steady and I'm hopeful of progress later in the week.
Out of half of the BDA at 20.5 although LNG is stalled. Also out of a small balance in Get Swift at 214, just above my entry price.
The ASX 200 index is up 18 points but I'm still pretty cautious. I'm wondering if today's action is part of a minor rally before another test of the lows. Either it accelerates and we run hard again or, more likely, a test of 5900 is the trigger for the next bullish spell.
3.38 pm The market might be a tad stronger than I originally thought. I've run through most of the top 200 and there are quite a few promising looking charts. One of them is Nufarm where I've bought at 888.
There's a bounce after a second higher low, a sort of coiling pattern.
3.45 pm I ended up biting the bullet in MMJ and buying more at 52.5 despite having sold some at 49. Up to 55 now.
4.27 pm A pretty good day with A2M the best for me. I sold some on the match at 746 and kept some too. In the small caps the pharmaceuticals had a run and I'm long a few of them in the medical cannabis area and one stem cell stock. BDA finished at 26.
12.49 pm I've gone long cobalt hopeful N27 at 51 and sold half at 53 because the options are trading at a discount and I've picked up a few of them too. It's very speccy but running again after a correction.
1.23 pm Out of half of yesterday's PNV for 37.5 and half of a longer term holding of MMJ at 49. I would normally be buying more on this sort of move but it has flattered to deceive lately and the market has been choppy so I've been cautious here.
2.37 pm A2M is creeping higher, up to 745, and I'm hoping for a drive higher as we move towards the close. Otherwise PTM and S32 are steady and I'm hopeful of progress later in the week.
Out of half of the BDA at 20.5 although LNG is stalled. Also out of a small balance in Get Swift at 214, just above my entry price.
The ASX 200 index is up 18 points but I'm still pretty cautious. I'm wondering if today's action is part of a minor rally before another test of the lows. Either it accelerates and we run hard again or, more likely, a test of 5900 is the trigger for the next bullish spell.
3.38 pm The market might be a tad stronger than I originally thought. I've run through most of the top 200 and there are quite a few promising looking charts. One of them is Nufarm where I've bought at 888.
There's a bounce after a second higher low, a sort of coiling pattern.
3.45 pm I ended up biting the bullet in MMJ and buying more at 52.5 despite having sold some at 49. Up to 55 now.
4.27 pm A pretty good day with A2M the best for me. I sold some on the match at 746 and kept some too. In the small caps the pharmaceuticals had a run and I'm long a few of them in the medical cannabis area and one stem cell stock. BDA finished at 26.
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