Edging back towards 6000
12.16 ANZ and Westpac are ex dividend today which takes 11 to 20 points off the ASX 200 depending on how you assess the value of the franking. The market is down 18 to 6012 and is pretty steady given a fractionally weak lead.
The best performer is A2M as it resumes after a sharpish correction. I've gone long at 695 with hopes of a rush back up towards 750.
My other large caps have been neither here nor there and I've mostly cut them as it feels as if the market has changed tone after the good run over the last six weeks.
That changing of the guard is especially apparent in the small cap sector where some of the recent leaders have moved into volatile indecisive modes. I've been lightening the load in this book where I've recently felt nervous about being overinvested. I've taken losses where necessary but a few gainers such as Afterpay have mostly covered those losses.
12.39 pm Challenger is breaking through recent highs and I've gone long at 1376. I think it's just an extension of the current leg up so I'm not necessarily looking for a big move.
1.39 pm I've been long European Cobalt for a couple of days but it's shaping up nicely. I have the feeling it could run quite hard. I've actually sold some today at 26 but would like to reinstate my full position if it drops back.
2.29 pm It's definitely a more choppy market now. A2M eased back 20 cents from the intraday high although it's tentatively bid again.
EUC is 28 bid now, I bought back in at 27 and 27.5. Otherwise I'm taking a loss on some AGY, AJM and NAN and a small profit on CLQ.
3.50 pm It's been a steady deterioration for me as the day goes on despite very little change in the index. I'm getting cold feet about my large cap longs but will probably sit with reduced positions in A2M, CGF and IGO. In the small cap book, I've been taking the axe to problem positions and taking a few losses. I hope this will set me up for a couple of good days.
4.35 pm The market actually performed pretty well which helped to keep the losses quite manageable. Still, I'm much happier with my positions now especially in the small cap book. I have almost nothing in the large caps.
The best performer is A2M as it resumes after a sharpish correction. I've gone long at 695 with hopes of a rush back up towards 750.
That changing of the guard is especially apparent in the small cap sector where some of the recent leaders have moved into volatile indecisive modes. I've been lightening the load in this book where I've recently felt nervous about being overinvested. I've taken losses where necessary but a few gainers such as Afterpay have mostly covered those losses.
12.39 pm Challenger is breaking through recent highs and I've gone long at 1376. I think it's just an extension of the current leg up so I'm not necessarily looking for a big move.
1.39 pm I've been long European Cobalt for a couple of days but it's shaping up nicely. I have the feeling it could run quite hard. I've actually sold some today at 26 but would like to reinstate my full position if it drops back.
2.29 pm It's definitely a more choppy market now. A2M eased back 20 cents from the intraday high although it's tentatively bid again.
EUC is 28 bid now, I bought back in at 27 and 27.5. Otherwise I'm taking a loss on some AGY, AJM and NAN and a small profit on CLQ.
3.50 pm It's been a steady deterioration for me as the day goes on despite very little change in the index. I'm getting cold feet about my large cap longs but will probably sit with reduced positions in A2M, CGF and IGO. In the small cap book, I've been taking the axe to problem positions and taking a few losses. I hope this will set me up for a couple of good days.
4.35 pm The market actually performed pretty well which helped to keep the losses quite manageable. Still, I'm much happier with my positions now especially in the small cap book. I have almost nothing in the large caps.
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