Groundhog
11.18 pm The index has chopped back above 6000 again which is a surprise to me because the action looked ominous yesterday. Not a bad session though with MLX coming good, DOW higher and HVN flat.
The small caps have done well too as NCZ came back from a trading halt with good news about the old Pasminco mine being able to restart. It's up 14 to 146 and 160 would be the first target. I've been long this since November the 8th having bought too early in the low 140s on what I thought was a pennant. The stock slipped lower and traded around support at 120 before resuming the run.
I've been long Updater for just over a week and with the potential that a higher low has formed, this one is starting to go my way. I'd be pleased if it rallied through the recent high of 125.5 to confirm that higher low.
DCC is up 3 today and I'm holding my current longs as I think there could be more in it.
12.06 pm Everything's on hold for the Chinese open as their recent weakness could knock this rally on the head.
12.56 pm There's been rotation into yield stocks over the last couple of days. MGR is one of them and I plan to buy some later on if it can hold the gains.
2.43 pm It's very much groundhog day with an early move above 6000 failing and the ASX 200 falling into the red. I'm slightly ahead, I did take some profit in both the large and the small caps but not enough in hindsight. The best thing I've done is not rush into any new purchases. Even if something is looking good, it's the corrective phase where nerves set in and the best buying is late in the day.
3.47 pm The market is hanging in there slightly better than I expected. Long small in SBM and VOC.
Vocus looks surprisingly good having broken out of a tight range yesterday and held very well today.
Not so much MLX though which gave up it's early strength. I'll sell a bit more on the close and see what tomorrow brings.
6.57 pm I didn't end up buying any MGR as it eased back. HVN managed a minor gain and I got out of half the balance of MLX and PLS. New positions in SBM and VOC closed well enough.
NCZ was the pick of the small caps and closed up 11 to 143. I bought some SCU at 6.4 cents as it resumed after a correction.
The small caps have done well too as NCZ came back from a trading halt with good news about the old Pasminco mine being able to restart. It's up 14 to 146 and 160 would be the first target. I've been long this since November the 8th having bought too early in the low 140s on what I thought was a pennant. The stock slipped lower and traded around support at 120 before resuming the run.
12.06 pm Everything's on hold for the Chinese open as their recent weakness could knock this rally on the head.
12.56 pm There's been rotation into yield stocks over the last couple of days. MGR is one of them and I plan to buy some later on if it can hold the gains.
2.43 pm It's very much groundhog day with an early move above 6000 failing and the ASX 200 falling into the red. I'm slightly ahead, I did take some profit in both the large and the small caps but not enough in hindsight. The best thing I've done is not rush into any new purchases. Even if something is looking good, it's the corrective phase where nerves set in and the best buying is late in the day.
3.47 pm The market is hanging in there slightly better than I expected. Long small in SBM and VOC.
Vocus looks surprisingly good having broken out of a tight range yesterday and held very well today.
6.57 pm I didn't end up buying any MGR as it eased back. HVN managed a minor gain and I got out of half the balance of MLX and PLS. New positions in SBM and VOC closed well enough.
NCZ was the pick of the small caps and closed up 11 to 143. I bought some SCU at 6.4 cents as it resumed after a correction.
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