Nickel plated
12.27 pm The ASX 200 is almost flat - up 2 points - but it's a tale of two cities with banks down post the NAB result and resources higher. IGO, ORE and OZL have been good performers for me in the large caps. The smaller stocks are not going so well. Periodically I let the book get a bit too big so I'm trying to reduce, there's still a gain here but I could definitely tighten things up.
For some reason Western Areas has lagged Independence slightly and as I've sold a few IGO, I've bought into WSA at an average of 298. I think it's a straightforward resumption of trend.
2.12 pm I'm out of Orocobre for now, selling the last at 531 with the stock closing last night at 500 and touching 541 briefly. Galaxy hasn't participated in the rally. I sold my balance on the open at 379 but bought back in at 370. The stock is now 365 but continues to look hopeful to my eye.
Sticking with the Gs, I've bought some Get Swift at 254. I'm hoping for a new tilt at the highs after a 3 wave correction. There's a chance of a higher low here.
Otherwise in the small caps I'm clearing the decks. Out of BVS, LIT, NWH, most of the KDR and half of the PAN and XRO for gains balancing against some losses in NEU, MMJ and DTL and some unrealised losses here and there to leave a small net profit to this point of the day.
3.58 pm I'm buying some short term momentum in Karoon with a purchase at 131. The weekly is not good but this is a stock with more cash than the market cap and plenty of prospects. May be finally getting some support on the back of the oil price strength.
4.27 pm Well, a pretty good day really even if I got out of ORE too early. I'm keen on OZL for tomorrow. On the weekly chart, it's quite rangy but the daily has held at support around 800 after what looks like a 3 wave retracement. There's a little short term resistance at 825-830 which will be the test tomorrow if the rally continues.
For some reason Western Areas has lagged Independence slightly and as I've sold a few IGO, I've bought into WSA at an average of 298. I think it's a straightforward resumption of trend.
2.12 pm I'm out of Orocobre for now, selling the last at 531 with the stock closing last night at 500 and touching 541 briefly. Galaxy hasn't participated in the rally. I sold my balance on the open at 379 but bought back in at 370. The stock is now 365 but continues to look hopeful to my eye.
3.58 pm I'm buying some short term momentum in Karoon with a purchase at 131. The weekly is not good but this is a stock with more cash than the market cap and plenty of prospects. May be finally getting some support on the back of the oil price strength.
4.27 pm Well, a pretty good day really even if I got out of ORE too early. I'm keen on OZL for tomorrow. On the weekly chart, it's quite rangy but the daily has held at support around 800 after what looks like a 3 wave retracement. There's a little short term resistance at 825-830 which will be the test tomorrow if the rally continues.
Comments
Post a Comment