NWH through the level
1.01 pm A good result for the bulls with the ASX 200 drawing away from 5900 with a gain of 37 to 5946 and the old All Ordinaries through 6000.
NWH has popped through recent highs to be up 3.5 at 132.5 giving me confidence that the odd recent pattern has been a flat, bullish correction.
Nickel rose strongly overnight and the nickel stocks have followed that lead. I'm long IGO and added more on the open at 415. The daily looks good with a resumption in trend after short sharp sell off. Obvious short term target is around 450.
My small caps are struggling a little today, no real problems but a bunch of stocks that are edging lower and no good winners.
2.24 pm Beach has also been firm today. I sold my balance at 102.5, too early as it's now at 105. XRO was strong early but pulled back strangely. I'm still confident but regret not taking some off.
Cobalt stocks are in favour today along with nickel producers. I've bought back into Kidman at 130 on a resumption after a 3 wave pull back.
4.49 pm The market held most of the gains with the ASX 200 closing up 29 to 5938.
My small cap book lost money but the large caps more than compensated. The two strongest lithium stocks are Galaxy and Orocobre. Both of these had good days. I was already in ORE but added GXY at 364 as it looks to be resuming the rally and I'm hoping for around 390 here.
NWH has popped through recent highs to be up 3.5 at 132.5 giving me confidence that the odd recent pattern has been a flat, bullish correction.
2.24 pm Beach has also been firm today. I sold my balance at 102.5, too early as it's now at 105. XRO was strong early but pulled back strangely. I'm still confident but regret not taking some off.
Cobalt stocks are in favour today along with nickel producers. I've bought back into Kidman at 130 on a resumption after a 3 wave pull back.
4.49 pm The market held most of the gains with the ASX 200 closing up 29 to 5938.
My small cap book lost money but the large caps more than compensated. The two strongest lithium stocks are Galaxy and Orocobre. Both of these had good days. I was already in ORE but added GXY at 364 as it looks to be resuming the rally and I'm hoping for around 390 here.
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