Passing the winning post
12.01 pm It's Melbourne cup day and the index has passed the 6000 post this morning although it has slipped slightly below now.
A very good day for me in both large and small cap books with the themes I was playing going pretty well. Best performer in the large caps is PTM which is up 35 at 777. I sold a third at 561 and hoping to sell a few more around 780. I'm out of MFG around current levels which is up about 2.5% and TAH for a few cents gain. Copper and nickel stocks are firm again and I bought back into SFR and WSA while taking small profits in IGO and OZL.
BSL is up 5% this morning. It's a nice chart but there wasn't an entry and unless you got on board early this morning, the best gains might have passed given I would have been looking to around 1350-1375 as the top of a trend channel. Having said that, I'm keeping an eye out for an intraday entry or a daily entry in a day or two on a congestion.
Bubs kicked again and I've sold half the balance at 105 with hopes for 110ish for the rest. A new small cap position is in MMJ, another pot stock. It's up 4 to 39 on decent volume after a higher low. I'm in at 39 with a break of 40 key to a decent run up. Next resistance would be 45.
I bought some Senex Energy at 36 yesterday. It hasn't kicked hard, just up a half a cent but I like the chart, it's building well. It's just a slow mover compared to some of the others I trade in this book.
12.21 pm I think the market is winding to a close with many cup lunches about to start so getting out of the second tranche of PTM at 776, a little SYR at 367 and some EVN at 244.
2.11 pm Birigian, another lithium hopeful I think, has an interesting chart. I bought two days ago at 38 only for the stock to be sold off to 35. A resource update this morning gave me a chance to exit half the position for my entry price but it's shaping up well now. It obviously would help if it got through 40.
BSL had a sell off and I bought at 1318. Looking good for the moment with a resumption and a push back to 1331.
2.32 pm Back into LIT at 24 as it looks to be accelerating.
Otherwise, out of this mornings longs in SFR and WSA for about 8 cents gain on each. Holding EVN though I've jobbed some stock and I've been in and out of FMG on the long side.
I bought more IGO at 442. I like the break up after two inside days following a run up.
Not a lot new from the RBA statement.
3.29 pm Post the running of the cup things are hotting up. Out of the BSL at 1333 and 1342 and some of the IGO at 448 and OSH at 747 which is up 21 on the day.
3.55 pm Long Cleanteq again at 160 as it looks ready to retest the highs.
4.34 pm A good day across both books. I covered my two shorts for minor losses especially as the banks look due a rally. I didn't buy any banks but did add a couple of longs in non resource stocks like BXB, CGF and SEK. Here's the Challenger chart, a straightforward resumption from a higher low after a minor pull back.
The ASX 200 finished very close to the day's high at 6014 and looks set for more gains.
A very good day for me in both large and small cap books with the themes I was playing going pretty well. Best performer in the large caps is PTM which is up 35 at 777. I sold a third at 561 and hoping to sell a few more around 780. I'm out of MFG around current levels which is up about 2.5% and TAH for a few cents gain. Copper and nickel stocks are firm again and I bought back into SFR and WSA while taking small profits in IGO and OZL.
BSL is up 5% this morning. It's a nice chart but there wasn't an entry and unless you got on board early this morning, the best gains might have passed given I would have been looking to around 1350-1375 as the top of a trend channel. Having said that, I'm keeping an eye out for an intraday entry or a daily entry in a day or two on a congestion.
12.21 pm I think the market is winding to a close with many cup lunches about to start so getting out of the second tranche of PTM at 776, a little SYR at 367 and some EVN at 244.
2.11 pm Birigian, another lithium hopeful I think, has an interesting chart. I bought two days ago at 38 only for the stock to be sold off to 35. A resource update this morning gave me a chance to exit half the position for my entry price but it's shaping up well now. It obviously would help if it got through 40.
2.32 pm Back into LIT at 24 as it looks to be accelerating.
I bought more IGO at 442. I like the break up after two inside days following a run up.
3.29 pm Post the running of the cup things are hotting up. Out of the BSL at 1333 and 1342 and some of the IGO at 448 and OSH at 747 which is up 21 on the day.
3.55 pm Long Cleanteq again at 160 as it looks ready to retest the highs.
4.34 pm A good day across both books. I covered my two shorts for minor losses especially as the banks look due a rally. I didn't buy any banks but did add a couple of longs in non resource stocks like BXB, CGF and SEK. Here's the Challenger chart, a straightforward resumption from a higher low after a minor pull back.
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