All quiet on the Western Front
11.54 am The December ASX 200 futures contract expired at the open this morning and seemed to drive a minor sell down of 20 points or so. There's been a little recovery since then although it's very cautious with the losses simply trimmed to 13 points.
Resources and US tax cut exposed businesses continue to be the leaders. I've added two new oil longs. The first is in BPT which is gaining lustre from the AWE takeover as the Lattice assets are seen to be a good buy. The chart is consolidating very nicely at high levels and there's a break from a higher low today on the daily chart although it's still within the recent trading range. Long at 115.
The other one is STO where I've bought at 518. It's pretty much the same set up as Beach.
The small caps are mixed with volume very light in some of them. I bought Macmahon Holdings at 23 earlier after thinking about it all day yesterday. It's a daily break after a two month, shallow correction.
12.42 pm I've bought some WHA at 163 in a similar set up to the one in NCZ that I wrote about yesterday. A long grinding correction holding support and starting to pop back up.
4.20 pm It was extremely quiet today and although the market looks as if it's due another day of correction at least, I've stuck with most longs as they're performing ok and just added balance with a short in CBA. Comm Bank seems to have made a lower high and started to roll over.
The small caps were pretty flat net but NCZ shows signs of a new swing from the range low as I was hoping. It closed up 5 at 126.5 on reasonable volume.
Resources and US tax cut exposed businesses continue to be the leaders. I've added two new oil longs. The first is in BPT which is gaining lustre from the AWE takeover as the Lattice assets are seen to be a good buy. The chart is consolidating very nicely at high levels and there's a break from a higher low today on the daily chart although it's still within the recent trading range. Long at 115.
12.42 pm I've bought some WHA at 163 in a similar set up to the one in NCZ that I wrote about yesterday. A long grinding correction holding support and starting to pop back up.
4.20 pm It was extremely quiet today and although the market looks as if it's due another day of correction at least, I've stuck with most longs as they're performing ok and just added balance with a short in CBA. Comm Bank seems to have made a lower high and started to roll over.
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