Christmas surprise

1.33 pm The market is quite a bit more active than expected though everything has ground to a halt now that's it (long) lunchtime. The market is sitting within the range of the last few days with a modest rise of 18 points. Most of my longs are performing and I cut the CBA short as it rallied early and negated my sell signal. I'm out of most of the Santos in the low 530s, DOW is finally starting to move and I sold SGR at 615. MLX is not really going with the rest of the sector but is up a couple of cents to 100. I assume there's a steady seller but the correction looks over and the dam may break next week.
I bought some MFG yesterday and added this morning at 2700. The stock has been building a base with short term resistance at 2700 and that has been tentatively breached with the price around 2720 now.

The small caps have been lacklustre this month with most that I follow being in retracement mode but today has been surprisingly strong. I bought some New Hope Coal on Monday at 237 and nothing much had happened but today has seen some strength with a rise of 9 to 249. There was a classic slow and shallow retracement and the next leg up is underway. I'm thinking that 260 to 270 would be the target and that's what I'm aiming for in my longer term focussed super fund, but in my active trading book I'm offering half at 252 with the hope that I can job around with a bullish slant.

4.27 pm The morning session was pretty much it. I bought a couple of A2M on the close though as it could push through short term resistance at 750 after Christmas and I'd like to get a toehold here.

I had a good day in a quiet way with the overall week quite healthy too.
Merry Christmas.