Consolation prize
11.54 am Back at work after Christmas with another holiday week due. It's pretty quiet although a touch firmer with the index up about a third of a percent. The consolation prize is the second day of the Boxing day test which is, I imagine, what the skeleton staff will be watching at most broking houses.
Gold stocks are continuing their recent bounce and NST has performed pretty well for me with a rise of 16 to 612. I've bought and sold for a small gain and I'm holding a core position. It has been consolidating at the highs and broke through today.
The whole sector is well bid with NCM the laggard but starting to rally now.
Otherwise JBH has kicked again after a correction and I bought some at 2532.
The small cap gold pick is Dacian which I bought at 271. Again, it's a nice break after a high congestion.
3.26 The market has foundered at resistance around 6080-6090. This level has held for 5 consecutive trading days so we might be due a little more of a correction. Regardless of that, I'm in long only mode but I guess the gold longs could be a short index proxy in what's looking like a return to a normal pattern after the recent dissonance during the euphoric phase of the cryptocurrency boom.
Resource stocks look fine too and I've bought some WHC at the day's high of 446 as it looks good following a short, sideways congestion at the recent high.
The small caps are showing a flat result overall with one stale position in EUC wiping out a few good results as it fell from 17 to 11.5 following poorly received drilling results and the resumption of trading after a suspension. I'm pretty comfortable with the rest of the book though and if I'm honest, EUC was an obvious cut for about a week before the halt. Better late than never and I sold at 12.
4.24 pm The ASX 200 closed unchanged at 6069 and my large cap book ended up costing a little. Most of this was made up by the small cap positions following some late session strength. One of the best was DCN where I sold half of this morning's long at 286. However, I also added new longs in gold minnows Perseus and Silver Lake.
Gold stocks are continuing their recent bounce and NST has performed pretty well for me with a rise of 16 to 612. I've bought and sold for a small gain and I'm holding a core position. It has been consolidating at the highs and broke through today.
Otherwise JBH has kicked again after a correction and I bought some at 2532.
3.26 The market has foundered at resistance around 6080-6090. This level has held for 5 consecutive trading days so we might be due a little more of a correction. Regardless of that, I'm in long only mode but I guess the gold longs could be a short index proxy in what's looking like a return to a normal pattern after the recent dissonance during the euphoric phase of the cryptocurrency boom.
Resource stocks look fine too and I've bought some WHC at the day's high of 446 as it looks good following a short, sideways congestion at the recent high.
4.24 pm The ASX 200 closed unchanged at 6069 and my large cap book ended up costing a little. Most of this was made up by the small cap positions following some late session strength. One of the best was DCN where I sold half of this morning's long at 286. However, I also added new longs in gold minnows Perseus and Silver Lake.
Comments
Post a Comment