Cleanteq hopeful
12 pm The index is grinding higher with the big resource stocks leading the way although there's some minor strength in the banks too. My large caps are mildly stronger and I'm nibbling at DOW as it confirms yesterday's strength and may be ready to run again after a pennant style consolidation. Long at 705 with the aim of adding more on a good finish.
Cleanteq is breaking out now and could accelerate over the next couple of days if it can hold today's gains. Currently up 8.5 to 158.
4.19 pm When the market is grinding higher you often see days where the peak is early and it's followed by a slow chop down. Today was slightly different as there was an intraday double top but it amounted to much the same and this little leg up is running out of steam. The ASX 200 managed a rise of 5 points.
It wasn't the best afternoon in the large caps as A2M retraced to 761 though DOW and IPL mostly held minor gains. Cleanteq did pretty well, touching 160.5, and I sold a small amount at 160 while DCC finished with a spurt at 41 - I let go of half the balance at 40.
It's probably going to continue this way for the rest of the week so CLQ is my main hope for a non correlated gain.
4.19 pm When the market is grinding higher you often see days where the peak is early and it's followed by a slow chop down. Today was slightly different as there was an intraday double top but it amounted to much the same and this little leg up is running out of steam. The ASX 200 managed a rise of 5 points.
It wasn't the best afternoon in the large caps as A2M retraced to 761 though DOW and IPL mostly held minor gains. Cleanteq did pretty well, touching 160.5, and I sold a small amount at 160 while DCC finished with a spurt at 41 - I let go of half the balance at 40.
It's probably going to continue this way for the rest of the week so CLQ is my main hope for a non correlated gain.
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