Setting up
11.19 am The overnight SPI contract gained 20 points but our market is now down 4 at 6010 after opening a tad stronger. I'm not unhappy with the set up because I wanted to see a minor new low closer to 6000 and the intraday low is 6009. It dosn't mean it's going to turn but technically it seems to have fulfilled the minimum requirements so I'm more optimistic than I have been all week.
Mind you, it's the same old story, I have the wrong book and I'm doing worse than the market.
2.11 pm The XJO is continuing to make a base with an intraday low of 6007 and it's currently a point or so above that.
My best trade this week has been in A2M and I bought more this morning at 760. The stock is now 776 which is above last week's high and I'm holding the position, hopefully for a few days as I think it can test the highs.
4.32 pm The market's intraday low was 6002 with a finish at 6006, down 9. I've been focussing on the XJO this week because it's in correction mode and I think it could be a short term low, there's divergence etc but until there's a turn, I'm swimming against the tide and trying to be very focussed on any longs I do take.
So A2M was a good choice as it ran all afternoon and finished up 39 at 792 making it a winning day overall despite no real joy elsewhere including in the small caps.
Mind you, it's the same old story, I have the wrong book and I'm doing worse than the market.
2.11 pm The XJO is continuing to make a base with an intraday low of 6007 and it's currently a point or so above that.
My best trade this week has been in A2M and I bought more this morning at 760. The stock is now 776 which is above last week's high and I'm holding the position, hopefully for a few days as I think it can test the highs.
4.32 pm The market's intraday low was 6002 with a finish at 6006, down 9. I've been focussing on the XJO this week because it's in correction mode and I think it could be a short term low, there's divergence etc but until there's a turn, I'm swimming against the tide and trying to be very focussed on any longs I do take.
So A2M was a good choice as it ran all afternoon and finished up 39 at 792 making it a winning day overall despite no real joy elsewhere including in the small caps.
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