High fliers
11.07 am Although BHP disappointed and is 5% lower post the result some other stocks have done terrifically with A2M continuing its amazing run of outstanding reports and gaining 22% so far. Other stand outs are Corporate Travel, Seven West and Lend Lease. The net effect is that our market is only down 5 points despite weak overnight leads and little support in the resources or the banks.
My positions are going reasonably well with IAG the pick, having gained 13 cents or 1.7%, while NXT is the best of the rest as it trades 4 or 5 cents higher.
2.01 pm I bit the bullet on the last of the PTM short at 776 as the stock seems well supported. In the small caps, I've bought some BUB. It announced a tie up with a Chinese retailer yesterday and surged. I've bought on a pullback to 76. A2M is higher again and BAL is up 10% in sympathy. There's a weekly break higher in the stock too. It may continue to congest for a day or two and there's going to be reporting risk but the upside potential is large with highs above 100 in early November.
3.48 pm I'm happy to stay long GNC as it starts to move following a subdued start today. Currently up 2%. I'll sell IAG and NXT by the close. IAG has done well but my reduced position in NXT was a mistake as I missed some early strength and it's now down 1%.
My new long position is in LLC. This has gapped 7% higher following a strong result and a long period out of favour. There's some catch up happening and I'm long at 1701, looking for another day or two up. The stock is on an undemanding valuation and has good exposure to the recovering European economy.
4.25 pm Out of the IAG and NXT on the match and still long GNC and LLC. The index edged a few points higher on a results heavy day.
My positions are going reasonably well with IAG the pick, having gained 13 cents or 1.7%, while NXT is the best of the rest as it trades 4 or 5 cents higher.
2.01 pm I bit the bullet on the last of the PTM short at 776 as the stock seems well supported. In the small caps, I've bought some BUB. It announced a tie up with a Chinese retailer yesterday and surged. I've bought on a pullback to 76. A2M is higher again and BAL is up 10% in sympathy. There's a weekly break higher in the stock too. It may continue to congest for a day or two and there's going to be reporting risk but the upside potential is large with highs above 100 in early November.
3.48 pm I'm happy to stay long GNC as it starts to move following a subdued start today. Currently up 2%. I'll sell IAG and NXT by the close. IAG has done well but my reduced position in NXT was a mistake as I missed some early strength and it's now down 1%.
My new long position is in LLC. This has gapped 7% higher following a strong result and a long period out of favour. There's some catch up happening and I'm long at 1701, looking for another day or two up. The stock is on an undemanding valuation and has good exposure to the recovering European economy.
4.25 pm Out of the IAG and NXT on the match and still long GNC and LLC. The index edged a few points higher on a results heavy day.
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