Pressing the mute button
12.26 pm It's a subdued start to the day with the index even going negative briefly although the market is up 0.4% now. In retrospect, GXY was a valid overnight trade but I have bought and sold some along with others in the sector and have had a good run so far. The banks continue to be under pressure and the reporting season is in full swing so there are interesting situations every day.
I suspect the market will strengthen all day. It held 5800 for the 3rd time yesterday, made a slightly higher low and has pushed through yesterday's high. This usually indicates a good chance of further strength tomorrow.
2.02 pm The market has crept higher, up 35 points now but underwhelming nevertheless.
I was tempted to hold some Whitehaven Coal overnight but didn't. I'm long at 453 and was expecting perhaps another 10 cents on that through the day but the stock has been steady virtually since the open and is currently 452. I'm pretty confident here as it's rolling up from a higher low and is trending well so I'll probably leave this as an overnight long.
4.21 pm Whitehaven didn't ever kick on but I've held it. Galaxy did well as an intraday trade and I sold the last at 344 but held some SYR.
The index finished pretty well and the SPI is racing after the stocks closed so it's a bullish set up for tomorrow.
I suspect the market will strengthen all day. It held 5800 for the 3rd time yesterday, made a slightly higher low and has pushed through yesterday's high. This usually indicates a good chance of further strength tomorrow.
2.02 pm The market has crept higher, up 35 points now but underwhelming nevertheless.
I was tempted to hold some Whitehaven Coal overnight but didn't. I'm long at 453 and was expecting perhaps another 10 cents on that through the day but the stock has been steady virtually since the open and is currently 452. I'm pretty confident here as it's rolling up from a higher low and is trending well so I'll probably leave this as an overnight long.
4.21 pm Whitehaven didn't ever kick on but I've held it. Galaxy did well as an intraday trade and I sold the last at 344 but held some SYR.
The index finished pretty well and the SPI is racing after the stocks closed so it's a bullish set up for tomorrow.
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