Qantas to the rescue
11.48 pm The index has had a decent push of 29 points, compensating for Friday's weak performance. Apart from a long in SYR and a short in PTM, I took a long in QAN as it continues its recover from a pretty steep 3 month pullback.
PTM is up 10 to 770 on very light volume and I'm regretting not plumping for a short in MFG instead. Another international fund manager but with a weaker chart following a result which disappointed the market. It's basically flat in a firmer market.
4.22 pm The market strengthened but PTM eased from the intraday highs. I bought half back at 766 and left the rest along with adding a short in MGF at 2499. I sold QAN at 532, up 10, which was a good result and went a bit too early when I sold SYR at 343 for a small gain but worse than the closing price.
I put on two new longs in IAG and NXT.
IAG surged on a well received result and has consolidated right up at the recent highs. I think it's ready to push higher, perhaps to 800. Long at the final price of 781.
Next DC is considered to be a takeover target as well as being a well performing stock in a growth sector - data centres. It has been choppy lately but seems to be finding support at higher levels and I'm looking for a push through the recent high. Long at 617.
4.22 pm The market strengthened but PTM eased from the intraday highs. I bought half back at 766 and left the rest along with adding a short in MGF at 2499. I sold QAN at 532, up 10, which was a good result and went a bit too early when I sold SYR at 343 for a small gain but worse than the closing price.
I put on two new longs in IAG and NXT.
IAG surged on a well received result and has consolidated right up at the recent highs. I think it's ready to push higher, perhaps to 800. Long at the final price of 781.
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