Reporting season is a good one
10.57 am The reporting season was unexceptional early on but the last couple of days have seen some excellent results with todays standouts being OZL, FLT, QAN, WEB, CWN and NEC with A2M running hard again. It's allowed the market to ignore a negative lead from Wall Street although I feel as if it's a missed opportunity as my reporting day long in LLC is only modestly higher while GNC is pretty flat. I almost plumped for SFR which is up over 3% so that's one that got away.
Bubs, at least, has done well with a rise of 5 to 80.5.
12.57 pm The index reversed from the early highs as weak regional markets and US overnight futures have dampened spirits. Looking at the days action - albeit halfway through the day - it seems as if this could be the end of the first leg of the recovery from the big fall. The last few days have ground higher and today's potential reversal sets us up for weakness.
4.15 pm We didn't get the reversal day after all as the index steadied but it is looking like a potential turning point.
I added a long in QAN half an hour before the close at 563 and I had cause to regret that as some late selling took it down to 558 which was a gain of 6%. It's a nice break on the daily and the weekly and a better than expected result but it was a weak finish and might suggest more gap filling before it goes again.
Origin Energy slipped after a strong recent bounce and is rolling over from a lower high. Short on the match at 909.
Bubs, at least, has done well with a rise of 5 to 80.5.
12.57 pm The index reversed from the early highs as weak regional markets and US overnight futures have dampened spirits. Looking at the days action - albeit halfway through the day - it seems as if this could be the end of the first leg of the recovery from the big fall. The last few days have ground higher and today's potential reversal sets us up for weakness.
4.15 pm We didn't get the reversal day after all as the index steadied but it is looking like a potential turning point.
I added a long in QAN half an hour before the close at 563 and I had cause to regret that as some late selling took it down to 558 which was a gain of 6%. It's a nice break on the daily and the weekly and a better than expected result but it was a weak finish and might suggest more gap filling before it goes again.
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