Ups and downs
10.35 am The severe reactions keep on coming in reporting stocks. I'm a bit disappointed because NXT is up 13% and PTM down about the same. I was bullish NXT and bearish PTM ahead of results but the nature of these extreme reactions makes me wary of holding positions over reporting season. It would be great to have some options to play with but the ASX worked very hard to destroy that market.
The index is up 20 points although it's quickly fading after a surprisingly strong open. Initial marks aren't too bad with QAN back up to 567 though ORG is up to 920. The small caps are subdued with BUB up slightly.
1.14 pm BUB has started to run up now after pausing for a few days around 80 cents. I added more at 83.5 with the thought that 95-100 might be a reasonable target for sometime next week.
4.21 pm Quite a good day in the end. I kept the QAN which closed at 573 and the ORG which didn't go too far, up 7 to 916. I have a new long in Iluka at the match price of 981. In this stock I'm assuming this is the start of another leg up after the rally from early February lows. Wave equality would take it to about 1020 though the weekly is still reasonably supportive and a push to 1050 is not out of the question.
Bubs finished at the day's high of 89.5. The index surprised with a rise of 49 to a fraction of a point below 6000. It seems to be gathering momentum now.
The index is up 20 points although it's quickly fading after a surprisingly strong open. Initial marks aren't too bad with QAN back up to 567 though ORG is up to 920. The small caps are subdued with BUB up slightly.
1.14 pm BUB has started to run up now after pausing for a few days around 80 cents. I added more at 83.5 with the thought that 95-100 might be a reasonable target for sometime next week.
4.21 pm Quite a good day in the end. I kept the QAN which closed at 573 and the ORG which didn't go too far, up 7 to 916. I have a new long in Iluka at the match price of 981. In this stock I'm assuming this is the start of another leg up after the rally from early February lows. Wave equality would take it to about 1020 though the weekly is still reasonably supportive and a push to 1050 is not out of the question.
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