Promising signs in Bubs
11.20 am The market is cautiously higher this morning, gradually gaining after a tentative start despite quite good index leads which, admittedly, were watered down by weakness in commodities. Up 17 points with negligible ex dividends today.
My large caps are ok, A2M and NXT pretty flat, LYC up 3 to 244 and I'm offering half at 245 while SYD is the pick with a rise of 7 to 673. TCL which I sold out of yesterday is up a similar percentage amount to SYD and they generally move in tandem but I felt SYD was an easier trade being less clouded by the West Gate politics. The updated SYD chart shows how today's early trading is making a clear break .
The small caps are doing reasonably well with Kogan up another 20 and BUB having reversed back into the low 80s making a tentative buy signal. I added a few at 80.5 although I intend to flip them out at 84 if possible and hold the core position.
2.07 pm Out of the second half of the APT at 776 but just realised I went too early as it is starting to push again and has climbed further to 782. A pretty good trade nevertheless. Staying with the small caps, BUB hasn't gone anywhere but is holding the break. I'm thinking about adding some Cleanteq. It has raised $150 million for its cobalt project, had a long slow correction, the recent swing high breached prior resistance and a higher low might indicate a change in trend. Looks like I just bought a few at 125.5. I'm not going too hard at present because there's a share purchase plan at the issue price of 115 and a few hedge funds might be keen to take a quick turn. However, this raising has been hanging over the stock for a while so now it's complete, the pressure on the stock might ease.
3.31 pm The market has eased but is still 22 points higher. I've scanned through my watchlists and resources don't look too flash while most other things are looking ok. There is a handful of stocks I could add but apart from having sold half the LYC at 244, I haven't really created any room because I think my existing positions will perform pretty well.
Cleanteq has traded up to 128 and I needed to see a trade above 127 to firm up the scenario of a higher low being formed. Kogan has had another strong day, up 43 to 870. I have a target around 900 to sell.
3.56 pm Gold stocks have been under pressure today and Resolute has reversed to be down 6% at 118.5 after rising strongly over the first four days of the week. I'd buy some here but there's a fair bit of momentum. I've got a small order in at 117 and otherwise would wait for strength to buy more.
5.25 pm It was a pretty good day for my book with most longs rising more than the market which finished up 20 points.
My large caps are ok, A2M and NXT pretty flat, LYC up 3 to 244 and I'm offering half at 245 while SYD is the pick with a rise of 7 to 673. TCL which I sold out of yesterday is up a similar percentage amount to SYD and they generally move in tandem but I felt SYD was an easier trade being less clouded by the West Gate politics. The updated SYD chart shows how today's early trading is making a clear break .
2.07 pm Out of the second half of the APT at 776 but just realised I went too early as it is starting to push again and has climbed further to 782. A pretty good trade nevertheless. Staying with the small caps, BUB hasn't gone anywhere but is holding the break. I'm thinking about adding some Cleanteq. It has raised $150 million for its cobalt project, had a long slow correction, the recent swing high breached prior resistance and a higher low might indicate a change in trend. Looks like I just bought a few at 125.5. I'm not going too hard at present because there's a share purchase plan at the issue price of 115 and a few hedge funds might be keen to take a quick turn. However, this raising has been hanging over the stock for a while so now it's complete, the pressure on the stock might ease.
3.31 pm The market has eased but is still 22 points higher. I've scanned through my watchlists and resources don't look too flash while most other things are looking ok. There is a handful of stocks I could add but apart from having sold half the LYC at 244, I haven't really created any room because I think my existing positions will perform pretty well.
Cleanteq has traded up to 128 and I needed to see a trade above 127 to firm up the scenario of a higher low being formed. Kogan has had another strong day, up 43 to 870. I have a target around 900 to sell.
3.56 pm Gold stocks have been under pressure today and Resolute has reversed to be down 6% at 118.5 after rising strongly over the first four days of the week. I'd buy some here but there's a fair bit of momentum. I've got a small order in at 117 and otherwise would wait for strength to buy more.
5.25 pm It was a pretty good day for my book with most longs rising more than the market which finished up 20 points.
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