AMP the official scapegoat
1.02 pm The market is up 32 points, solidly through the big figure to 5918. I've been looking for an acceleration day and this may be it. Not that it's done me much good as I'm skewed to resources which were hit overnight on a softening of sanctions and the financials have built on yesterday's recovery as AMP makes everyone else look good.
I've added to a small Sundance Energy long at 6.4 as a lot of stock was crossed early at 6, indicating to me that the overhang from the issue at 5.9 has been cleared. Oil keeps rising, shale properties are in demand and the acquisition may come to be seen as well timed. There's a clear break from a higher low today on very good volume.
4.32 pm The ASX 200 rose 36 points to 5922 on a rebalancing sort of day where resources were flat to down heavily and most other things bounced.
I bought some Platinum at 550 looking for a 1-2-3 buy signal after a tentative higher low. It's not the sort of chart I'm a fan of but it's heavily oversold and the combination of bouncing Asian markets and a falling AUD works in the company's favour.
I like the Altium chart better and I bought this too. It broke yesterday's high of 2063 and was up 68 at 2044 in a strong performance, indicating a push back to 2200.
I made room for the new longs by getting rid of some underperforming resource longs though I kept half the WHC.
The small caps were flat overall in a swings and roundabouts sort of way.
I've added to a small Sundance Energy long at 6.4 as a lot of stock was crossed early at 6, indicating to me that the overhang from the issue at 5.9 has been cleared. Oil keeps rising, shale properties are in demand and the acquisition may come to be seen as well timed. There's a clear break from a higher low today on very good volume.
4.32 pm The ASX 200 rose 36 points to 5922 on a rebalancing sort of day where resources were flat to down heavily and most other things bounced.
I bought some Platinum at 550 looking for a 1-2-3 buy signal after a tentative higher low. It's not the sort of chart I'm a fan of but it's heavily oversold and the combination of bouncing Asian markets and a falling AUD works in the company's favour.
I like the Altium chart better and I bought this too. It broke yesterday's high of 2063 and was up 68 at 2044 in a strong performance, indicating a push back to 2200.
I made room for the new longs by getting rid of some underperforming resource longs though I kept half the WHC.
The small caps were flat overall in a swings and roundabouts sort of way.
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