Banks joining in for once
12.06 pm The index is up a solid 37 points in a gradually strengthening market with resources underperforming and banks joining the rest of the industrials in posting healthy rises.
I've got resources but I'm holding for now. Stocks I'm following like CCL and CSR are doing well. CSR is in a nice uptrend and is confirming last week's consolidation with a resumption of the rally.
The best of the small caps in Synlait. I sold the first tranche at 870, better than the 856 I was offering at yesterday, and the stock is trading at 867.
1.31 pm Next DC looks to have completed a three wave pullback and to be turning back up. Long a couple here at 653 in case it spikes right back to the highs but I think it's more likely to do some work first.
4.23 pm The market closed up 27 to 5789 after retracing some of the early gains. I sold the GXY at 289 as it's testing support for the third time and Orocobre led the sector down with a production disappointment. It was never technically strong enough. Whitehaven had a poor day too, down 10 to 425 but I'm focussing on the weekly chart and will wait for the end of the week to see where it finishes since it's still in the range. BPT and NXT were fine, NXT holding most of the gains to close at 651.
The small caps were ok but didn't really go anywhere, even SM1 retraced to be up only 4 at 846.
I've got resources but I'm holding for now. Stocks I'm following like CCL and CSR are doing well. CSR is in a nice uptrend and is confirming last week's consolidation with a resumption of the rally.
1.31 pm Next DC looks to have completed a three wave pullback and to be turning back up. Long a couple here at 653 in case it spikes right back to the highs but I think it's more likely to do some work first.
4.23 pm The market closed up 27 to 5789 after retracing some of the early gains. I sold the GXY at 289 as it's testing support for the third time and Orocobre led the sector down with a production disappointment. It was never technically strong enough. Whitehaven had a poor day too, down 10 to 425 but I'm focussing on the weekly chart and will wait for the end of the week to see where it finishes since it's still in the range. BPT and NXT were fine, NXT holding most of the gains to close at 651.
The small caps were ok but didn't really go anywhere, even SM1 retraced to be up only 4 at 846.
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