Calming words
1 pm I switched it off but it seems that there are calming words from Xi Jinping which has helped the ASX 200 to kick harder after quickly shrugging off late US uncertainty. Currently the index is up 46 points at 5857 and all of my positions are doing well except CSL which is down a touch.
I did buy some Galaxy at 305 as discussed yesterday afternoon, even though I'm focussing on weekly signals.
However, the Galaxy weekly has tentatively turned so it could well be an early entry on a signal there.
The small caps are almost all higher too and I'm leaving them alone for today although there are a few stale positions that I'd like to exit at better levels.
4.16 pm Whenever I muse about my trading, the constant theme is to be more selective. At the moment the market is bouncing and I'm long a bunch of stocks, all of which are charting well, but in the long term if I'm almost always long only then I need to pick the two or three stocks that will trade higher in a falling market. It sounds difficult but it's not impossible.
The stock I like the most is Lynas and I bought some today at 252 on a tentative weekly break. I'll buy more later in the week if it can hold. Here's the weekly which reminds me a little of something like A2M a year ago.
I did buy some Galaxy at 305 as discussed yesterday afternoon, even though I'm focussing on weekly signals.
However, the Galaxy weekly has tentatively turned so it could well be an early entry on a signal there.
4.16 pm Whenever I muse about my trading, the constant theme is to be more selective. At the moment the market is bouncing and I'm long a bunch of stocks, all of which are charting well, but in the long term if I'm almost always long only then I need to pick the two or three stocks that will trade higher in a falling market. It sounds difficult but it's not impossible.
The stock I like the most is Lynas and I bought some today at 252 on a tentative weekly break. I'll buy more later in the week if it can hold. Here's the weekly which reminds me a little of something like A2M a year ago.
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