Drip feed

1.25 pm The index is up 19 points with the major banks lower again as the Royal Commission keeps the bad news coming and analysts examine the entrails on potential problem loans. It's been a reasonably good day for me because I was short some ANZ and CBA which I've mostly covered now and WOR has done well too though WHC faded after a bright start and I've cut it. The small caps are modestly higher too despite a minor drop in APX as a couple of longs from last night in Afterpay and SXL have gone my way.

4.30 pm The index extended gains once some support came through for the banks and it finished 43 points higher at 5954. I was looking for a squeeze higher and I think there's more to come.
I sold my large cap longs and rolled them into BXB, NUF and ORI all of which are running already but seem to be in the fast moving stage. My favourite of the three is Orica. I was long this last week, looking for a range break and missed it yesterday. I think there's more to come in the short term and I paid 1978 just before the close to get set as it surged through daily and weekly resistance levels around 1940-1950. The 30 minute chart shows the strong finish.

 The small caps benefited from the rise with Appen finishing in the black. I sold APT and SXL and bought HUB. After last week's break it dropped back to 1050 support, held that level and resumed the rally today. Long at the closing price of 1108 and looking for a move back above 1150.