Whitehaven hopeful but it's an arm wrestle
12.43 pm Whitehaven announced its quarterly this morning which was well received. The company is bullish on coal prices but the market view is less optimistic. I like the 1-2-3 buy signal but the stock is definitely engaged in an arm wrestle. I've bought at 441 but I'm a tad nervous here.
The small caps are doing better with Appen up 26 now, touching its day's high of 953. I also sold out of half my balance in Select Harvest at 616. It's now up 19 at 624.
My large cap positions are muted, slightly in my favour, while the index reflects that with a rise of 18 to 5860.
4.36 pm The ASX 200 fell late to finish square on the day. The rally is fading fast and it looks like going lower. I kept most of the WHC as it held the gains on very good volume but was unable to break away from 441. I'm short a couple of financials in CBA and CGF and I added a couple of tech/online longs as this sector is strong. One of them is Altium, bought at 1981 on the match out. It's turning back up after holding the 50 day moving average and overlapping recent minor lows implying it's not a consolidation before another drift lower.
The large caps were flat on the day but the small caps did well with APX a good performer, closing up 34 at 961. I decided to hold this for another day. I bought some Hub24, a super fund fintech, at 1070 after they ran on good volume. It's starting to turn up after a shallow but slow correction.
The small caps are doing better with Appen up 26 now, touching its day's high of 953. I also sold out of half my balance in Select Harvest at 616. It's now up 19 at 624.
My large cap positions are muted, slightly in my favour, while the index reflects that with a rise of 18 to 5860.
4.36 pm The ASX 200 fell late to finish square on the day. The rally is fading fast and it looks like going lower. I kept most of the WHC as it held the gains on very good volume but was unable to break away from 441. I'm short a couple of financials in CBA and CGF and I added a couple of tech/online longs as this sector is strong. One of them is Altium, bought at 1981 on the match out. It's turning back up after holding the 50 day moving average and overlapping recent minor lows implying it's not a consolidation before another drift lower.
The large caps were flat on the day but the small caps did well with APX a good performer, closing up 34 at 961. I decided to hold this for another day. I bought some Hub24, a super fund fintech, at 1070 after they ran on good volume. It's starting to turn up after a shallow but slow correction.
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