Not taking a backwards step

11.58 am The index continues to drive higher with a further rise of 24 points to 6040 despite a flat overnight lead. It looks like the first serious resistance will be the January high of 6150.
Two of my overnight longs are up strongly, MIN is 3.5% higher and OZL is 2.5% up though PTM is down a tick or two at 567.
The small caps have joined the party with WTC the best, having pushed up past 1100. Staying in the tech sector, I've been in Appen for about a week and it has broken through 1000, more specifically the recent high of 1004, and now looks good for a run to 1100. I might add to this position on the close.

4.31 pm The index powers on and finished up 35 to 6050 so no work was done around the 6k level. It was a very good day for my large caps with MIN up 136 to 1980 and OZL up 33 to 961 while PTM was down 2. I sold them all on the close and rolled into Altium, Clydesdale Bank, and Domain. Altium is charting very similarly to Appen - both growing tech stocks - and I'm hoping ALU is commencing a new leg up to 2200. Long at 2085.
Talking of Appen, I did buy some more on a decent close above the 1004 resistance at a price of 1017 though I sold Wisetech at 1102. I was tempted to hold the Oz Minerals in the large cap book for another day but decided against it. However I did buy a copper exposed stock in the small cap book, MLX. Metals X is a diversified miner but the growth area is copper. I almost bought yesterday at 82 and paid 84 today because I think it can extend its run, perhaps to 90.


Comments

Popular Posts