Oil spill
12.33 pm The index is at 6000 exactly, down 33. Oils are much weaker on OPEC talks to increase production. It's been good for me with a short in Beach Petroleum coming good today as it was outperforming the others but has come to earth with an 8% drop. Another resources short in ILU is also down 4% while some bond proxy longs are a touch higher in SYD and TCL.
I also shorted some Santos intraday at 577 (currently 572) as Harbour Energy announced they are no longer a significant holder.
Small caps are a little down as I cut oil longs in Senex and Sundance for a minor loss in Senex and breakeven in SEA though a loss of unrealised gains. Best performer is Blackmores which is up a further 3.4%.
1.52 pm The selling has paused and there's been a very minor rally to 5999 after a low of 5994. I bought some Corporate Travel at 2525 and just sold a quarter at 2558. I'll probably keep most overnight. It's trending well enough and may be starting a 5th wave up.
Meanwhile, the small caps are back to square. I'm out of half the BKL at 14238 which was about 3.5% up. I've bought some CLA, a speccy miner on a resumption of the prior rally. Long at 23.
2.54 pm Beach is definitely the pick today. I shorted on Wednesday as it started to roll over and after chopping higher on Thursday it confirmed that weakness with a minor break on Friday. That was a base and breakout and the surge is here now. I shorted extra earlier today at 163 and bought back those at 160. I have the balance on the bid at 153.
4.39 pm The ASX 200 crept back above 6000 as it ended the day at 6004.
My large caps did well and the small caps gave some back late as DRM, KGN, NEA and PNV eased. BKL was the pick there and I sold a third of the TTT at 312 before they softened to close down 1 at 299.
I also shorted some Santos intraday at 577 (currently 572) as Harbour Energy announced they are no longer a significant holder.
Small caps are a little down as I cut oil longs in Senex and Sundance for a minor loss in Senex and breakeven in SEA though a loss of unrealised gains. Best performer is Blackmores which is up a further 3.4%.
1.52 pm The selling has paused and there's been a very minor rally to 5999 after a low of 5994. I bought some Corporate Travel at 2525 and just sold a quarter at 2558. I'll probably keep most overnight. It's trending well enough and may be starting a 5th wave up.
2.54 pm Beach is definitely the pick today. I shorted on Wednesday as it started to roll over and after chopping higher on Thursday it confirmed that weakness with a minor break on Friday. That was a base and breakout and the surge is here now. I shorted extra earlier today at 163 and bought back those at 160. I have the balance on the bid at 153.
4.39 pm The ASX 200 crept back above 6000 as it ended the day at 6004.
My large caps did well and the small caps gave some back late as DRM, KGN, NEA and PNV eased. BKL was the pick there and I sold a third of the TTT at 312 before they softened to close down 1 at 299.
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