Week from hell
2.03 pm At least in the large caps. I haven't taken a trick for the whole week. First of all my longer term positions performed badly, especially A2M and then I've been out of sync with the shorter term trades both on the long and the short side. My key overnight position was a long in MIN which is down 2% while I had a smaller long position in GXY which is down closer to 3% while the shorts are net higher despite the charts looking quite poor. Meanwhile KDR, ORE and SYR which are also in the lithium sector are up about 1 to 2%.
The small caps have been flat all week and it's the same story again today. I should probably take that as a win. I sold IMF at 294 early for an 8% gain and cut MYR for square at 43.5 although it's higher now. I lost patience, easy to do when you're taking a hit elsewhere.
The index is down 10 points to 6084 and looks ready to fall further next week. I think it's more technical than fundamental but it could chop lower for two or three weeks. I'm thinking of leaving all my positions, longs and shorts as today seems like typical Friday action.
4.27 pm I didn't do much more, all the bullish looking stocks from yesterday fell hard and the stocks in downtrends tended to rally.
The small stocks were more straightforward and I added a couple of new positions. One of them was in graphite explorer Talga Resources at 79.5. I thought about buying this last week but it seems clearer now and isn't too far gone.
The small caps have been flat all week and it's the same story again today. I should probably take that as a win. I sold IMF at 294 early for an 8% gain and cut MYR for square at 43.5 although it's higher now. I lost patience, easy to do when you're taking a hit elsewhere.
The index is down 10 points to 6084 and looks ready to fall further next week. I think it's more technical than fundamental but it could chop lower for two or three weeks. I'm thinking of leaving all my positions, longs and shorts as today seems like typical Friday action.
4.27 pm I didn't do much more, all the bullish looking stocks from yesterday fell hard and the stocks in downtrends tended to rally.
The small stocks were more straightforward and I added a couple of new positions. One of them was in graphite explorer Talga Resources at 79.5. I thought about buying this last week but it seems clearer now and isn't too far gone.
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