Weight of money

12.29 pm The index has powered through 6000 - up 35 to 6018 - as the ANZ result was well received and above forecasts that I'd seen, focussing attention on the reality that banks in Australia make truckloads of money and they're very cheap. I bought some NAB early at 2922 on an intraday signal while my other overnight positions are doing ok though not wonderfully well.
The small caps are solidly higher with Appen doing well. I bought this as more of a medium term type play and a break of 1000 would imply some short term acceleration. It's currently up 28 at 992.

12.53 pm Staying with the small caps. I was hoping for a kick in HUB but it has had a modest rise so I'm out for a small gain at 1116. I bought some WTC at 1042. It had been on my radar and an upgrade this morning has confirmed the signal. The recent high was 1099 so that's the first target. and given the higher low it could go a bit further.

4.22 pm After the initial surge, the market went sideways and finished up 32 points. I sold out of GXY, MGR and PLS which eventually did well with gains of 9, 3 and 1 respectively. I've rolled into MIN, OZL and PTM. I'm long MIN at the closing price of 1844 and looking for a move to 1900 as the rally resumes following a brief retracement. This stock is complicated by the takeover bid for AGO but the price of AGO is not a huge discount to the head stock and the time and cost of buying AGO to get long MIN should limit any overhang.

There was only one further change to the small cap book after going early in Wisetech and selling HUB to pay for it. Happily, I got better than closing prices in both cases which is somewhat unusual. The additional long was continuing to play the lithium rebound via Kidman. I bought at 204 as a higher low looks to be in place and there was good support today.

I also got out of the momentum long in THC for square at the open which was a good thing as the sector sold off and this stock closed down 5.5 at 70.5.