Copper strike

12.08 pm The index is higher by 0.4% and back above 6k to 6016. It's a pretty good day for my large caps with OZL kicking on more copper strength helped by strikes at Escondida (I think). It's up 36 to 1038 and I've sold half at a cent or so average below this. Oil found some support and the stocks are bouncing. I bought back shorts in BPT and STO for roughly square and have bought some Oil Search at 822. It looks like a higher low and the chance of a run at the highs.

I also like the look of Iluka. I've been long this for a few days while buying and selling and have added to the position at 1146. It's a nice break and I'd like to see a surge higher from here.

The small cap book has been flat for a week or so and the stalemate continues. I sold an Elders position at 938 (895 entry) and I'd held it for about 10 days.

4.54 pm The ASX 200 did pretty well, rallying 30 points and firming up the case for more strength.
I ended up taking profits on the OSH but the whole sector was going so I bought ORG and WOR which tracks oil. It was a pretty good day in the large caps with shorts in AMP, BEN and CGF helping too.
The small caps struggled and I couldn't quite figure out why. Anyway, I bought some LOV and SDA at the close. Lovisa is a strong stock and resuming a rally after a minor pullback. I'm hoping it doesn't have a more complex correction but this is just a quick momentum play with something around 1220 to 1230 possible tomorrow. Long at 1187.