Ricketson
12.07 A Ricketson is about 70 points and the index is up 73. Not a bad day although it's really the banks that are driving the performance with BOQ reversing yesterday and confirming that move today. My WSA has done nothing yet but a long in TPM is doing pretty well. TLS is doing even better but I prefer the TPM chart because it's more obviously basing/turning. The low in April has held and after a potential higher low yesterday, the stock has kicked a couple of percent and could well go a bit more today.
3.10 pm I'm thinking of buying some LNG for the small cap book. It's a base on base with a breakout and a new substantial shareholder notice this morning. The company has valuable infrastructure and may be a takeover target.
4.36 pm I was expecting further strength but it took until Friday to happen. The index looks pretty good now having confirmed that the sell off is over and we should test the highs soon.
There were any number of buy signals but I went for IAG and Santos. The only shorts I could find were COH and CSL. I was going for COH but it was sold off on the match and I missed my fill. I kept a couple of minor shorts in ALQ and AMC as some kind of hedge.
I kept half the long positions in TPM and WSA. TPM because it confirmed a break and should have some more short term momentum and WSA because it looked like a congestion day which may still continue higher.
The Santos chart has that base on base look about it so I'm hoping for a third wave acceleration where the first move up and down was wave 1 and 2 and we've now had waves 1 and 2 of a larger third perhaps.
In the small caps, I paid 52 on the match for LNG and have that along with some DRM, MLX and Bubs - which is suspended following an issue.
3.10 pm I'm thinking of buying some LNG for the small cap book. It's a base on base with a breakout and a new substantial shareholder notice this morning. The company has valuable infrastructure and may be a takeover target.
4.36 pm I was expecting further strength but it took until Friday to happen. The index looks pretty good now having confirmed that the sell off is over and we should test the highs soon.
I kept half the long positions in TPM and WSA. TPM because it confirmed a break and should have some more short term momentum and WSA because it looked like a congestion day which may still continue higher.
The Santos chart has that base on base look about it so I'm hoping for a third wave acceleration where the first move up and down was wave 1 and 2 and we've now had waves 1 and 2 of a larger third perhaps.
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