Surprise sell off
12.18 pm It's getting to that nervy end of financial year period where tax loss selling drives the action, at least in the small caps, and I've got rid of Sundance and I'm trying to exit DRM as these are struggling. Overall it's been a dud day for me with my new positions doing well in the large caps but a couple of things I'd been hanging onto getting hammered in a surprise sell off after a nondescript lead into the day with a flat start expected. Resources have sold off and banks remain under pressure but the rest of the market hasn't compensated as it has in previous sessions.
4.41 pm It was a 30 point drop by the close but felt worse as some of my key positions were hit harder. A new short is Pact Group. It's not normally a volatile stock but has been swinging around lately. It rallied back from a sharp sell off but seems to have failed at resistance. Short at 552.
4.41 pm It was a 30 point drop by the close but felt worse as some of my key positions were hit harder. A new short is Pact Group. It's not normally a volatile stock but has been swinging around lately. It rallied back from a sharp sell off but seems to have failed at resistance. Short at 552.
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