Sell Oz buy China?
12.38 pm Down 21 despite a strong lead. I was half expecting it given the technical state of play but it's still a bit of a surprise when it happens. The culprit is the banks with the majors off 1 to 2 percent.
Otherwise my new long in Aristocrat has chopped lower with the market while yesterday's long in BHP continues to drive higher. The small caps are mixed to lower also. Best trade so far is a short in Nufarm, which is 15 cents lower to 849 as the Elders downgrade and potential capital raising for an acquisition weighs on the agriculture sector.
3.03 pm I bought Altium earlier today at 2215 and the stock has edged higher to 2225. I'm looking for a turn after a swing down from the all time high to the 50 day moving average at what I'm hoping is going to be a higher low.
4.43 pm The final result was a 0.4% drop to 6258. While I see the index as toppy, I think it will grind higher to around 6350 but we've hit the wall of worry phase and it will be hard going from here.
I shorted Link as it appears to be failing after a prolonged but weak rally following the post budget fall.
Otherwise my new long in Aristocrat has chopped lower with the market while yesterday's long in BHP continues to drive higher. The small caps are mixed to lower also. Best trade so far is a short in Nufarm, which is 15 cents lower to 849 as the Elders downgrade and potential capital raising for an acquisition weighs on the agriculture sector.
3.03 pm I bought Altium earlier today at 2215 and the stock has edged higher to 2225. I'm looking for a turn after a swing down from the all time high to the 50 day moving average at what I'm hoping is going to be a higher low.
4.43 pm The final result was a 0.4% drop to 6258. While I see the index as toppy, I think it will grind higher to around 6350 but we've hit the wall of worry phase and it will be hard going from here.
I shorted Link as it appears to be failing after a prolonged but weak rally following the post budget fall.
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