The big rallies on Friday night in Europe and the US have not had much follow through here after an early bounce so that with 10 minutes to go the index is up just 19 points. Asian markets are stronger and US overnight futures are up so I'm not quite sure what to make of it. I think it's gap filling but there are a couple of potential shorts lining up.
My best long has been a small one in gold miner, Intrepid. Long at 116.5, I've sold half out at 130 at a target level and I'm running the rest.
I can't believe I missed this one on Friday...
IPL reported today and it seemed pretty healthy but early gains have been reversed. I've had this as a potential short over the last week and today has seen another failure at 360ish. Stop will be at around 365 and I'll sell this on the close.
I'm looking at ALL too. I shorted this last week at 236 and stopped out for square. It may be a lower high.
4.15 The weakness continued into the match and gains were pared to 8 points. I shorted ALL at 237, IPL at 347 and PRU at 355. I hesitated but didn't act in OSH and OST which reversed to close fractionally weaker. I've moved my stops fairly close in these two though.
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