I've bought some BPT at 152 on the basis that the stock is in a very strong weekly trend and is potentially making a buy signal on the daily chart after a sharp pullback. I'm slightly nervous because it's a risk off market with the AUD falling along with commodities and most resource stocks.
Here's the weekly. Still in a decent trend with no obvious topping out in place.
The daily chart shows this pullback did overlap the previous swing high in late November/early December but is bouncing off it. There's a minor higher low and breakout (yesterday) and my stop is just below that higher low at 145.
I actually bought a few QBE stock back near the close when it held really well. I sold out that extra stock at 1301 on the open and the last of the puts at 4. I don't think they'll be of any value now that the stock is through resistance. I also sold a third of my RMD position at 302 while PXS is steady at 118.5 as the Asx 200 retraces in a tight range. NAB is solid, up 7 at 2393.
2.43 I'm planning to go short AGO again. It had a second attempt to rally after I stopped out and seems to have failed. I'm waiting till closer to the end of day. Stop will be at about 317 with a target around 280.
4.14 Shorted a half position in AGO at 303 on the match. I was trying for higher, there was a minor rally but it couldn't hold into the close. A pretty flat day, all in all, with the index down 9 points.
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