Fizzling out

The week is fizzling out although it's a better performance than might have been expected. European and US markets used the Chinese PMI number as an excuse to sell off despite an obvious lack of concern in Chinese trading yesterday. Europe wasn't helped by weaker PMI figures of their own but the US had better job figures and evidence of a stabilising housing market to provide encouragement. The Asx 200 is down 14 points at 12.35 pm after falling 35 early. The weaker AUD (104 now) seems to be helping and financials are solid again. NAB is actually the only one of the 4 majors to be down – a modest 9 cents to 2430 – but was the best performer yesterday.

I added more SGP at 317 and I sold out of the LNC at 132 for square as the hoped for rally didn't eventuate.

2.46 The title was harsh, the market is up on the day now by 2 points. My positions are fizzling though and I'm cranky because a couple of impetuous positions – that I didn't post about – are costing me. Not terrible positions per se, just badly timed entries. NAB is pushing on, at least, and that's the one that can make the difference being the largest by underlying dollar value.

4.15 NAB stalled and none of the others changed much so it was a frustrating day. The index looks pretty good. The Asx 200 rejected a minor new low and changed the recent pattern of underperformance relative to other markets.