The index is 19 points off at 4254 as we approach 2 pm. I sold out the LNC at 137.5 average, a little better than Friday's close but 5 cents below my entry level. I also sold out of an OST position for a small gain. I put it on for a resumption of trend but it failed to push on and is now ex-dividend.
I'm left with PRU which is holding reasonably well at 277 and have added a few more March 2400 calls in NAB at 15.5. My take on NAB is that the low at 2256 in mid February was the end of the correction. However, I probably could have waited with the extra calls because it looks as if it could chop around for a few days even if it is going to run.
Broadly speaking, the market is not compelling. We might have seen a short term high and the European and US indices are losing momentum. Here's the daily for the Asx 200.
The FTSE 100 is holding an uptrend but could be rolling over.
I think I need to look more seriously for short positions. However, I'm off to see a surgeon for a second opinion. I've been advised to have an operation on my leg and want to confirm the diagnosis. More tomorrow.
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